BENGALURU: Ahead of meetings in Bengaluru, Union Finance Minister Nirmala Sithraman on Friday held a series of discussions with finance ministers of G20 nations and discussed global economic issues among other matters.
At a meeting with Paolo Gentiloni, Commissioner of the European Union, the two exchanged their views on global food and fertiliser insecurity. Gentiloni also extended all support in strengthening ties and on the priorities of the global debt vulnerabilities. Sitharaman is holding the meetings as a part of the G20 first Finance Ministers and Central Bank Government (FMCBG) and second finance and central bank deputies (FCBD) meeting being held in the city till February 25.
The finance minister had also held a meeting with Agustin Carstens, General Manager, Bank of International Settlements, as part of the meeting where they discussed on providing support in areas of technological innovation and payments. As a part of the meetings with delegates, Sitharaman also met Canadian Deputy Minister and Minister of Finance Chrystia Freeland wherein they discussed reforms in climate finance and stated that pension funds in Canada were aware of the safety and opportunities of investing in India with a large population, economy size and democratic structure. Freeland also spoke of approaching the National Investment and Infrastructure Fund. She also assured of supporting India during the presidency.
Sitharaman also held meetings with Argentinian Minister of Economy Sergio Massa wherein they discussed issues of currency swapping and developing a software for digital payment with guidance from the National Payments Corporation of India. She held a meeting with Spain’s Vice President and Minister of Economic Affairs and Digital Transformation Nadia Calvino Santamaria and exchanged views on the need for collaboration in agri-food innovation in light of the impact of global disruptions on food security. Sitharaman also highlighted India’s success in climate-friendly nano fertilisers and stressed on India’s priority including global coordination on Crypto Assets.
During the interaction with financial heads of other countries, she also highlighted on India’s progress in the Hydrogen Mission, expansion of the international solar alliance and enhanced grid connectivity across south and southeast Asia. The Union minister also held meetings with Italian Finance Minister, Indonesian Finance Minister Dr Mulyani Indrawati and other leaders participating in the G20 summit, including Jeremy Hunt, Chancellor of Exchequer, United Kingdom. Sithraman and Jeremy discussed about the upcoming 12th India-UK Economic and Financial Dialogue in 2023. The two leaders also discussed global debt vulnerabilities and ongoing geopolitical tensions.