Sitharaman meets IMF Deputy MD Clarke, discusses India’s growth path and global economy

Finance Minister Nirmala Sitharaman on Monday met International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke and discussed India’s economic outlook, developments in the global economy and the country’s engagement with the multilateral institution. The discussions covered India-IMF relations, the country’s evolving growth trajectory and the implications of ongoing changes in the international economic environment.

Trade shifts in focus

The two sides discussed India’s trade agenda and developments in the global trading system, including recently concluded bilateral trade agreements and their implications for the Indian economy. Clarke acknowledged India’s economic performance, resilience and growth track record despite uncertainties in the prevailing global environment. Sitharaman and Clarke also emphasised the importance of continued engagement between India and the IMF to strengthen macroeconomic cooperation, support sound economic policies and contribute to greater regional and global economic resilience.

India’s regional role recognised

The discussions also covered India’s role in supporting the South Asia Regional Training and Technical Assistance Center (SARTTAC), with both sides appreciating the partnership. SARTTAC works to strengthen institutional and human capacity across South Asian countries in areas of macroeconomic and financial management.

Clarke also appreciated the Indian government’s efforts towards fiscal consolidation as well as measures taken to support the economy in the aftermath of the West Asian crisis. The meeting comes at a time when India is navigating changes in global trade and geopolitical conditions while seeking to sustain growth and maintain fiscal discipline.