India aims for 25% share in global trade: Finance Minister Nirmala Sitharaman
Finance Minister emphasizes India’s macroeconomic stability, entrepreneurial ecosystem, and export driven reforms at India Economic Conclave
New Delhi, Dec 17: India is aiming to capture a 25 per cent share of global trade in the coming years by leveraging its strong macroeconomic foundations, resilient growth trajectory, and rapidly expanding entrepreneurial ecosystem, said Finance Minister Nirmala Sitharaman on Wednesday.
Addressing the India Economic Conclave in Delhi, Sitharaman highlighted the evolving global trade landscape, noting that tariff restrictions and strategic barriers are increasingly being used as tools in international commerce. Despite these geo-economic challenges, she stressed that India is prepared to engage constructively with global partners to ensure fair and rules based trade.
“India believes in dialogue over isolation,” Sitharaman said, adding that the country will negotiate firmly yet constructively to safeguard its interests while converting global uncertainties into opportunities by leveraging domestic strengths.
The Finance Minister underlined India’s resilience, stating that the nation’s steady, people driven growth is rooted in decades of consistent adaptation to both global and domestic changes. She pointed to financial inclusion initiatives that have brought millions into the formal banking system, providing improved access to savings, credit, and insurance.
Sitharaman also highlighted social development efforts, including childcare support, policies to increase women’s workforce participation, large scale affordable housing, and enhanced basic healthcare services. Infrastructure improvements, such as expanded highways and better rural connectivity, were credited with reducing regional disparities and boosting economic efficiency.
The Finance Minister emphasised the growth of India’s entrepreneurial ecosystem, noting that innovation and enterprise are spreading beyond major cities to smaller towns and rural areas. She advocated for export-related facilities targeted directly at entrepreneurs and small businesses, which, she said, would broaden participation in global trade.
Digitalisation in finance, according to Sitharaman, has strengthened the formal credit system, making individual credit footprints visible and portable, while reducing dependence on informal lending.
Highlighting sectoral strengths, she said the services sector contributes over 60 per cent of India’s GDP and remains a key driver of growth and employment, supporting India’s global trade ambitions. She also stressed the importance of innovation-led growth, citing initiatives like Atal Tinkering Labs, which cultivate scientific thinking, creativity, and problem-solving skills among students.
On fiscal management, Sitharaman said the government’s focus on transparency, accountability, and prudent policy-making has strengthened macroeconomic stability. Despite global headwinds, India has gradually reduced its debt-to-GDP ratio post-Covid, boosting credibility in global financial markets and investor confidence.
“India’s resilience, combined with strategic reforms and innovation driven growth, positions the country to emerge as a major player in global trade,” the Finance Minister concluded.
