Finance Minister Nirmala Sitharaman stresses India's strength amid global economic concerns
Nirmala Sitharaman, while speaking at the B20 Summit in the national capital on Friday, emphasized India's resilience and potential amid growing concerns about China's economic slowdown. When asked about the impact of China's economic challenges on India and the world, the Finance Minister opted to focus on India's narrative.
Acknowledging the global interest in China's economic developments, she stated, «I would rather play the India story.» Minister Sitharaman expressed her commitment to monitoring China's situation but emphasized her primary focus on India's current position and its abundant opportunities. She highlighted the nation's skilled workforce, vibrant work culture, and the enthusiasm of its youth to excel.
She elaborated, «We should speak for India's strengths and not for the suffering of somebody else.» The B20 Summit, which precedes the upcoming G20 Summit next month, provided a platform for her to showcase India's strengths.
Minister Sitharaman underscored India's current advantages, particularly its young, English-speaking population and a transparent governance system with accessible legal remedies through the courts.
During her address, the Minister detailed the government's initiatives to bolster infrastructure development, support startups, and address climate concerns. She outlined five key priorities essential for sustainable global economic recovery: boosting investment to stimulate growth, prioritizing global investment in public health and education, addressing climate change finance, diversifying supply chains, and managing inflation.
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