FM: India’s Growth Story Undimmed by Global Headwinds

Finance Minister Nirmala Sitharaman used the SIDBI Foundation Day platform to counter negative sentiment about India’s prospects. She said persistent pessimism ignores the tangible progress visible in rising GST collections, healthy auto sales and expanding MSME credit. Data from CII show private capex up 67 percent in September 2025, while corporate profit margins reached historic peaks in the March quarter. Although conflict in the Middle East threatens higher energy prices and disrupted trade routes, Sitharaman reiterated that India’s macroeconomic buffers remain strong. New policy steps include a SIDBI-regional rural bank co-lending arrangement, a ₹5 lakh collateral-free micro-credit card under CGTMSE, and ECLGS 5.0 that will channel ₹2.55 lakh crore to stressed small businesses. The minister also highlighted the fiscal cost of recent fuel-tax cuts, estimating a ₹1 lakh crore revenue gap in FY 2027, but insisted these measures were essential to shield citizens from imported inflation. She concluded by asking opinion-makers to celebrate India’s underlying momentum rather than manufacture doubt.