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Successful Conclusion of the G20 Framework Working Group Meeting under Indian G20 Presidency

The G20 Framework Working Group (FWG), co-chaired by India and the UK, successfully concluded its fourth and final meeting under the Indian G20 Presidency. The two-day meeting, held from September 18 to 19, 2023, brought together around 65 delegates from G20 member countries, invitee nations, and international and regional organizations.

Championing Collaboration: India and the UK

The co-chairs of the FWG, Ms. Chandni Raina, Adviser, Ministry of Finance, Government of India, & Ms. Sam Beckett, Chief Economic Adviser, HM Treasury, UK, played pivotal roles in steering the discussions. Their leadership reflected the collaborative efforts of India and the UK in addressing critical global economic issues.

The meeting served as a platform to reflect on the significant progress achieved by the FWG in 2023 under India’s G20 Presidency. It provided an opportunity to explore options for continuing this momentum and ensuring a resilient global economy.

Notable Deliverables: G20 Reports

During India’s G20 Presidency, the FWG delivered two important reports, both referenced in the New Delhi Leaders Declaration. These reports focused on:

  1. Macroeconomic Impacts of Food and Energy Insecurity: Addressing the macroeconomic consequences of food and energy insecurity and exploring policy options to mitigate them effectively.
  2. Macroeconomic Risks Stemming from Climate Change: Analyzing the macroeconomic risks associated with climate change and transition pathways, emphasizing the need for coordinated global efforts.

Global Economic Outlook and Key Risks

The meeting featured in-depth discussions on the global economic outlook and key risks, based on presentations by international organizations. These discussions aimed to better understand the evolving economic landscape and the challenges it presents.

Delegates had the opportunity to delve into the initial findings of the draft G20/IMF Strong Sustainable, Balanced, and Inclusive Growth Report. This report holds the potential to shape policies for achieving robust, sustainable, and inclusive growth on a global scale.

Jan Bhagidari Events and Cultural Exchange

The Reserve Bank of India organized Jan Bhagidari events to engage a broader audience in the G20 discussions. These events included financial literacy programs, G20 awareness initiatives, contests, and a quiz competition aimed at students, self-help organizations, and the general public.

Exploration and Cultural Experience in Chhattisgarh

Delegates enjoyed an excursion to Nandanvan Zoological Garden, which offered a glimpse of Chhattisgarh’s lush landscapes and diverse wildlife. The evening continued with a ‘Ratri Bhoj Par Samvad’ (Conversation over Dinner) and a cultural event, providing a taste of Chhattisgarh’s rich cultural heritage and cuisine.

In alignment with the Indian Presidency’s theme of “One Earth, One Family, One Future,” the FWG affirmed its commitment to enhancing international cooperation. The group’s collective efforts aim to address macroeconomic challenges and build a resilient and prosperous global economy, benefiting people around the world.

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