Sitharaman is fighting a slowdown in gross domestic product (GDP) and rising unemployment, with the jobless rate rising about 2 percentage points in July compared to a year earlier according to private data group CMIE.

The government has been meeting industry executives and will take steps to address the challenges facing the economy after a series of meetings this week, Sitharaman told reporters.

India has not decided on the timing and size of its sovereign overseas bonds, she said, adding that she is open to hearing from foreign portfolio investors on "any issue.