India Strengthens Economic Ties at 58th ADB Annual Meeting in Milan

Finance Minister Nirmala Sitharaman met with ADB President Masato Kanda and Italian Finance Minister Giancarlo Giorgetti, emphasizing India's focus on private sector-led growth and innovative financing. Discussions included strengthening India-Italy economic ties, collaboration in fintech, and reforming Multilateral Development Banks to align with SDGs.

On Monday, India's Finance and Corporate Affairs Minister Nirmala Sitharaman held crucial talks with Asian Development Bank President Masato Kanda and Italian Finance Minister Giancarlo Giorgetti. The meetings underscored India's ongoing efforts to promote economic growth through private sector engagement and robust policy frameworks.

During the 58th Annual Meeting of the ADB Board of Governors in Milan, Minister Sitharaman emphasized India's commitment to offering pioneering opportunities for innovative financing projects. These efforts align with the country's aim to cultivate a private-sector-led economy bolstered by initiatives like the Insolvency and Bankruptcy Code, GST implementation, and the National Infrastructure Pipeline.

In dialogue with Italian counterpart Giorgetti, the focus shifted to enhancing bilateral economic ties and global cooperation. The implementation of the Joint Strategic Action Plan 2025-2029 between India and Italy promises to augment cooperation in key sectors, while digital and renewable initiatives remain at the forefront of shared agendas.

(With inputs from agencies.)