India's Sitharaman Calls for Greater Emerging Economies' Role in Global Cooperation
India's Finance Minister Nirmala Sitharaman has spoken out about the need for emerging economies to have a greater say in global economic cooperation. She urged richer nations to support developing countries with climate finance and market access. Meanwhile, India's economic resilience is growing, with expanding foreign exchange reserves and a narrowing current account deficit.
Sitharaman, addressing the Kautilya Economic Conclave 2025 in New Delhi, emphasized the importance of India and other emerging economies being active participants in shaping global economic cooperation. She did not single out specific countries but highlighted the need for new forms of sustainable collaboration in a fractured global order.
India's economic leverage is strengthening. The Reserve Bank of India (RBI), led by Governor Sanjay Malhotra, has implemented aggressive liquidity support and revenue reforms. These measures, along with a calibrated exit strategy, have helped maintain low inflation and prevent food-price inflation. Despite headwinds from trade tensions, elevated debt levels, and geopolitical volatility, India has shown remarkable resilience.
Sitharaman also called for reforms in multilateral institutions to better reflect the stakes of emerging economies. She urged richer nations to provide climate finance, concessional lending, and market access to developing countries. India, with its expanding foreign exchange reserves and capacity to absorb shocks, is well-positioned to navigate global uncertainties and contribute to global economic cooperation.
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