REGIONAL OFFICE FOR ASIA AND THE PACIFIC (OAP)

India’s Financial System: Building the Foundation for Strong and Sustainable Growth

Three decades of India’s economic development since the economic liberalization in 1991 has highlighted the critical role of the financial sector in providing a foundation to sustain growth. The IMF Regional Office for Asia and the Pacific hosted a seminar on the IMF’s new book ‘India’s Financial System: Building the Foundation for Strong and Sustainable Growth’, with its editor Alfred Schipke, Director of the IMF-Singapore Regional Training Institute. Schipke discussed the ways to strengthen India’s financial system, with focus on its changing structure and macro-financial linkages. Toshiyuki Miyoshi, Vice Commissioner of International Affairs of Japan’s Financial Services Agency, and Keiichiro Nishio, Associate Professor of the Osaka Metropolitan University, joined the discussion, followed by a Q&A session. Read Facebook and X.

Agenda:

Speakers:

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  Alfred Schipke is Director of the IMF-Singapore Regional Training Institute. Prior to that, he was Assistant Director in the IMF Asia and Pacific Department and Mission Chief to India. From 2013-2020 he was the IMF Senior Resident Representative for China. He was also division chief in the IMF Asia and Pacific Department coordinating the work on fast-growing low-income countries in Southeast Asia and Mission Chief for Vietnam. Before that, he was in charge of the Latin Caribbean and Eastern Caribbean Currency Union divisions in the in the IMF’s Western Hemisphere Department. He has taught international finance at Harvard Kennedy School and the National School of Development at Peking University and has authored and edited several books and articles.

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  Toshiyuki Miyoshi is Vice Commissioner for International Affairs of Japan’s Financial Services Agency (FSA). He currently heads the FSA’s international affairs group and represents the FSA at working-level meetings of the G20 and G7. He is also the FSA’s alternate member of the Standing Committee on Supervisory and Regulatory Cooperation of the Financial Stability Board (FSB). Prior to that, he was Deputy Director-General of the Supervision Bureau and Deputy Commissioner for International Affairs. Before moving to the FSA, he was division director at Japan’s Ministry of Finance (MOF). His responsibility at the MOF included the development of the G20 Principles for Quality Infrastructure Investment and the debt sustainability agenda under Japan's G20 Presidency in 2019, organization of the MOF's work on G20, G7 and IMF issues, and government debt management. Mr. Miyoshi got Bachelor’s degree in public law at the University of Tokyo and Master of Philosophy in Politics at the University of Oxford.

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  Keiichiro Nishio is Associate Professor in the Graduate School of Business at Osaka Metropolitan University. Prior to that, he was Lecturer and Associate Professor at Aichi University of Education from 2015-2023, and Associate Professor at Matsuyama University from 2009-2015. His main research interest is the Asian financial system, and in recent years he has been engaged in research on the Indian financial system. He has also been interested in the study of international monetary systems in the Asian region since his studies at the Graduate School of Business Administration, Osaka City University. He is also Executive Director in the Society for the Economic Studies of Securities and Japan Society for the Study of Credit Theory.