San Francisco (California) [US], April 21 : Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, highlighted that global financial institutions like the IMF and the World Bank have recognised India's strong growth potential and its important role in supporting global trade.
The minister highlighted this during her address to the Indian diaspora in San Francisco at the India Community Centre, where she spoke about India's emerging leadership in the global economy.
"When we say India is the fastest growing economy, and when the IMF or the World Bank recognizes that India, because of the growth potential, can be India, China, many other such countries, can be the engine to pull the world trade, which is in the negative or just about positive zone, they recognize the potential that exists in India," she said.
She pointed out that despite a global slowdown, rising uncertainties, and high inflation in several countries, India continues to grow steadily. Sitharaman adds, this growth can help uplift global trade, which is currently struggling to stay in the positive zone.
"And by us growing with that potential, we will probably be able to lift that trend which is seen globally because of the various uncertainties, keeping growth low, keeping trade low, but keeping inflation high in some places," she added.
The minister encouraged successful Indian professionals and businesses in the U.S. to explore opportunities to partner with India.
Sitharaman also underlined the Indian government's focus on building a developed India Viksit Bharat by 2047. She said Prime Minister Narendra Modi has clearly laid out the vision by focusing on four main sections of society women, the poor, youth, and farmers.
She further said that India is giving special attention to "sunrise sectors" such as Digital Public Infrastructure (DPI), where the country has already become a global leader. These sectors are key to boosting India's future economic capacity and global standing, she added.
The minister's message to the diaspora was clear India is open for collaboration and holds the promise of driving the next phase of global growth.
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