Nirmala Sitharaman met Christian Lindner discussed opportunities at GIFTCity w.r.t. FinTech, Financial Management, Science, Technology, Engineering and Management
FM Sitharaman met Ms. Gita Gopinath, First Deputy Managing Director (FDMD) of the International Monetary Fund in Washington, D.C.
FinTech BizNews Service
Mumbai, 26 October, 2024: Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman met Christian Lindner, Federal Minister of Finance, Germany, on the sidelines of the #AnnualMeetings2024, in Washington, D.C., on Saturday.
Mr. Lindner congratulated Smt. Sitharaman on the reappointment under the new Government; and also extended congratulations on India’s recent favourable evaluation by the FATF.
Both leaders noted that the 7th Inter-Governmental Consultation is ongoing in India today to further enhance and deepen India-Germany collaboration.
The two leaders discussed opportunities at IFSC GIFTCity as a gateway for global investors to invest in India w.r.t. Financial Management, #FinTech, #Science, #Technology, #Engineering and #Management, as GIFTCity is free from domestic regulations.
FM Sitharaman said that since large number of Indian students study at German Universities for high education, German Universities can explore setting up International Branch Campus in GIFTCity like other international universities setting up at the Centre.
Union Minister for Finance and Corporate Affairs participated in the G7 African Ministerial Roundtable to discuss country-specific solutions to develoment finance challenges, and G7 initiatives for development in Africa, on the sidelines of #AnnualMeetings2024, in Washington, D.C.. Noting the deep-rooted partnership between India and Africa, FM Sitharaman said that Prime Minister Shri Narendra Modi has redefined this partnership with 10 guiding principles aimed at supporting Africa’s growth through capacity-building, enhanced public services, and addressing #ClimateChange, among others. The Union Finance Minister urged G7 and G20 to intensify support for Africa.
The Union Finance Minister underlined India's support to Africa in areas like infrastructure development and the health sector, offering technical expertise and technology transfers. The Union Finance Minister urged scaling up access to long-term and affordable financing for development, supported by structural reforms and policy measures to promote domestic resource mobilisation and attract foreign investment to build long-term financial resilience to attain Sustainable Development Goals. FM especially focused on enhanced support from international financial institutions, especially through increased lending capacity of Multilateral Development Banks #MDBs as vital to achieving Sustainable Development Goals.
Union Minister for Finance and Corporate Affairs, Sitharaman met Ms. Gita Gopinath, First Deputy Managing Director (FDMD) of the International Monetary Fund in Washington, D.C. The Union Finance Minister congratulated the FDMD on the successful conduct of the #AnnualMeetings2024 and expressed her optimism for continued collaboration. She also highlighted recent Union Budget announcements focused on jobs and skilling. The FDMD requested India’s support for the 16th General Review of Quotas (GRQ).
Gita Gopinath wrote on X: Wonderful reconnecting with India's Finance Minister Nirmala Sitharaman to discuss India’s economic outlook and global challenges. With growth projected at 7 percent in FY24/25, India is set to remain the largest growing major economy in the world.
