New Delhi: Asian Development Bank (ADB) President Masato Kanda, in his meeting with Union Finance Minister Nirmala Sitharaman, has expressed the Bank’s full support to India’s development priorities, guided by Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, the Finance Ministry said on Monday.
FM Sitharaman also reiterated that India focuses on private sector-led economic growth and has been consistently creating a conducive policy and regulatory ecosystem.
The Finance Minister is leading an Indian delegation from the Department of Economic Affairs of the Ministry to attend the 58th Annual Meeting of the Board of Governors of the ADB in Italy’s Milan from May 4 to 7.
In a post on social media platform X, the ministry said that she met ADB President Kanda in Milan.
“The Union Finance Minister reiterated that India focuses on private sector-led economic growth and has been consistently creating a conducive policy and regulatory ecosystem through bold initiatives such as the Insolvency and Bankruptcy Code, Corporate Tax Rate Reduction and GST implementation, Production-Linked Incentives, National Infrastructure Pipeline, GatiShakti National Master Plan and Startup India, among others, for greater Ease of Doing Business,” the Ministry said.
Sitharaman also emphasised that India offers opportunities for ADB to pilot new, innovative financing products and models.
“Kanda expressed ADB‘s full support to India’s development priorities, guided by Prime Minister Narendra Modi’s vision of Viksit Bharat 2047,” the ministry added.
On the sidelines of the ADB’s 58th annual meeting, Sitharaman will also hold bilateral meetings with her counterparts from Italy, Japan, and Bhutan, in addition to meetings with the President of the International Fund for Agricultural Development (IFAD), and the Governor of the Japan Bank for International Cooperation (JBIC).
The Finance Minister will also interact with the Indian diaspora in Milan, besides meeting global think-tanks, business leaders and CEOs, and participating in a Plenary Session of the ‘NEXT Milan Forum’ at the Bocconi University on “Balancing Economic and Climate Resilience”, according to an official statement.
