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Finance Minister Nirmala Sitharaman expressed optimism over growth of Indian economy and said that the country’s economic growth is likely to be robust at 8.9 percent in the current financial year (2022-23), reflecting its strong resilience and speedy recovery.

Sitharaman also expressed confidence that India will continue to achieve a high growth rate in the next financial year as well. She underscored the importance of multilateralism and the spirit of global cooperation for economic recovery. She also emphasised that developing innovative financial products and services, and incentivising strategic investments are crucial to maximising development impact.

Besides, addressing the 7th Annual Meeting of the Board of Governors of New Development Bank (NDB), she acknowledged that NDB has successfully established itself as a reliable development partner for emerging market economies. She added NDB will play a significant and meaningful role in the development journey of its member countries in the decades to come.