Team Herald
PANJIM: Managing Director of India Infrastructure Finance Company Limited (IIFCL) PR Jaishankar stated that India is keeping pace with sustainable development while building infrastructure projects:
Jaishankar was delivering the address as the Chair of the XIX Council Meeting of the Shanghai Cooperation Organisation Interbank Consortium (SCO IBC) held in a starred hotel at Benaulim.
Jaishankar highlighted India’s achievements as the fifth largest economy in the world and its continued rise as a strong and vibrant democracy. He mentioned that India’s GDP growth in 2022 stood at 6.8%, outperforming major economies like the US, United Kingdom, and Europe.
He also highlighted India’s rapid digitization of the economy, sustainable development efforts, and significant growth in exports. India is keeping pace with Sustainable Development while building infrastructure projects, he added.
Jaishankar proposed four areas of cooperation for SCO IBC Members as follows: Efforts to be made towards taking initiatives to further expand cooperation among member banks; emphasis on exchange of experience, skills, and personnel training among SCO IBC Member Banks, building on positive strides already made in this direction; support for the initiative to form an electronic collection of the SCO IBC signed documents for the 20th anniversary of the Consortium and encouragement for member banks to strengthen partnerships within the framework of SCO IBC.
Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance, highlighted India’s economic resilience, robust financial infrastructure, and financial sector reforms that have supported India’s growth story. He mentioned the Pradhan Mantri Jan DhanYojana (PMJDY), launched as the National Mission on Financial Inclusion in 2014, as a notable initiative to extend the reach of financial services to the unserved and underserved sections of society.
The SCO IBC Council meeting also focused on the increased sensitivity towards climate change and the need for sustainable development.
