India seen as island of calm amid challenging times: Nirmala Sitharaman

"Because of the careful planning, targeted facilitation, fiscal prudence, and essentially understanding the Indian economy for what strength it has and for the challenges it has to face, PM led from the front to ensure targeted supports to industries, particularly the MSMEs and made sure that the Indian economy would be very carefully navigated through this challenge that we face.

"As a result of which, between 2020 and today, we seem to have come out to a situation where the challenges continue. The newer challenges are also building up, but India is seen as a island of certain level of calm. We still do have our challenges, but not as would every other country suspect that India will be threatened by," she said addressing Invest Karnataka 2022 here.

Sitharaman also said that she has been hearing about India being an oasis of stability and calm during her visit to Washington for IMF and World Bank meetings.
She also lauded Karnataka government for carefully reflected the policies of the central government to create an environment for investors.

"I have heard from the chief minister (Basavaraj Bommai) that initially when this global meet was planned, their expectations and target was somewhere in the range of Rs 5 lakh crore. Today, that has moved upwards to about Rs 7.5 lakh crore, of which he has already cleared Rs 2.8 lakh crore related proposals," Sitharaman said.

(With UNI inputs)