Is India Prepared to Partner with NDB for Successful Model Sharing?
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Synopsis
Discover how India is poised to collaborate with the New Development Bank to share innovative models and solutions for sustainable growth. As Finance Minister Nirmala Sitharaman emphasizes the importance of partnerships for the Global South, learn about India's commitment to inclusive development and economic resilience.
Key Takeaways
- India is ready to collaborate with the NDB in sharing successful models.
- The NDB emphasizes cross-country partnerships for knowledge exchange.
- India's commitment to inclusive and sustainable development is reaffirmed.
- Strategic inclusion of the African Union in the G20 is highlighted.
- India's economic resilience post-pandemic showcases its potential for future growth.
Rio de Janeiro, July 4 (NationPress) The New Development Bank (NDB) has demonstrated that an institution led by the Global South can provide development solutions that are timely, reliable, and tailored to specific contexts, stated Finance Minister Nirmala Sitharaman on Friday.
Speaking at the 10th Annual Meeting of the Board Governors of the NDB here, the Finance Minister emphasized that the Bank should cultivate cross-country collaborations to enhance knowledge sharing, policy innovation, and technical cooperation.
“India is prepared to work alongside the NDB in disseminating successful models, including our accomplishments in Digital Public Infrastructure (DPI) and expanding renewable energy initiatives for wider application,” she told attendees.
FM Sitharaman reiterated India’s unwavering commitment to inclusive, sustainable, and innovation-driven development for the Global South.
“To ensure the Global South has a significant voice in discussions regarding issues that affect them, India’s initiatives led to the historic inclusion of the African Union as a permanent member of the G20,” she added.
The Indian economy has exhibited significant growth and resilience following the pandemic.
“A strong emphasis on macroeconomic stability, focused efforts on promoting digitalization, and inclusive policy design have been crucial in attaining this, despite encountering various domestic and international challenges,” the Finance Minister remarked.
She further mentioned that India is expected to remain one of the fastest-growing economies globally in the upcoming years.
While in Rio de Janeiro, the Finance Minister also participated in the BRICS Finance Ministers and Central Bank Governors Meeting (FMCBG).
On the sidelines of the NDB meetings, the Union Finance Minister was scheduled to engage in bilateral discussions with her counterparts from Brazil, China, Indonesia, and Russia, according to the ministry.
This visit occurs at a time when India is projected to experience a GDP growth of 6.5 percent in the current fiscal year (FY26), driven by strong domestic demand, a favorable monsoon, and monetary easing.
Point of View
I see India's proactive stance in collaborating with the NDB as a significant move. The emphasis on sharing successful models highlights India's leadership in fostering sustainable development. This approach not only strengthens India's position on the global stage but also enhances the potential for impactful partnerships within the Global South.
NationPress
15/07/2025
Frequently Asked Questions
What is the New Development Bank (NDB)?
The New Development Bank (NDB) is an international financial institution established by the BRICS nations to finance infrastructure and sustainable development projects in emerging economies.
What are Digital Public Infrastructures (DPI)?
Digital Public Infrastructures (DPI) refer to digital systems and services that facilitate access to information and services, promoting inclusivity and efficiency in public administration.
Why is India focusing on collaboration with the Global South?
India aims to strengthen partnerships within the Global South to address shared challenges and promote sustainable development through knowledge exchange and innovation.
What impact does the African Union's inclusion in the G20 have?
The African Union's inclusion in the G20 represents a significant recognition of Africa's role in global discussions, allowing for more comprehensive dialogue on issues affecting the continent.
What are the expected growth prospects for the Indian economy?
India is projected to achieve a GDP growth of 6.5 percent in FY26, driven by robust domestic demand and favorable economic conditions.
