India aspire for 25 pc contribution in global trade: Nirmala Sitharaman

New Delhi, Dec 17 ( UNI) India is working towards securing 25 per cent of global trade in the coming years by building on its strong macroeconomic foundations, resilient growth trajectory and rapidly expanding entrepreneurial ecosystem, said Finance Minister Nirmala Sitharaman.
The Finance Minister was addressing the India Economic Conclave in Delhi on Wednesday.
She said the global economic landscape is undergoing a major shift, with trade increasingly getting weaponised through tariff restrictions and strategic barriers. These developments, she noted, pose fresh geoeconomic challenges for emerging and developed economies alike. However, the Finance Minister said that India remains prepared to engage with the changing global trade environment through dialogue and negotiation.
India will negotiate firmly but constructively to protect its interests while ensuring that global trade remains fair and rules-based, Sitharaman said. She underlined that India believes in engagement rather than isolation and will continue to work with global partners to address distortions in trade. Despite these challenges, Sitharaman said India is confident of converting global uncertainties into opportunities by leveraging its domestic strengths. She emphasised that India’s growth has been steady and people-driven, and not dependent on short-term policy measures.
“The resilience of India is the real story,” she said, adding that this resilience has been built consistently over decades. From the post-Independence period to the present, India has repeatedly adapted to changing global and domestic conditions while responding to the aspirations of its people. Referring to the past ten years, the Finance Minister said India has entered a decisive phase of transformation. She pointed to the rapid expansion of financial inclusion, which has brought millions of citizens into the formal banking system and improved access to savings, credit and insurance.
She said sustained efforts have also been made in social development, including childcare support, policies aimed at increasing women’s participation in the workforce, and large-scale delivery of affordable housing. These measures, she said, have strengthened economic participation and social security. The Finance Minister highlighted significant improvements in infrastructure, particularly the provision of clean drinking water to rural households, expansion of highways and improved road connectivity across regions. She said these investments have helped reduce regional disparities and improved economic efficiency.
She also referred to efforts to strengthen basic and minimum healthcare services, noting that better access to health facilities has improved quality of life and workforce productivity.
Sitharaman said India’s entrepreneurial ecosystem has grown substantially, supported by reforms, digital public infrastructure and wider access to finance. She noted that innovation and enterprise are now emerging beyond major cities, reaching smaller towns and rural areas.
While acknowledging the role of Special Economic Zones in promoting exports, she said the focus must now shift towards providing export-related facilities directly to entrepreneurs and smaller businesses. This approach, she said, will allow more firms to participate in international trade.
Sitharaman added that the digitalisation of finance has made the credit footprint of every Indian visible and portable, reducing dependence on informal lending and strengthening the financial system.
Highlighting sectoral strengths, the Finance Minister said the services sector contributes over 60 per cent to India’s gross domestic product and remains a key driver of growth and employment. She said the sector will play a crucial role in supporting India’s expanding global trade ambitions.
The Finance Minister also stressed the importance of innovation-led growth and referred to initiatives such as Atal Tinkering Labs in schools, which are encouraging scientific thinking, creativity and problem-solving skills among students. According to her, such initiatives are essential for preparing India for future technologies.
On fiscal management, Sitharaman said the Centre’s focus on transparency, accountability and prudent policymaking has strengthened macroeconomic stability. She said India has been able to gradually reduce its debt-to-GDP ratio in the post-Covid period, despite global headwinds. Sitharaman added that improved fiscal discipline has enhanced India’s credibility in global financial markets and strengthened investor confidence, placing the country in a better position to manage external shocks.