India's recovery bright spot for global outlook: Nirmala Sitharaman

Finance minister Nirmala Sitharaman on Friday said India's strong recovery in the aftermath of the pandemic is a "bright spot for the global growth outlook".

But at the same time she also underscored the dilemmas faced by emerging market developing economies between climate security and growth, as they manage "overlapping crises and socio-economic transformation".

Addressing a G7 seminar on economic policies for welfare in Niigata in Japan, the minister stressed the need for balancing sustainable growth with environment in the short and long run. She also called for ways to measure "empowerment going beyond indicators such as gross domestic product".


The minister is in Japan to attend the G7 meeting. India, which has the G20 presidency for the current year, is an invitee to G7 finance ministers and central bank governors (FMCBG) meeting.

She also shared India's focus on digital public infrastructure and green hydrogen "as a foundation for sustainable and inclusive growth and as an example of innovative policy toolkits" by emerging market developing economies, the finance ministry tweeted.

Participating in the first session of FMCBG dialogue, Sitharaman highlighted the resilience as well as unique development challenges of emerging market developing economies. She called for bolstering cooperation among all stakeholders for timely resolution of the debt crisis being faced by vulnerable nations.

In the second session of the FMCBG Dialogue focussed on sustainable growth, the minister underlined the need to bolster multilateral development banks to "address trans-boundary challenges".