In a powerful speech at the Kautilya Economic Conclave in Delhi, India's Finance Minister Nirmala Sitharaman emphasized the nation’s ambitious plan to double its per capita income in the coming years. Speaking to an audience of policymakers, economists, and industry leaders, Sitharaman highlighted India’s path toward economic growth despite significant global challenges.
She noted that India's 1.4 billion people, which account for nearly 18% of the world’s population, are navigating a "fragmented and fractured" global landscape, marked by persistent conflicts that threaten global peace—the foundation of global prosperity.
The Finance Minister stressed that India’s development is directly tied to the world’s stability and warned that ongoing tensions and conflicts could potentially derail economic progress worldwide.
India’s journey toward doubling its per capita income, however, won’t be without its hurdles. Sitharaman identified two major challenges facing the country: managing the legacy emissions from developed nations and addressing the nation’s own energy transition.
While India is pushing towards greener energy, it still faces the need to balance this transition with its development needs, which are energy-intensive.
The Finance Minister also pointed out the irony of developing nations like India having to deal with the consequences of emissions from industrialized countries, while also being expected to lead in sustainable energy initiatives.
Yet, Sitharaman maintained that India is committed to addressing both its environmental responsibilities and its economic goals in tandem.
She concluded her speech by reaffirming India’s determination to overcome these global challenges, work towards sustainable development, and achieve significant growth for its vast population.
By focusing on a long-term vision, India seeks not only to double its per capita income but also to position itself as a key player in the global economy.
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