Trade recalibrations worrisome; India will focus on long-term policy agility: FM

Union Finance Minister Nirmala Sitharaman on Thursday said India will focus on policy agility and long-term vision to navigate the global challenges amid ongoing trade recalibrations worldwide.

The intensification of tariff wars and the rise of protectionist policies have the potential to disrupt global supply chains, increase production costs and create uncertainty in investment decisions across borders, she said while speaking at an event to mark stock bourse BSE’s 150th anniversary.

“India is confident…we will navigate these global disruptions with policy agility and long-term vision.

“The recalibration efforts on trade are very challenging…it is worrisome, but also very challenging,” she said.

The world is volatile, uncertain, complex and ambiguous, she said, pointing out that India stands firm in this environment with its strong macroeconomic fundamentals.

The country offers investors policy stability, growth, prudent macroeconomic policies and democratic institutions, she noted.

“The most effective path” for building economic resilience is to foster domestic efficiencies and competitiveness, Sitharaman said.

Business