India overtakes US in 2026 GDP growth, Elon Musk says ‘power balance is changing’

New Delhi (The Uttam Hindu): According to the latest assessment by the International Monetary Fund (IMF), India has moved ahead of the United States in terms of contribution to global economic growth. This information came to light through a report shared by World of Statistics on social media platform X on January 31.

The report was reposted by Tesla and SpaceX CEO Elon Musk, who commented, “The balance of power is shifting.” His remark is being seen as a reflection of India’s rising role in the global economy.

India’s contribution higher than US in 2026

As per the IMF report, India is expected to contribute 17 percent to global GDP growth in 2026, while the US contribution is estimated at 9.9 percent. China remains at the top of the list with a 26.6 percent share. Together, India and China are projected to account for about 43.6 percent of global GDP growth, highlighting Asia’s growing influence on the world economy.

Elon Musk’s growing focus on India

In recent months, Elon Musk has shown consistent interest in India’s economic progress. He has met Prime Minister Narendra Modi twice and is exploring potential locations for expanding his companies’ operations in India.

Finance Minister Nirmala Sitharaman’s remarks

Speaking at the Youth Dialogue program on Budget 2026, Finance Minister Nirmala Sitharaman referred to Musk’s reaction and said IMF data clearly reflects India’s economic strength. She stated, “China contributes around 26 percent and India about 17 percent to global GDP growth. Together, both countries now account for nearly 43 percent of global economic expansion.”

Confidence in narrowing the gap with China

The Finance Minister further said that India is emerging as a decisive force in the global economy. She added that while a gap with China still exists, India has the capacity and confidence to reduce this difference in the coming years, making its role in global growth increasingly important.