New Delhi, 27 February (HS): Union Finance Minister Nirmala Sitharaman said on Thursday that we are constrained, but we have to accept that the contribution of multilateral institutions is disappearing. Therefore, India needs to increase its bilateral relations with other countries to promote trade, investment and strategic relations in the new global order.

The Union Finance Minister said at an event held here that the government is making all efforts to take India forward and become the engine of global growth in these challenging times.

She said, India will have to make continuous efforts to make a meaningful contribution to the global recovery as well as to rise in terms of per capita income and become a business destination that drives global growth. Sitharaman said that we are constrained, but we have to accept that the contribution of multilateral institutions is fading away. Therefore, India also needs to increase its bilateral relations with other countries not only for trade and investment, but also for strategic relations.

Sitharaman said,The states are part of India's large economy, which will take us forward. Therefore, reform cannot be the agenda of the central government alone, every state government will have to take it seriously.India's position in the field of technology is very good. We can be a leader in many aspects of technology. We have proved to the world that wherever it comes to the use of technology, we do it at the level of a large population.

The Finance Minister said that India can also help those friends with whom we want to strengthen our bilateral relations. It can also create a kind of global technology group. He said that such a group under the leadership of India can bring a big change in the world.

Hindusthan Samachar / Jun Sarkar