Finance Minister Nirmala Sitharaman in US to attend IMF-World Bank meeting
Washington/New Delhi, Apr 21 (UNI) Union Finance Minister Nirmala Sitharaman arrived in the US on a five-day official visit during which she will attend the Spring Meetings of the IMF-World Bank.
She will also participate in the G20 Finance Ministers and Central Bank Governors (FMCBG) meetings besides bilateral meetings with many countries and organisations.
She was welcomed on her arrival by Indian Ambassador to the US Vinay Mohan Kwatra, and Srikar Reddy Koppula, Consul General of India in San Francisco.
'Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman is welcomed upon her arrival during her official visit to the USA by Shri Vinay Mohan Kwatra, Ambassador of India to the United States of America, along with Dr. Srikar Reddy Koppula, Consul General of India in San Francisco in presence of Shri Ajay Seth, Finance Secretary, at San Francisco International Airport, today,' the Ministry of Finance posted on X.
In the course of her two-day visit to San Francisco beginning April 20, the Union Finance Minister is to deliver a keynote address at the Hoover Institution at the Stanford University, San Francisco, on 'Laying the foundations of Viksit Bharat 2047' followed by a fireside chat session.
Sitharaman will also interact with top CEOs from prominent fund management firms during a Roundtable meeting with investors, besides holding bilateral meetings with CEOs from top information technology (IT) firms based in San Francisco. Sitharaman will also participate in an event featuring Indian diaspora in San Francisco and interact with the Indian community settled there, a statement said.
During her visit to Washington, from April 22-25, the Finance Minister will participate in the Spring Meetings of the International Monetary Fund (IMF) and the World Bank, the 2nd G20 Finance Ministers and Central Bank Governor (FMCBG) Meetings, Development Committee Plenary, IMFC Plenary, and Global Sovereign Debt Roundtable (GSDR) meeting.
On the sidelines of the Spring Meetings in Washington, she will hold bilateral meetings with her counterparts from several countries, including Argentina, Bahrain, Germany, France, Luxembourg, Saudi Arabia, United Kingdom, and USA; besides meeting EU Commissioner for Financial Services; President, Asian Development Bank (ADB); President, Asian Infrastructure Investment Bank (AIIB); United Nations Secretary-General's Special Advocate for Financial Health (UNSGSA); and First Deputy Managing Director of the International Monetary Fund (IMF).
During her maiden visit to Peru from April 26-30, the Union Finance Minister will lead an Indian delegation of officials from the Ministry of Finance and business leaders, highlighting the strengthening bilateral economic and trade relations between the two nations.
Beginning her visit in Lima, Finance Minister Sitharaman is expected to call on the President of Peru, Dina Boluarte, and Prime Minister Gustavo Adrianzén, besides holding bilateral meetings with the Peruvian Ministers of Finance and Economy; Defence; Energy and Mines; and also holding interaction with local public representatives.
In the course of her visit to Peru, the Union Finance Minister will chair the India-Peru Business Forum meeting with prominent business representatives in attendance from both India and Peru. She will also hold an interaction with the Indian investors and businesses currently operating in Peru, as well as the Indian Business delegation visiting Peru.
Given Peru's importance in the global supply chain of critical minerals and precious metals, discussions during these engagements are also expected to explore avenues for greater collaboration in the mining sector, particularly to strengthen India's resource security and facilitate value-chain linkages between the two economies.
The Union Finance Minister will also participate in a community event at Lima, where she will interact with the Indian diaspora living in Peru, the statement added.
