'Next only to China, we'll bridge the gap': Sitharaman flags India’s global rise, cites Elon Musk

Sitharaman pointed to a chart reposted by Musk, based on IMF projections

• India and China together contribute 43% to global GDP growth per IMF data
• Elon Musk noted India's growing global economic impact in a social media post.
• Sitharaman's Union Budget focuses on youth, rail, and tourism initiatives.

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Union Finance Minister Nirmala Sitharaman, on Sunday,  underscored India’s growing influence in the global economy, referencing a social media post by billionaire entrepreneur Elon Musk that highlighted India and China as the primary drivers of global growth, surpassing the U.S.

Speaking to university students in Parliament following the presentation of the Union Budget 2026-27, Sitharaman pointed to a chart reposted by Musk, based on International Monetary Fund (IMF) projections. The chart showed China contributing 26% and India 17% to global GDP growth, together accounting for 43% of worldwide expansion.

"I’m sure many of you are very active on social media, you would have seen this. I’m just quoting this name, not for any particular reason. Elon Musk takes the IMF data to say, 'wow, is this true?' You know, that kind,” Sitharaman told the students, adding, "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?"

#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

Turning to domestic politics, the Finance Minister remarked, “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 stressed confidence in India’s trajectory, “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 shared the graphic originally posted by World of Statistics, commenting 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% in 2026 and 3.2% in 2027, noting that technology investments, fiscal and monetary support, and private-sector adaptability are helping offset shifts in trade policy. The fund also flagged risks including geopolitical tensions, trade uncertainty, rising public debt, and potential corrections linked to artificial intelligence investment, while highlighting the productivity boost faster AI adoption could bring.

Earlier in the day, Sitharaman presented her ninth consecutive Union Budget, outlining proposals for new high-speed rail corridors, freight routes, national waterways, and youth-focused sustainable tourism initiatives, describing the budget as a roadmap for a “youth-driven and duty-focused” future.