Nirmala Sitharaman further said that the World Bank and the International Monetary Fund (IMF) will also hold a global sovereign debt roundtable.
Posted Date – Tue, 11 Apr 23 at 09:24am
New Delhi: On Tuesday, Finance Minister Nirmala Sitharaman slammed Western media reports of violence against ethnic minorities in India, especially Muslims, saying those who comment on such issues should Come check it out as India has the second largest Muslim population in the world and the minority is not only growing exponentially but is being motivated and doing business in the country.
In an interaction with Adam Posen of the Peterson Institute for International Economics in Washington, D.C., during her ongoing trip to the United States, the treasury secretary cited the example of Pakistan, which was created as an Islamic state promising equal treatment of minorities Yes, but there have been “significantly reduced” minorities and even several Muslim denominations that do not align with the majority community.
“In stark contrast, since 1947, the number of minorities in India has been growing and their business has been comfortable…they have been receiving scholarships. India has the second largest Muslim population in the world. The answer is also Investors are pouring into India. I would say, please see the reality for yourself and not listen to people who haven’t even seen what’s happening on the ground,” she said in an interaction that focused on “the Indian economy is contracting.” Policy Resilience in the Case of “Indian Conditions”.
She was responding to a question from Posen about violence against Muslims in India in Western media and reports of the loss of status of opposition lawmakers, referring to Rahul Gandhi’s disqualification from Parliament.
Meanwhile, speaking of the resilience of the Indian economy, the finance minister said, “This is due to the enterprising spirit of Indians. Despite the suffering and loss of life, we see Covid-19 as a challenge and help each other. ways to support people and take humanitarian steps.”
Referring to supply chain disruptions, the finance minister said, “Multinational corporations have become cautious and are diversifying given the impact of supply chain disruptions. India is poised to play a greater role in global value chains. Attractive because of young people and huge domestic market.”
Emphasizing India’s future goals, Sitharaman said, “Today, we have reached saturation in providing our citizens with basic facilities like housing, electricity, transportation, etc. and are empowering them. The focus is on financial inclusion so that all There are bank accounts and benefits can go directly to them. Going forward, we will focus on skills and digitization to improve the convenience of life, transparency and formalization of the economy.”
On emerging markets and the G20, she noted that India was advancing the agenda of the previous G20 presidency, bringing to the table issues that India considered important and building on the legacy of India’s G20 presidency for future G20 presidencies.
“Emerging markets have three consecutive G20 presidencies, Indonesia in 2022, India in 2023 and Brazil next year. This will bring the perspective of emerging markets to the foreground and the voice of the global south to the G20 negotiating table,” added Sitharaman .
She further said that the World Bank and the International Monetary Fund (IMF) will also hold a global sovereign debt roundtable.
“Initial discussions took place at the first G20 FMCBG meeting in Bengaluru. India’s G20 presidency will open discussions and share information on this issue and will actively move forward,” the finance minister added.
On the World Trade Organization (WTO), Sitharaman added that it should be more open to issues.
“The WTO must be progressive and fair to all members. It must give a voice to all, not just to be heard, but to be heeded. Electronic transmissions have been suspended since 1998, despite having evolved into the digital age. WTO’s Shouldn’t the policy change in terms of suspension? We don’t have to reverse the benefits of globalization, but make it more transparent,” she stressed.
