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India Gazette
5 days ago
- Business
- India Gazette
FM Sitharaman highlights India's reforms, investment opportunities in her address at FFD4 Summit in Spain
Seville [Spain], July 1 (ANI): Union Minister for Finance and Corporate Affairs Nirmala Sitharaman, currently on an official visit to Spain, Portugal, and Brazil, delivered a strong pitch for mobilising private capital for sustainable development at the International Business Forum Leadership Summit titled 'From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development' in Seville, Spain. Addressing global leaders and investors, Sitharaman highlighted that while private investment has shown encouraging growth in recent years, thanks to a rise in innovative financial instruments and traditional sources, much more needs to be done. In a social media post, the minister said, 'Private capital mobilisation remains significantly below what is required, with low and middle-income countries receiving a disproportionately small share. This underscores the urgent need for targeted efforts to overcome investment barriers and better align financial flows with development priorities.' Highlighting India's own journey, Sitharaman stressed the importance of addressing perceived investment risks in emerging markets. India, she noted, has taken significant steps to overcome these challenges. Sitharaman stated, 'India has addressed this challenge by establishing independent regulators, implementing transparent bidding processes, standardising contracts, and improving the ease of doing business. These reforms have significantly enhanced investor confidence and reduced transaction costs.' The Finance Minister also highlighted the role of strong domestic financial systems. India has focused on strengthening its banking sector and deepening capital markets to support large-scale financing in infrastructure and industry. She said India's regulatory frameworks now better balance investor protection with innovation and flexibility, creating an enabling environment for long-term investment. FM added, 'Our regulatory frameworks have evolved with market needs - balancing investor protection with innovation and flexibility - creating a more conducive environment for long-term investment.' One of the standout examples presented by Sitharaman was India's transformation in the renewable energy sector. From just 2.8 GW of solar energy installed in 2014, India has expanded its capacity to over 110 GW. This success, she said, 'was enabled by clear national targets, streamlined procurement, and government-backed risk mitigation. This model attracted institutional investors, including pension and sovereign wealth funds.' On the sidelines of the FFD4 Summit, Sitharaman also held bilateral meetings with various global leaders. She met Shane Reti, New Zealand's Minister of Science, Innovation and Technology, Universities, Statistics, and Pacific Peoples. Both ministers discussed cooperation in defence, education, technology, and agriculture. The two leaders reaffirmed the shared democratic values and strong people-to-people ties between India and New Zealand. Sitharaman also spoke about India's growing International Financial Services Centre at GIFT City and highlighted investment opportunities in banking, bullion exchange, capital markets, the FinTech ecosystem, insurance, and reinsurance. She also noted the importance of educational ties, with many Indian students pursuing higher education in New Zealand. The Finance Minister also held talks with Reem Alabali-Radovan, Germany's Federal Minister for Economic Cooperation and Development. Sitharaman congratulated her on her new role and discussed cooperation under the India-Germany Green and Sustainable Development Partnership. The discussions included collaboration in areas such as green energy, urban mobility, sustainable urban development, and ecological livelihoods. Minister Alabali-Radovan expressed interest in deepening bilateral ties and enhancing cooperation with India. Sitharaman is leading an Indian delegation from the Department of Economic Affairs during this official trip from June 30 to July 5. Her itinerary includes a visit to Lisbon, Portugal, where she will hold a bilateral meeting with the Portuguese Finance Minister and interact with the Indian diaspora and investors. In Rio de Janeiro, Brazil, she will address the 10th Annual Meeting of the New Development Bank (NDB) as India's Governor and also participate in the BRICS Finance Ministers and Central Bank Governors Meeting. She is also expected to hold bilateral discussions with her counterparts from Brazil, China, Indonesia, and Russia. (ANI)
Hans India
5 days ago
- Business
- Hans India
FM Sitharaman meets key leaders in Spain to boost bilateral relations
Seville (Spain): Finance Minister Nirmala Sitharaman had several bilateral meetings on the sidelines of the International Business Forum Leadership Summit here, where she discussed cooperation in mutual areas of interest in defence, education, technology and agriculture, among other sectors. She met Dr Shane Reti, Minister of Science, Innovation and Technology, Universities, Statistics and Pacific Peoples, New Zealand. Both ministers discussed cooperation in mutual areas of interest in defence, education, technology and agriculture, and shared values rooted in democracy, rule of law, and robust people-to-people ties. The Finance Minister discussed the world-class opportunities available at GIFT-IFSC in terms of banking, bullion exchange, capital markets, funds ecosystem, FinTech, insurers and reinsurers. 'She noted educational exchange as a cornerstone of India-New Zealand relationship with many Indian students pursuing higher education in New Zealand,' according to a post on X by Finance Ministry. Dr Reti agreed to the need for enhancing education sector ties bilaterally, and also shared New Zealand's experience in engaging with the Pacific. The Finance Minister highlighted India's strong partnership with Pacific Island Countries, and looked forward to enhancing engagement along with New Zealand through the Pacific Islands Forum. She also met Elmer Schialer Salcedo, Foreign Minister of Peru, on the sidelines of the 'FFD4' meeting. The two leaders discussed deepening strategic partnerships across FinTech, trade, investment, mining and defence, as well as the potential for collaboration in infrastructure projects, particularly the railways, according to an official statement. FM 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 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 - a potential key for India's energy transition and industrial growth. She met Germany's Development Minister Reem Alabali Radovan and congratulated her on her recent appointment as Federal Minister for Economic Cooperation and Development. They discussed various mutual areas of collaboration under India-Germany Green and Sustainable Development Partnership including green and renewable energy, urban mobility and sustainable urban development; and sustainable livelihoods through ecology. Alabali-Radovan looked forward to strengthening bilateral relations with India and stated that Germany would like to have greater cooperation with India, said the Ministry.
