G-20 News

G20 Agenda Highlights India Nirmala Sitharaman Crypto Regulation Climate Finance

New Delhi: Finance Minister Nirmala Sitharaman said on Tuesday that climate finance, energy transition financing, urban infrastructure development and crypto asset regulation would be some of the main items on the agenda. India as Chairman of the G20.

India will assume the presidency of the G20 on December 1, which will continue until November 20, 2023.

Addressing the ICRIER 14th Annual G20 Conference, the Finance Minister said India will try to be the voice of low-income countries in the G20 group.

Sitharaman further said that global spillovers and global taxation are also priority areas and that India will strive to build consensus on this among member countries.

She said over-indebtedness will be an issue that India would like to discuss during its presidential tenure.

Multilateral institutions, especially funding, will be the main issues for attention as these institutions are apparently not leveraging their endowments properly, the minister said.

Meanwhile, the Reserve Bank of India (RBI) launched a pilot for its central bank digital currency (CBDC) on November 1. Dubbed Digital Rupee, or e₹, India’s CBDC is deployed in two forms, specially designed for two different uses. case: e₹-W (wholesale segment) and e₹-R (retail segment).

With the move, India will join a long list of countries – including neighboring Pakistan and China – in mining the crypto sector with a central bank-issued digital coin.

(With contributions from IANS)

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