Emerging Economies Face Growth-Climate Security Dilemma: Nirmala Sitharaman
Earlier this month, Sitharaman urged ABD President Asakawa to support India with more concessional climate financing.
Union Finance Minister Nirmala Sitharaman emphasised on sustainable growth and the environment and the need for balancing the two, while speaking at a G7 seminar in Niigata, Japan.
Sitharaman is on a two-day visit as an invitee to the G7 Finance Ministers and Central Bank Governors Meeting at the G7 Hiroshima Summit.
The Finance Minister underscored the dilemma faced by emerging markets and developing economies between climate security and growth, as they manage overlapping crises and socioeconomic transformation, according to Twitter posts from the Finance Ministry.
Earlier this month, Sitharaman urged Asian Development Bank President Masatsugu Asakawa to support India with more concessional climate financing, during her visit to Incheon for the 56th annual meeting of the Asian Development Bank.
India's economic progress can have a positive impact regionally and globally, she said. The Finance Minister pushed for the multilateral funding agency to further assess and support developing member countries, during a bilateral meeting.
India's focus on technology, digital public infrastructure and green hydrogen is the foundation for sustainable and inclusive growth and can serve as examples of innovative policy toolkits employed by emerging markets and developing economies, Sitharaman said during the meeting, tweets from the Ministry showed.
On Thursday, the Finance Minister interacted with a group of investors and business leaders on the theme of 'Rising Investment Opportunities: Destination India'.
She had invited Japanese investors and business leaders to explore investment opportunities in India, and said that the country is easing restrictions and ensuring overall ease-of-doing-business.
On the sidelines of the event on Friday, Sitharaman met with the International Monetary Fund's Managing Director Kristalina Georgieva and Deputy Managing Director Gita Gopinath.
Sitharaman also interacted with Lawrence Wong, Deputy Prime Minister and Finance Minister of Singapore, and Brazilian Finance Minister Fernando Haddad in Niigata.