|
Union Finance Minister Nirmala Sitharaman pushed for deeper trade, investment and financial cooperation with key global partners during bilateral meetings on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Asheville, with a focus on infrastructure, emerging technologies and private capital mobilisation.
During her meeting with World Bank President Ajay Banga, Sitharaman appreciated the continued engagement and speedy processing of the World Bank's USD 1.5 billion Development Policy Financing. The two also discussed a larger role for the Multilateral Investment Guarantee Agency (MIGA) in deepening corporate, infrastructure and municipal bond markets through guarantees and greater mobilisation of private capital. "Mr. Banga appreciated the significant transformation in India's infrastructure and noted the opportunities to further leverage the World Bank Group's instruments to support India's development ambitions, including through MIGA's engagement and political risk insurance for Indian companies investing overseas," the Ministry of Finance said in a post on X. Sitharaman also met International Monetary Fund Managing Director Kristalina Georgieva to discuss the global economic outlook and India's growth trajectory. The ministry said that Georgieva "appreciated India's strong economic performance and track record, noting the strength built by the Indian economy". The ministry further said Sitharaman highlighted the need for "robust, evidence-based surveillance frameworks" that reflect structural shifts in emerging and developing economies. In a meeting with Poland's Finance Minister Andrzej Domanski, Sitharaman discussed expanding cooperation across trade, services, defence, energy security and emerging technologies. The ministry said Domanski described India and Poland as "high-level trading and investment partner[s]" while noting scope to diversify cooperation across sectors. Qatar Finance Minister Ali bin Ahmed Al Kuwari appreciated India's strong and resilient growth and invited Sitharaman to the 11th Annual Meeting of the AIIB Board of Governors in Doha in September 2026. Discussions also covered trade, investment, energy, infrastructure and logistics. Sitharaman also discussed bilateral and global economic developments with Russian Finance Minister Anton Siluanov, including cooperation through the New Development Bank and AIIB. Further, her meeting with South Korean Deputy Prime Minister Koo Yun-cheol focused on financial cooperation, critical minerals, resilient supply chains and greater investment. The ministry said Koo called for India and South Korea to "further develop stronger bilateral cooperation" to enhance trade and investments. The engagements underline India's efforts to broaden economic partnerships, attract private capital and strengthen cooperation in infrastructure, technology and financial systems. Sitharaman is in the US as part of her official nine-day visit to Canada and the US from August 25 to September 2. The US leg began on August 28, with the Finance Minister attending the G20 Finance Ministers and Central Bank Governors meeting in Asheville as part of her scheduled engagements. (ANI)
|
