India Pursuing Trade Agreements with US and EU, Finance Minister Nirmala Sitharaman States

Finance Minister Nirmala Sitharaman has stated that India's efforts to finalize trade agreements with the United States and the European Union are progressing strongly. Speaking in Mumbai, she indicated that negotiations are ongoing and the country awaits final outcomes. Sitharaman also elaborated on India's economic philosophy of 'Atmanirbharta' (self-reliance), emphasizing that it does not equate to isolationism. Instead, she described it as resilient interdependence, where India aims to meet domestic needs robustly while remaining deeply integrated with global trade and supply chains. She explained that the Atmanirbhar Bharat initiative is about building an India that creates, innovates, and produces for both domestic consumption and the world, standing on pillars of self-confidence, entrepreneurship, compassion, and responsibility. This approach aligns with the long-term goal of making India a developed nation by 2047, known as Viksit Bharat. The groundwork for this mission began prior to its widespread use, accelerating now in manufacturing, innovation, and global trade relationships.

Impact: 7/10

Difficult terms explained: Atmanirbharta: A Sanskrit term meaning 'self-reliance' or 'self-sufficiency'. In the Indian context, it refers to a policy aiming to boost domestic production and consumption, reduce dependence on imports, and foster innovation within the country. Viksit Bharat: Literally meaning 'Developed India', this refers to the vision of India becoming a developed nation by 2047. Resilient interdependence: A state where different entities (nations, economies) rely on each other but are also strong enough individually to withstand shocks and disruptions.