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Agriculture Minister Narendra Singh Tomar has appealed to G20 countries to put greater emphasis on coordinated policies and actions to deal with complex, interlinked challenges.
Inaugurating the two-day G20 International Financial Architecture (IFA) working group meeting in Chandigarh on Monday, Tomar said it was a proud moment for the citizens of the country that India is chairing the G20 meeting in 2023. India assumed the G20 presidency for one year on December 1, 2022.
“The world today is faced with a number of complex challenges, which are deeply interlinked and are not defined by borders alone. 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,” said Tomar. There was also a need for a renewed trust in multilateralism, he added.
Also read: IMF maintains India’s growth projection at 6.1% for FY24
The minister highlighted that India was described as “a bright spot” in a fragile world at the recently held World Economic Forum meeting and assured of meeting the commitment to climate goals, according to an official statement.
Tomar also told the Working Group that India is ready to share the template of its “successful growth model”, and at the same time is open to learning from others.
“Through our priorities and outcomes this year, we want to seek practical global solutions through dialogue and discussion. In doing so, we will also take a keen interest in raising voices of developing countries,” he said.
Participants at the meet are expected to discuss ways to enhance the stability and cohesion of the global financial architecture and how to make it fit to address global challenges in the 21st century. Besides, it will explore ways to provide maximum support to poor and vulnerable countries.
The meeting was attended by IFA co-chairs William Roos of France, Byungsik Jung of South Korea and officials from Centre as well as Reserve Bank of India.
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