During her ongoing U.S. visit, Union Finance Minister Nirmala Sitharaman has said that India’s spirit of recovery will not wane out and that the country’s growth and the desire to expand are sustainable. FM said that even though the world is facing a recession, Indian exporters have found new markets. During a public interaction at the Peterson Institute for International Economics, at Washington DC, Sitharaman said, “Indians have found newer markets when recession has hit the traditional markets. For instance, textile, and apparel sectors which traditionally would go to Europe are finding newer markets as Europe is no longer a prosperous market due to the foreboding of recession. Similarly, moving out of the pandemic, agriculture found newer markets outside.”
“The spirit, with which we see it as an opportunity sustains, even as a recession is very clearly documented. India’s growth and desire to expand is sustainable and that itself will further trigger growth,” said Sitharaman.
