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Nirmala Sitharaman, the Union minister for finance and corporate affairs has emphasized that India’s growth potential is recognised by institutions like World Bank and International Monetary Fund. India’s importance in supporting global trade was also highlighted by Sitharaman.
FM Sitharaman is on a visit to US and Peru, where she would have a series of talks with CEOs from leading fund management firms and IT firms.
While addressing the Indian diaspora at the Indian community centre in San Francisco, she said, ”When we say India is the fastest growing economy, and when the IMF or the World Bank recognizes that India, because of the growth potential, can be India, China, many other such countries, can be the engine to pull the world trade, which is in the negative or just about positive zone, they recognize the potential that exists in India.”
Her message to the Indian diaspora was clear: India is ready to collaborate and is well-positioned to lead the next chapter of global economic growth.
She added, ”and by us growing with that potential, we will probably be able to lift that trend which is seen globally because of the various uncertainties, keeping growth low, keeping trade low, but keeping inflation high in some places.”
In her talk, Sitharaman discussed the current scenario of global trade. She highlighted the growth of the Indian economy amid the ongoing global crisis and turmoil due to the alterations in the tariff policies.
Sitharaman also emphasized the Indian government’s commitment to transforming the nation into a developed country -Viksit Bharat, by 2047. She noted that Prime Minister Narendra Modi has outlined a clear roadmap, centered around four key segments: women, the underprivileged, youth, and farmers.
She highlighted India’s strategic focus on emerging “sunrise sectors” such as Digital Public Infrastructure (DPI), an area where the country has already established global leadership. These sectors, she said, are pivotal in enhancing India’s future economic strength and international influence.
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