Don’t take India’s growth story for granted, Nirmala Sitharaman cautions

Finance Minister Nirmala Sitharaman said India has performed well economically but warned against complacency. Speaking at the Mindmine Summit 2026, she stressed the need for continuous reforms, innovation and institutional strengthening while highlighting concerns over a potentially weak monsoon.

New Delhi: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday said India has performed reasonably well on the economic front, but cautioned against taking the country’s growth story for granted, stressing that continuous innovation, reforms and institutional strengthening are essential to sustain long-term momentum.

Speaking at Mindmine Summit 2026, the finance minister said economic growth alone is not sufficient and must be supported by robust institutions, effective policies and strong support systems to ensure durable and inclusive development.

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“I know that our country is doing reasonably well, but we must continue to evaluate our performance carefully and identify areas where further improvement is needed,” FM Sitharaman said.

She further noted that sustaining growth in a large and complex economy requires constant efforts to strengthen capabilities, improve efficiency and ensure that the benefits of development reach all sections of society.

India’s policy frameworks must remain robust and adaptable as the global economic environment continues to evolve, according to her.

“We should not assume that progress is guaranteed. Continuous effort, innovation, and reform are necessary to maintain momentum,” she said.

FM Sitharaman pointed out that while several sectors have performed strongly, others continue to require policy attention, particularly those dealing with more complex and intermediate products and services.

Policymakers must continue to examine how long-standing challenges can be addressed, whether through structural reforms, better implementation or new policy approaches, she said.

These issues have been discussed for many years, and the key question remains, ‘How will they be addressed going forward?’ she said.

The government remains focused on preparing for future challenges and adapting policy responses to changing circumstances, according to FM Sitharaman.

Referring to the Covid-19 pandemic, she said some of its after-effects continue to influence planning and expectations, although no major disruptions are anticipated.

FM Sitharaman said the government would continue to monitor emerging developments closely and work towards strengthening India’s long-term growth prospects.

Moreover, the minister highlighted that the government is preparing for a weaker monsoon due to the El Nino phenomenon.

“Some areas are going to be dry and some others are going to have excessive rain. That’s a year-long concern. But this year, because of El Niño, I think we are preparing for a not-so-good monsoon,” she said.