FM meets Citibank CEO, discusses way forward for banking system in India

During the meeting, Fraser noted that the steps taken by the Government of India toward ease of doing business would streamline business processes.

Finance Minister Nirmala Sitharaman met Citibank CEO Jane Fraser on Monday to discuss the banking sector in light of the ongoing reforms and the way forward for India.

The two discussed the use of #AI in important sectors such as #agriculture and #UrbanDevelopment, as well as India’s booming #pharmaceutical sector, which is becoming a hub for the world, the finance ministry said in a post on X. Fraser praised the Finance Minister for India's digital payment transformation and commended the crucial reforms India has implemented for infrastructure creation to build an ecosystem around MSMEs. She emphasized the importance of integrating MSMEs into the supply chains.

During the meeting, Fraser noted that the steps taken by the Government of India toward ease of doing business would streamline business processes. The finance minister also met with BlackRock CEO Laurence Douglas Fink, where they discussed opportunities for global investors through the NIIF and IFSC GiftCity, as well as financing opportunities for GreenTech and battery storage. Fink informed that BlackRock is collaborating with private partners in India, focusing on infrastructure development.