G20 India Main Agenda Points Nirmala Sitharaman Crypto Regulation Climate Financing

G20 India Main Agenda Points Nirmala Sitharaman Crypto Regulation Climate Financing

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said that climate financing, funding energy transition, developing urban infrastructure and regulating crypto assets would be some of the major agenda items for India as G20 President.

India will be assuming presidentship of G20 on December 1, which will continue till November 20, 2023.

Addressing the ICRIER’s 14th annual G20 conference, the Finance Minister said that India will try to be a voice of the low income countries in the G20 grouping.

Sitharaman further said that global spillovers and global taxation are also areas of priority and it would be India’s endeavour to build consensus on it among the member nations.

She said that debt distress will be an issue India would like to discuss during it’s presidency tenure.

Multilateral, particularly financing, institutions will be major issues of focus as these institutions are apparently not leveraging their endowments properly, the minister said.

Meanwhile, the Reserve Bank of India (RBI) launched a pilot for its central bank digital currency (CBDC) on November 1. Dubbed Digital Rupee, or e₹, India’s CBDC is being rolled out in two forms, specifically designed for two different use cases:  e₹-W (wholesale segment) and e₹-R (retail segment).

With this move, India will join a long list of countries — including neighbouring Pakistan and China — to tap into the crypto sector with a central bank-issued digital coin.

(With inputs from IANS)

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