New Delhi, October 3 (IANS) We are in an era of unprecedented global instability, where the rules of international engagement are being re -written, but India’s growth is strongly inherent in domestic factors and the country’s ability to absorb global shock is strong, Finance Minister Nirmala Citraman said here on Friday.
He said that India’s strong domestic factors reduce the influence of global uncertainties.
“We are in a shifting global scenario, which resembles a zero-zero point of view. The Indian economy is flexible and continuously growing,” FM Sitarman said while giving a inaugural address in the ‘Kautilya Economic Conclave 2025’ in the national capital.
“By 2047, by self -reliance, becoming a Wikimat India by self -reliance does not mean that we want to become a closed economy.
According to the Finance Minister, we cannot afford to become passive spectators in today’s era.
“We must be an active participant. Nations need to make an option between new monetary architecture. No nation can insulating itself with systemic changes, we should prepare to join them. Tariffs, restrictions and decupping strategies are re -shaping supply chains. International institutions are required to reflect today’s realities,” he said.
The Finance Minister further said that what we faced is not a temporary disruption, but a structural change.
“The scale of the challenge is very big. We will understand the challenge in hand; this is a structural change,” he said.
He said, “A completely world is looking to come out of uncertainty, global orders are shifting. The world that exiting the Cold War has been pushed to and for globalization.
FM Sitarman said that the global order is shifting, with multilateral institutions currently reducing confidence in the international community. He recently cited G20 discussions, where experts considered the need for reforms in multilateral institutions to restore stability.
Highlighting India’s twin-track approach, the Finance Minister said that the nation aims to achieve the position of the developed economy by 2047 and strengthen self-reliance, clarifying that self-sufficiency does not pursue a closed economy.
,
He/