Arun Jaitley speech: From global ‘firewalls’ to ‘Indian confidence’, top 5 power points FM made in New York

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At the Asia Society in New York, Finance Minister Arun Jaitley, when asked what his prognosis is for the global economy for the next couple of years said that the global economic situation is "grim" and "worrisome" and that has prompted nations to put up "firewalls" to save themselves. Here are the top 5 power points FM Arun Jaitley speech made:

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1. Arun Jaitley: India has moved on from being uncertain about trade with other nations to a more confident economy on the world stage now. With a much larger economy, I think Indian confidence in terms of dealing with other countries in terms of trade has also significantly increased. The India of 2016 is going to be significantly different from the India of the early 1990s. (AP)

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2. Arun Jaitley: There was a large body of opinion in India during that time (1990s) including in the government where we feared the unknown as to what would happen. We weren't strong enough to trade freely. Over the last two decades a lot of water has flown. We have become a large economy, we positively interact with bodies of other nations. (PTI)

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3. Arun Jaitley: If you were to ask me how's the global situation, I think it's grim and worrisome and what will be the state of play a year or two years from now, I don't think anybody has been able for sure to hazard even a significant guess. The global situation is challenging. Global factors have impacted India also and they are hurting us in terms of exports in particular. Given the challenging global economic situation, the level of ambition in nations is such that even an one-two per cent economic growth is considered good growth. (AP)

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5. Arun Jaitley: Under Arvind Kejriwal, the politics of adventurism is becoming a substitute for governance in an union territory.(AP)

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5. Arun Jaitley: I can tell you that developing economies being protectionist is much less worrisome (than) when (in) the most developed countries you hear noises of protectionism. Trade is one area where every country watches its interests and that's a freedom we allow to each other.(AP)