India’s Global Influence and Role in Shaping Multilateral Reform: Nirmala Sitharaman’s Address

Indian Finance Minister Nirmala Sitharaman emphasized India’s pivotal role in global economic and policy arenas, focusing on multilateral reforms and inclusive growth. She highlighted India’s strategic contributions to reshaping international institutions, underscoring the necessity for these bodies to address the unique needs and challenges of developing nations. Sitharaman stressed that an equitable multilateral system is crucial to achieving sustainable global growth and resilience, especially in the context of rising economic uncertainties and geopolitical tensions.

India’s global influence has increased notably through its initiatives in promoting technology-driven economic development, sustainable financing, and inclusive policies that support both large and small economies. Sitharaman pointed out that India’s recent presidency of the G20 has been a significant step in furthering these values. The country has championed collaboration on climate finance, digital economy frameworks, and health resilience, aiming to build economic structures that are adaptable and just for all participants. She further discussed how India’s digital infrastructure, including initiatives like Aadhaar and Unified Payments Interface (UPI), sets an example of scalable models for financial inclusion and transparency that other developing countries can adopt to enhance their economic frameworks.

Sitharaman also outlined India’s advocacy for broader representation in global financial bodies such as the International Monetary Fund (IMF) and World Bank. She suggested that reforms in these institutions should be made to grant developing economies a stronger voice, which would lead to more balanced economic outcomes worldwide. By actively working towards these changes, India seeks to redefine global economic policies to better reflect the priorities and realities of emerging economies, ensuring a fairer approach to resource distribution and policy-making.

In her closing remarks, the Finance Minister reaffirmed India’s commitment to fostering international cooperation and multilateral partnerships. Through its leadership in various global platforms, India is driving discussions on sustainable economic growth, equitable access to resources, and collaborative responses to global challenges.

Source: theunn.com