Regional cooperation among Asian countries answer to tariff war : ADB chief

Asian Development Bank (ADB) President Masato Kanda reportedly said that for long term growth and stability of the Indian economy it needs to emphasize income distribution of the people, economic
reforms and take steps to increase competitiveness to foster sector investments. He said this to national media of India in Milan where the annual meeting of the ADB was held. The purpose of the
income distribution has been to increase the income of low income people in a bigger way. This would boost domestic demand. Kanda also suggested for better education of the Indian mass.
Kanda emphasized the sound economic policies to safeguard stability and sustain investment flows. He thought that for India, private sector development was a key that can lead to creation of jobs and
drive cutting-edge innovation.

While reporters asked him about impact of ongoing tariff war on the Asian economy, Kanda reportedly said that it was difficult to assess it as the situation had been changing rapidly. But according to
him this was the time that Asian economies can have the opportunity to open up and make their countries more resilient and interconnected within the region. But one should remember that ADB had slashed
India’s economic growth forecast for FY 26 to 6.7% from 7% earlier. At the same time ADB projected regional growth at 4.9% in 2025 and 4.7% in 2026.

Kanda also advised not to be complacent about the economies of the region. He said this because the Asian countries were in better place since the Asian financial crisis. Kanda had also been reported to
have said about the Asian economies, “They should reform to become more diversified, deepen their capital and financial markets.”

He avoided any political quarries on India-Pakistan tensions. Only he said that peace and political stability were the basis for inclusive and sustainable growth and developme