Prime Minister Narendra Modi visits the United States

In my June 21st Wall Street Journal op-ed, I highlighted India's growth path and its importance.

Prime Minister Narendra Modi of India discussed India’s growth plans in our February and May meetings earlier this year.?The conversations focused on actions that would help India achieve its goals of 8% growth and a much higher level of median income.?This would help bring better balance to the world during a period of dangerously slow global growth and supply chain dependence on China.

In my February 2023 bilateral meetings in New Delhi with Prime Minister Modi and Finance Minister Nirmala Sitharaman, I encouraged India's actions to reduce subsidies and government deficits, increase capital market activity, and ease the regulatory burden.?I praised the relative stability of the rupee amid turbulent international markets.?

I also welcomed India’s participation in debt restructurings and its co-leadership of the Global Sovereign Debt Roundtable launched in Bengaluru.

During my tenure as President of the World Bank, I found my frequent conversations with PM Modi – in New Delhi, on the sidelines of multiple meetings of the G7, G20, UNGA, and COP and during joint addresses -- to be highly engaging.??

I was heartened by the Prime Minister’s knowledge of growth statistics and energetic engagement in the policy ingredients needed for faster growth. The PM spoke animatedly of the relative performance of sectors, Indian states, various country programs; the importance of sanitation and clean water; and the energy and electricity challenges facing a fast-growing country.

Prime Minister Modi's vigorous promotion of yoga and his Lifestyle for Environment (LiFE) initiative was welcome, and I was glad to participate with him at events focused on a whole-of-life approach to sustainability.?At his launch of LiFE on World Environment Day, I discussed the connection of LiFE to the economy.?

As President of the World Bank Group, I also visited India in 2019 ?-- during the Diwali celebrations. From my first meetings with Prime Minister Modi, I was encouraged to hear his focus on quality infrastructure, civil service reform, and achieving high, sustainable growth for the people of India. ?On financial sector innovation, he hosted me at a major 2019 conference discussing bank and non-bank regulatory reform.

During my participation in a two-day Gujarat conference with India’s civil servants in 2019, I discussed the importance Mahatma's Gandhi's vision of peace, tolerance and modesty, and the inspiration this vision provides to the world. ?In recent years, India is one of the world's development success stories. Prime Minister Modi's travels this week will allow deeper ties and more discussion of India’s steps to achieve broad-based growth.

-David