Summary:

Union Finance Minister Nirmala Sitharaman suggested that India and the United States could strengthen economic ties by investing in critical sectors such as semiconductors, nuclear energy, pharmaceuticals, and quantum computing. Speaking at Stanford University, she noted a threefold increase in trade barriers since 2019, highlighting the need to rebalance global trade. She emphasized manufacturing as a key job creator, with a goal to raise its employment share from 12% to 23% through focus on sunrise sectors.

Over the past decade, the government has prioritized infrastructure to drive manufacturing-led growth and boost investor confidence. This effort has been supported by a fourfold increase in capital expenditure between the FY18 and FY26 budgets. To sustain long-term growth, the Finance Minister stressed the importance of bold reforms, stronger domestic capabilities, revitalized partnerships, and adaptive strategies—building on the multi-sectoral policy agenda laid out in the last two Union Budgets.

Source: IBEF

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