Finance Minister Nirmala Sitharaman met several world leaders here on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, and discussed the global economic outlook and India’s evolving growth trajectory
ASHEVILLE — Finance Minister Nirmala Sitharaman met several world leaders here on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, and discussed the global economic outlook and India’s evolving growth trajectory.
In her meeting with Valdis Dombrovskis, Commissioner for Economy and Financial Affairs, European Commission, the two sides discussed further deepening of the India–EU Economic and Financial Partnership, including through the India–EU macroeconomic dialogue and the Trade and Technology Council (TTC).
They also discussed ongoing India–EU FTA and Investment Protection Agreement negotiations, with a shared commitment to take these engagements forward, according to Finance Ministry.
The two sides exchanged views on strengthening resilient and diversified supply chains, including cooperation on critical raw materials and technologies.
FM Sitharaman emphasised the importance of not only sourcing critical minerals, but also developing processing and value-addition capabilities.
They also sought to explore opportunities for greater cooperation in FinTech, AI and generative AI, including fostering greater engagement between Indian and European start-ups.
Both sides reaffirmed their commitment to further strengthen the India–EU partnership and work together on shared priorities, the Finance Ministry posted on X.
FM Sitharaman also met Kristalina Georgieva, Managing Director at IMF, and discussed the global economic outlook and India’s evolving growth trajectory.
“Georgieva appreciated India’s strong economic performance and track record, noting the strength built by the Indian economy. The discussion also covered the structural shifts underway in India and the importance of appropriately reflecting these developments in macroeconomic assessments and growth projections,” according to an official statement.
The Finance Minister highlighted India’s strong macroeconomic fundamentals and the importance of robust, evidence-based surveillance frameworks that adequately reflect structural shifts in Emerging Markets Developing Economies (EMDEs).
The discussions also covered the IMF’s capacity development initiatives, including support for strengthening institutional capacity, macroeconomic policymaking and statistical systems in Emerging Markets Developing Economies (EMDEs).
Both leaders emphasised the importance of continued India-IMF engagement in strengthening analytical capabilities, supporting sound macroeconomic policies and contributing to global economic resilience.
She met Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, Republic of Korea. The Finance Minister acknowledged that India considers the Republic of Korea a very important economic partner, and the relationship has been mutually beneficial across several dimensions.
The two ministers discussed strengthening bilateral economic and financial cooperation, including taking forward the India-Korea Finance Ministers’ Meeting through early working-level consultations.
The Finance Minister said that India looks forward to strengthening India-Korea cooperation even further, including in emerging and strategic areas such as critical minerals and resilient supply chains, and remains committed to fostering this partnership for the mutual benefit of our people and industry.
FM Sitharaman met Anton Siluanov, Finance Minister of Russia, on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting.
The two sides exchanged views on strengthening bilateral cooperation, regional and global economic developments, and issues of shared interest in the multilateral sphere.
They discussed cooperation in the New Development Bank and the Asian Infrastructure Investment Bank, and explored areas of mutual interest for strengthening both institutions as effective multilateral development banks.