'India has a really hot hand right now,' USIBC president says after 7.8% GDP growth

India has “a really hot hand right now,” according to Atul Keshap, president of the US-India Business Council at the US Chamber of Commerce. He said investors around the world are reassessing the country after it posted 7.8% real GDP growth in the first quarter of financial year 2027.

Keshap credited India's infrastructure push, regulatory changes, tax reforms and broader efforts to dynamise the economy. “Everybody loves a hot hand, and India has a really hot hand right now. So I think all around the world, countries and investors are reappraising their view of India,” he said in New York.

“

Everybody loves a hot hand, and India has a really hot hand right now. So I think all around the world, countries and investors are reappraising their view of India.

Government data showed real GDP reached an estimated 81.36 lakh crore rupees in the April-June quarter, compared with 75.46 lakh crore rupees in the same period a year earlier. The result surpassed the Reserve Bank of India's earlier quarterly estimate of 7%. The central bank has raised its full-year FY27 growth forecast to 6.7% from 6.6%.

“

They realise that the immense effort India has put into infrastructure, into regulatory and tax reform, and into dynamising its economy means that the India growth story is a real story and it's worth the attention of the world.

Nominal GDP grew 10.3% to an estimated 88.27 lakh crore rupees. Real gross value added rose 8.2% to 73.82 lakh crore rupees. Keshap said American investors are watching India closely, with substantial investment already flowing into electronics manufacturing, defence and other sectors.

He urged India to open its regulatory framework further to support foreign direct investment and capital-market flows. With additional reform, he said, India could build “incredibly robust, vibrant, world-class stock exchanges and financial markets” and generate broader prosperity. Keshap said he would leave discussions on the bilateral relationship to the two governments ahead of the G20 summit scheduled for Miami later this year, while stressing the importance of economic growth among major powers.

“

We believe that with a little more regulatory work in India, on the reform path, India can absolutely achieve quite a substantial return for its people, lifting many more people to prosperity.