UNI RN
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
40 minutes ago
- Mint
India in anti-dumping crosshairs: US, Pakistan target Indian exports at WTO
New Delhi: The US, Brazil and Pakistan have initiated anti-dumping measures against India, which has been fighting its own battle against low-priced products flooding domestic markets. Trade experts suggest some of these measures may be strategic, signalling a growing wave of trade defense actions against India and aimed at influencing New Delhi's trade negotiations with key partners. Pakistan's anti-dumping charges against India are particularly baffling, as the two duelling neighbours have banned any trade between them. Yet, Pakistan has initiated an anti-dumping investigation against India over exports of sulfonic acid, which is used in manufacturing detergents, dyes, and catalysts, according to a World Trade Organization report released late on Thursday (12 June). The WTO document details preliminary and final anti-dumping measures undertaken by 11 members of the trade body, including major economies such as the US, Brazil, Pakistan, Indonesia, and the UK, against various countries. The report is based on notices submitted in May under Article 16.4 of the WTO Anti-Dumping Agreement. 'Such measures reflect the growing wave of trade protectionism aimed at shielding domestic industries," said Abhash Kumar, a trade economist and assistant professor of economics at Delhi University, referring to the anti-dumping charges against India. 'The repeated targeting of Indian products highlights the need for India to adopt a more proactive trade defense strategy." The commerce ministry didn't immediately reply to Mint's queries on the development. Amid India-US trade talks India and the US concluded a fifth round of face-to-face talks on 10 June on streamlining tariffs and reducing non-tariff barriers towards finalising a landmark bilateral trade agreement. But New Delhi also approached the WTO over the US's steep tariffs on Indian steel, aluminium and auto component exports. Washington has rejected India's notices at the WTO against the US's 25% tariff on steel and aluminium—both of which have since been increased to 50%—as well as the 25% duty on auto components. However, as per a Mint report on 10 June, the US has agreed to discuss both issues with India outside the WTO framework. Amidst this, the US has initiated a broad set of investigations into Indian exports across critical sectors, according to the WTO report. These include ceramic tiles, cold-drawn mechanical tubing of carbon and alloy steel, and corrosion-resistant steel products, which are central to India's manufacturing and infrastructure export strategy. Also read | US puts hard terms on table, presents a take-it-or-leave-it offer India's total exports of ceramic products to the US stood at $403.87 million in 2023-24, but declined to $361.44 million in FY25, according to commerce ministry data. In the chemical sector, Indian-origin epoxy resins, glycine, melamine, and granular polytetrafluoroethylene (PTFE) resins are facing trade restrictions. The US has also listed Indian exports of 2,4-D herbicide and raw honey under anti-dumping scrutiny, pointing to growing tensions over India's role in global agricultural commodity markets. Exports of Indian-origin resins to the US increased from $358.07 million in FY24 to $448.73 million in FY25, while India's honey exports to the US jumped from $176.29 million to $204.58 million. Pakistan's puzzling charges India's challenges are not limited to Washington. Brazil has named India in an investigation into pre-painted steel, raising concerns over competitive steel pricing from South Asia. Pakistan, meanwhile, has initiated an anti-dumping investigation into sulphonic acid imports from six countries, including India. This development is particularly puzzling given that India banned exports to Pakistan after the Pulwama attack in 2019, and Pakistan banned all trade with India in August 2019 following India's decision to revoke Article 370 in Jammu and Kashmir. With direct imports from India into Pakistan prohibited for nearly six years, analysts suggest that Islamabad's investigation may be aimed at Indian-origin sulphonic acid entering Pakistan through third countries such as the UAE, Singapore, or Malaysia. Also read | After US's 50% tariff blow, India now faces EU heat on steel quotas 'These shipments may have been relabelled to hide their Indian origin, raising concerns within Pakistan's domestic industry. It's also possible that the investigation is based on the injury caused by imports that took place before the trade ban came into effect," said Ajay Srivastava, co-founder of the Global Trade Research Initiative, a think tank. 'Alternatively, the move could be strategic, aimed at formally challenging India's pricing practices and laying the groundwork for future trade negotiations," he added. India's anti-dumping woes India's trade investigation body, the Directorate General of Trade Remedies (DGTR), has initiated 11 anti-dumping investigations and issued final findings in 13 cases—mostly targeting Chinese products—in FY25. In the past, India had launched an anti‑dumping probe on high‑speed steel imports from Brazil in 2018. In January this year, the DGTR launched anti-dumping investigations into imports of nylon filament yarn and sulphenamides accelerators originating from the US. 'As anti-dumping actions rise globally, including from key partners like the US, India will use both its legal rights at the WTO and the ongoing BTA negotiations to defend its exporters, push for fairer trade rules, and address protectionist barriers," a government official said. However, India did not file any new cases during the May reporting period.
