India’s Global Growth Role Backed by IMF, World Bank
Union Finance and Corporate Affairs Minister Nirmala Sitharaman has underlined the growing international acknowledgment of India’s economic potential, stating that global institutions like the International Monetary Fund (IMF) and the World Bank view India as a key driver of global trade and growth.
During her address to the Indian diaspora at the Indian Community Centre in San Francisco, Sitharaman emphasized that India, along with countries like China, is now seen as an economic engine capable of revitalizing sluggish global trade.
“When the IMF or World Bank recognises that countries like India and China can be the engines to pull world trade out of stagnation, it’s a testament to the potential India holds,” Sitharaman said.
Her comments came as part of her official visit to the United States and Peru, where she is scheduled to engage with top executives from global investment and tech firms.
Navigating Global Economic Challenges
Sitharaman acknowledged the current challenges facing global trade, including policy uncertainties and inflation, but reiterated India’s resilience and upward trajectory. She noted that India’s robust growth could help uplift global trade trends, which remain subdued due to economic instability and tariff disruptions.
Viksit Bharat 2047 and India’s Strategic Vision
The finance minister also spoke about the Indian government’s vision of transforming the country into a developed nation, or Viksit Bharat, by 2047. She credited Prime Minister Narendra Modi for outlining a comprehensive development plan focused on four core groups: women, the underprivileged, youth, and farmers.
Sunrise Sectors and Digital Leadership
India’s strategic emphasis on emerging “sunrise sectors,” particularly Digital Public Infrastructure (DPI), was also a focal point of her speech. Sitharaman highlighted how India’s advancements in DPI have already positioned the country as a global leader in digital innovation.
“These forward-looking sectors will define India’s economic future and global standing,” she added.
Through her remarks, Sitharaman delivered a clear message to the Indian diaspora: India is ready to collaborate and lead on the global economic stage.