{"id":100873,"date":"2023-04-14T10:26:00","date_gmt":"2023-04-14T04:56:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=100873"},"modified":"2023-04-14T10:23:55","modified_gmt":"2023-04-14T04:53:55","slug":"us-sitharaman-g20-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/us-sitharaman-g20-2\/","title":{"rendered":"Many Indian proposals well supported by G20 countries: FM Sitharaman"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-727522861\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Many of India\u2019s proposals have been well supported by the G20 bloc and there has been an active engagement, Union Finance Minister Nirmala Sitharaman said after a series of meetings with her counterparts from the influential grouping here.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-869600323\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>India assumed the year-long presidency of the G20 in December last year and aims to host a leaders\u2019 summit in New Delhi in early September. The G20 is an important forum of the world\u2019s 20 major developed and developing economies.<\/p><p>Sitharaman met her counterparts from the G20 nations on the sidelines of the annual spring meetings of the International Monetary Fund and the World Bank in Washington on Thursday.<\/p><p>\u201cWe were very happy to see that most of India&#8217;s proposals have been well supported and there has been an active engagement,\u201d she said.<\/p><div class=\"trade-content_5\" id=\"trade-2054107885\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The minister said discussions at the second meeting of G20 finance ministers and central bank governors under India\u2019s presidency spread over three sessions &#8211; the global economy, international financial architecture, sustainable finance, financial sector, financial inclusion, and international taxation.<\/p><p>She said the discussions were very intense with a lot of substantive inputs coming from the members.<\/p><p>The meetings saw the participation of around 350 delegates with 13 invitee countries and various international and regional organisations, she said.<\/p><p>Sitharaman said there were six takeaways from the G20 meetings.<\/p><p>First, successful discussion on the debt restructuring and debt vulnerabilities with the hosting of the Global Sovereign Debt Roundtable, she said.<\/p><p>Second is the issue of reforming multilateral development banks, an Indian initiative, which has been very well received, she said.<\/p><div class=\"trade-content-10\" id=\"trade-2492587806\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The acceptance of an expert group where we have two co-conveners, strengthening the multilateral development bank&#8217;s issue has received a lot of warmth, she said.<\/p><p>\u201cThis expert group is going about its work and hopefully by July, we should have something on the table for the members to discuss it,\u201d Sitharaman said.<\/p><p>The third is climate finance and sustainable financing of climate and climate-related matters, she added.<\/p><p>&#8220;Bringing in private finance and ensuring Sustainable Development Goals are also met up. This discussion on climate finance is also moving in a very positive direction.<\/p><p>Not just the current flow, but also the quantum that is required for meeting current climate challenges and also looking at transitional costs, the technology that is so required,\u201d she said.<\/p><p>The fourth takeaway was the global partnership for financial inclusion where digital public infrastructure has found a lot of traction.<\/p><p>&#8220;We&#8217;ve had discussions in Bengaluru, we are having discussions here as well. Leveraging DPI, which is the digital public infrastructure for achieving global financial inclusion, is a subject which every country has taken a keen interest in and people are looking at how best they can catch up with bringing inclusion through the use of technology,\u201d she said.<\/p><p>Sitharaman said she was very grateful to Singapore for having reconnected the fact that both countries are now in agreement with the cross-border payments.<\/p><p>She said cross-border payement per se has the strength of being one of the very important instruments which can find a good buy-in from all the countries.<\/p><p>\u201cThe fifth one I would put as of today a possible takeaway is the international taxation issue, which was earlier discussed so that we achieve a fair sustainable and modern international tax system that was also discussed among members today,&#8221; the minister said.<\/p><p>&#8220;The two-pillar international tax package which was agreed upon in October 2021, swift implementation has been called for by all members. The progress that we&#8217;re making in this area is also to bring in greater transparency in trial international tax reforms,\u201d she said.<\/p><p>The last and sixth one is the general consensus on regulations related to crypto assets, Sitharaman said.<\/p><p>\u201cThe discussion on crypto also highlighted the fact that it&#8217;s not going to be confined to one part of the world. Its implications can affect emerging market economies as well.<\/p><p>&#8220;So even as we&#8217;re talking about crypto, the impact that it can have on developed economies and the impact it can have on emerging markets. developing economies have also been taken on board,\u201d Sitharaman said. PTI &nbsp;LKJ MRJ<\/p><div class=\"trade-after-content\" id=\"trade-1577486242\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Many of India\u2019s proposals have been well supported by the G20 bloc and there has been an active engagement, Union Finance Minister Nirmala Sitharaman said after a series of meetings with her counterparts from the influential grouping here. India assumed the year-long presidency of the G20 in December last year and aims to host a [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":83038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-100873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Many Indian proposals well supported by G20 countries: FM Sitharaman - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Many of India\u2019s proposals have been well supported by the G20 bloc and there has been an active engagement, Union Finance Minister Nirmala Sitharaman said after a series of meetings with her counterparts from the influential grouping here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/us-sitharaman-g20-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Many Indian proposals well supported by G20 countries: FM Sitharaman\" \/>\n<meta property=\"og:description\" content=\"Many of India\u2019s proposals have been well supported by the G20 bloc and there has been an active engagement, Union Finance Minister Nirmala Sitharaman said after a series of meetings with her counterparts from the influential grouping here.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/us-sitharaman-g20-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-14T04:56:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/nirmala-cover-image-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/nirmala-cover-image-2.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/us-sitharaman-g20-2\/\",\"url\":\"https:\/\/tradebrains.in\/features\/us-sitharaman-g20-2\/\",\"name\":\"Many Indian proposals well supported by G20 countries: FM Sitharaman - 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