Finance Minister Nirmala Sitharaman described India as a ‘stabilising force’ in the current uncertain global economy during the fourth edition of the Kautilya Economic Conclave 2025 in New Delhi.
The event, themed ‘Seeking Prosperity in Turbulent Times’, highlighted the evolving challenges and opportunities facing nations amid shifting global dynamics.
Sitharaman emphasised that the foundations of global trade, alliances, and financial systems are undergoing significant change.
“The international order is morphing. Trade flows are being reshaped, alliances are being tested, investments are being rerouted along geopolitical lines, and shared commitments are being re-examined,” she noted in her inaugural address.
The Finance Minister cautioned that describing the present moment as merely ‘turbulent’ would be an understatement.
She underlined that omnipresent uncertainty has become the new norm and that the world is experiencing not just disruption but a “structural transformation.”
She highlighted the shifts in global power, observing that the dominance of a single nation has given way to contestation, with Asian countries asserting alternative models of growth and governance.
Sitharaman posed critical questions about the emerging global equilibrium: “What will the new balance look like? Who will shape it, and on what terms?”
India’s Role as a Reliable Pillar
Sitharaman highlighted India’s stability, pointing to fiscal consolidation, structural reforms, and inflation control. She stressed that India’s growth is firmly anchored in domestic factors, minimising the impact of external shocks.
The minister also drew attention to the difficult trade-offs facing developing economies, including balancing energy security with energy transition, sustaining growth while ensuring environmental sustainability, and fostering innovation alongside job creation.
Sitharaman underscored how ‘trade, financial, and energy asymmetries’ have created distortions in the international order. She urged nations to build a system where trade is fair, finance serves productive ends, energy remains affordable and sustainable, and climate action aligns with development imperatives.
She also pointed to emerging disruptions, including digital currencies and geopolitical conflicts, which require rapid adaptation.
“Our capacity to absorb shocks is strong, while our economic leverage is evolving. Our choices will determine whether resilience becomes a foundation for leadership or merely a buffer against uncertainty,” she remarked.
Concluding her address, Sitharaman called for proactive engagement in shaping global outcomes.
“We cannot afford to be passive spectators in a world where decisions elsewhere determine our destinies. We must be active participants, shaping outcomes where possible and preserving autonomy where necessary,” she said.
She urged policymakers and stakeholders to treat the present moment as an inflexion point, a chance to define the contours of a future built on resilience, leadership, and sustainable growth.
This address reinforced India’s position as a strong, stable, and resilient economy, capable of navigating global uncertainty while shaping its own development trajectory.
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