- India’s hosting of G20 meetings is set to have a lasting impact on its financial sector: Nikunj Agarwal, Head – Debt & Lending Alliances, Propelld
- The conclusion of the India-Middle East-Europe Economic Corridor Agreement and the Global Biofuels Alliance during the summit were also developments of considerable significance
NE BUSINESS BUREAU
NEW DELHI, SEPT 14
The Union Cabinet in its meeting on Wednesday passed a resolution hailing the success of the New Delhi G20 Summit held on September 9 and 10.
The cabinet lauded the government’s endeavour in setting out various aspects of the theme One Earth, One Family, One Future. The cabinet felt that the outcomes of the summit were transformational and would contribute to the reshaping of the global order in the decades ahead.
In particular, the focus on realising Sustainable Development Goals (SDGs), in reforming international financial institutions, in establishing digital public infrastructure, in promoting a green development pact and encouraging women-led development were noteworthy. The cabinet also noted that at a time when East-West polarisation was strong and the North-South divide deep, Prime Minister Modi’s endeavours created a crucial consensus on the most important issues of the day. The holding of the Voice of the Global South Summit was a unique aspect of India’s presidency. It is a matter of particular satisfaction that Indis initiative led to the African Union being accepted as a permanent member of the G20, the resolution said.
“The New Delhi summit provided an occasion for demonstration of India’s contemporary technology advancement as well as of our heritage, culture and traditions. This was widely appreciated by leaders and delegates of G20 member-states,” the resolution added. It said that the energising of the international economy, availability of greater resources for development, expansion of tourism, global workplace opportunities, stronger food security through millet production and consumption and a deeper commitment to bio-fuels are among the prominent outcomes of the G20 Summit that will benefit the entire nation.
The conclusion of the India-Middle East-Europe Economic Corridor Agreement and the Global Biofuels Alliance during the summit were also developments of considerable significance. The union Cabinet appreciated the contribution of all organisations and individuals involved in the success of the G20 summit.
It recognised the enthusiasm with which the people of India, especially the younger generation, participated in its activities. It recognised the leadership of the prime minister in giving the Indian G20 presidency a strong direction with a view to promoting growth and development in the world.
India’s hosting of G20 meetings is set to have a lasting impact on its financial sector: Nikunj Agarwal, Head – Debt & Lending Alliances, Propelld
Stating that India stands at a unique juncture to leave an indelible mark on the global stage by showcasing its recent strides in financial technology, Nikunj Agarwal said, “India’s hosting of G20 meetings is set to have a lasting impact on its financial sector. India’s robust financial infrastructure, coupled with cutting-edge Fintech solutions, has successfully addressed numerous challenges associated with last-mile financial product delivery. This accomplishment is particularly noteworthy given India’s vast and diverse population. An integral facet of G20 discussions is centred around efforts to stabilize international financial markets & inclusive trading practices. These discussions are expected to create a conducive environment for investment and growth, thereby bolstering the attractiveness of India as an investment destination. In essence, India stands at a unique juncture to leave an indelible mark on the global stage by showcasing its recent strides in financial technology (fintech). This exhibition of prowess has the potential to yield positive repercussions across various sectors, enhancing equity and debt investment opportunities within India, while ensuring optimal valuation and cost-efficiency.”
