Finance Minister addresses G20 webinar, highlights key themes of New Delhi Leaders’ Declaration for global economic recovery.
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, delivered the inaugural address at the G20 webinar on ‘Strong, Sustainable, Balanced and Inclusive Growth’ held in New Delhi today. The seminar, organized by the Ministry of Finance in collaboration with the Ministry of Commerce and Industry, and the Ministry of Labour and Employment, emphasized the importance of inclusive growth for global economic stability.
The G20 Leaders adopted the G20 New Delhi Leaders’ Declaration (NDLD) during the G20 Summit in September, with a focus on achieving Strong, Sustainable, Balanced and Inclusive Growth (SSBIG). In her address, Smt. Sitharaman stressed that the NDLD addresses pressing global economic challenges and provides policy guidance based on people-centric principles and trust-based partnerships.
The Union Finance Minister highlighted the NDLD’s recognition of the significance of well-integrated and adequately skilled workers for both origin and destination countries. The declaration also emphasizes the need to address skill gaps globally, offering comprehensive policy guidance in this regard.
Furthermore, Smt. Sitharaman pointed out that the G20 policy priorities for addressing skill gaps include facilitating cross-country comparability, mutual recognition of skills, and providing toolkits for upskilling and reskilling. She also highlighted the endorsement of G20 Policy Recommendations for Advancing Financial Inclusion through Digital Public Infrastructure (DPI) within the NDLD, emphasizing its importance for inclusive growth.
With India’s role as the co-chair of the Global Partnership for Financial Inclusion, Smt. Sitharaman emphasized the country’s commitment to building on the foundational work done during its Presidency year.
The seminar engaged in panel discussions on three critical themes: ‘Unlocking Trade for Growth’, ‘Preparing for the Future of Work’, and ‘Financial Inclusion and Productivity Gains through Digital Public Infrastructure for Strong and Sustainable Growth: The Way Forward’. These discussions serve as key components in the pursuit of global economic recovery and inclusive growth.
In the ‘Unlocking Trade for Growth’ panel, discussions centered around the ‘Jaipur Call for Action’, aimed at enhancing access to information for MSMEs. The panel highlighted the potential impact of successful implementation on the participation of Indian MSMEs in global trade.
The panel discussions were moderated by esteemed figures in relevant fields, fostering valuable insights and strategies to address global economic challenges.
