What Development Initiatives Did FM Sitharaman Discuss with the Indian Diaspora in Italy?
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Synopsis
In Milan, Finance Minister Nirmala Sitharaman engaged with the Indian diaspora, shedding light on transformative initiatives by Prime Minister Modi's government that aim to foster inclusive growth in India. Her praise for the diaspora's contributions highlights their critical role in both local and national economies.
Key Takeaways
- Nirmala Sitharaman highlighted PM Modi's initiatives for inclusive growth.
- The Indian diaspora significantly contributes to local economies.
- UPI transactions surged, demonstrating its robustness.
- There are over 55 crore Jan Dhan accounts with substantial deposits.
- The government's focus has shifted towards equitable service delivery.
Milan, May 6 (NationPress) Finance Minister Nirmala Sitharaman spoke to the Indian diaspora in Milan, Italy, emphasizing significant initiatives and policies under Prime Minister Narendra Modi’s administration aimed at promoting inclusive growth and development in India.
During an interactive session in Milan, the Finance Minister underscored crucial programs and steps taken by the Modi-led government to foster inclusive development in India. She also commended the Indian diaspora for their valuable contributions to both the local economy and society,” the Finance Minister's office shared on X.
While acknowledging the global Indian diaspora's impactful contributions, the Minister remarked, “The Indian diaspora is universally respected. They are recognized as constructive, positive contributors to their host economies.”
“You (the Indian diaspora) bring tremendous pride to India through your contributions as law-abiding citizens who care for and engage with the economies where you reside while maintaining a connection to your homeland,” she elaborated.
Discussing the accomplishments of PM Modi’s government, the Minister highlighted the remarkable growth of UPI, noting that in March 2025 alone, 1,800 crore transactions worth Rs 24 lakh crore were processed.
“Consider the strength with which UPI operates. Currently, there are 55.17 crore Jan Dhan accounts in India, holding a total deposit balance of Rs 2.614 lakh crore,” she added.
The Finance Minister pointed out that many previous governments failed to achieve what has been accomplished in the past decade due to inefficiencies in delivery, asserting that the current administration has prioritized equitable service delivery for all citizens.
Nirmala Sitharaman led an Indian delegation from the Department of Economic Affairs, Ministry of Finance to participate in the 58th Annual Meeting of the Asian Development Bank (ADB) Board of Governors in Milan, which took place from May 4 to 7, 2025.
Point of View
The ongoing dialogue between the Indian government and its diaspora is vital for fostering international ties. Nirmala Sitharaman’s engagement in Milan illustrates the government's commitment to inclusive growth, while acknowledging the diaspora’s invaluable contributions. This collaboration reflects a forward-thinking approach to nation-building.
NationPress
27/07/2025
Frequently Asked Questions
What initiatives did Nirmala Sitharaman discuss?
Nirmala Sitharaman highlighted key initiatives of Prime Minister Modi's government, including the significant growth of UPI and the focus on inclusive development.
Why is the Indian diaspora important?
The Indian diaspora plays a crucial role in contributing positively to local economies, enhancing India's global presence and fostering international relations.
What is UPI and its significance?
UPI, or Unified Payments Interface, is a digital payment system in India that has seen exponential growth, facilitating seamless transactions and financial inclusion.
What achievements have been made in the last decade?
The current government has implemented efficient delivery mechanisms that have enabled significant progress in inclusive growth and economic development.
What was the purpose of the meeting in Milan?
The meeting aimed to discuss developmental initiatives and strengthen ties between the Indian government and its diaspora during the Annual Meeting of the Asian Development Bank.
