Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman participated virtually from New Delhi in the G20 International Seminar hosted in Bali by the G20 Presidency of Indonesia.

Union Finance Minister Smt. Nirmala Sitharaman speaks virtually in the G20 International Seminar hosted in Bali by the G20 Presidency of Indonesia from New Delhi

Speaking on the G20’s theme for the year, “Recover Together, Recover Stronger”, the Finance Minister stressed on the fact that for a strong, sustainable, balanced and inclusive recovery of the global economy, it is imperative to ensure collective progress of all countries. Towards achieving this goal, she said that the critical role of multilateralism and collective action. Smt. Sitharaman also underlined the importance of Inclusion, Investment, Innovation and Institutions to support the path of global recovery.

The Finance Minister emphasised on the importance of ensuring affordable and equitable access to vaccines and therapeutics to bridge the divergences being witnessed in the global economic recovery. In this context, Smt. Sitharaman highlighted that so far India has administered over 1.25 billion doses of vaccines and supplied more than 72 million vaccine doses to over 90 countries, including by way of grant thereby reflecting India’s commitment to co-ordinated global action.

Finance Minister stressed on the importance of enhanced infrastructure investments for enabling a quick and stable return to the growth path.

Smt. Sitharaman also emphasised that green investments will play a key role in the rebuilding efforts of governments and called upon the G20 to deliberate on how climate finance and green technologies can be made available to developing countries so as to incentivize and accelerate their efforts towards green growth. 

Multilateral coordination required to secure equitable vaccine access and mobilise green finance for inclusive economic recovery. Promotes multilateral policy coordination emphasising Inclusion, Investment, Innovation and Institutions to achieve an inclusive, sustainable recovery; calls for affordable, equitable access to vaccines and therapeutics to close recovery gaps and cites cross border vaccine supply as coordinated action. Urges enhanced infrastructure investment and mobilisation of green finance and green technologies for developing countries to incentivise and accelerate low carbon growth and enable rapid, stable returns to economic expansion.