Welcoming G20 members to the Pink City of Jaipur, Prime Minister Narendra Modi on Thursday said that today India is seen as a combination of openness, opportunities and options. He added that Indian economy is now seen with optimism and confidence.
“A very warm welcome to Jaipur, the Pink City. This region is known for its dynamic and enterprising people. Friends, throughout history, trade has led to exchange of ideas, cultures and technology. It has brought people closer. Trade and globalisation have also lifted hundred of millions out to extreme poverty. Today we see global optimism and confidence in the Indian economy. India is seen as a combination of openness, opportunities and options,” the prime minister said in his address.
PM Modi further said, “During the last nine years, India has become the fifth largest global economy. This is the result of our sustained efforts. We embark on the journey of reform, perform and transform. In 2014, we have increased competitiveness and enhanced transparency. We have expanded digitization and promoted innovation.”
#WATCH | Prime Minister Narendra Modi in his virtual address at the G20 Meeting of Trade and Investment Ministers says, "…MSME account for 60 to 70 per cent of employment & contribute 50 per cent of the global GDP. They need our continuous support. Their empowerment translates… pic.twitter.com/94BLT9800E— ANI (@ANI) August 24, 2023
Trade and investment ministers from G20 members, heads of international organisations like the World Trade Organisation (WTO) and representatives of invitee countries will attend the G20 Trade and Investment Ministerial Meeting (TIMM) in Jaipur from August 24-25.
Among them is Singapore’s Minister for Trade and Industry Gan Kim Yong, who will highlight the empowerment of the integration of Small and Medium Enterprises into the global trading system.
Hosted by India, the theme of this year’s G20 is Vasudhaiva Kutumbakam (One Earth, One Family, One Future). During the TIMM, the ministers will deliberate on issues of common interest impacting global trade and investment across three sessions focusing on multilateral trade for global growth and prosperity, inclusive and resilient trade and leveraging technology for paperless trade.
More than 300 delegates are arriving in Jaipur to attend the meeting of the trade and investment ministers of G20 under India’s presidency. The outcomes from these deliberations would provide guidance on accelerating global trade and investment, which is increasingly facing headwinds from a challenging global macroeconomic outlook.
Singapore is participating in the G20 discussions as a guest country.
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