New York [US], October 22 (ANI): During a conversation in New York about India’s economic growth and reforms, Finance Minister Nirmala Sitharaman emphasized that India’s biggest challenge is employability. She explained that while many students graduate with university degrees, there is often a gap between their qualifications and the skills employers need.
Sitharaman said the government is working to address this issue by helping students gain the necessary skills, especially in areas like artificial intelligence (AI) and other emerging technologies. “Many students have the qualifications, but employers see a gap in the skills needed for today’s jobs,” she said, highlighting the government’s efforts to bridge this gap.
She also discussed how India’s digital transformation has formalized large parts of the economy. The Finance Minister praised the success of the Unified Payments Interface (UPI), which has made cashless payments accessible to everyone, including small vendors. “The shift from plastic cards to QR codes has been fast, and even the smallest street vendors are now using digital payments,” she said. This move has reduced cash dependence and increased transparency in financial transactions.
Additionally, Sitharaman spoke about India’s commitment to achieving net-zero emissions by 2070. She shared that India is quickly moving away from thermal power and focusing on renewable energy like solar and wind. Despite facing challenges like high costs and a lack of global financial support, India is making significant progress with initiatives such as green hydrogen, electric mobility, and advanced battery storage.
On global challenges, Sitharaman pointed out the impact of geopolitical issues, particularly on food, fuel, and fertilizer supplies. She noted that rising insurance costs and disruptions in shipping routes due to these geopolitical tensions are also concerns for India.
Through indigenous solutions and public funding, India continues to push forward in addressing these challenges and ensuring sustainable growth for its economy.
