India has capacity to repay 94 per cent of its foreign debt in a single day, says Fadnavis

Business To Business, Mumbai, 13^th June, 2026:    Devendra Fadnavis on Friday dismissed concerns about an economic slowdown in India, asserting that the country's economic fundamentals remain strong and resilient.
Addressing a press conference to mark 12 years of the government led by Prime Minister Narendra Modi, Fadnavis said repeated predictions of an economic downturn had not materialized.
The Maharashtra Chief Minister highlighted India's foreign exchange strength, claiming that the country currently has the capacity to repay 94 percent of its foreign debt in a single day.
He contrasted the present situation with earlier decades when concerns were frequently raised about India's ability to meet its external financial obligations.
Recalling a period of economic stress in India's past, Fadnavis said:
"There was a period when people used to say that unless the IMF and World Bank came to India's rescue, the country would collapse because it did not have enough money to repay its foreign debt."
His remarks appeared to reference the balance-of-payments crisis of the early 1990s, when India faced severe foreign exchange shortages and undertook major economic reforms.
According to Fadnavis, India's economic situation today is markedly different due to:

• Large foreign exchange reserves.
• Sustained economic growth.
• Improved macroeconomic stability.
• Increased global investor confidence.
• Stronger fiscal and financial institutions.

• High GDP growth rates relative to many major economies.
• Expanding infrastructure investment.
• Growth in manufacturing and services.