Union Finance Minister Nirmala Sitharaman on Tuesday said India and the United States can strengthen their long-standing economic collaboration to enable partnership and investments in several key sectors, including semiconductors, nuclear power generation, pharmaceuticals, and quantum computing.

She further said India’s quest for sustained growth over the next two decades hinges on a new paradigm, driven by bold reforms, enhanced domestic capabilities, and strategic institutional collaborations suited for the evolving global landscape.

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Speaking at Stanford University in California, US, Sitharaman said, “At first glance, these developments appear formidable, and yet they are full of possibilities. New opportunities for deeper participation present themselves.”

She said that global trade and investment landscapes are being reimagined to bring about a better balance between externally led growth and domestic growth.

The minister also highlighted the work done by the Modi government in the last 10 years.

She said the government has undertaken structural reforms, rationalising over 20,000 compliances, decriminalising business laws, and digitising public services to reduce friction.

A significant thrust on infrastructure development has also created a strong foundation for manufacturing-led growth by bolstering investor confidence over the last 10 years, she mentioned.

India has set a goal to become a developed nation by 2047. “As we lay the foundation for a developed India, we must stay committed to long-term goals, without losing sight of present realities. The global order is changing. That poses challenges but also opportunities. We must be prepared to tackle the former while seizing the latter,” she said.

Minister Sitharaman is on an official visit to the United States and Peru from April 20 to 30, 2025, during which she will attend the Spring Meetings of the International Monetary Fund–World Bank, take part in G20 Finance Ministers and Central Bank Governors (FMCBG) meetings, besides holding bilateral meetings with many countries and organisations.