Time of India
5 days ago
- Business
- Time of India
FM Sitharaman highlights India's reforms, investment opportunities in FFD4 Summit in Spain
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman , currently on an official visit to Spain, Portugal, and Brazil, delivered a strong pitch for mobilising private capital for sustainable development at the International Business Forum Leadership Summit titled "From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development" in Seville, Spain. Addressing global leaders and investors, Sitharaman highlighted that while private investment has shown encouraging growth in recent years, thanks to a rise in innovative financial instruments and traditional sources, much more needs to be done. In a social media post, the minister said, "Private capital mobilisation remains significantly below what is required, with low and middle-income countries receiving a disproportionately small share. This underscores the urgent need for targeted efforts to overcome investment barriers and better align financial flows with development priorities." Highlighting India's own journey, Sitharaman stressed the importance of addressing perceived investment risks in emerging markets . India, she noted, has taken significant steps to overcome these challenges. Sitharaman stated, "India has addressed this challenge by establishing independent regulators, implementing transparent bidding processes, standardising contracts, and improving the ease of doing business . These reforms have significantly enhanced investor confidence and reduced transaction costs." Live Events The Finance Minister also highlighted the role of strong domestic financial systems. India has focused on strengthening its banking sector and deepening capital markets to support large-scale financing in infrastructure and industry. She said India's regulatory frameworks now better balance investor protection with innovation and flexibility, creating an enabling environment for long-term investment. FM added, "Our regulatory frameworks have evolved with market needs - balancing investor protection with innovation and flexibility - creating a more conducive environment for long-term investment." One of the standout examples presented by Sitharaman was India's transformation in the renewable energy sector. From just 2.8 GW of solar energy installed in 2014, India has expanded its capacity to over 110 GW. This success, she said, "was enabled by clear national targets, streamlined procurement, and government-backed risk mitigation. This model attracted institutional investors, including pension and sovereign wealth funds." On the sidelines of the FFD4 Summit, Sitharaman also held bilateral meetings with various global leaders. She met Shane Reti, New Zealand's Minister of Science, Innovation and Technology, Universities, Statistics, and Pacific Peoples. Both ministers discussed cooperation in defence, education, technology, and agriculture. The two leaders reaffirmed the shared democratic values and strong people-to-people ties between India and New Zealand. Sitharaman also spoke about India's growing International Financial Services Centre at GIFT City and highlighted investment opportunities in banking, bullion exchange, capital markets, the FinTech ecosystem, insurance, and reinsurance. She also noted the importance of educational ties, with many Indian students pursuing higher education in New Zealand. The Finance Minister also held talks with Reem Alabali-Radovan, Germany's Federal Minister for Economic Cooperation and Development. Sitharaman congratulated her on her new role and discussed cooperation under the India-Germany Green and Sustainable Development Partnership. The discussions included collaboration in areas such as green energy, urban mobility, sustainable urban development, and ecological livelihoods. Minister Alabali-Radovan expressed interest in deepening bilateral ties and enhancing cooperation with India. Sitharaman is leading an Indian delegation from the Department of Economic Affairs during this official trip from June 30 to July 5. Her itinerary includes a visit to Lisbon, Portugal, where she will hold a bilateral meeting with the Portuguese Finance Minister and interact with the Indian diaspora and investors. In Rio de Janeiro, Brazil, she will address the 10th Annual Meeting of the New Development Bank (NDB) as India's Governor and also participate in the BRICS Finance Ministers and Central Bank Governors Meeting. She is also expected to hold bilateral discussions with her counterparts from Brazil, China, Indonesia, and Russia. (ANI)
Time of India
6 days ago
- Business
- Time of India
FM Nirmala Sitharaman calls for reforms in global sovereign rating methodologies
Finance minister Nirmala Sitharaman on Friday called for reforming the methodologies adopted by global agencies, stressing that their ratings don't fully reflect India's strong macroeconomic stability and that they 'often understate key fundamentals'. Reforming the rating methodologies, the minister said, would 'not only enhance fairness but also reduce financing costs and unlock far greater volumes of private investment'. These methodologies, she asserted, must 'evolve to better reflect the structural strengths and long-term resilience of EMDEs (emerging market and developing economies)'. