PIIP Summit: Union Finance Minister Nirmala Sitharaman, who is on her trip to the United States, took a dig at the West and its media for constructing a negative outlook against India and the business establishments.
While speaking at the event of Peterson Institute for International Economics– an American think tank based in Washington– she lambasted the Western media which has a tendency to document only inimical happenings to create an atmosphere of anxiety among the business fraternity.
Sitharaman staunch message to West
Sitharaman, in a staunch message to the West, suggested that foreign investors should at least visit New Delhi despite believing in fake propaganda.
“Foreign investments have kept coming to India. I would tell the prospective investors to come and look at what’s happening in India rather than listening to perceptions being built by people who’ve not visited the ground but writing reports,” said the finance minister.
WTO should heed, says Sitharaman
Further, Sitharaman also slammed the World Trade Organisation (WTO) for its predisposition about certain issues. She said the organisation should be more progressive and fair to all members and added it must give a voice to all.
“WTO should be more open about issues. WTO has to be progressive and fair to all members. It has to give voice to all and not just hear but also heed,” added Sitharaman.
“There’s a continuation of a moratorium since 1998 on electronic transmissions despite evolution to the digital age. Shouldn’t there be a change in WTO policy in terms of the moratorium? We don’t have to reverse the benefits of globalisation but make it more transparent,” she noted.
While speaking about the Free Trade Agreements, the minister asserted New Delhi has signed an agreement with several countries including Australia, UAE, Mauritius and ASEAN. Also, she maintained that the Finance Ministry has also extended quota-free and tariff-free regimes to Least Developed Countries.
“It’s the resilience of Indian people..” Sitharaman
When asked about Indian economic growth post-pandemic, she asserted New Delhi is performing exceptionally well at a time when other nations are reeling under record inflation and the least output level. “It’s the resilience of Indian people to take it upon themselves, to take the challenge and come out in their businesses despite tragedies at home,” Sitharaman on the revival of the Indian economy post-pandemic.
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