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Indian finance minister warns of state debt risks, pushes manufacturing and trade growth for 2047 vision.
Finance Minister Nirmala Sitharaman warned of rising fiscal stress in some Indian states due to high debt-to-GDP ratios and borrowing for loan servicing, threatening India’s growth toward Viksit Bharat by 2047.
She stressed fiscal discipline, urged a shift from services to manufacturing-led growth, and highlighted low private R&D investment.
Sitharaman defended India’s tariff policies, called for a self-defined trade strategy, and pointed to regional success stories like Kerala’s exports.
The government aims to boost India’s global trade share to 25% through MSME support, financial inclusion via Mudra, bond market development, and energy security via nuclear and clean power to fuel emerging industries.
El ministro de Finanzas de la India advierte sobre los riesgos de la deuda estatal, impulsa el crecimiento de la fabricación y el comercio para la visión de 2047.