Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman called for India to build economic resilience as global uncertainty becomes a standing condition.

“For India, resilience means building upon the structural foundations laid over the past decade to accelerate and broaden growth.”

India's Economic Performance

India maintained strong fundamentals with 7.8% GDP growth in April-June and 4.82% CPI inflation in August.

Resilience as Ongoing Process

Sitharaman stressed that building resilience is not a one-time exercise but requires continuous preparation for future shocks.

“We need to keep building resilience as we go along; it is not a one-time exercise.”

Strategic Resource Security

India must prioritize structural autonomy in strategic inputs for national security, with resource security at the centre of macroeconomic policy.

“Strategic resource security sits at the centre of macroeconomic policy.”

Private Sector R&D Investment

India's R&D expenditure is 0.83% of GDP versus 2.7% for OECD, with private sector contributing only 36% of total R&D.

Future Economic Strategy

Sitharaman called for private investment to lead the economic cycle, including research and innovation, to strengthen India's innovation capacity.

“Private investment must now lead the cycle, including in research and innovation.”