The Minister pointed out that the government has focussed on two key aspects for growth of trade and investment, namely creation of a robust financial network and an ecosystem-based approach in  growth.

The Minister informed the G20 meeting that India has seen exponential growth in overall exports and investment.

The Union Minister of State for Finance Dr. Bhagwat Karad addressed the inception meeting of the G20 Trade and Investment Working Group in Mumbai today. Addressing the gathering, the Union Minister said that the government of India has made India into country of hope by creating immense opportunities for global trade and commerce.

The Minister pointed out that the government has focussed on two key aspects for growth of trade and investment, namely creation of a robust financial network and an ecosystem-based approach in  growth.

The Minister informed the G20 meeting that India has seen exponential growth in overall exports and investment. “India’s share in global exports jumped from 0.5 percent in 1990 to 1.7 percent in 2018 to 2.1 percent in 2022. India’s overall exports in April-December 2022 were estimated at $568.57 billion. This was owing to the pro-active and integrated development approach of the Indian government.”

The Minister said that India’s G20 presidency is about setting the tone for encouraging trade and investment in  keeping with the principles of broad-based growth. “Many developing countries can benefit from initiatives such as UPI, ODOP and Aspirational District program. Under these programs.  Indian states promote trade through indigenous products, other countries may also promote unique products from their country.”