Elon Musk’s Post Sparks GDP Debate
Finance Minister Nirmala Sitharaman on Sunday said India has the strength and confidence to narrow the economic gap with China, citing billionaire Elon Musk’s recent post on global GDP growth forecasts. Musk had reshared IMF-based data ranking India as the second-largest contributor to global real GDP growth in 2026. China topped the list, while India followed closely. Musk captioned the post by saying the “balance of power is changing,” a remark that quickly drew political attention in India.
India, China Together Drive Global Growth
Speaking at the Youth Dialogue on Union Budget 2026–27, Sitharaman highlighted that India and China together contribute nearly 43% of global GDP growth. China accounts for about 26%, while India contributes roughly 17%. Sitharaman acknowledged the gap but stressed that India would bridge it over time. She said India should feel confident about its growing economic influence, especially as a neighbouring economy to China. According to her, the figures reflect India’s expanding global role rather than a rivalry alone.
Opposition Criticism Draws Sharp Response
Sitharaman used Musk’s reference to IMF data to counter criticism from the Opposition over the Union Budget. She said critics must recognise the economic strength India has built in recent years. The minister argued that global data, not political rhetoric, reflects India’s true standing. She pointed out that the IMF recently raised India’s growth projection to 7.3% for FY 2025–26 and forecast 6.4% growth for FY 2026–27, reinforcing confidence in the economy’s direction.
Rijiju Backs India’s Economic Narrative
Union Minister Kiren Rijiju also cited Musk’s post while responding to Congress leader Rahul Gandhi’s remarks on the Budget. Rijiju urged the Opposition not to undermine India’s global achievements while criticising the government. He said political debate remains legitimate but should not belittle national progress. Rijiju stressed that India’s rising contribution to global growth reflects collective effort and long-term reform. With India and China driving nearly half of global expansion, the government believes India stands at a decisive moment in its economic journey.
