G-20 News

At G20 FMCBG meeting in the US, FM Sitharaman calls for proactive group actions to preserve economies

Finance Minister Nirmala Sitharaman attended the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting held here, saying that sustained inflation, supply chain disruptions, Energy market volatility and investor uncertainty have led to weakening global growth momentum. The meeting was held here on Wednesday under the chairmanship of the Indonesian president. Topics included global economic prospects and risks, international financial structures, and global health. “FM Smt. @nsitharaman noted that global growth momentum is weakening due to persistent inflation and supply chain disruptions.

Sitharaman also met John Neuffer, President and CEO of the Semiconductor Industry Association, on the sidelines of the IMF and World Bank 2022 Spring Meetings. The Minister of Finance briefed Neuffer on the initiatives and policies put in place by the government to attract and support foreign investment in semiconductors. industry, including the development of a sustainable semiconductor and display ecosystem with an expenditure of $10 billion in India.

Energy market volatility and investor uncertainty,” the Treasury Department tweeted. “Treasury Secretary Smt called for the effort. Sitharaman arrived in Washington on Monday for the IMF and World Bank’s 2022 spring meetings. The Minister of Finance met here on Tuesday Kristalina Georgieva, President of the International Monetary Fund. On Wednesday, she met with US Commerce Secretary Gina Raimond to discuss ways to strengthen economic cooperation in bilateral and global contexts.

“Mr. John Neuffer stressed to FM [email protected] that he is optimistic about the initiatives taken by the Government of India to promote investment in the semiconductor ecosystem and appreciated India’s commitment to become a reliable player in the global supply chain,” the ministry said in another tweet. Earlier Monday, in her first public appearance before the Atlantic Council think tank, the finance minister told a select group of Washington audiences.

The people, as well as the Government of India, have successfully met the challenge posed by COVID-19 and the ensuing lockdowns. Describing India’s economic recovery from the COVID-19 pandemic as “distinct” and “pronounced”, Sitharaman expressed confidence that India is showing robust economic growth this decade.

Summary of news:

  • At G20 FMCBG meeting in the US, FM Sitharaman calls for proactive group actions to preserve economies
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