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In Tbilisi, Georgia, at the 57th Annual Meeting of the Asian Development Bank (ADB), India emphasized the importance of focusing on poverty reduction alongside sustainable growth. India's Vikas Sheel, speaking on behalf of Finance Minister Nirmala Sitharaman, urged ADB not to overlook its mandate on growth and shared prosperity. Despite Sitharaman's absence due to India's ongoing elections, India affirmed its support for inclusive and sustainable growth in Asia and the Pacific.

Aim to combat climate change, poverty, gender gaps in member countries

The Asian Development Bank (ADB) has said that developing nations in Asia-Pacific are inadequately prepared to secure the welfare of their ageing populations.

ADB: Last month, the government notified amendments to the foreign direct investment policy in the space sector to attract offshore investors in satellite manufacturing and satellite launch vehicles segments.

ADB has done some projects in satellite in the Asia Pacific region, but has not provided any assistance in the Indian space sector.