Resource security key as global economy faces uncertainty: Finance minister
Indian Finance Minister Nirmala Sitharaman emphasized the need for structural autonomy in strategic inputs to ensure national security amidst global economic uncertainty. She advocated for shifting away from cost-optimized supply chains toward domestic operational depth in sectors like semiconductors and critical minerals.
Why it matters
The speech highlights a growing global trend of 'de-risking' and economic nationalism, where nations prioritize supply chain resilience over pure cost efficiency to protect against geopolitical shocks.
NEW DELHI: Union finance minister Nirmala Sitharaman on Saturday said that amid uncertainty, “now a standing condition” of the global economy, national security requires structural autonomy in strategic inputs, as strategic resource security sits at the centre of macroeconomic policy.Besides, she argued for private investment to lead the cycle, including in research and innovation and skilling to prepare people for a changing world of work, while asserting that global financial architecture should reflect where growth was coming from.“We need to keep building resilience as we go along; it’s not a one-time exercise.
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