<h1>Finance Commission Chair Urges Reinvention of Globalization, Multilateralism to Tackle Protectionism and 21st-Century Challenges.</h1> The Chairman of the 15th Finance Commission addressed the Indian Economic Association, discussing the decline and potential recovery of multilateralism and globalization. He highlighted the historical significance of these concepts, their intertwined nature, and the challenges they face today, such as rising protectionism and the inadequacies of current multilateral institutions like the WTO, IMF, and World Bank. The speech emphasized the need for these institutions to adapt to 21st-century realities, including technological advancements and global challenges like climate change. The Chairman called for a reinvention of globalization and multilateralism to ensure they remain relevant and effective.