IMF Managing Director Kristalina Georgieva on Thursday mentioned India is taking the lead from a place of “strength” to guide G20 international locations and can depart its mark on the world within the years to return.
India will assume the presidency of the G20 for one 12 months from December 1, 2022. Under its chairmanship, India is predicted to host over 200 G20 conferences throughout the nation. The G20 Leaders’ Summit on the stage of Heads of State/Government is scheduled to be held in New Delhi on 9 and 10 September 2023.
Speaking to reporters right here on the sidelines of the annual assembly of the International Monetary Fund and the World Bank, Georgieva mentioned, “India deserves to be referred to as a vivid spot on this in any other case darkish horizon as a result of it has been a quick rising economic system, even Even throughout this time there are powerful instances, however most significantly, this growth is predicated on structural reforms.
Key among the many structural reforms are “remarkable success in digitization in India, providing all services and support based on digital ID to digital access,” she mentioned. “This has indeed been a big factor for India’s success, ” He mentioned.
“And so, the nation is now transferring from a place of power to the G20, which makes me strongly imagine that we’ll see India on the earth within the years to return through the subsequent 12 months’s presidency (G20K). But will depart an impression, Georgieva mentioned.
And what may that mark be and in what areas he requested. “It could be the area of digitization including digital money. We know we need regulation of crypto, we know we need to focus some more on cross-border payments. We are proposing public investment in cross-border payments platform infrastructure,” she mentioned.
“It may be in the area of bringing more fairness to our institutions. Next year we have to complete the 16th quarter review. India has been a very strong voice for the Fund to be financially sound and become a strong institution based on fair representation of our members,” she mentioned.
“It might be in renewable vitality. What’s not so well-known, you recognize, India has actually taken a leap by way of photo voltaic and different types of renewable vitality. So, I’m very wanting ahead to subsequent 12 months and I’m positive That it can make the folks of India, about 1.4 billion of them, really feel very proud,” mentioned the IMF Managing Director.
With inputs from TheIndianEXPRESS
