Daijiworld Media Network - Mumbai

Mumbai, Apr 17: Finance Minister Nirmala Sitharaman on Thursday asserted that India is well-prepared to navigate global economic turbulence, including ongoing trade tensions, by leveraging smart policymaking and robust long-term investments.

Speaking at the 150th anniversary of the Bombay Stock Exchange (BSE), Sitharaman acknowledged the disruptive impact of rising protectionism and tariff wars on global supply chains and investment confidence. Yet, she emphasized that India’s strong economic fundamentals set it apart.

“In a world filled with volatility and uncertainty, India stands out with its policy stability, governance strength, and innovation-driven growth,” she said.

The Finance Minister highlighted the resilience of Indian financial markets, attributing it to growing investor trust—especially from retail and domestic institutional investors, whose role has evolved from supportive to central in driving the markets.

Despite global shocks triggered by US tariff hikes, Indian stock markets have demonstrated notable stability. This comes after a temporary 90-day suspension of tariff hikes on Indian goods by the US, giving both nations time to finalize the first phase of a Bilateral Trade Agreement (BTA).

Commerce Secretary Sunil Barthwal confirmed that negotiations with the US are progressing steadily, with hopes to conclude the deal ahead of the fall 2025 timeline. The pact aims to lower trade barriers and pave the way for expanded commerce between the two countries.

The trade agreement is part of a broader target set by Prime Minister Narendra Modi and former US President Donald Trump to boost bilateral trade to $500 billion by 2030.

India’s approach, Sitharaman noted, is to remain open to global opportunities while protecting its domestic economy through smart and timely interventions.