India To Prioritise Diplomacy And Dialogue As G20 Finance Chiefs Meet On Day 1
The finance chiefs' meeting coincides with the first anniversary of the invasion of Ukraine, which is expected to be discussed.
India is looking forward to prioritising 'Democracy, Diplomacy, and Dialogue,' as the second round of the G20 Finance and Central Bank Deputies Meeting is held in Bengaluru. The first meeting was held in December 2022 in Bengaluru.
Information and Broadcasting Minister Anurag Thakur, who spoke to the media on Wednesday, said, "All I can reiterate is what the PM said that today's era is not an era of war but an era of peace..." Thakur continued when asked about the direction of conversations on the eve of the anniversary of the conflict across the Black Sea: "Democracy, diplomacy, and dialogue are the way forward. Those lines best explain India's position."
The G20 Finance and Central Bank Deputies Meeting is a one-day event preceding the Finance Ministers and Central Bank Governors Meet on Feb. 24 and 25, 2023, in Bengaluru. The meeting will be co-chaired by Secretary of the Department of Economic Affairs Ajay Seth and Dr. Michael D. Patra, Deputy Governor, RBI.
The date of the finance chiefs' meeting coincides with the first anniversary of the invasion of Ukraine on Feb. 24, which is also expected to feature prominently in the discussions.
Speaking to BQ at the inaugural press conference, Ajay Seth said that he expects the deliberations to include the supply chain constraints and the war in Ukraine, similar to the first Finance and Central Bank Deputies Meet in December.
The deputies' meeting will be dedicated to the finalisation of the communiqué that will be endorsed by the G20 Finance Ministers and Central Bank Governors during their meeting, according to a government release.
The communiqué will have the collective view of the G20 on the most pressing issues affecting the global economy.
Two delegates who attended the meeting of deputies and spoke on the condition of anonymity told BQ that the language of the communiqué was being discussed today.
India's G20 presidency takes place as the global economy is facing the lingering effects of the Covid-19 pandemic, food and energy insecurity, broad-based inflation, heightened debt vulnerabilities, worsening climate change, and geopolitical tensions.
In his inaugural address ahead of the day's deliberations, Thakur mentioned that while there are contentious issues, countries will need to balance their domestic aspirations.
"Through these constructive and productive discussions, we can collectively achieve optimal outcomes," he added.