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Sitharaman expressed his optimism about the successful conclusion of the negotiations of India-Rio-Refound Free Trade Agreement (FTA) “sooner rather than later”, together with a bilateral investment treaty.
The Minister of Finance, Nirmala Sitharaman. (PTI)
The resilience of the economy and the strength of domestic demand will continue to make India a growth engine in the midst of the global commercial landscape that quickly evolves as a result of US tariffs, said Finance Minister Nirmala Sitharaman in London on Tuesday.
In an interaction entitled ‘Opportunities and challenges for the search for India to become an economy developed for 2047’ in the high commission of India in London at the beginning of its first visit to the United Kingdom in its current term of the cabinet, the minister said that the economy and competitiveness well while adding the winds of the winds of the winds of the global world.
He also expressed the optimism about the successful conclusion of the negotiations of the United India-Real Free Trade Agreement (FTA) “before”, together with a bilateral investment treaty.
“The world has seen depressed growth for several years; before, it was of low interest for a long time, and now it will be a low growth for a long time, and that is not happy news for anyone,” Sitharaman said.
“India has coined its fastest growing economy label continuously for five years, and we still think that the impulse can moderate a bit, but it will still be India who will maintain that growth … as our get -destitute growth of consumption.
“It is supported by the demand for global standard goods, and that is why globalization since the 1990s has given India many opportunities,” he said.
“The United States is the leading commercial partner for India. Therefore, at a time when trade will be influenced by tariffs, the measures that the United States government is, we will still have to ensure that the force that India has in Dicht Dicht and Bigte Whicunt and Bigout promoted,” he said.
The minister said that the strength of this demand would be attentive to foreign direct investment (FDI) and international manufacturing to supply the domestic market and also export from India.
“We believe that India and some emerging markets will be growth engines. World depressed growth, if you have to retake, it will have to be because or these engines,” he said.
She admitted that given the global interconnection, the Indian economy is not isolated from the global risks and challenges that arise due to geopolitical tensions, commercial interruptions and the volatility of the financial market.
“The navigation of these winds against requires strategic policies interventions with a strong emphasis on strengthening domestic capacities and abilities.
“In this phase of a global policies that evolve rapidly, with a series of imponderables, the conviction of the Government is that the most effective path to developing economic resilience is to encourage domestic efficiency and UGE said, said Pointe.
Duration an interaction session with Lord Nicholas Stern and NK Singh-Co-Shoirs of the Advisory Board of the School of Economy (LSE) Indian: the minister reflected on a change of multilateralism towards greater bilateralism.
With Reference to the India-Uk Bilateral Ties, The Minister Sacrificed Sub Insights Into The Focus Areas for the 13th Ministerial Economic and Financial Dialogue (EFD) Schedulated for Wednesday-Including Closer Cooperation Between The Financial Ties of The Two Countries and Stontries and Strontries and Strontries and Strontries and Strontries and Strontries and Strontries and String Strontries and Strontries and Strontries and Strontries and Strontries and Strontries and Strontries and Strontrías y Strontías y Strontries and Strontries and Strontries and Strontries 2020 to welcome the universities of the United Kingdom to India.
“We will also cover the mutual recognition of certain professions, which is important for both countries and science and technology where the United Kingdom occupies some main research positions and India would like search and collaboration,” he said.
“We will also seek to conclude the investment treaty, which also has a leg in parallel to the TLC negotiations,” he shared.
When asked if FTA conversations acquire additional urgency in the context of the United States commercial rates, the minister said: “India’s negotiations with the United Kingdom in the FTA have been underway for a long time, they resumed after Brexit since February 2022.
“So, it is not as if we rush to a FTA because something of the US has been developed. This is this, this is this, this is, this is this, this is this this is this this year, this agreement is this agreement, this is agreed. As long PLC, earlier on Tuesday.
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The Gift City International Financial Services Center was among the covered issues, with prudential encouraged to explore a deeper commitment to the ecosystem it offers, even in areas such as global reinsurance services, and also considers Gift City services.
Fathera informed the Minister of Finance on the next company of the British Asset Management Giant in the Health Insurance space in India.
(This story has not been edited by News18 staff and is published from a FEED – PTI syndicated news agency)
- Location:
London, United Kingdom (United Kingdom)
