Mumbai, 17 April (IANS). Finance Minister Nirmala Sitharaman said on Thursday that India will deal with the challenges in global trade through its right policies and long -term investment.
Addressing the ceremony organized on the occasion of completion of 150 years of Bombay Stock Exchange (BSE), the Finance Minister said that the increase in tariff war and protectionism is expected to be upheaval in the global supply chain. This will increase production costs and will bring uncertainty in investment decisions all over the world.
He further said that India’s strong economic base and stability have emerged amid global fluctuations, uncertainty.
Sitharaman said, “We provide a mixture of policy stability and development, governance and innovation to investors.”
The Finance Minister further said, “We will deal with global fluctuations from the right policy and long-term investment.”
Sitharaman also said that despite recent global uncertainties, India’s financial markets have shown strength, which reflects confidence in the markets of retail investors.
After the announcement of tariff growth by the US, the Indian markets had more stability than other markets after the upheaval in stock markets around the world.
Currently, the recipe crocal tariff growth by President Donald Trump has been postponed for 90 days amid bilateral trade talks between India and the US.
The first phase of the bilateral trade agreement between India and the US is expected to be completed within the 90-day tariff-period fixed by the Donald Trump administration.
Commerce Secretary Sunil Barthwal told reporters this week, “India has decided to follow the path of trade liberalization with the US.”
He said that if the trade agreement is completed before the end of 2025, then both India and America will benefit.
According to senior officials, the terms of the agreement have been finalized and further interactions are mainly going to be held through video conferencing. However, if necessary, Indian officials can visit Washington or US officials may come to Delhi.
-IANS
ABS/
