Finance Minister Nirmala Sitharaman on Tuesday underscored the importance of trade agreements for India’s growth story, even as she cautioned against complacency amid volatile global conditions. Speaking at the NDTV Profit Conclave, Sitharaman said each trade deal signed by India has a tangible impact on exporter confidence.
“Each trade deal lifts the spirits of exporters. Every trade deal is important for India,” she said, her comments coming on the same day the framework for an India-US trade deal was announced. Sitharaman stressed that trade agreements are not just about tariff lines but about providing predictability and market access for Indian businesses.
Growth Strong, But Realism Needed
While highlighting India’s macroeconomic strength, the finance minister struck a note of realism on growth expectations. “Every macroeconomic indicator is at its recent best,” she said, pointing to resilience in the economy despite global headwinds. However, she added that policymakers need to remain grounded. “We need to be realistic about growth numbers,” Sitharaman said, flagging volatile global uncertainties and external challenges as key risks.
She noted that geopolitical tensions, shifting capital flows, and uneven global recovery could continue to weigh on trade and investment decisions, making caution essential even in a relatively strong domestic environment.
Private Sector Role Critical
Sitharaman also emphasised that sustaining growth will require deeper participation from India’s private sector. “We need India’s private sector to participate in growth,” she said, adding that public investment alone cannot carry the economy to its long-term ambitions.
Echoing this optimism, Commerce and Industry Minister Piyush Goyal said earlier that the India-US trade framework could unlock “huge potential” across sectors, with the possibility of bilateral trade reaching $500 billion in the next five to six years. Goyal described the feedback on the proposed deal as positive and said negotiations were smooth and cooperative.
Essential Business Intelligence,
Continuous LIVE TV,
Sharp Market Insights,
Practical Personal Finance Advice and
Latest Stories — On NDTV Profit.
