Sitharaman, IMF Chief Discuss India’s Growth Trajectory, Macroeconomic Resilience

New Delhi, Sept 2 (KNN) Union Finance Minister Nirmala Sitharaman met International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting in Asheville, with discussions focusing on the global economic outlook and India’s evolving growth trajectory.

The Finance Ministry said Georgieva appreciated India’s strong economic performance and noted the resilience built by the Indian economy. 

The two sides also discussed structural shifts underway in India and the need to appropriately reflect these developments in macroeconomic assessments and growth projections, reported ANI.

Focus On Stronger Macroeconomic Assessments

Sitharaman highlighted India’s strong macroeconomic fundamentals and stressed the importance of robust, evidence-based surveillance frameworks that capture structural changes across Emerging Markets and Developing Economies (EMDEs).

The discussions also covered the IMF’s capacity development initiatives aimed at strengthening institutional capabilities, macroeconomic policymaking and statistical systems in EMDEs.

India-IMF Engagement To Support Economic Resilience

Both sides emphasised continued India-IMF engagement to strengthen analytical capabilities, support sound macroeconomic policies and contribute to global economic resilience.

Sitharaman Holds Talks With World Bank, EU Officials

Sitharaman also held bilateral meetings with World Bank Group President Ajay Banga and European Commission Commissioner for Economy and Financial Affairs Valdis Dombrovskis during the G20 meeting.

India, World Bank Discuss Infrastructure And Private Capital

Discussions with Banga covered deepening economic cooperation, green and infrastructure investments and greater mobilisation of private capital.

Banga appreciated India’s transformation in infrastructure and highlighted opportunities to further leverage World Bank Group instruments, including MIGA’s political risk insurance for Indian companies investing overseas.

Global Digital Public Infrastructure Hub Discussed

Sitharaman also discussed India’s collaboration with the World Bank Group on establishing a Global Digital Public Infrastructure Knowledge Hub in India, including the use of technology in sectors such as agriculture.

India-EU Economic Partnership Discussed

In her meeting with Dombrovskis, Sitharaman discussed further strengthening the India-EU Economic and Financial Partnership through the macroeconomic dialogue and Trade and Technology Council (TTC).

The two sides also reviewed ongoing negotiations on the India-EU Free Trade Agreement (FTA) and Investment Protection Agreement and reaffirmed their commitment to advancing the engagements.

(KNN Bureau)