IMF lauds India's strong economic performance, track record during meeting with Union Minister Sitharaman

Union Finance Minister Nirmala Sitharaman met IMF Managing Director Kristalina Georgieva during the G20 Finance Ministers and Central Bank Governors meeting in Asheville. Georgieva commended India's strong economic performance and track record, recognizing the resilience built by the Indian economy. The meeting also touched upon India's evolving growth trajectory and the need to accurately reflect structural changes in macroeconomic assessments and growth projections.

Sitharaman emphasized the importance of robust economic frameworks and stressed the significance of continued India-IMF collaboration. The discussions also covered the IMF's capacity development initiatives aimed at strengthening institutional capacity, macroeconomic policymaking, and statistical systems in EMDEs. Both leaders agreed on the value of maintaining a strong partnership to bolster analytical capabilities and promote sound macroeconomic policies.

In addition to the IMF, Sitharaman held bilateral meetings with World Bank Group President Ajay Banga and European Commission Commissioner for Economy and Financial Affairs Valdis Dombrovskis. They spoke about deepening economic partnerships, promoting green and infrastructure investments, and accelerating private capital mobilization. Both sides also highlighted the potential for leveraging the World Bank Group's instruments and technology in areas like agriculture and infrastructure development.

The talks with Banga and Dombrovskis covered the India-EU Economic and Financial Partnership, the India-EU macroeconomic dialogue, and the Trade and Technology Council. Additionally, discussions revolved around the progress of the India-EU Free Trade Agreement and Investment Protection Agreement negotiations.