First G-20 Finance Ministers and Central Bank Governors meeting begins in Bengaluru; PM calls upon world to draw inspiration from vibrancy of Indian economy
Bengaluru, February 24
First G20 Finance Ministers and Central Bank Governors meeting began in Bengaluru on Friday with opening remarks of Prime Minister Narendra Modi. In his recorded message, Prime Minister called upon the custodians of the leading economy and monetary system of the world to bring back stability, confidence and growth to the global economy.Mr Modi invited the world to draw inspiration from the vibrancy of the Indian economy, Indian consumers and producers who are optimistic and confident about the future.
Prime Minister hoped that the others in the world affected by global supply chain, rising prices, food and energy security challenges will be able to transmit the same positive spirit to the global economy as in India. He urged upon the G20 forum participants to focus on the most vulnerable citizens of the world.
Mr Modi said only an inclusive agenda with the global economic leadership will impact the confidence of the world. He stressed that the theme of G20 India Presidency also promotes this inclusive vision of One Earth, One Family and One Future. Emphasising on the importance of technology and innovation in finding viable solutions to the problems, the Prime Minister said that India’s own experience can be rewarding for others. He said that India has developed contactless, seamless, highly secure, highly trusted and highly efficient public digital infrastructure.
Mr Modi said UPI developed in India has brought in radical transformation in governance, promoted financial inclusion and ease of living in India. He called upon the delegates and tourists to use the UPI platform to have first hand experience of our digital platform. He said that India will be very happy to share its experience in this area.
In her address, Finance Minister Nirmala Sitharaman underscored the need to focus and explore holistic solutions to the most pressing challenges. She felt that G20 can transform life around the globe by leveraging the complementary strength of its members. She said that G20 can be a global prime mover and incubator of new ideas, a force for collective good and a forum to listen to the wisest of the global south. She pointed out that the concerns and aspirations of the developing world must be central to the efforts in resolving global issues.
500 delegates from G20 member countries, invitees and representatives of international organisations are participating in the two-day meet. The discussions in this meet are intended to provide a clear mandate for the various work streams of the G20 Finance Track.