India’s domestic demand big magnet amid US trade tariffs: Nirmala Sitharaman

LONDON: Finance Minister Nirmala Sitharaman said on Tuesday that the resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs.

In an interaction entitled the ‘Opportunities and challenges for India’s quest to become a developed economy by 2047’ at the High Commission of India in London, she asserted that the economy was well placed to capitalise on domestic efficiencies and competitiveness as it tackles global headwinds.

“The world has seen depressed growth for over several years; earlier, it was low interest for long and now it’s going to be low growth for long, and that’s not happy news for anybody,” said Sitharaman, who is here on her first UK. PTI