Meeting of G-20 International Financial Architecture Working Group inaugurated

New Delhi, Jan 30: The two-day meeting of the first International Financial Architecture Working Group of G-20, being held under the chairmanship of India, was inaugurated on Monday by Union Minister of Agriculture and Farmers Welfare, Narendra Singh Tomar, and Minister for Food Processing Industries, Pashupati Kumar Paras.

Speaking on the occasion, Tomar said that India is developing rapidly with science and innovation, and both these fields are deeply connected with the future of India.

“We have leveraged technology to create digital public infrastructure. We have been a significant contributor to financial inclusion in global healthcare and the move to sustainable energy while people-centric development is the basis of our national strategy. This is the same philosophy that the theme of our G-20 Presidency – ‘One Earth, One Family, One Future’ – also underlines,” Tomar said.

The Agriculture Minister also said that India’s chairmanship of G-20 is a proud moment for all the citizens.

“We are well aware of the responsibilities that come with this historic occasion. Today, the world is facing many complex challenges, which are deeply interlinked and are not defined by boundaries alone. The challenges being faced are global in nature and require global solutions, therefore the world community today needs to push more towards globally coordinated policies and actions. There is also a need for a renewed faith in multilateralism,” he said.

Tomar also said that India is ready to fulfil the responsibility given to it.

“We will be happy to share the template of our development model, and we also we look forward to learning from all. Through our priorities and outcomes this year, and through deliberations, we aim to find practical global solutions. In doing so, we also take a keen interest in amplifying the voice of the developing countries. We cannot leave anyone behind now. Through our inclusive, ambitious, action-oriented and decisive agenda for the G-20, we aim to express the true spirit of our goal – ‘Vasudhaiva Kutumbakam’ (The World is one Family),” he added.

The meeting was attended by IFA co-chairs William Roos (France); Byungsik Jung (South Korea); Manisha Sinha, Additional Secretary, Ministry of Finance; and Mahua Rai, Advisor to RBI, among others.