Overview

• The finance minister said sanctions, tariffs and decoupling are reshaping supply chains as geopolitical conflicts intensify.
• She described alliances being tested and new coalitions forming, calling the moment a structural transformation rather than a passing shock.
• India’s growth, she said, is anchored in domestic drivers and can absorb external shocks, citing reforms, higher capital expenditure and controlled inflation.
• Hitting the Viksit Bharat target requires sustained 8% GDP growth, with self-reliance pursued alongside open global engagement.
• Her remarks followed reports of a US–India trade standoff, with multiple outlets saying Washington added a further 25% tariff on Indian imports on top of an existing 25% duty.