Structural reforms making India attractive destination

Washington: India’s structural reforms approach has ensured that it remains a globally attractive destination for investment and the country is well-positioned in the global economy, allowing it to grow briskly, possibly faster, in the coming years, Union Finance Minister Nirmala Sitharaman has said. India’s journey from the 10th largest economy in dollar terms in 2014 to becoming the world’s 5th largest economy been one of steady acceleration in growth amidst global and domestic challenges, she said on Monday during a fireside chat at the Peterson Institute for International Economics.

Sitharaman said India has integrated its economy with global trade and financial flows, while ensuring a higher standard of living and improved quality of life for Indian households.

“The structural reforms approach has ensured that India remains a globally attractive destination for investment, supported by the rising domestic consumption of the middle class, robust infrastructure push by the government, sustainable fiscal health and a vibrant class of domestic institutional investors,” she said. In her prepared remarks on 'Resilience of the Indian Economy amidst tightening of financial conditions', she said that India is well-positioned in the global economy.