Agri Minister Tomar Inaugurates G-20 International Financial Architecture Working Group Meet

Narendra Singh Tomar, Union Minister of Agriculture and Farmers Welfare, and Pashupati Kumar Paras, the Minister of Food Processing Industries, opened the two-day meeting of first International Financial Architecture Working Group of G-20 on Monday in Chandigarh.

On the occasion, Tomar said that India is developing rapidly with science and innovation, both of which are deeply connected with the future of India. We have leveraged technology to create the digital public infrastructure.

We have been a significant contributor to financial inclusion in global healthcare and the move to sustainable energy while people-centric development is the basis of our national strategy. This is the same philosophy that the theme of our G-20 Presidency, - 'One Earth, One Family, One Future', he also underlines.

The minister said India's G-20 presidency is a proud moment for all of its inhabitants, and we are also mindful of the obligations that come with this momentous occasion. The globe is currently dealing with a number of intricate problems that are intricately linked and not solely bounded by geographical boundaries. The world community now has to push more toward globally coordinated policies and actions since the challenges being addressed are global in nature and call for global answers.

There is also a need for multilateralism to be given new life. Our country, which completely supports democracy and multilateralism, is prepared to exhibit not only multifaceted progress but also widely acknowledged might, he stated.

He said it is not a surprise that India was praised by all for its dedication to the post-Covid growth path and description as a beacon in a volatile world at the recent World Economic Forum gathering.

In the meeting, Union Minister Paras stated that India is making an effort to promote productive dialogue, create, share knowledge, and share the common desire for a safe, peaceful, and prosperous world. We must cooperate to move in the desired direction. According to him, it is our duty to drive development, make sure that the current system of international finance is ready to handle urgent difficulties, and give the most help possible to vulnerable populations during India's G-20 leadership.

In his speech to the World Economic Forum's Davos Summit, Prime Minister Shri Modi discussed whether multilateral organisations are prepared to handle the challenges of the emerging global order, he added.

IFA co-chairs William Roos (France) and Byungsik Jung (South Korea) were in attendance at the meeting. Other dignitaries included RBI Advisor Mahua Rai and Additional Secretary of the Union Ministry of Finance, Manisha Sinha.