1St G20 Finance & Central Deputies Meeting Begins in Bengaluru
Traditional welcome for the delegates in Bengaluru
BENGALURU, DEC 13: The IT capital of India, Bengaluru, held its first G20 Finance and Central Bank Deputies (FCBD) meeting today. The meeting marks the start of discussions under the Finance Track of India’s G20 Presidency, which would is jointly hosted by the Ministry of Finance and the Reserve Bank of India from 13-15th December 2022.
The G20 Finance Track, led by Finance Ministers and Central Bank Governors of G20 countries, focuses on global macroeconomic and financial issues and provides an effective forum for global economic discourse and policy coordination. The G20 Finance track that remains as the backbone of G20, is quintessential to G20 shaping the global architecture on all major international economic issues.
On Monday, the G20 delegates were given a traditional Kannadiga welcome at the new inaugurated International Terminal of the Bengaluru airport with soulful music and dance performances that showcased the colours of Karnataka. Moreover, several cultural products from Karnataka’s One District One Product scheme were also on display for the delegates to get a glimpse of India’s vast heritage and tradition which included Channapatna Wooden Toys, Mysore Rosewood Inlay, Bidriware Metal Handicrafts among others.
The two-day meeting of G20 Finance and Central Bank Deputies is co-chaired by Mr Ajay Seth, Secretary, Department of Economic Affairs and Dr Michael D. Patra, Deputy Governor of RBI and is participated by their counterparts from G20 member countries, international organisations and special invitees of India that accounted to over 180 delegates from all around the world.
On Day 1 of the Finance and Central Bank Deputies meeting, four sessions were held on the topics of Global Economy, International Financial Architecture, Infrastructure, and Sustainable Finance. Besides the welcoming and closing remarks by the Indian Presidency, the G20 family photo was also taken during the meeting which would break for the day with a special networking dinner for all the delegates.
The Day 2 of the meeting will consist of sessions on International Taxation, Global Health, Financial Sector and Financial Inclusion and side event on Strengthening Multilateral Development Banks to Address Shared Global Challenges of 21st Century. On the final day the delegates would be taken to Indian Institute of Science (IISC) and other tourist spots around Bengaluru including Nandi Hills.
