Union Finance Minister Nirmala Sitharaman on Sunday targeted the Opposition over India’s economic standing, citing a social media post by billionaire entrepreneur Elon Musk that highlighted the growing
role of India and China in driving global growth, and keeping both nations above the United States of America.
Sitharaman made the remarks during an interaction with university students in Parliament after presenting the Union Budget 2026-27.
The session was held in New Delhi, where she met around 30 students who had watched the budget proceedings from the gallery of the Lok Sabha.
Referring to Musk’s repost on X of a chart based on projections from the International Monetary Fund (IMF), Sitharaman explained that the numbers underlined the strength India has acquired in the global economy.
“I’m sure many of you are very active in social media, you would have seen. I’m just quoting this name, not because there’s a particular reason. Elon Musk takes the IMF data to say, ‘wow, is this true?’ You know, that kind. I don’t remember what exactly he said. Wow, he said, or something else he said,” she told the students.
She then cited the figures highlighted in the widely circulated graphic.
“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.
Turning to the domestic political debate, the Finance Minister said the opposition should take note of India’s rising profile.
“I will say this from my side in the Parliament, but India’s Opposition should also understand that this is the kind of strength that India has acquired now. Next only to China. The gap may be big, 26 and 17. We’ll bridge it,” she said.
Stressing confidence in the country’s trajectory, Sitharaman added, “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.”
#WATCH | Delhi: At the Youth Dialogue on Budget 2026, Finance Minister Nirmala Sitharaman says, “…Elon Musk takes the IMF data to say “wow, is this true”. I don’t remember if he exactly said ‘wow’… China contributes 26% of growth in global GDP. India contributes 17%.… pic.twitter.com/qY53GvKeHC
— ANI (@ANI) February 1, 2026
Musk had reposted the chart, originally shared by World of Statistics, and commented that “the balance of power is changing”.
The balance of power is changing https://t.co/mzk1KRHkcg
— Elon Musk (@elonmusk) January 31, 2026
The IMF’s January 2026 global outlook projects worldwide growth at 3.3 per cent in 2026 and 3.2 per cent in 2027, noting that technology investment, fiscal and monetary support, accommodative financial conditions and private-sector adaptability are helping offset trade policy shifts.
The fund also flagged risks from geopolitical tensions, trade uncertainty, potential corrections linked to artificial intelligence investment, and rising public debt, while saying that faster AI adoption could lift productivity and support longer-term expansion.
Earlier on Sunday, Sitharaman had presented her ninth consecutive Union Budget in the Lok Sabha, outlining proposals including new high-speed rail corridors, freight routes, national waterways and initiatives linked to sustainable tourism, as part of what she described as a youth-driven and duty-focused roadmap for the coming years.
