5 days ago
Sitharaman proposes partnering with European Investment Bank on digitalization
Finance minister Nirmala Sitharaman on Tuesday met Nadia Calvino, president of the European Investment Bank (EIB) Group, and proposed partnering with the bank to take India's digitization expertise to third countries.
They met on the sidelines of the Fourth International Conference on Financing for Development (FFD4) in Seville, Spain.
Discussions were held on wide-ranging issues, including EIB's expanding portfolio in India—seven metro projects and an urban rail project—and diversifying in other sectors such as water and sanitation.
Digital diplomacy
Recognizing India's strength in digitalization and its role in promoting economic growth and inclusivity, the finance minister and Calvino also discussed the scope for partnering in third countries in this field and other areas.
Calvino looked forward to further strengthening of partnership between EIB and India.
The meeting with EIB followed Sitaraman's meeting with Dr. Shane Reti, Minister of Science, Innovation and Technology, Universities, Statistics and Pacific Peoples, New Zealand, on Monday evening at the same event.
The ministers discussed cooperation in defence, education, technology and agriculture, and shared values rooted in democracy, rule of law, and robust people-to-people ties.
Sitharaman discussed the world-class opportunities available at GIFT-IFSC in banking, bullion exchange, capital markets, funds ecosystem, FinTech, insurers and (re)insurers. The finance minister also noted educational exchange as a cornerstone of India-New Zealand ties with many Indian students pursuing higher education in New Zealand.
Reti agreed on the need for enhancing education sector ties, and also shared New Zealand's experience in engaging with the Pacific region.
Sitharaman also met Elmer Schialer Salcedo, Foreign Minister of Peru and Reem Alabali-Radovan, Minister for Economic Cooperation and Development, Germany, on the sidelines of FFD4 on Monday evening.
The finance minister discussed deepening strategic partnerships across FinTech, trade, investment, mining and defence, as well as the potential for collaboration in infrastructure projects, particularly the railways with the Peruvian minister.
Sitharaman highlighted India's expertise in building rail links and manufacturing of rolling stock. Salcedo said that he looked forward to India's participation in international bids for three rail links being developed in Peru.
The Union Finance Minister shared India's interest in diversifying exports to Peru, especially in automobiles, pharmaceuticals, textiles, engineering goods, and IT services; and valued imports of critical minerals such as copper and lithium from Peru - potentially key to India's energy transition and industrial growth.
With the German minister Radovan, Sitharaman discussed various areas of collaboration under the India-Germany Green and Sustainable Development Partnership including renewable energy, urban mobility, sustainable urban development and sustainable livelihoods through ecology.
