Union Finance Minister Nirmala Sitharaman on Sunday took aim at the Opposition over India’s economic standing, citing a social media post reshared by billionaire entrepreneur Elon Musk to underline the country’s growing influence on global growth, ahead of the United States.
The remarks came during an interaction with university students inside Parliament, hours after Sitharaman presented the Union Budget 2026-27 in the Lok Sabha. Around 30 students attended the session in New Delhi after watching the budget proceedings from the House gallery.
‘This Is the Strength India Has Acquired’
Referring to Musk’s repost on X of a chart based on International Monetary Fund (IMF) projections, Sitharaman said the data reflected how India’s position in the global economy had strengthened in recent years.
“I’m sure many of you are very active on social media, you would have seen this. I’m just quoting this name, not because there’s a particular reason,” she told the students, recalling Musk’s reaction to the IMF-linked graphic. “He takes the IMF data to say, ‘wow, is this true?’ something to that effect.”
She then pointed to the figures highlighted in the widely circulated post. “China contributes 26 per cent of the growth in global GDP. India contributes 17 per cent. Together, 43 per cent of global GDP growth comes from these two economies. Did any of you see that tweet? What does that convey?” she asked.
‘Opposition Should Also Understand’
Turning to domestic politics, Sitharaman said the Opposition should acknowledge India’s rising global profile. “I will say this from my side in Parliament, but India’s Opposition should also understand that this is the kind of strength that India has acquired now — next only to China,” she said. Acknowledging the gap between the two economies, she added, “The gap may be big, 26 and 17. We’ll bridge it.”
Expressing confidence in India’s trajectory, the finance minister said, “We should have the confidence that together with a big economy, which is just next door, we contribute 43 per cent of global GDP growth. And we are living in that India.”
Musk had reposted the chart, originally shared by World of Statistics, with the comment that “the balance of power is changing,” a line that has since been repeatedly cited by leaders of the ruling BJP.
IMF Outlook and Political Reactions
The IMF’s January 2026 global outlook projects worldwide growth of 3.3 per cent in 2026 and 3.2 per cent in 2027. It noted that technology investment, fiscal and monetary support, accommodative financial conditions and private-sector adaptability are helping cushion the impact of shifting trade policies. At the same time, the fund flagged risks from geopolitical tensions, trade uncertainty, possible corrections linked to artificial intelligence investment and rising public debt, while saying faster AI adoption could boost productivity over the longer term.
Earlier on Sunday, Sitharaman had presented her ninth consecutive Union Budget, outlining proposals for high-speed rail corridors, dedicated freight routes, national waterways and sustainable tourism initiatives. She described the budget as a youth-driven, duty-focused roadmap for the coming years.
Musk’s remarks were also invoked by Union Minister of Parliamentary Affairs Kiren Rijiju to counter Lok Sabha Leader of Opposition Rahul Gandhi, who has continued to criticise the BJP-led government’s handling of the economy and the Union Budget 2026–27. Quoting Musk’s post, Rijiju urged Gandhi not to “disparage India” while attacking the government.
“I’m quoting @elonmusk only to sensitise Rahul Gandhi ji that, while criticising the govt is a democratic right, do not disparage India & never belittle India’s achievement. Be a proud Indian,” Rijiju wrote on X.
The projections shared online placed India above the US, with India forecast to contribute 17 per cent to global GDP growth. Other countries were shown at lower levels, including Indonesia, the US and Germany, while China remained at the top.
In January, the IMF had raised India’s growth projection to 7.3 per cent for the 2025–26 fiscal year and forecast GDP growth of 6.4 per cent for 2026–27, reinforcing the government’s argument that the country remains among the fastest-growing major economies in the world.
