According to a year-end evaluation published on Wednesday, the Department of Economic Affairs (DEA) of the Finance Ministry led effective efforts to improve India’s economic resilience and international integration in 2024. Notably, the revised Framework on Currency Swap Arrangements for SAARC Countries (2024–27) was agreed by the Union Cabinet, promoting regional integration and financial cooperation.

In order to encourage the internationalization of the Indian Rupee, this framework added an INR Swap Window valued at Rs 25,000 crore to the USD/Euro Swap Window.

These actions demonstrate India’s dedication to fostering closer relations with SAARC countries and ensuring regional financial stability.

While the India-Uzbekistan Bilateral Investment Treaty (BIT) focused on investor protection and dispute resolution procedures, the signing and implementation of the India-UAE BIT signaled a new chapter in promoting investor confidence and economic cooperation, further solidifying India’s international partnerships.

Deeper cooperation was also made possible by the establishment of the Joint Task Force on Investment between Qatar and India, and India’s initiative in stabilizing Sri Lanka’s economy demonstrated its leadership in tackling the region’s financial issues. These programs demonstrate India’s commitment to promoting sustainable development and international economic alliances.

To improve infrastructure and streamline investment procedures, the DEA implemented numerous Ease of Doing Business (EoDB) changes. By assessing and promoting infrastructure development across states and central ministries, the National Infrastructure Readiness Index (NIRI) was introduced, fostering cooperative and competitive federalism.

Concurrently, cross-border investments were made easier and procedures were streamlined by changes to foreign investment regulations, such as the Foreign Exchange Management Rules and the Overseas Direct Investment Regulation. Together, these programs improved India’s investment climate, allowing Indian businesses to expand internationally and increasing financial inclusion across the country.

Due to India’s tireless efforts as co-chair, the third IMF disbursement was approved, guaranteeing Sri Lanka’s return to a sustained economic recovery. By taking the initiative to help with debt resolution, India has demonstrated their continued commitment to the stabilization, recovery, and expansion of the Sri Lankan economy.

The National Infrastructure Readiness Index (NIRI), which was introduced in September 2024, aims to promote competitive and cooperative federalism. In order to improve their individual performance and further strengthen the climate for infrastructure development, this was done to promote competition among states/UTs and central infrastructure ministries/departments.

This paved the way for the development of infrastructure and the conditions that made it possible.