Wednesday, 06 November 2024
Wednesday, 06 November 2024
Finance Minister Nirmala Sitharaman arrived in Washington to attend the annual spring meetings of the IMF and the World Bank and lead the G-20 countries in a series of intense interactions over a host of issues facing the world.
During the visit, a meeting of the Global Sovereign Debt Roundtable will be co-chaired by India, IMF, and the World Bank on April 12, to discuss the current global debt landscape and ways to address existing challenges in debt restructuring.
Sitharaman, who is leading a high-powered delegation, kicked off her public engagements on Monday from the prestigious Peterson Institute for International Economics by speaking on “resilience and growth of the Indian economy” and interacting with the think-tank community.
"I would like the WTO to be a lot more progressive, a lot more listening to all countries, to be fair to all members," Sitharaman said during a fire-side chat at the Peterson Institute for International Economics, a top American think-tank here.
Addressing a Washington DC audience during a fireside chat at the Peterson Institute for International Economics on Monday, Sitharaman said the Muslim population is only growing in numbers in India.
"If there is a perception or if there's, in reality, their lives are difficult or made difficult with the support of the State, which is what is implied in most of these write-ups, I would ask, will the Muslim population be growing from what it was in 1947... The contrast can be sharper as opposed to Pakistan, which was formed at the same time,” she said.
"It's not to say that we have to reverse the benefits of globalization. It is more to say, make globalization more transparent," Sitharaman told a prominent American think-tank Peterson Institute for International Economics in response to a question.
For a very long time, it has been India's attempts to make sure its manufacturing sector grows. "We have a big play. We also don't import final consumer goods, which we are capable of manufacturing. However, when you have price discrepancies or price competitiveness affecting your purchasing decisions, you end up buying those which you can produce because they come at a far more, cheaper rate," she said.
Union Finance Minister Nirmala Sitharaman also met with Minister of Finance and Economic Affairs of the Republic of Malawi Sosten Gwengwe during a delegation-level meeting on the sidelines of the World Bank-IMF Spring Meetings 2023, in Washington D.C, USA, Monday, April 10.
The finance minister wonders how a country gets its manufacturing back if it only have to constantly liberate its market. "Discussion worthy points." "India's attempt to talk to the WTO, talk in WTO have all faced with just no moment. The other classic example, which is in the minds of many of the emerging market countries is the electronics transmission related wall. Isn't that since 1998, all of us are sitting and watching that you can't do anything on the customs route for so much that is happening in the electronics business. It's hitting the kind countries very differently," she said.
Union Finance Minister Nirmala Sitharaman in a meeting with a delegation of Sikhs of America group, in Washington D.C, USA.
Among key engagements of the finance minister here include, spring Meetings of International Monetary Fund and the World Bank; hosting the Second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India's G20 Presidency and G20-related side events; World Bank Development Committee and IMF Committee Plenaries, interaction with global economists and think-tanks, bilateral engagements and interaction with global business leaders and investors in roundtables.
Sitharaman is scheduled to address the Indian diaspora here on Saturday at a reception hosted in her honour by India's Ambassador to the US, Taranjit Singh Sandhu.
On April 14, a high-level seminar on “Macro-financial implications of Crypto assets” will be held to review the macro-financial implications of Crypto Assets and discuss policies to leverage benefits and contain risks.
Sitharaman will also meet the G20 Expert Group on strengthening MDBs on April 15, 2023, to discuss the need for an updated MDBs ecosystem for the 21st century towards financing sustainable development goals and transboundary challenges.
