At the Milken Global Conference, amidst panels on private equity, geopolitics, and longevity science, Shamina Singh brought the conversation back to people. As Executive Vice President of Sustainability at Mastercard and President of the Mastercard Center for Inclusive Growth, Singh is on a mission to ensure that the global economy works for everyone—especially those too often left out of the equation.
“Inclusive growth is about making sure everyone benefits from a growing economy,” Singh told me. “That means people who are often underestimated or overlooked—whether they’re in rural Appalachia or underserved communities in Africa, Latin America, or Asia.”
This ethos is central to the work of the Center for Inclusive Growth, which Singh founded more than a decade ago. Originally focused on financial inclusion and helping individuals access the digital economy, the Center has evolved in line with the times. “Now we’re seeing a shift from a digital economy to a data-driven economy,” Singh explained. “But technology has been the through line. Our role is to ensure that tech and data are leveraged to benefit everyone, everywhere.”
Singh recently hosted the Global Inclusive Growth Summit in Washington, D.C., an event that Mastercard holds annually in conjunction with the World Bank Spring Meetings. “It’s a conversation among friends,” she said. “Private sector, public sector, social sector—all coming together not just to talk, but to act. The partnerships that come out of this are what make it special.”
Contrast that with the more finance-centric Milken conference, and you get a sense of the complementary worlds Singh inhabits: one foot in grassroots impact, the other in global capital. “What’s interesting is that both conferences are global in scope, and that creates real opportunities,” she noted. “We’re seeing dynamic growth, particularly in Asia. Over the last decade, a billion people have joined the digital economy. A billion more are expected to enter the middle class in the next.”
But the definition of “middle class” varies. “In the U.S., it might mean a two-car garage. In parts of Asia, the minimum wage is increasing from $4 to $12 a day. The transformation is still massive—it’s about purchasing power, opportunity, and dignity.”
Singh’s personal story reflects that arc. The daughter of Indian immigrants and the first in her family born in the U.S., she shared a deeply personal vision of the American Dream. “For my family, turning 18 didn’t mean a big party. It meant going to vote,” she said. “That was the moment my parents said, ‘You belong to this country.’ That’s when we became part of the democracy.”
Her childhood home in Chesapeake, Virginia, was dubbed “the global village”—not because of its size, but because of its spirit. “My father was a community college professor. My mother ran a small business. Our house was tiny, but it was full of conversations that reflected the world.”
For Singh, the American Dream isn’t static. “It’s not monolithic. It’s shaped by our stories, our communities, our relationships. Politics may divide, but our desire for community, for a better future for our children—that unites us.”
And it’s this philosophy—rooted in community, driven by data—that continues to shape Mastercard’s push for a more inclusive global economy.
“We all have something to bring and something to add,” Singh said. “That’s what true inclusive growth looks like.”
Watrch our full conversation below.
