'Atmanirbhar Bharat' not an isolationist policy: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said the government's 'Atmanirbhar Bharat @ 2047' (self-reliant India by 2047) is not just "an isolationist policy" but a "resilient interdependence" capable of meeting domestic needs while integrating with global value chains. In her inaugural address at the 12th SBI Banking and Economics Conclave 2025 in Mumbai, the Union Minister said that the Centre's Atmanirbhar Bharat mission envisions a nation that "designs, produces, and innovates for itself and for the world".

FM @ SBI Banking and Economics Conclave 2025

"Global value chains today are going through a disruptive phase," she said.

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The finance minister also emphasised the importance of transforming India into an economy that will be "rooted in self-confidence, powered by enterprise, and guided by compassion".

She also mentioned five dimensions of the government's Atmanirbhar Bharat vision:

• Economic self-reliance
• Social self-reliance
• Technological self-reliance
• Strategic self-reliance
• Environmental self-reliance

India set to be third-largest economy...

The finance minister's latest remarks come days after she exuded confidence that India is poised to become the world’s third-largest economy soon.

The country's economic transformation over the past decade has been both structural and sustained, enabling the country to emerge as one of the fastest-growing major economies globally, she said in the national capital.

“We are at a time when India is moving fast on so many different parameters, largely economic... India and its people stand tall today because of our economic strength," she added.

Atmanirbhar Bharat for Viksit Bharat

Earlier this year, Prime Minister Narendra Modi underscored Atmanirbhar Bharat as one of the key foundational planks for 'Viksit Bharat' (Developed India), citing the nation's advances in areas like defence, technology, energy, space, and manufacturing.

A slew of reforms and policies under the Centre's 'Make in India' drive have transformed the country into a global manufacturing hub over the past decade, with the nation's factories producing world-class goods for both domestic needs and international markets. Meanwhile, manufacturing has continued to be a strong pillar of the country's economic growth.

The Centre's Production-Linked Incentive (PLI) scheme is aimed at boosting domestic manufacturing, driving technology adoption, and strengthen the country's position in global value chains. With an outlay of Rs 1.97 lakh crore, the PLI programme covers 14 strategic sectors, including electronics, pharmaceuticals, telecom products, automobiles, and textiles.

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