Washington, September 16 (Daily Kiran) : After a five-day visit to India, Nigel Clarke, the Deputy Managing Director of the International Monetary Fund (IMF), expressed confidence in India’s ability to spearhead the next wave of global economic growth. He attributed this potential to the country’s robust economic foundation, rapid advancements in the private sector, and continuously improving technological capabilities.
During his trip, Clarke held significant meetings in New Delhi, Mumbai, and Chennai. In a statement from Washington, he remarked, “India has the capacity to propel the next phase of global economic expansion, and the IMF will remain a close partner in this journey.”
This visit marked Clarke’s first trip to India since assuming his role at the IMF. He met with key figures including Finance and Corporate Affairs Minister Nirmala Sitharaman, Reserve Bank of India Governor Sanjay Malhotra, and NITI Aayog Vice Chairman Ashok Kumar Lahiri.
Clarke expressed his delight at visiting India for the first time in his new position, highlighting the valuable discussions he had with senior officials and industry leaders. He thanked Sitharaman, Malhotra, and Lahiri for their warm welcome and constructive dialogues.
Identifying India as the world’s fastest-growing major economy, Clarke emphasized the country’s crucial role in global economic development. He stated, “Thanks to a strong economic base and sound policies, India remains the fastest-growing major economy and a key engine of global growth.”
His discussions with Indian policymakers covered the nation’s economic status, shifts in global conditions, and necessary steps for sustainable, inclusive economic growth. Clarke stressed the importance of maintaining economic stability amid rising uncertainties and changing risks worldwide.
He noted that policies should remain flexible to adapt to circumstances, keep inflation in check, and promote reforms that enhance productivity, strengthen competition, and sustain rapid growth in the medium term. Clarke also acknowledged the Indian government’s support for multilateral cooperation and assistance to other countries in the region.
Throughout his visit, he engaged with numerous business leaders to understand how India’s private sector contributes to the nation’s economic advancement. He expressed admiration for the energy of the business community, the talent present in India, and the rapidly evolving technological and manufacturing capabilities.
According to Clarke, innovation, digital transformation, advanced manufacturing, and the adoption of new technologies are significant factors that can enhance productivity and competitiveness. He concluded that discussions revealed a clear understanding that these elements could foster economic activities with higher value and strengthen competition.
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