Page 4 - B20 Summit News Today

"It is important for the world to get away from protectionism because free trade has lifted people above the poverty line," Kant said at the B20 Summit today

India is well positioned to lead the global transitions in digital and artificial intelligence, energy, and global value chains, according to N Chandrasekaran, B20 India Chair and Chairman of Tata Sons. Chandrasekaran emphasized Indias potential for inclusive global development and highlighted its success in digital infrastructure and public service delivery. He also mentioned Indias ability to lead the energy transition and the creation of an alternative supply chain.

A task force in India has recommended that micro, small, and medium enterprises (MSMEs) be given access to sustainable finance to support their digital transformation. The task force also suggested harmonising cybersecurity frameworks across G20 countries to promote digital trust. Additionally, they recommended developing a global minimum standard for digital literacy to drive inclusivity and allow for international skills portability.

The governments priority is to tame inflation and hiking interest rates is not the only tool available, said Finance Minister Nirmala Sitharaman while addressing the B20 Summit on Friday. "Obsession to use interest rates as the only tool to deal with inflation and not manage the supply side factors will not give a complete solution," Sitharaman said.

Central banks need to be cognizant of growth- and growth-related priorities even while equally looking at curbing inflation, finance minister Nirmala Sitharaman said Friday, while highlighting the unnecessary priority given to interest rates as a policy tool to curb inflation.

China-plus-one has brought investments, India firing on all cylinders: Bharti Enterprises chief

According to Reuters report earlier, the Indian government is planning a policy that could allow the import of EVs at a tax of as low as 15 percent. Sitharaman, however, said no such proposal has been tabled before her.

FM said that she believes in the India story because of its strengths and urged everyone to not just see the country as China’s alternative and that it has a lot more to offer

Finance Minister Nirmala Sitharaman highlighted Indias resilience and potential at the B20 Summit, choosing to focus on Indias narrative rather than Chinas economic challenges. She emphasized Indias strengths, including its skilled workforce and vibrant work culture. She expressed her commitment to monitoring Chinas situation but stressed her primary focus on Indias current position and opportunities. Sitharaman also outlined the governments initiatives to support infrastructure development, sta...

President and CEO of FedEx, Raj Subramaniam, believes that there is a significant opportunity to strengthen global manufacturing in India. He highlighted the need for India to reduce non-tariff barriers and streamline processes to facilitate the smooth flow of goods across borders.