The Minister of Finance, Nirmla Sitharaman, has said that changing the world order that raises challenges and opportunities for India. This comment is significant since Trump’s tariff decision has the potential to bring great changes in the global economic order.
“As we sit the foundations for a developed India, we must stay committed to the long -term objectives, without losing sight of the current realities. The global order is changing. That raises challenges but also opportunities. We must be the toy formed the urtilio”, meeting in the Hoover institution, University of Stanford in California. The minister is an official visit in the United States.
“A Vksit Bharat will be molded not only by the government but by the collective effort of each citizen. This vision calls us to think, act even and stay resistant and flexible,” he said.
Speaking of thrust in infrastructure development, he said that he has also created a solid basis for growth led by manufacturing by reinforcing investor trust.
This has been enabled by an increase of more than four times in the capital spending of the Government of the Union (CAPEX) between 2017–18 and the 2025–26 budget.
Highlighting the success of the Digital Public Infrastructure (DPI), the minister said that more than one billion digital identities have been created using DPI.
Using digital identities thesis, bank accounts were created and during the Covid-19 pandemic, the government transferred the money in a click of a button. DPI was also useful to administer the duration of the COVID-19 Pandemic vaccine. Taking a note from an Indian report and BCG, he said that the immigrants of the First Indian general founded 72 unicorns between 2018 and 2023.
“These unicorns were Werth at least USD 195 billion in assessment and used almost 55,000 people. More than 65 percent of global capacity centers (CCG) in India are based in the US.
Recognizing the role of a vibrant and prosperous network of small and medium enterprises is essential for national manufacturing to grow.
The Government has undertaken numerous initiatives to support the MSME, from facilitating access to credit, redefining size thresholds, facilitating rapid payments of large buyers and simplifying compliance burns. The open network for digital trade, launched in April 2022, has incorporated more than 764 thousand suppliers into 616 cities. “
Our next approach is to reduce regulatory frictions, the digitalization of approvals and integrate MSME into global value chains. Special support for rural companies and led by women will help improve economic opportunities and ensure more inclusive growth, “he said.
Posted on April 22, 2025