FM reiterates India’s focus on private sector-led economic growth during ADB Annual meeting

Union Finance Minister Nirmala Sitharaman met Asian Development Bank ADB President Masato Kanda during the 58th ADB Annual Meeting at Milan in Italy today. During the meeting, the Finance Minister reiterated that India focuses on private sector-led economic growth and has been consistently creating a conducive policy and regulatory ecosystem through bold initiatives for greater Ease of Doing Business. 

These initiatives include the Insolvency and Bankruptcy Code,



Corporate Tax Rate Reduction, GST implementation, Production-Linked Incentives, GatiShakti National Master Plan and Startup India, among others. Mrs Sitharaman emphasised that India offers opportunities for ADB to pilot new and innovative financing products. 

The ADB President expressed ADB‘s full support to India’s development priorities, guided by Prime Minister Narendra Modi’s vision of Viksit Bharat 2047.