"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 India s potential for inclusive global development and highlighted its success in digital infrastructure and public service delivery. He also mentioned India s 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 government s 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.