Modi addresses IMF's 'Advancing Asia' conference
Modi addressed the IMF conference and appreciated the IMF-Chief for holding an event to propel the global economy. Modi was glad that the long-pending IMF quota-revisions have come into effect but, said that they didn't reflect global economy realities. He stated that continuous policy reforms are necessary to promote growth. He added that Asia is the ray of hope for recovering the global economy.
International Monetary Fund would hold 'Advancing Asia', a three-day high-level conference to discuss the economy of Asia. The conference would examine the economic performance of Asia, and explore the policy challenges in Asia to keep up growth, and boost equality and job opportunities. The event would be co-hosted by the Government of India and would commence from 11–13 March 2016 at New Delhi
The conference would be attended by representatives from over 30 Asia-Pacific nations. Indonesian Finance Minister Bambang Brodjonegoro, Asian Development Bank President Takehiko Nakao, and Governor of Malaysian Bank Negara, Zeti Akhtar Aziz were expected to take part in the conference.
'Advancing Asia' was expected to be addressed by IMF Managing Director Christine Lagarde, Prime Minister Narendra Modi and Finance Minister Arun Jaitley. Lagarde had stated that she was pleased to support the conference and explore how Asia can meet policy challenges through future investments. She said that the conference would provide a platform for Asia-Pacific leaders to analyze Asia's economy success in the past.
The conference would focus on topics which would drive Asia to the next level of success such as dynamic growth drivers; inequality in income, gender; demographics; climate change; infrastructure investment; management of the flow of the capital; and inclusive financing.
Prime Minister Narendra Modi and the RBI Governor, Raghuram Rajan delivered the keynote address during the opening ceremony of the Asia economic conference. IMF's Managing Director Christine Lagarde was also a keynote speaker at the 'Advancing Asia' conference. Finance Minister Arun Jaitley participated in the 'South Asia Training and Technical Assistance Center' ceremony. Gates Foundation's Melinda Gates would also attend the three-day conference.
Lagarde appreciated 'Make in India' and 'Digital India', and said that women empowerment initiatives like 'Beti-Bachao' and 'Beti-Padhao' are essential. She spoke about improving girls' education, and breaking legal and logistical barriers, and supporting women to balance work and family.
Christine Lagarde, while addressing the conference appreciated the continuous reforms made by India amid the global economy challenges. She said, "India's star shines bright," and that India is capable of delivering two-thirds of the global economy-growth. She stated that India's economy was growing fast and in a decade would have the largest youngest-ever-workforce. She added that Asia's dynamism was the most notable global developments.
