When we talk about India’s role in shaping global economy, we are comfortably placed: Nirmala Sitharaman at Mumbai Leadership Summit

Union Finance Minister Nirmala Sitharaman speaks at an event in Mumbai today, February 27, on the theme ‘The Great Reset: India in a New World Order’. Following her address, Sitharaman participated in a fireside chat, where she discussed India’s evolving role in the global economy.

“We have many fundamental issues to address, to meet aspirations of growing middle class, poor, and entrepreneurial class. The aspirations of the poorer bulk and the growing middle class needs to be continuously attended to,” says FM Sitharaman.

“When we talk about India’s role, we are comfortably placed,” she added.

Talking about global trade, Sitharaman said, “Every country wants to be treated special and they want to ensure this treatment is not given to everyone else. That is how trade is being refashioned.We need to rethink MFN status and bilateral trade.”

“In matters of technology, India can be a leader in many aspects as we do it on a population scale. India can lend a hand to global tech group on this. Global technology group with India’s steam can play a big difference,” Sitharaman said.

“India has to prioritise investing in technology. India can play talent to its advantage, which is required for technology going. India can be the engine of global growth” she added.

She further underlined the importance of investing in people to ensure technological mastery, which she believes will place India in a leadership position in a rapidly evolving global order.

Sitharaman said, “I would think Global technology group with India’s if anything leadership or India’s team can play a big difference across the world and that is where India should be steady and clear minded.

So technology is an area which is rapidly changing, countries want to have it, countries want to benefit from it, at the same time cost of technology is just so big that not every country can manage to have it service them, let alone, advancing in them.”

She added, “India has to prioritize on investing in technology, investing in people to have that mastery over that technology and it is that which is going to place India in a leadership position in a global order which needs participation of very many countries to set the order in place.”

Highlighting India’s role in shaping the future of the global economy, Sitharaman remarked, “India’s technology will put us at the high table. We have just completed the first quarter of the first century in the new millionaire and clearly we are looking at a totally different world coming rather sooner than we can expect.”

With inputs from agencies

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