IMF, World Bank Hail India as Global Trade Engine: FM Sitharaman
Finance Minister Nirmala Sitharaman said that India is now the world’s fastest-growing economy, thanks to the visionary leadership of Prime Minister Narendra Modi and the political stability brought by a consistent government.
San Francisco: Finance Minister Nirmala Sitharaman said that India is now the world’s fastest-growing economy, thanks to the visionary leadership of Prime Minister Narendra Modi and the political stability brought by a consistent government. Speaking to the Indian diaspora in the US, she emphasized India’s rising status as a key driver of global trade and growth.
“When the IMF and World Bank say India can be the engine of global trade, they are recognizing the immense potential India holds,” she noted during her address.
India’s Fiscal Discipline and Development Goals Highlighted
The Finance Minister explained the steps taken by the government to manage the economy post-Covid-19.
“We made a clear commitment to reduce the fiscal deficit below 4.5% by 2026. We’ve set annual targets and stuck to them without deviation,” Sitharaman said.
She reaffirmed that the Indian government is committed to its long-term vision of ‘Viksit Bharat 2047’, aiming to transform India into a fully developed nation by its centenary of independence, with a focus on:
- Empowering women, youth, and farmers
- Uplifting the economically disadvantaged
- Enhancing infrastructure and digital transformation
India Leading in Sunrise Sectors and Digital Infrastructure
FM Sitharaman pointed out that India is investing heavily in Sunrise Sectors like clean energy, AI, and advanced manufacturing. She also praised India’s leadership in Digital Public Infrastructure, noting that the country has emerged as a global model for innovation and digital inclusion.
Also Read: US Vice President JD Vance Arrives in India for Historic 4-Day Diplomatic Visit
PM Modi’s Diaspora Engagement Praised
She emphasized Prime Minister Modi’s commitment to the Indian diaspora, stating:
“In every overseas visit, PM Modi connects with the Indian diaspora, recognizing your global contributions and the pride you bring to India.”
FM Sitharaman’s Five-Day US Visit: Key Events and Meetings
Upon arriving in San Francisco, FM Sitharaman was welcomed by Indian Ambassador Vinay Mohan Kwatra. Her packed itinerary includes:
- Delivering a keynote address at Stanford University
- Hosting investment discussions with CEOs in San Francisco
- Attending diaspora events to promote India’s cultural and economic vision
She will then travel to Washington DC to participate in:
- The IMF and World Bank Spring Meetings
- The G20 Finance Ministers and Central Bank Governors Meeting
- Bilateral talks with finance ministers from countries including the US, UK, France, Germany, and Saudi Arabia
Next Stop: Peru
Following her engagements in the US, FM Sitharaman will head to Peru from April 26 to 30, furthering India’s global outreach in Latin America.
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