No Country Can Ignore India: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman emphasized that India’s growing influence makes it impossible for any country, whether the US or China, to overlook its significance on the global stage. Speaking at a panel discussion titled “Bretton Woods Institutions at 80: Priorities for the Next Decade,” organized by the Centre for Global Development, she highlighted that one in every six people in the world is Indian, underscoring the importance of India’s economy.

Sitharaman stated, “No country can ignore us, whether it’s the US, which is far away, or China, which is very close.” She stressed India’s commitment to multilateral institutions and asserted that the country has never sought to undermine them. However, she noted a growing concern that these institutions are not delivering effective solutions, leading to waning expectations.

Discussing the role of emerging markets like India, Sitharaman pointed out that India aims to enhance its influence without imposing dominance. She mentioned, “We have the largest democracy and population, but we seek to enhance our influence because today, you cannot ignore how rapidly our economy is growing.”

She also highlighted the skilled workforce in India that plays a vital role in major corporations globally. “In the past, the path to development was different; today, it is evolving,” she said, indicating that India can define a new developmental path leveraging technology.

Sitharaman further criticized the current state of multilateral institutions, urging them to become more proactive in sharing information and supporting countries rather than merely reacting to global events. She advocated for strengthening these institutions for the global good, stating, “We need them to share information timely and help build institutional strength, not tear it down.”

In her remarks, she acknowledged India’s initiatives such as the International Solar Alliance and disaster-resilient infrastructure efforts, emphasizing the need for financial support for smaller economies.

Sitharaman arrived in Washington, DC, where she was welcomed by India’s Ambassador to the US, Vinay Kwatra, after her visit to New York.