India must shape global outcomes, not remain passive spectator: Sitharaman

India and other developing countries have to be active participants in shaping decisions that determine their destinies, said Finance Minister (FM) Nirmala Sitharaman on Friday amid United States imposing punitive trade tariffs and wars in various countries.

- RUCHIKA CHITRAVANSHI

“For developing countries, this is a necessity, not just a romantic aspiration. We cannot afford to be passive spectators in a world where decisions elsewhere determine our destinies,” she said at the fourth Kautilya Economic Conclave in New Delhi.

“We gather at a time when the very foundation of the global order is shifting beneath our feet. The world that emerged after the end of the Cold War, which led to the expansion of globalisation, open markets and the perceived pursuit of multilateral cooperation now appears to be a relic of the past.”