Between December 13 and 15 Bengaluru will host the first gathering under India's G20 Presidency
He stated, "We are grateful to Bengaluru and the State of Karnataka for hosting this extremely important gathering.
The G20 Finance Track's inaugural meeting will be held in Bengaluru while India holds the G20 Presidency. Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, said that the first G20 Finance and Central Bank Deputies Meeting will take place in Bengaluru on December 13–15, 2022. This is a very exciting time, according to Seth. The G20 Finance Track's inaugural gathering will take place in Bengaluru while India holds the G20 Presidency. Starting the Finance Track meetings in one of India's most prestigious metropolises known for its high-tech sector.
"The G20 offers a very useful forum for debates about international cooperation in policy and the state of the world economy. We have invited a number of other nations and international organisations in addition to the G20 members "said he.
The opportunity to lead this significant global economic alliance for a whole year, according to Secretary, comes at a time when India's economy is the largest and is expanding the fastest. The benefits of development must now be inclusive and universal, according to Seth, who noted that the Prime Minister made this point in his speech to the G20 summit in Bali. The Ministry of Finance has incorporated this idea into the agenda for the G20 Finance Track.
Under India's G20 Presidency, Finance Minister Nirmala Sitharaman and Governor of the RBI Shaktikanta Das will be in charge of the Finance Track.
The G20 Finance Ministers and Central Bank Governors Meeting is scheduled to take place in Bengaluru in February once the conversations among Finance Deputies are launched, according to Seth.
According to the secretary, we will have in-depth conversations about a broad variety of current and prospective challenges. These include global macroeconomic difficulties, the improvement of the international financial architecture, and problems relating to the financial sector, such as international taxes, financial inclusion, and financing for infrastructure, health care, and infrastructure.
According to the secretary, India has developed very inclusive, people-centric, and action-oriented priorities under the theme of One Earth, One Family, One Future. When the Prime Minister hosts the G20 Summit next year, the Ministry of Finance will have carefully crafted a robust agenda that will ultimately inform the G20 Leaders Declaration.
Seth stated that we are optimistic that the outcomes of the G20 Finance Track, under the leadership of the Finance Minister and the Governor, RBI, would support sustainable and inclusive growth for all and increase the resilience of the global economy.
We also expect that the G20 Finance agenda this year will strengthen our collective readiness for upcoming requirements and difficulties, particularly for fragile and developing economies.
We will strive to significantly contribute to the conversation about the state of the world's economy through roughly 40 meetings spread out across the nation, encompassing several working groups and 4 ministerial level meetings.
These sessions, according to Seth, will also provide our guests a chance to see India's economic achievements. Of course, visitors will also get a taste of India's diverse and rich culture.
He stated, "We are grateful to Bengaluru and the State of Karnataka for hosting this extremely important gathering.
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