The first International Financial Structure Working Group meeting under the G-20 Indian Presidency was inaugurated in Chandigarh today by Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar and Food Processing Industries Minister Pashupati Kumar Paras. On this occasion, the Union Agriculture Minister said, India is developing rapidly due to science and innovation, as both are closely related to the future of India.
The theme of India's G-20 chairmanship, "Vasudhaiva Kutumbakam" or 'One
Earth, One Family, One Future', underlines the message of equitable
development and a shared future for all. India's endeavour will be to
facilitate constructive dialogue, share knowledge and work together
towards the collective aspiration for a secure, peaceful and prosperous
world.
Agriculture Minister Narendra Singh Tomar said, it is a proud moment for
all the citizens of India to host the G-20, while at the same time, we
are well aware of the responsibilities that come with this historic
occasion. He noted that the challenges being faced are global in nature
and require global solutions, therefore the world community today needs
to lay greater emphasis on globally coordinated policies and actions.
The Minister mentioned that at the recently held World Economic Forum,
India was applauded for its commitment to climate goals and return to
the post-COVID growth path. The Agriculture Minister said, through the
inclusive, ambitious, action-oriented and decisive agenda of the G-20,
we aim to reveal the true spirit of 'Vasudhaiva Kutumbakam'.
Noting the Group's exemplary contribution in recent years in providing
assistance to the most vulnerable and low-income developing countries,
Mr. Tomar said, the measures taken to address rising credit insecurity
are particularly noteworthy. The growing momentum of these efforts will
continue with India's presidency in 2023, he added. At the same time,
the group will take advantage of its good position to consider how we
can redesign global and financial governance, said the Minister.
Under the Chairmanship of India, the group will seek to explore how multilateral development banks, the principal agents of development, can be better equipped to meet the global challenges of the
21st century. Remembering the Father of the Nation, Mahatma Gandhi,
the Agriculture Minister gave a quote on this occasion and welcomed the
delegates on behalf of Prime Minister Narendra Modi and all the
citizens and wished success to the meeting.
Speaking on the occasion, Union Minister Pashupati Kumar Paras said that
India's endeavour would be to facilitate constructive dialogue, share
knowledge and work together towards the collective aspiration for a
secure, peaceful and prosperous world. He said, the Indian Presidency of
the G-20 has the responsibility to build on the progress made so far
and ensure that the international financial architecture remains
well-equipped to meet the acute challenges it faces today and provide
maximum support to vulnerable groups.
With the rich and diverse experience of eminent experts from around the
world, this International Financial Structure Working Group will work
together in the areas of development financing, supporting vulnerable
countries, maintaining financial stability and upholding the theme of
'One Earth, One Family, One Future'. G-20 is in a better position to
coordinate its efforts.
IFA Co-Chair William Roos (France),
Byungsik Jung (South Korea), Manisha Sinha, Additional Secretary, Union
Finance Ministry, RBI Advisor Mahua Rai were also present at the
meeting.
SOURCE ; AIR
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