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Sitharaman Urges Resilience and Open Global Economic Ties
Finance Minister Nirmala Sitharaman said uncertainty is now a regular part of the world economy.
She said governments should keep preparing for problems instead of treating resilience as a one-time task.
Countries should keep trade rules predictable and talk through disagreements, she said.
India should also make important supplies less dependent on a single source.
Sitharaman said businesses need to invest more in research and development.
She also wants industry to help train people for jobs that are changing, including because of new technologies.
She described geopolitical conflict and trade barriers as some of the pressures economies face.
She said India has handled recent shocks with its economic fundamentals intact.
At the Kautilya Economic Conclave in New Delhi, Finance Minister Nirmala Sitharaman said global uncertainty is now a “standing condition” requiring continuous efforts to build resilience.
She urged countries to maintain open, predictable, rules-based economic relationships and use dialogue and negotiated agreements to avoid trade barriers.
She said India should build autonomy in strategic supply chains by replacing fragile single-source dependencies with domestic capacity.
Sitharaman called for greater private-sector investment in research and development; she said India spends 0.83% of GDP on R&D, compared with 2.7% for the OECD, and private firms contribute 36% of India’s R&D spending.
She also emphasized skills training for a changing workplace and cited global debt, geopolitical disruptions, trade barriers and tightening US monetary conditions as sources of economic shocks.
- Who
- Finance Minister Nirmala Sitharaman
- What
- She called for resilient policies, open and predictable global economic ties, more autonomous supply chains, and greater private-sector investment and skills training.
- Where
- New Delhi, at the Kautilya Economic Conclave.
- When
- Saturday, October 3; the reports identify the event as the Kautilya Economic Conclave 2026.
- Why
- She said global uncertainty is a standing condition and countries must prepare for economic shocks and disruptions.
Key facts
- Event
- 5th Kautilya Economic Conclave
- Theme
- Resilience in an age of flux
- India R&D spending
- 0.83% of GDP
- OECD R&D spending
- 2.7%
- Private-sector share of India's R&D spending
- 36%
- India GDP growth
- 7.8% in the June quarter
- Global public debt
- Almost 94% of GDP in 2025; projected to reach 100% by 2029
Quotes
Nirmala Sitharaman
India’s finance minister
“Uncertainty is now a standing condition of the global economy, and policy must be designed around it. We need to keep building resilience as we go along; it is not a one-time exercise. The coming years call for preparation, and India approaches them from strength.”
livemint.com
theprint.in
“International trade policy should provide greater certainty for businesses, respect national development priorities, and avoid unnecessary restrictions that fragment markets.”
livemint.com
theprint.in
Sources
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