NEW DELHI: In a recent meeting in New Delhi, Union Finance Minister Nirmala Sitharaman met with eleven Executive Directors (EDs) from the World Bank Group, representing 95 countries. The EDs were visiting India and had previously visited Mumbai, Ahmedabad, and Lucknow. During their visit, they observed the rapid development in various sectors in India, which has been facilitated by transformational reforms and increased participation of the private sector. India has set ambitious goals to become a developed country by 2047, and the EDs appreciated the efforts made towards achieving this vision.

The World Bank officials also acknowledged India's success in digital technology and startups, with a particular focus on providing essential public services like water, electricity, and road infrastructure. Minister Sitharaman highlighted India's commitment to creating opportunities for the economically disadvantaged and empowering communities for equitable growth. Since 2014, India has undergone significant reforms that have allowed for decentralization of planning, enabling states to set their development targets and work towards achieving them.

The EDs commended India's political leadership for their clear vision and appreciated initiatives like the Goods and Services Tax (GST), promoting women's empowerment (NariShakti), and the FastTags system, all of which align with India's fast-paced development goals.

Furthermore, Minister Sitharaman emphasized India's leading role in various global forums, including the Global Sovereign Debt Roundtable and Multilateral Development Bank (MDB) Reforms. India is also actively involved in regulating cryptocurrencies and promoting Digital Public Infrastructure (DPI). The Finance Minister expressed India's willingness to share its development experiences and assist other countries in building their capacity to benefit from India's knowledge and expertise. the meeting was productive, showcasing India's commitment to inclusive growth and its contributions to global development initiatives.

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