Reserve Bank of India Governor Sanjay Malhotra has urged American businesses to invest in India, highlighting the country’s robust economic performance and policy stability amid global uncertainties. Speaking at the US-India Economic Forum in Washington, D.C., hosted by CII and USISPF, Malhotra said India remains the fastest-growing major economy, with expected GDP growth of 6.5% in FY 2024–25.
“India is a beacon of stability — monetary, political, and financial — and continues to offer long-term value for global investors,” Malhotra said. He cited India’s consistent policy environment, resilient macroeconomic fundamentals, and a forward-looking, rules-based governance ecosystem as strong enablers of growth.
He pointed to India's economic leap from the tenth-largest to the fifth-largest economy in just a decade, with nominal projections soon placing it third globally. "Our ambition is to become a developed nation — Viksit Bharat — by 2047, marking 100 years of independence," he said.
Malhotra stressed that India’s financial sector is strong and vibrant, with commercial banks showing high resilience, solid profitability, and manageable NPAs. Non-banking financial companies (NBFCs) also remain healthy, with bank credit growth holding steady at 12%.
He invited US companies to explore opportunities in India’s sunrise sectors such as semiconductors, renewable energy, electric mobility, and space technology. India’s rise as a global SaaS hub, especially in generative AI, adds to its appeal, he noted.
“India is not just an investment destination, but a long-term partner in shared prosperity,” Malhotra emphasized. “Come, collaborate, innovate, and grow with us.”
The RBI Governor’s address sought to build momentum around India's growing role in global supply chains and economic leadership, presenting a compelling case for strategic US-India economic ties.