Sitharaman highlighted IMF data cited by Musk that projects India as the second-largest contributor to global GDP growth in 2026, saying the country has gained economic strength and will bridge the gap with China.
Finance minister Nirmala Sitharaman on Sunday referred to remarks by billionaire Elon Musk on a global statistics report that ranked India second in terms of its forecast contribution to global real GDP in 2026.
She said the Tesla CEO reacted to the IMF data with a “wow” and stressed that New Delhi “will bridge” the gap with China, which topped the list reshared by Musk.
Citing Musk’s X post, Sitharaman said the Opposition should also recognise the economic strength India has acquired.
IMF data reshared by Musk
On January 31, Musk reshared a post by World of Statistics (@stats_feed) ranking the top 10 contributors to global real GDP growth in 2026. The post, citing the International Monetary Fund as its data source, placed China first with 26.6 percent and India second with 17 percent. Musk reposted it with the caption, “The balance of power is changing.”
Other countries such as the United States, Indonesia, Brazil, Nigeria and Saudi Arabia were ranked lower, with contributions of 9.9 percent, 3.8 percent, 1.7 percent, 1.5 percent and 1.7 percent, respectively. The report also noted that China and India together account for 43.6 percent of global growth.
‘We will bridge the gap with China’
Speaking at the Youth Dialogue on Union Budget 2026–27, Sitharaman said Musk had reacted to the IMF data with a “wow” response. She noted that while China contributes 26 percent and India 17 percent to global GDP growth, the two economies together account for 43 percent of global growth.
Targeting the Opposition over its criticism following the Budget presentation, she said it should understand the scale of India’s current economic strength. Acknowledging the gap with China, Sitharaman said that while the difference is significant, India would bridge it, and emphasised the need for confidence in India’s growing role in the global economy.
IMF raises India growth projection
In January, the IMF raised India’s growth projection to 7.3 percent for FY 2025–26 and placed the GDP growth forecast at 6.4 per cent for FY 2026–27.
Rijiju targets Rahul Gandhi
Union minister Kiren Rijiju also referred to Musk’s post while responding to Congress leader Rahul Gandhi’s criticism of the Budget. He said he was quoting Musk only to highlight national achievement and urged Gandhi not to disparage the country while criticising the government.
Rijiju said that while criticising the government is a democratic right, India’s achievements should not be belittled. His remarks came amid Rahul Gandhi’s continued criticism of the BJP-led central government’s handling of the economy.
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