Emerging Economies Face Growth-Climate Security Dilemma: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman emphasised on sustainable growth and the environment and the need for balancing the two, while speaking at a G7 seminar in Niigata, Japan.
Sitharaman is on a two-day visit as an invitee to the G7 Finance Ministers and Central Bank Governors Meeting at the G7 Hiroshima Summit.
The Finance Minister underscored the dilemma faced by emerging markets and developing economies between climate security and growth, as they manage overlapping crises and socioeconomic transformation, according to Twitter posts from the Finance Ministry.
The Finance Minister shared that #technology improves access for the poor to markets and basic services and highlighted that access to #DigitalConnectivity has #empowered people and there is a need to discuss ways to measure #empowerment going beyond GDP indicators. (2/4)
May 12, 2023Earlier this month, Sitharaman urged Asian Development Bank President Masatsugu Asakawa to support India with more concessional climate financing, during her visit to Incheon for the 56th annual meeting of the Asian Development Bank.
India's economic progress can have a positive impact regionally and globally, she said. The Finance Minister pushed for the multilateral funding agency to further assess and support developing member countries, during a bilateral meeting.
India's focus on technology, digital public infrastructure and green hydrogen is the foundation for sustainable and inclusive growth and can serve as examples of innovative policy toolkits employed by emerging markets and developing economies, Sitharaman said during the meeting, tweets from the Ministry showed.
On Thursday, the Finance Minister interacted with a group of investors and business leaders on the theme of 'Rising Investment Opportunities: Destination India'.
She had invited Japanese investors and business leaders to explore investment opportunities in India, and said that the country is easing restrictions and ensuring overall ease-of-doing-business.
Union Finance Minister Smt. @nsitharaman in conversation with Ms. @GitaGopinath, FDMD, International Monetary Fund @IMFNews, in Niigata, Japan, earlier today. pic.twitter.com/59T4jG1Y3S
May 12, 2023On the sidelines of the event on Friday, Sitharaman met with the International Monetary Fund's Managing Director Kristalina Georgieva and Deputy Managing Director Gita Gopinath.
Sitharaman also interacted with Lawrence Wong, Deputy Prime Minister and Finance Minister of Singapore, and Brazilian Finance Minister Fernando Haddad in Niigata.
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