Atmanirbhar Bharat: Nirmala Sitharaman unveils vision for India’s self reliance
Addressing he 12th SBI Banking and Economics Conclave, Union Finance Minister Nirmala Sitharaman highlighted that self-reliance does not imply isolation, but rather resilient interdependence, enabling India to meet its domestic needs while participating in global economic growth.
- Nov 6, 2025,
- Updated Nov 6, 2025 5:32 PM IST
Union Finance Minister Nirmala Sitharaman addressed the 12th SBI Banking and Economics Conclave, presenting a detailed roadmap for achieving Atmanirbhar Bharat (self-reliant India), emphasising data-driven policies and initiatives that aim to foster India’s self-reliance while engaging in global value chains. Sitharaman highlighted that self-reliance does not imply isolation, but rather resilient interdependence, enabling India to meet its domestic needs while participating in global economic growth.
In her speech, Sitharaman outlined five critical pillars necessary for realizing the vision of Atmanirbhar Bharat, each supported by key data points that demonstrate India's progress:
Economic Self-Reliance (Arthik Atmanirbharta): Sitharaman emphasized that India’s path to economic self-reliance lies in diversifying production and creating sustainable wealth. She noted the significant rise in capital expenditure allocations, which have increased nearly fivefold—from ₹2.30 lakh crore in 2013-14 to ₹11.21 lakh crore in 2025-26. Infrastructure projects like metro rail have expanded significantly, with metro lines operational or under construction in 23 cities. By May 2025, India will have 1,000 km of metro lines, up from 250 km in 2014. Additionally, port capacity has doubled to 2,762 MMTPA, and vessel turnaround times have improved by almost 50%. Financial inclusion has been a core focus, with 56 crore Jan Dhan accounts opened and 52 crore MUDRA loan accounts supporting millions of small entrepreneurs. The PLI Scheme has also driven the growth of domestic manufacturing, with exports surpassing ₹5.31 lakh crore (approximately $61.76 billion) and creating over 12 lakh jobs.
Social self reliance: Sitharaman described social self-reliance as empowering individuals through dignity, security, and opportunity. Over the past 11 years, the government has implemented key welfare schemes, including the construction of 4 crore PMAY houses and the provision of 15 crore tap-water connections. Additionally, 12 crore toilets and 10 crore LPG connections have been provided. To ensure financial inclusion, over 81 crore people now receive free rations. In education, the number of universities has grown from 760 in 2014 to 1,340 in 2025, and the number of colleges has risen from 38,500 to 52,000. Sitharaman also highlighted the expansion of medical institutions, with 17,000 Jan Aushadhi Kendras providing affordable medicines.
Technological self reliance: Technological self-reliance is a cornerstone of India’s strategy. With 116 crore mobile subscribers and data costs reduced from ₹300 per GB in 2014 to just ₹10 per GB today, India has bridged the digital divide. Sitharaman highlighted the government's support for emerging sectors like drones and space, fostering private sector growth and innovation. India is now a net exporter of mobile phones, thanks to the PLI Scheme for electronics manufacturing.
Strategic self reliance: Sitharaman underscored India’s increasing defense capabilities, with defense production rising to ₹1.51 lakh crore in 2024-25. India's defense exports have increased 34-fold since 2014, reaching a record ₹23,600 crore in FY25. She also pointed out India's role as a first responder in humanitarian crises globally.
Energy self reliance: On the energy front, Sitharaman celebrated India’s achievement of its Nationally Determined Contribution (NDC) target of 40% of electricity capacity from non-fossil fuel sources, reached nine years ahead of the 2030 deadline. India has also taken a leadership role in the International Solar Alliance (ISA).
Despite global challenges like fragile supply chains and climate transition costs, Sitharaman urged collaboration across government, industry, and citizens to achieve sustained progress. She stressed the importance of continuous reforms, innovation, and fiscal prudence to maintain long-term stability and economic growth.
Union Finance Minister Nirmala Sitharaman addressed the 12th SBI Banking and Economics Conclave, presenting a detailed roadmap for achieving Atmanirbhar Bharat (self-reliant India), emphasising data-driven policies and initiatives that aim to foster India’s self-reliance while engaging in global value chains. Sitharaman highlighted that self-reliance does not imply isolation, but rather resilient interdependence, enabling India to meet its domestic needs while participating in global economic growth.
In her speech, Sitharaman outlined five critical pillars necessary for realizing the vision of Atmanirbhar Bharat, each supported by key data points that demonstrate India's progress:
Economic Self-Reliance (Arthik Atmanirbharta): Sitharaman emphasized that India’s path to economic self-reliance lies in diversifying production and creating sustainable wealth. She noted the significant rise in capital expenditure allocations, which have increased nearly fivefold—from ₹2.30 lakh crore in 2013-14 to ₹11.21 lakh crore in 2025-26. Infrastructure projects like metro rail have expanded significantly, with metro lines operational or under construction in 23 cities. By May 2025, India will have 1,000 km of metro lines, up from 250 km in 2014. Additionally, port capacity has doubled to 2,762 MMTPA, and vessel turnaround times have improved by almost 50%. Financial inclusion has been a core focus, with 56 crore Jan Dhan accounts opened and 52 crore MUDRA loan accounts supporting millions of small entrepreneurs. The PLI Scheme has also driven the growth of domestic manufacturing, with exports surpassing ₹5.31 lakh crore (approximately $61.76 billion) and creating over 12 lakh jobs.
Social self reliance: Sitharaman described social self-reliance as empowering individuals through dignity, security, and opportunity. Over the past 11 years, the government has implemented key welfare schemes, including the construction of 4 crore PMAY houses and the provision of 15 crore tap-water connections. Additionally, 12 crore toilets and 10 crore LPG connections have been provided. To ensure financial inclusion, over 81 crore people now receive free rations. In education, the number of universities has grown from 760 in 2014 to 1,340 in 2025, and the number of colleges has risen from 38,500 to 52,000. Sitharaman also highlighted the expansion of medical institutions, with 17,000 Jan Aushadhi Kendras providing affordable medicines.
Technological self reliance: Technological self-reliance is a cornerstone of India’s strategy. With 116 crore mobile subscribers and data costs reduced from ₹300 per GB in 2014 to just ₹10 per GB today, India has bridged the digital divide. Sitharaman highlighted the government's support for emerging sectors like drones and space, fostering private sector growth and innovation. India is now a net exporter of mobile phones, thanks to the PLI Scheme for electronics manufacturing.
Strategic self reliance: Sitharaman underscored India’s increasing defense capabilities, with defense production rising to ₹1.51 lakh crore in 2024-25. India's defense exports have increased 34-fold since 2014, reaching a record ₹23,600 crore in FY25. She also pointed out India's role as a first responder in humanitarian crises globally.
Energy self reliance: On the energy front, Sitharaman celebrated India’s achievement of its Nationally Determined Contribution (NDC) target of 40% of electricity capacity from non-fossil fuel sources, reached nine years ahead of the 2030 deadline. India has also taken a leadership role in the International Solar Alliance (ISA).
Despite global challenges like fragile supply chains and climate transition costs, Sitharaman urged collaboration across government, industry, and citizens to achieve sustained progress. She stressed the importance of continuous reforms, innovation, and fiscal prudence to maintain long-term stability and economic growth.