Finance Minister Nirmala Sitharaman engaged in significant diplomatic discussions during her visit to Milan for the Annual Meeting of the Asian Development Bank (ADB), underscoring India's commitment to bolstering global economic partnerships.
India-Italy Economic Ties Reinforced
One of the focal points of Minister Sitharaman's visit was her meeting with Italian Finance Minister Giancarlo Giorgetti. They deliberated on enhancing bilateral economic cooperation and explored avenues to deepen ties across various sectors. Central to their discussions was the implementation of the Joint Strategic Action Plan 2025-2029, a collaborative initiative announced by Prime Minister Narendra Modi and Italian counterpart Giorgia Meloni in November 2024. This plan is set to inject new vigor into the partnership, focusing on priority domains crucial for both nations' development agendas.
The dialogue also spotlighted reforms within Multilateral Development Banks (MDBs), with both Ministers advocating for reforms to better cater to the needs of developing countries. This stance reflects India's proactive approach towards global economic governance, advocating for inclusivity and responsiveness in international financial institutions.
Strengthening the India-Japan Partnership
Minister Sitharaman also met with Japan's Finance Minister Katsunobu Kato to reinforce the Special Strategic and Global Partnership between India and Japan. Emphasizing shared values of democracy and the rule of law, Minister Sitharaman highlighted the pivotal role of this partnership in fostering peace, prosperity, and stability in the Indo-Pacific region. Discussions encompassed collaborative efforts across diverse sectors, aligning with India's strategic vision for regional and global cooperation.
Addressing the ADB Annual Meeting
Prior to bilateral engagements, Minister Sitharaman addressed the Governors' Business Session at the 58th ADB Annual Meeting. She articulated India's robust economic trajectory and outlined the vision for 'Viksit Bharat 2047', underscoring sustainable growth and inclusive development as key imperatives. Endorsing ADB's strategic objectives, Minister Sitharaman advocated for a more proactive, agile, and client-centric approach by the bank, aligning with India's aspirations and regional development priorities.
Minister Nirmala Sitharaman's engagements at the ADB Annual Meeting underscored India's proactive role in global economic governance and commitment to fostering robust partnerships for mutual benefit. As India navigates dynamic global landscapes, these diplomatic efforts are pivotal in shaping inclusive and sustainable growth trajectories, both regionally and internationally.
Leave Your Comment