sitharaman-emphasises-economic-recovery-post-pandemic

Finance Minister Nirmala Sitharaman has urged industries to realign their policies to align with the country's political and strategic decisions. Speaking at the CII Global Economic Policy Forum, she outlined the challenges facing the global economy and emphasised the need for industries to adapt to these evolving dynamics.

 

Highlighting the economic recovery post-Covid, Sitharaman stated that the Indian economy still needs to "claw back" to regain its pre-pandemic strength.

 

She warned that any disruption, such as skirmishes or wars, could further strain supply chains and food value chains. The Minister stressed the importance of avoiding conflict and working towards restoring global calm and stability.

 

Sitharaman noted that supply chain disruptions have become a pressing issue and require a multifaceted approach. She emphasised that economic priorities must now be intertwined with political and strategic considerations.

 

Restoring supply chains, she said, is not merely a matter of economics but also involves addressing geopolitical and strategic risks that could threaten national well-being.

 

The Minister called for industries to adapt and innovate in response to these challenges. She urged the blending of large, medium, and small enterprises to achieve balanced growth, job creation, and economic resilience.

 

According to her, this integration is essential for building industries capable of enduring global uncertainties.

 

Sitharaman also stressed the need for industries to expand their focus beyond traditional measures of scale. She argued that adaptability to newer challenges should become a priority and industries must rethink their approaches to stay relevant in a rapidly changing environment.

 

Reflecting on lessons from the past decade, she reiterated that both the government and industries must adapt their decision-making processes to align with not only economic objectives but also strategic and political realities. By doing so, she believes the nation can create a more resilient economy that is better equipped to withstand global challenges.