FM Nirmala Sitharaman reviews BRICS Finance Track outcomes ahead of Mumbai meet

Finance Minister Nirmala Sitharaman held discussions on Monday with IMF Deputy Managing Director Nigel Clarke, focusing on India's economic growth and global economic shifts. The talks covered India-IMF relations, the nation's evolving growth trajectory, and the impact of global economic changes, including India's trade agenda and recent bilateral trade agreements.

Both parties stressed the significance of ongoing India-IMF collaboration to bolster macroeconomic cooperation, promote sound policies, and enhance regional and global economic resilience, according to the finance ministry's social media post.

Clarke praised India's role in supporting the South Asia Regional Training and Technical Assistance Centre (SARTTAC). The IMF representative acknowledged the country's strong economic performance, resilience, and growth record amidst the current global challenges, as well as the government's fiscal consolidation efforts and support measures following the West Asian crisis, the ministry noted.

Clarke also shared that he had journeyed to India for meetings with key policymakers and private sector leaders. He expressed anticipation of productive discussions in New Delhi, Mumbai, and Chennai throughout the week. Separately, Sitharaman chaired a meeting with senior officials from the Department of Economic Affairs to assess key results of the BRICS Finance Track and preparations for the upcoming BRICS Finance Ministers and Central Bank Governors meeting, which is scheduled for September 9-10 in Mumbai, ahead of the BRICS Leaders Summit.