PM Narendra Modi addresses the first meeting of finance ministers and central bank governors under India's G20 presidency
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The Prime Minister, Shri Narendra Modi, addressed the first meeting of Finance Ministers and Central Bank Governors under India's G20 Presidency via a video message today.
Addressing the gathering, the Prime Minister underlined that this is the first Minister-level dialogue under India's G20 Presidency and conveyed his best wishes for a productive meeting. Taking note of the challenges faced by the world in the present day, the Prime Minister said that the participants of today’s meeting are representing the leadership of global finance and economy at a time when the world is facing serious economic difficulties. The Prime Minister gave examples of covid pandemic and its after-effects on the global economy, rising geo-political tensions, disruptions in global supply chains, rising prices, food and energy security, unsustainable debt levels affecting the viability of many countries, and the erosion of trust in international financial institutions due to their inability to reform quickly.
Shri Modi pointed out that it is now up to the custodians of the leading economies and monetary systems of the world to bring back stability, confidence and growth to the global economy.
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High level symposium on digital public infrastructure for innovative, resilient, inclusive growth and efficient governance ahead of 1st finance ministers and central bank governors meeting in Bengaluru
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On the side-lines of the 1st G20 Finance Ministers and Central Bank Governors Meeting under G20 India Presidency, a High-Level Symposium on Digital Public Infrastructure (DPI) was held on 23 February, in Bengaluru, India. The Symposium saw a panel discussion on DPI for Innovative, Resilient, Inclusive Growth and Efficient Governance with participation of Ms Nirmala Sitharaman, Minister of Finance and Corporate Affairs; Dr Mulyani Indrawati, Minister of Finance, Republic of Indonesia; Mr Roberto de Oliveira Campos Neto, Governor, Central Bank of Brazil; Ms Kristalina Georgieva, Managing Director, International Monetary Fund; and Mr Agustin Carstens, General Manager, Bank for International Settlements.
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First G20 Working Group meeting of culture held at Khajuraho, Madhya Pradesh
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The inaugural session of the first G20 Working Group (CWG) meeting of Culture was organised on 23 March at Maharaja Chhatrasal Convention Centre (MCCC), Khajuraho, Madhya Pradesh. Dr Virendra Kumar, Minister for Social Justice and Empowerment and Ms Meenakashi Lekhi, Union Minister of State for External Affairs & Culture addressed the session.
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Investing in Africa: the growth engine of the future
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Mr Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises Chair, Action Council on African Economic Integration: An Agenda for Global Business |
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The Action Council on African Economic Integration: An Agenda for Global Business is a newly introduced Council this year and it is my pleasure to serve as the chair. The Council has been introduced along the lines of India’s Presidency of the G20 this year, that aims to reinforce the priorities of the Global South, with a spotlight on Africa.
Current global economic trends have made it amply clear that there is a strong need to develop resilience in international trade patterns. A key component of this is the advancement of regions like Africa that present tremendous potential for global economic growth and for the harnessing of emerging markets.
The core purpose of putting together this Council is to bring a renewed global focus to the African continent. Africa as a region has made noteworthy strides of progress in recent years. The role played by several private and sovereign partners from across the world in this journey has been particularly noteworthy. On the other hand, vestigial gaps provide an opportunity for various players to address and work together to catalyze development for the African people through impactful economic integration.
I have been involved in B20 proceedings for several years now and hold high regard for the immense value it holds in bringing together stakeholders from across to world, to work towards common goals and priorities. The goal here is to leverage the experience of the global business community to make relevant and actionable recommendations to our world leaders. With a rapidly growing economy of over US$ 3tn, Africa offers opportunities across dimensions – our approach and purpose is hence, to make recommendations that go beyond aid support to also catalyze private sector investment and engagement in this region.
With a very productive inception meeting on 24th January and constructive suggestions received from several members and stakeholders, our Council has identified 5 priority areas that we are working to formulate recommendations on trade facilitation; reinvigoration of the agriculture sector; structural transformation through promotion of industrialization; acceleration of physical & digital connectivity and strengthening of human capital through health, education & skilling interventions.
Coupled with additional themes of youth and women empowerment, it is exciting to think of the collective impact and potential accomplishments across our priority areas. Over the coming months, I look forward to interacting further with stakeholders from across the globe to work towards pushing the agenda for African Economic Integration.
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B20 run for Culture#CIIRUN4CULTURE
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Showcasing the spirit of Jan Bhagidari or collective spirit, on the side-lines of the 1st CWG, CII organised a 1.5 km run in which 90 students (40 girls and 50 boys) participated. These students were from grades 6, 7 and 8 from Government Higher Secondary School, Khajuraho. The run commenced at 8 am on 22 February 2023. The route for the run was from Basti Square to Tourism Facility Centre, Khajuraho. Jan-Bhagidari is the key pillar of development and essential for economic and cultural rejuvenation. This run created a sense of belongingness among the students and sent out a message that through collective participation we can move towards achieving a common vision.
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The Confederation of Indian Industry (CII), Western Region (WR) organized the 8th Edition of the CII WR Green Conclave on 23 February 2023 in Mumbai. The theme of the conference was “Accelerating the Transition to Sustainability”. This was the first Conclave under the B20 series of events done by CII Western Region which embodied the theme of B20 India 2023, R.A.I.S.E. : Responsible, Accelerated, Innovative, Sustainable and Equitable Businesses
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“India has created a highly secure, highly trusted, and highly efficient public digital infrastructure in its digital payments ecosystem.”
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— Shri Narendra Modi, Prime Minister, India, at the 1st G20 Finance Ministers & Central Bank Governors, Bengaluru
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“The G20 can be an incubator of new ideas and a forum to listen to the voices of the ‘Global South’.”
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— Finance Minister Nirmala Sitharaman at the 1st G20 Finance Ministers & Central Bank Governors, Bengaluru
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“We must promote greater global economic cooperation and position the global economy on a trajectory of strong sustainable balanced and inclusive growth.”
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— Shaktikanta Das, RBI Governor at the 1st G20 Finance Ministers & Central Bank Governors, Bengaluru
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“Crypto-assets and digital currencies play an evolving role in developing countries especially in regards to digital payment systems and cross-border payments.”
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— David Malpass, President, World Bank, at the 1st G20 Finance Ministers & Central Bank Governors, Bengaluru
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“India’s pioneering digital public infrastructure has impressed the world and provides important lessons for other countries. ”
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— Kristalina Georgieva, MD, IMF at the 1st G20 Finance Ministers & Central Bank Governors, Bengaluru
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“Culture is the platform to forge bonds between our countries and communities for creating sustainable and inclusive development pathways.”
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— Dr Virendra Kumar, Minister for Social Justice and Empowerment, at the 1st G20 Finance Ministers & Central Bank Governors, Bengaluru
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Confederation of Indian Industry
The Mantosh Sondhi Centre,
23, Institutional Area, Lodi Road, New Delhi 110003, India
T: 91-11-45771000 / 24629994-7 • F: 91-11-24626149 • E: info@cii.in
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