Union Finance Minister Nirmala Sitharaman hosted the 2nd meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) in Washington D.C. U.S. The meeting is scheduled from 12th April to 13th April. The meeting has three sessions, to discuss the global economy and international financial architecture, sustainable finance, financial sector and financial inclusion, and international taxation. The meeting was chaired by Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das. During the meeting, the Finance Minister discussed issues and areas of mutual interest and cooperation under India’s G20 presidency with their respective counterparts from G20 countries and heads of other delegations including major international organizations. The meeting saw deliberations on key issues such as food and energy insecurity, managing global debt vulnerabilities, strengthening multilateral development banks (MDBs), mobilizing finance for climate action, advancing the financial inclusion process, and accelerating international tax and financial progress. Around 350 delegates from 13 invited countries and various international and regional organizations participated in the meeting apart from the G20 member states.
During the meeting, Finance Minister discussed issues of mutual interest and cooperation under India’s G20 Presidency with the heads of delegations. She also participated in a roundtable discussion on “Investing in India Decade” organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the US-India Strategic Partnership Forum (USISP) where she talked about the transformation of the Indian economy and the opportunities for companies in detail. She underlined the reality of global acceptance of ‘New India’ during the round table conference. She also discussed the global debt crisis and strengthening multilateral development banks, an Indian initiative under India’s G-20 presidency. The Finance Minister also highlighted that India is adopting technology and digitization tools at twice the rate of adoption by people around the world, making their lives effectively easier. Further, The Finance Minister also took part in the meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) Spring Meetings 2023 held in Washington.
Finance Minister Nirmala Sitharaman was received by Indian Ambassador to the US Taranjit Singh Sandhu on her arrival in Washington DC. Earlier, Nirmala Sitharaman reached JFK International Airport in New York. Where she was received by Consul General of India Randhir Jaiswal. The first meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) was held in Bengaluru. While the third G20 FMCBG meeting will be held in Gandhinagar.