In a significant diplomatic and bureaucratic appointment, the Appointments Committee of the Cabinet (ACC) has named Shri L. Satya Srinivas (IRS-C&IT:1991) as India’s new Executive Director at the Asian Development Bank (ADB). Shri Srinivas, currently serving as Special Secretary in the Department of Commerce, brings a wealth of experience in international trade and economic policy to this pivotal role.
His tenure is set to commence immediately and will continue until his superannuation on February 28, 2026. Following this, he will serve on a contractual basis for a total period of three years or until further orders, governed by the standard terms and conditions for re-employed central government officers.
A distinguished 1991-batch officer of the Indian Revenue Service (IRS), Shri Srinivas has held several key positions within the Ministry of Commerce and Industry. His extensive portfolio includes significant contributions to trade negotiations, export promotion strategies, and critical infrastructure development initiatives.
India and ADB Strengthen Partnership with $126 Million Loan for Uttarakhand Tourism
Coinciding with this strategic appointment, India has further solidified its collaboration with the ADB by signing a $126.42 million loan agreement. This funding is designated for a transformative project to develop the Tehri Lake region in Uttarakhand into a sustainable, world-class tourism destination.
The initiative is designed to:
Spur tourism-driven economic growth in the region.
Benefit over 87,000 local residents through improved opportunities and infrastructure.
Enhance the experience for the area’s 2.7 million annual visitors.
Strengthen climate and disaster resilience by constructing future-proof infrastructure.
Integrate comprehensive waste management systems and community involvement programs.
ADB officials emphasized that the project will position Uttarakhand as a premier all-weather tourism hub, with a specific focus on creating opportunities for women and youth and fostering private-sector investment in the region’s development.
A Strategic Move to Deepen India-ADB Development Cooperation
The appointment of Shri Srinivas comes at a crucial juncture, reflecting India’s intent to deepen its strategic engagement with the multilateral bank. He succeeds Shri Vikas Sheel (IAS:1994:CG), who is anticipated to return to India to assume the role of Chief Secretary of Chhattisgarh.
India’s expanding portfolio of projects with the ADB—spanning infrastructure, urban development, and sustainable tourism—highlights the importance of placing seasoned and strategically-minded bureaucrats in key international positions to advance the nation’s developmental interests.