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Navio porta-contentores encontra piratas: veja o que faz o capitão! Happy in Shape Undo Sitharaman was delivering a keynote address at the International Business Forum Leadership Summit, in Seville, Spain. It's being held alongside the Fourth International Conference on Financing for Development (FFD4), organised by the United Nations. She is on a visit to Spain, Portugal and Brazil between June 30 and July 5 to attend a number of key events, including the first meeting of the finance ministers and central bank governors of the BRICS grouping in Rio de Janeiro. Live Events The top three global rating agencies—S&P, Moody's and Fitch--have effectively retained their sovereign ratings for India at the lowest investment grade for more than a decade-and-a-half despite its leap to the world's fifth-largest economy spot from the 12th largest during this period. The minister indicated that India's sustained high growth trajectory and sound fiscal management haven't been adequately appreciated by the global agencies while assigning sovereign rating. India has remained the world's fastest-growing major economy since 2021-22 and is forecast by the International Monetary Fund (IMF) to retain the status at least until 2026-27. In fact, the IMF's projected growth rates for India of 6.2% this fiscal and 6.3% for FY27, are more-than-double the global averages. The finance ministry has, this month, made a pitch to both S&P and Moody's for a rating upgrade for India. S&P has retained its sovereign rating for India at the lowest investment grade of 'BBB-". But last year it upgraded its outlook on the country to positive from stable after a decade. Moody's has maintained its rating for India at the same level--"Baa3"—but with a stable outlook. Fitch has also assigned a similar rating (BBB-) with a stable outlook. Strategy to draw private investments Sitharaman highlighted the need for a multi-pronged strategy, combining strong domestic reforms with heightened international cooperation, for effective mobilization of private capital to better align financial flows with development priorities of nations. In an era of volatile FDI flows and mounting global uncertainty, the minister said, private capital has emerged as an increasingly key source of development finance . However, mobilization remains a huge challenge, especially for low-and middle-income countries. Sitharaman dwelt on seven strategic areas where transformation is both necessary and achievable to draw large private investments, citing useful insights from India's experience. First, strong domestic financial markets, with robust regulatory frameworks, are the foundation of investment. Second, addressing perceived risks through institutional reforms is crucial. Third, scale in investment opportunities must be created. The presence of a well-prepared, de-risked, and investment-ready project pipeline is critical. Fourth, blended finance needs to be scaled up. Fifth, multilateral development banks (MDBs) and development finance institutions (DFIs) must assume a stronger enabling role. Sixth, international credit rating methodologies have to evolve to better reflect the structural strengths and long-term resilience of emerging market and developing economies. 'Finally, unlocking capital at the grassroots level requires support for MSMEs. These engines of inclusive growth need access to credit, technology, and capacity-building, along with simplified compliance frameworks,' she said.
India Gazette
6 days ago
- Business
- India Gazette
FM Nirmala Sitharaman embarks on official visit to Spain, Portugal and Brazil from June 30 to July 5
New Delhi [India], June 30 (ANI): Union Minister for Finance & Corporate Affairs Nirmala Sitharaman will lead the Indian delegation from the Department of Economic Affairs, Ministry of Finance, on an official visit to Spain, Portugal and Brazil from 30th June to 5th July 2025. According to the Ministry of Finance, as part of her visit to Seville, Spain, the Union Finance Minister will attend the 4th International Conference on Financing for Development (FFD4) organised by the United Nations and deliver a statement on behalf of India. The Union Finance Minister will also participate and deliver a keynote address at the International Business Forum Leadership Summit on 'From FFD4 Outcome to Implementation: Unlocking the Potential of Private Capital for Sustainable Development', in Seville. On the sidelines of the FFD4, Sitharaman will meet senior ministers from Germany, Peru and New Zealand, and the President of, European Investment Bank (EIB). As part of her visit to Lisbon, Portugal, the Union Finance Minister is expected to have a bilateral meeting with the Minister of Finance, Portugal, besides interacting with prominent investors and members of the Indian diaspora. At Rio de Janeiro, the Union Finance Minister will address the 10th Annual Meeting of the New Development Bank (NDB) as India's Governor and also attend the BRICS Finance Ministers and Central Bank Governors Meeting (FMCBG). As part of the NDB meetings, Sitharaman will also deliver an address during the NDB Flagship Governors Seminar on 'Building a Premier Multilateral Development Bank for the Global South'. On the sidelines of the NDB meetings, the Union Finance Minister will hold bilateral meetings with her counterparts from Brazil, China, Indonesia and Russia. Earlier, on June 28, the Finance Minister chaired the annual review meeting with MDs and CEOs of Public Sector Banks (PSBs) in New Delhi. The meeting reviewed performance across key areas with a focus on Financial Strength, Inclusive Lending, Cyber Security, and Customer-Centric Innovation in FY 2024-25. PSBs posted a record net profit of 1.78 lakh crore, reflecting the continued strengthening of financial performance. Net Non-Performing Assets (NNPAs) declined to a multi-year low of 0.52%, indicating sustained improvement in asset quality and risk management. The Union Finance Minister directed the PSBs to participate actively in the upcoming 3-month Financial Inclusion saturation campaign, beginning July 1, 2025, covering 2.7 lakh Gram Panchayats and Urban Local Bodies. (ANI)
