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FM Arun Jaitley to attend World Bank-IMF meet, woo investors in US

Jaitley will also meet American CEOs and investors during his trip to the US.

business Updated: Apr 19, 2017 15:04 IST
Raj Kumar Ray
Union finance minister, Arun Jaitley will meet American CEOs and investors during his trip to the US.
Union finance minister, Arun Jaitley will meet American CEOs and investors during his trip to the US.(HT file photo)

Finance minister Arun Jaitley will leave on a five-day trip to the United States where he will attend the World Bank and International Monetary Fund’s spring meetings, and also woo investors.

Jaitley will be accompanied by his officials at the finance ministry including economic affairs secretary Shaktikanta Das, chief economic adviser Arvind Subramanian and Reserve Bank of India governor Urjit Patel, at the spring meeting.

India has been pushing for changes in the Bretton Woods Institutions for quite some time including quota reforms for greater say for emerging economies, and recapitalisation.

Both World Bank and IMF had coined India as the “bright spot” in the global economy even though they lowered growth projections for the country after demonetisation.

Jaitley, who will leave for the US on April 19, is likely to hard-sell the India growth story.

On April 21, Jaitley and Patel are scheduled to participate in the G-20 meeting on financial sector development and regulations. They are also slated to attend the IMF committee’s meeting on global development and prospects, and another session on early warning exercise.

Jaitley will also meet American CEOs and attend a dinner hosted by the Ambassador of India in the USA.

On April 22, the finance minister will meet with his US counterpart and treasury secretary Steven Mnuchin.

Jaitley and his team will participate in the development committee plenary meeting of the World Bank and interact with World Bank president Jim Yong Kim.

On April 23, the finance minister will address industry leaders at New York at a dinner hosted by the FICCI.

On April 24, Jaitley will hold a brainstorming session with institutional investors and a luncheon meeting with long term investors.

During his visit, Jaitley will also meet editors of Washington Post and the New York Times.

From US, Jaitley will leave for Moscow on April 24.