Sitharaman emphasises India’s economic strength and urges global inclusivity

Finance Minister Nirmala Sithraman on Friday highlighted Indias role as a stabilising force in the global economy while cautioning against the risks of imbalances and volatility in her inaugural address at the fourth edition of the Kautilya Economic Conclave 2025 at New DelhiSpeaking at the conclave themed Seeking prosperity in turbulent times the minister noted that the very foundations of the global order are undergoing a structural transformation with trade flows alliances and financial systems being reshaped by geopolitical shiftsStating that the present is turbulent in some sense would be to understate the scale of the challenge at hand the minister said adding that omnipresent uncertainty has become the new normThe international order is morphing Trade flows are being reshaped alliances are being tested investments are being rerouted along geopolitical lines and shared commitments are being reexamined Sitharaman notedReflecting on the contours of multipolarity the minister said the global dominance of one power has given way to contestation with Asian nations asserting alternative models of growth and governanceWhat we face is not a temporary disruption but a structural transformation The question is What lies on the other side of this transformation What will the new equilibrium look like Who will shape it and on what terms the minister saidShe however added that in this evolving landscape Indias economic rise anchored in strong domestic factors such as fiscal consolidation strategic reforms and controlled inflation stands out as a source of stabilityOur growth is firmly anchored in domestic factors which minimises the impact of external shocks the minister stressed while cautioning against complacencyThe address drew attention to the difficult tradeoffs faced by developing nations These included the balance between energy transition and energy security growth and sustainability innovation and labour markets and the high cost of borrowing versus investment needsThese tradeoffs are not easily resolved yet they cannot be ignored the minister said pointing out that derisking and decoupling are reshaping globalisation and creating structural imbalancesCiting trade financial and energy asymmetries as major distortions in the current order the minister said the task ahead was not just to manage uncertainty but to confront imbalanceWe must ask ourselves how can we build a global order where trade is fair finance serves productive ends energy is both affordable and sustainable and climate action aligns with development imperatives the minister addedThe finance minister also flagged the growing impact of technological and financial disruptions Innovations such as stable coins and new monetary architectures along with intensifying geopolitical conflicts are forcing nations to adapt to avoid exclusion the minister observedOur capacity to absorb shocks is strong while our economic leverage is evolving Our choices will determine whether resilience becomes a foundation for leadership or merely a buffer against uncertainty the minister saidConcluding the address the minister highlighted that crises often precede renewal and called for developing countries to be active participants in shaping global outcomesWe cannot afford to be passive spectators in a world where decisions elsewhere determine our destinies We must be active participants shaping outcomes where possible and preserving autonomy where necessary the minister notedHighlighting the importance of dialogue and openness at the threeday conclave the finance minister said Let us therefore treat this moment not only as a crisis but as an inflexion point Let us converse not only to ponder upon what future awaits us but also to lay out the contours of the future we wish to createThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever