File image FM Sitharaman (Photo: PTI) 

New Delhi, June 15: On Monday, Union Finance Minister Nirmala Sitharaman stated that India has shown commendable performance in its economic landscape. However, she urged caution against complacency, emphasizing that ongoing innovation, reforms, and strengthening institutions are vital for maintaining long-term growth.

During her address at the Mindmine Summit 2026, she highlighted that mere economic growth is insufficient; it must be underpinned by strong institutions, effective policies, and comprehensive support systems to foster sustainable and inclusive development.

"While our nation is performing reasonably well, it is crucial to continuously assess our progress and pinpoint areas needing enhancement," FM Sitharaman remarked.

She elaborated that maintaining growth in a vast and intricate economy necessitates persistent efforts to bolster capabilities, enhance efficiency, and ensure that development benefits all societal segments.

According to her, India's policy frameworks must remain resilient and flexible as the global economic landscape evolves.

"We should not take progress for granted. Ongoing effort, innovation, and reform are essential to sustain our momentum," she asserted.

FM Sitharaman acknowledged that while certain sectors are thriving, others still require focused policy attention, especially those related to complex and intermediate products and services.

Policymakers must persist in exploring solutions to long-standing challenges, whether through structural reforms, improved implementation, or innovative policy strategies, she noted.

These issues have been on the agenda for years, and the pressing question remains, 'How will they be tackled moving forward?' she added.

The government is committed to preparing for future challenges and adjusting policy responses to evolving conditions, as stated by FM Sitharaman.

Addressing the impact of the Covid-19 pandemic, she mentioned that its lingering effects still shape planning and expectations, although no significant disruptions are expected.

FM Sitharaman assured that the government will keep a close watch on emerging trends and strive to enhance India's long-term growth outlook.

Additionally, she pointed out that the government is bracing for a potentially weaker monsoon due to the El Niño phenomenon.

"Some regions may experience drought, while others could face excessive rainfall. This is a year-round concern. However, this year, due to El Niño, we are preparing for a less favorable monsoon," she concluded.