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International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke acknowledged Indias economic performance and resilience amid the current global environment during a meeting with Union Finance Minister Nirmala Sitharaman on Monday, the Ministry of Finance said.
Clarke, who is on a visit to India, also acknowledged the governments fiscal consolidation efforts and measures taken following the West Asian crisis, according to the ministry. Mr. Nigel Clarke acknowledged Indias economic performance, resilience and growth track record in the current global scenario, and Government of Indias efforts for fiscal consolidation and support measures in the aftermath of the West Asian crisis, the Finance Ministry said in a post on X. Sitharaman and Clarke discussed the outlook for the Indian and global economies, including Indias evolving growth trajectory and the impact of changes in the global economic environment. The discussions also covered Indias trade agenda, developments in the global trading system and the countrys recently concluded bilateral trade agreements. The meeting comes at a time when higher energy prices following the West Asian conflict have emerged as a risk to Indias growth outlook. In its July 2026 World Economic Outlook Update, the IMF marginally lowered its growth forecast for India for 2026 by 0.1 percentage point to 6.4 per cent. The Fund had said that better-than-expected economic data and resilience in economic activity were being more than offset by higher energy prices and their impact on domestic fuel prices. The IMF, however, raised its growth projection for India for 2027 by 0.2 percentage point and said it expected growth to strengthen as the energy shock dissipates. During Mondays meeting, Sitharaman and Clarke also discussed broader India-IMF relations and emphasised continued engagement between the two sides for strengthening macroeconomic cooperation and supporting sound economic policies. Both sides emphasised the importance of continued India-IMF engagement in strengthening macroeconomic cooperation, supporting sound policies and contributing to greater regional and global economic resilience, the ministry said. The two sides also appreciated Indias role in supporting the IMFs South Asia Regional Training and Technical Assistance Center, or SARTTAC. SARTTAC, based in New Delhi, provides IMF training and technical assistance to six South Asian countries - Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka. It was established as the IMFs first regional centre to fully integrate training and technical assistance. (ANI)
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