Finance Minister Nirmala Sitharaman was addressing the Peterson Institute for International Economics (PIIE) during a fireside conversation about the Indian economy’s growth.
Finance Minister Nirmala Sitharaman has advised investors to consider what is occurring in India rather than listening to assumptions formed by people who have never visited the country. She was speaking at the Peterson Institute for International Economics (PIIE) at a fireside talk about the Indian economy‘s progress.
“I believe the answer lies with the investors who are coming to India, and they have been coming.” “And as someone interested in getting investments, I would simply say, come see what’s going on in India, rather than listening to views generated by individuals who haven’t even visited the ground and produce reports,” she said.
In her speech, she also stated that India and other emerging market economies (EMEs) bear the burden of being an emerging market. The Finance Minister also ascribed the Indian economy’s post-pandemic recovery to the tenacity of the Indian people.
“It is the resilience of the Indian people to take on the challenge and come out in their businesses despite tragedies at home,” the Union Finance Minister said. In addition, she stated that India requires durable value chains.
“India needs resilient value chains to come to India, which is why we created the Production Linked Incentives (PLI) scheme so that those supply chains can thrive in both domestic and international markets.” “We’ve incentivized production so that goods produced in India are both consumed in India and exported to other countries,” she explained.
She also asked the World Trade Organization (WTO) to be more progressive and to allow more space to other countries with opposing views. “I would like the WTO to be much more progressive, much more open to all countries, and much fairer to all members,” Sitharaman added.