Time of India
41 minutes ago
- Time of India
UK: Three British Hindus beaten up in London park in racially motivated attack
This is an AI-generated image, used for representational purposes only LONDON: Three British Hindu men were asked their ethnicity in a London park and, when they replied they were Indian and Sri Lankan, were viciously beaten up in an unprovoked attack by three older men who appeared to be Muslim, it has emerged. Two of the men suffered blows to the head and were left unconscious; all had to go to Northwick Park Hospital. They have all been left with cuts and bruises and two have been left with facial fractures. Tory MP Bob Blackman raised the case in the House of Commons on Thursday, describing it as 'religious hatred.' TOI has now tracked down the sister of one of the men, a British Indian Gujarati Hindu, aged 20, a first-year university student studying radiography. It turns out he had gone to Harrow Recreation Ground with two friends on May 30 to play cricket. The friends are British Hindus of Sri Lankan descent, aged 20 and 21. The three of them went to a shop at 6 pm, walking past a café where a group of around eight people were seated. It appeared to be a Muslim family, with some of the women wearing hijabs. They looked back at their other friends playing cricket when one of the men outside the café got up and confronted the three Hindus and asked them why they were looking at his family, his sister told TOI. They replied that they were not looking at his family and were looking at friends playing cricket. Then a slightly older man from the café group came over and asked: 'What is your problem? Why are you talking to my brother?' The three men tried to defuse the situation and the two men seemed to accept their answer. They went back to the park and sat on a bench. Around 30 minutes later, three men from the cafe group, in their mid to late 20s, came over and became very aggressive, asking, 'Where are you from? Are you Sri Lankan? Are you Indian?' To which one of the Sri Lankan-origin men replied: 'Yes, we are.' The three men then beat them up relentlessly, punching and kicking them until the British Indian and his friend were left lying unconscious on the ground, the sister said. 'My brother was wearing a sacred thread from a mandir on his wrist,' the sister said. One of the attackers was wearing a Moroccan football T-shirt with the number 2 and the word 'Hakimi'. Police and ambulances arrived and the British Indian was taken to the hospital. The other two had to make their own way there. 'My brother is struggling. He feels as if people are looking at him and is ashamed to step out of the house. He has never been involved in a fight before,' the sister told TOI on Friday. 'He has just done his first-year exams and was meant to resume his two-week clinical placement the week after the attack and that has been put on hold.' She also said she was unhappy with how the police investigation was progressing, as two weeks later, they still had not examined CCTV footage. The Met Police told TOI they were called to deal with a 'fight' and one man was taken to hospital 'with a head injury'. 'There is no evidence at this time that this attack was racially motivated. Our enquiries into the circumstances continue. No arrests have been made,' a spokesperson said.
Mint
42 minutes ago
- Mint
Sitharaman to review ease of doing business, trade and refunds with top tax officers
Finance minister Nirmala Sitharaman will meet senior officials of direct and indirect tax administrations later this month to discuss measures to improve the ease of doing business, support trade and reduce the time taken to address grievances, said a person informed about the development. Sitharaman will meet principal chief commissioners in the Central Board of Indirect Taxes and Customs (CBIC) on 20 June; and their counterparts in the Central Board of Direct Taxes (CBDT) on 23 June, the person said on condition of not being named. She will review the performance of field formations handling Goods and Services Tax (GST) and customs at the meeting with CBIC officers. Export refunds, cargo delays in focus The minister is expected to lay special emphasis on timely tax refund processing, especially in export and special economic zone or SEZ-linked categories, the person said. 'Delays beyond 60 days will be scrutinised and zones may be asked to explain pendency and rejection trends with detailed analytics." Sitharaman will also review the dwell time of cargo clearance across ports and airports. Also Read: Govt to launch nationwide drive to return unclaimed bank deposits, dividends Data on automated clearances of shipments based on their low risk profile, interdictions and the time taken for shipment examination will be reviewed across different zones such as Delhi and Mumbai, the person said. High pendency in Directorate General of GST Intelligence (DGGI) investigations, especially those pending over 180 days, are likely to draw critical attention, the person said. Sitharaman is expected to stress time-bound vigilance action, accountability in physical verification outcomes, and use of technology for process efficiency, highlighting the government's dual focus on compliance and trade facilitation, according to the person quoted earlier. I-T review to track refunds, cases The minister's interaction with principal chief commissioners of the Income Tax Department on 23 June will focus on improving taxpayer service delivery, litigation management, and systems accountability. The minister will review age-wise pendency of appeals and push for faster disposal of legacy cases to reduce the litigation burden on the system. Delays in issuing refunds, including those held up due to non-processing of returns under preliminary assessment, and rectification cases impacted by system-related issues, will be reviewed. Also Read: Reform push: Insurance amendment bill heads to Parliament Field officers are expected to present data on pending queries raised with the department's Centralised Processing Centre in Bengaluru, average disposal times and unresolved grievances raised in an online portal. The minister is likely to question zones with vigilance cases pending beyond permissible timelines and disciplinary matters not acted upon for months, the person quoted above said. Sitharaman is also expected to appreciate best practices adopted by select regions and reiterate the need for a taxpayer-centric, tech-enabled, and transparent ecosystem across the department. Queries emailed to the finance ministry, the CBDT and to CBIC on Friday seeking comments remained unanswered at the time of publishing. Both the apex tax policy-making bodies recently finalized their strategies for the current financial year. Also Read: E-way bills shoot up to 122.7 million in May, the second-highest on record CBDT set revenue targets for its different zonal offices to meet the full year direct tax target of ₹25.2 trillion and urged its officers to follow a trust-based approach, Mint had reported on 3 May. CBIC also has laid down its plan for a supportive, people-focused and tech-driven tax administration for FY26, chairperson Sanjay Kumar Agarwal informed officers in a communication, Mint reported on 9 June.
