India driving global growth, says Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has said India is now driving global growth and can become the bridge between the developed world and the global south.

“India is now driving the growth engine of the world and it can become the bridge between the developed Western world and the Global South. As India continues onwards to the path of financial prominence on the global stage, the people of India want to become innovators and entrepreneurs, and GIFT City can help in realising these aspirations,” Finance Minister Sitharaman says addressing a seminar ‘GIFT City-An Aspiration of Modern India’, organised as part of the 10th Vibrant Gujarat Global Summit 2024, at Gandhinagar.

Sitharaman says the vision of Prime Minister Narendra Modi to see India as a developed country by 2047 is a “bold one” as he is confident that India is rising on its strengths.

“The people of India now want to be innovators and entrepreneurs, and together they will contribute towards making a Viksit Bharat. The biggest requirement in making India a developed nation by 2047 is that we should boldly move forward having a stable government and a visionary leader leading the way. India cannot be lagging with the principles which have held us back for the last 70 years,” Sitharaman adds.

“In India, the fintech adoption rate is 87% against the global average of 64%. It shows the important role, which technology is playing in financial inclusion & empowerment across the nation. That's why GIFT City should be the place for finance & technology-related entrepreneurs. We aim to build a diverse fintech laboratory for the world & address the three broad needs – Indian fintech firms wanting to go global should be here, foreign fintech firms who want to come to India and Indian fintech firms aiming to grow business and who would want to work within a regulatory sandbox,” she adds.