Nirmala Sitharaman: Bold Trade Reforms And Low NPA Propel India’s Economic Future!

In her address at the Kautilya Economic Conclave 2024, Finance Minister Nirmala Sitharaman highlighted India’s financial resilience and policy priorities. She emphasized the historic low in the NPA ratio of banks and the introduction of efficient bank recovery mechanisms, which ensure the long-term stability of the financial system. Sitharaman also discussed the government's focus on trade policy reforms, facilitating easier trade for exporters, and deepening ties with geopolitically aligned nations under the Foreign Trade Policy 2023. Notably, India achieved an impressive 93.5% in the 2023 UN Global Survey on Trade Facilitation, reflecting the success of policies like 'Make in India' and Districts as Export Hubs. She stressed the importance of free trade agreements with key partners like Australia and the UAE and reinforced the government's commitment to investment reforms, ease of doing business, and a multi-pronged regulatory approach to boost efficiency, all under the principle of “Minimum Government, Maximum Governance."