Finance Minister Nirmala Sitharaman on April 11 participated in a roundtable organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the US-India Strategic Partnership Forum (USISPF).
FICCI president Subhrakant Panda welcomed Finance Minister Sitharaman at the roundtable organized on the sidelines of the spring meetings of the IMF and World Bank, according to a media report. Indian Ambassador to the US, Taranjit Singh Sandhu also participated in the event.
According to a press statement by the FICCI, Sitharaman emphasized the partnership and investment opportunities in India, especially in the field of digitization, infrastructure, environment & climate change, artificial Intelligence, electric mobility and GIFT city. She elaborated on structural reforms undertaken by the government in the Union Budget 2023-24 to achieve the vision of New India during Amrit Kaal and its renewed role in the global economic order for the next 25 years.
FICCI president stressed the role of the Indian government in creating an enabling environment for business growth. He mentioned that the country offers a unique opportunity for global investors, "not merely due to higher growth but also owing to the size of the economy, demographics and a stable and supportive policy environment." He also highlighted the transformational policy reforms seen across the country’s industrial landscape, governance structures, delivery of social services, and all other economic and developmental areas.
On prospects for the upcoming decade, Panda recognized the Indian government's continued efforts, building foundations for competitive manufacturing through lower tax rates and schemes like Production Linked Incentive (PLI), laying a thrust on the digital economy. He highlighted the country's participation towards global action, including climate change, disaster risk management, digital financial inclusion, women empowerment, frontier technologies, and vaccine successes.