Daijiworld Media Network – New Delhi
New Delhi, Feb 27: Finance Minister Nirmala Sitharaman emphasized India’s crucial role in shaping the evolving global order, asserting that the reset will not be dictated solely by developed nations.
Speaking at a media event in the capital, Sitharaman highlighted that while developed countries possess financial resources, trade and technology will be the real game-changers in the emerging world economy. "India must actively engage in this transformation," she stated.
She stressed that India not only needs to contribute meaningfully to the global reset but must also work towards boosting its per capita income and solidifying its position as a prime business hub driving global growth.
"India is uniquely positioned to lead technological advancements. We have demonstrated our ability to deploy technology on a massive scale, proving our capabilities to the world," Sitharaman noted.
The Finance Minister also suggested that India could take the initiative in forming a global technology consortium, strengthening ties with key allies and expanding its influence through strategic partnerships. "With India’s leadership, such a global technology group could have a significant impact worldwide," she added.
Addressing the changing geopolitical landscape, she pointed out that multilateral institutions are losing their effectiveness, making bilateral relations increasingly important. India must proactively strengthen its bilateral ties—not just for trade and investment, but also for strategic collaborations, she emphasized.
Sitharaman further underscored the need to shed outdated perceptions of India’s economic status. "We cannot move forward if we continue viewing ourselves through the lens of a post-colonial economy. Our focus is clear—we aim to promote domestic manufacturing while selectively allowing imports that enhance our production capabilities," she said.
Calling for nationwide participation in economic reforms, she urged state governments to take ownership of the reform agenda. "India’s economic progress is a collective effort. Reforms should not be seen as the sole responsibility of the Union government; every state must actively contribute to drive India’s growth," she concluded.