Union Minister Narendra Singh Tomar on Monday said the world community should lay greater emphasis on globally coordinated policies and actions to deal with complex challenges which are deeply interlinked and are not defined by borders alone.
The Union Minister of Agriculture and Farmers Welfare was speaking in his inaugural address during the two-day G20 International Financial Architecture Working Group meeting here.
Tomar along with Minister of Food Processing Industries Pashupati Kumar Paras inaugurated the meeting.
Tomar said it was a proud moment for the citizens of the country that India is chairing the G20 meet this year and added that the country was well aware of the responsibilities that come with it.
“The world today is faced with a number of complex challenges, which are deeply interlinked and are not defined by borders alone. The challenges being faced are global in nature and require global solutions. Therefore, the world community today needs to lay greater emphasis on globally coordinated policies and actions,” said Tomar.
The minister further stressed that there was also a need for a renewed trust in multilateralism.
“Fully committed to democracy and multilateralism, our country is ready to showcase not only multidimensional development but also universally recognized strength,” he said.
Tomar said that at the recently held World Economic Forum meeting, India was described as “a bright spot” in a fragile world and India's commitment to climate goals and return to the post-Covid growth path was praised by all.
India is ready to fulfill the responsibility given to it, he said adding, “We will be happy to share the template of our successful growth model and we are also open to learning from everyone as well.”
“Through our priorities and outcomes this year, we want to seek practical global solutions through dialogue and discussion. In doing so, we will also take a keen interest in raising voices of developing countries,” he said while noting, “we cannot leave anyone behind now. Through G20's inclusive, ambitious, action-oriented and decisive agenda, we aim to reveal the true spirit of 'Vasudhaiva Kutumbakam'.”
India assumed the G20 presidency for one year on December 1, 2022. The G20, or Group of 20, is an intergovernmental forum of the world's major developed and developing economies.
While speaking about G20's contribution in recent years in providing assistance to the most vulnerable and low-income developing countries, Tomar said steps taken to address the rising insecurity of the debt are particularly noteworthy.
The growing pace of these efforts will continue with India's presidency in 2023, he said adding that at the same time, the group would take advantage of its good position to consider how "we can redesign global and financial governance."
In the two-day G20 International Financial Architecture Working Group meeting which commenced here on Monday, participants will discuss ways to enhance the stability and cohesion of the global financial architecture and how to make it fit to address the global challenges of the 21st century.
The meeting will also focus on exploring ways to provide maximum support to poor and vulnerable countries.
