India’s economic growth reflects the country’s resilience and strong recovery, finance minister Nirmala Sitharaman said, flagging risks to global revival due to rising uncertainty amid geopolitical tensions. She was speaking at events in the US, where she is attending spring meetings of the World Bank and International Monetary Fund (IMF).
India’s economy grew 8.9% in FY22, and IMF has forecast an 8.2% rise this year. “India’s economic growth in the current year is robust and highest among all large economies and reflects India‘s resilience and strong recovery,” Sitharaman was cited as saying at Development Committee Plenary of World Bank in Washington DC in a finance ministry statement on Saturday.
The country’s pandemic response focused on the twin goals of saving lives and livelihoods, Sitharaman said.
Ready to Provide Assistance
“India faced the pandemic crisis with great resilience and made remarkable progress in vaccination and administered more than 1.85 billion Covid-19 vaccine doses,” she said, according to the statement.
The Covid Vaccine Intelligence Network (CoWIN) platform has been offered to all countries and India is ready to provide assistance for other public goods platforms as well, the minister said.
She also drew the attention of the meeting to the unprecedented situation in Sri Lanka and called for aid to the country.
In a separate interaction with World Bank group president David Malpass, Sitharaman highlighted risks to global recovery and called for greater coordination among nations. “Multilateralism has become more critical, as the world is undergoing a phase of exceptional uncertainty,” she said.
Sitharaman highlighted India’s infrastructure development road map and sought continued support from the World Bank for financing the National Infrastructure Pipeline and the PM Gati Shakti programme.
Sitharaman also met Boeing Defense chief executive Ted Colbert and discussed opportunities for investments and growth in maintenance, repair, and operations (MRO) and aircraft leasing in India.
The finance minister on Friday met representatives of 14 US universities to explore opportunities for setting up campuses at the International Financial Services Centre (IFSC) in Gandhinagar, Gujarat.
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