Indian Economy Strong Enough To Withstand Global Shocks, Says FM Sitharaman Amid Trump Tariffs

Union Finance Minister Nirmala Sitharaman on Friday (3 October) highlighted India’s growing economic resilience amid escalating global trade tensions and geopolitical conflicts, reported The Times Of India.

Addressing the inauguration of the 4th edition of the Kautilya Economic Conclave, she said, "Our 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. So in conclusion, history teaches us that crises often precede renewal."

She noted that sanctions, tariffs, and decoupling strategies are reshaping global supply chains she added, geopolitical conflicts are intensifying… these dynamics highlight both India’s vulnerability and resilience and hall the ability to absorb shocks.

Sitharaman stressed that becoming more self-reliant does not mean closing the economy. She stated, "We have to reach 8 per cent GDP growth to get to the goal for a developed nation."

Her remarks came amid a standoff with the United States, which recently imposed an additional 25 per cent tariff on Indian imports, raising the total duty to 50 per cent.

Sitharaman added, "We are in a shifting global landscape which resembles a zero-sum approach. Indian economy is resilient and continues to grow sustainably."

She stressed the importance of active participation in global affairs: "We cannot afford to be passive spectators… we must be active participants, shaping outcomes where possible and preserving autonomy where necessary."

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