Overview

• Speaking at KEC 2025 in New Delhi, the finance minister said sanctions, tariffs and decoupling are reshaping supply chains in a long-term shift rather than a passing disruption.
• She reiterated that sustaining 8% GDP growth is essential to the Viksit Bharat 2047 objective and clarified that self-reliance does not imply a closed economy.
• She asserted that India’s growth is anchored in domestic drivers and that the economy has strong capacity to absorb external shocks even as global rules are rewritten.
• She called for stronger, reformed multilateral institutions to restore confidence and better reflect current realities across trade, finance and energy.
• She warned of hard choices for developing nations, from energy transition versus security to adapting to new monetary architectures such as stablecoins, while separate reports have suggested a fresh US tariff layer on Indian goods that has not been universally corroborated.