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India an island of calm in a challenging global environment, says FM Sitharaman

The Indian economy is an island of relative calm in a challenging global environment, Finance Minister Nirmala Sitharaman said on November 2.

"Between 2020 and today, we seem to have come out to a situation where the challenges continue, the newer challenges are also building up but India is seen as an island of certain level of calm," the finance minister said in Bengaluru at the Invest Karnataka Summit.

While India still had its share of challenges, they were not to the size that would threaten the country, she said.

Sitharaman attributed India's bright prospects to the government's "careful planning, targeted facilitation, fiscal prudence" and understanding of the Indian economy.

"Honourable Prime Minister led from the front and made sure the Indian economy will not be severely threatened by the developments outside, ensured that handholding will happen, targeted supports were extended to industries that were required particularly the MSMEs (micro, small, and medium enterprises), and made sure the Indian economy would be very carefully navigated through this challenge that we face," she said.


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