Inflation is a key issue that the world faces

Inflation is a key issue that the world faces. Our G20 Presidency engaged the G20 Finance Ministers and Central Bank Governors. It was recognized that timely and clear communication of policy stances by Central Banks is crucial. This can ensure that policies taken by each country to combat inflation do not lead to negative repercussions in other countries. Significant emphasis was also placed on enabling countries to share policy experiences on how they tackle the challenges associated with food and energy price volatility especially since food and energy markets are closely interconnected. As far as international taxation is concerned, India used the G20 forum to provide a strong impetus to achieve significant progress on Pillar One, including the delivery of a text of a Multilateral Convention.

This Convention will allow countries and jurisdictions to move forward with historic, major reform of the international tax system. As you can see, there is substantial progress across many issues. This is also a result of the confidence that other partner countries have shown in India's Presidency. Q: Are we expecting any consensus at the G-20 summit on the challenge of debt restructuring, which has become a problem for the global South. Is India helping countries trapped in the Chinese debt trap such as Sri Lanka, Sudan etc. How much increase in allocation of assistance has India made to these countries. A: I am happy that you asked me a question on this topic. The debt crisis is indeed a matter of great concern for the world, especially developing countries.

Citizens from different countries are keenly following the decisions being taken by governments in this regard. There are some appreciable results too. First, countries that are going through debt crisis or have gone through it, have begun to give greater importance to financial discipline. Second, others who have seen some countries facing tough times due to the debt crisis are conscious of avoiding the same missteps. You are well aware that I have urged our state governments to be conscious about financial discipline as well. Whether it is in the National Conference of Chief Secretaries or any such platform, I have said that financially irresponsible policies and populism may give political results in the short term but will extract a great social and economic price in the long term. Those who suffer those consequences the most are often the poorest and the most vulnerable.

Our G20 Presidency has placed a significant emphasis on addressing the global challenges posed by debt vulnerabilities, especially for nations in the Global South. G20 Finance Ministers and Central Bank Governors have acknowledged the good progress in debt treatment of Common Framework countries and beyond the Common Framework too. We have also been greatly sensitive to the needs of our valued neighbour, Sri Lanka, during their tough times. To accelerate global debt restructuring efforts, the Global Sovereign Debt Roundtable, a joint initiative of the IMF, World Bank and the G20 Presidency was launched earlier this year. This will strengthen communication among key stakeholders and facilitate effective debt treatment. While a lot is being done to address these issues, as I said earlier, I am positive that rising awareness among the people of different countries will ensure that such situations don't recur often.

Q: Your message to President Putin in Samarkand that this is not an era of war has won worldwide endorsement. Given the differences between G-7 and China-Russia combine, it will be difficult for the bloc to adopt this message. In that context what can India do as the president to help forge a consensus, and what will be your personal message to the leaders to help build that consensus.

A: There are many different conflicts across various regions. All of them need to be resolved through dialogue and diplomacy. This is our stand on any conflict anywhere. Whether as G20 president or not, we will support every effort to ensure peace across the world. We recognize that we all have our positions and our perspectives on various global issues. At the same time, we have repeatedly emphasized that a divided world will find it difficult to fight common challenges. The world is looking at G20 to deliver results on many issues such as growth, development, climate change, pandemics, and disaster resilience, which affect every part of the world. We can all face these challenges better if we are united. We have and we will always stand in support of peace, stability and progress.

Q: A major push by India has been on equal distribution of trusted technologies and democratisation of technologies. How far have we achieved this goal. A: When it comes to the democratization of technology, India has global credibility. We have taken many steps over the last few years that the world has taken note of. And those steps are also becoming stepping stones for a larger global movement. The world's largest vaccine drive was also the most inclusive. We provided over 200 crore doses free. It was based on a tech platform COWIN. Further, this platform was even made open source so that other countries too could adopt and benefit. Today, digital transactions are empowering every section of our business life, from street vendors to big banks.

Our Digital Public Infrastructure was an object of wonder for many people globally, especially the way it was used for public service delivery during the pandemic. Many countries across the world had announced welfare packages but some of them found it difficult to deliver it to the people. But in India, the Jan Dhan-Aadhar-Mobile (JAM) Trinity ensured financial inclusion, authentication and transfer of benefits directly to the beneficiaries with one click. Further, our ONDC is an initiative that is being welcomed by citizens and experts as an important evolution point in democratizing and creating a level playing field on digital platforms. The G20, in the Digital Economy Ministers meeting, was able to adopt a framework to develop, deploy and govern digital public infrastructure. They have successfully adopted principles to keep the digital economy safe and secure while laying the foundations for the One Future Alliance to synergise global efforts for a DPI ecosystem.

It is well known that technology can have a great impact on healthcare service delivery. Ayushman Bharat Digital Mission has been making an important contribution to this space in India. Due to our mantra of 前ne Earth One Health', our concern for people's health does not end with our borders. During our G20 Presidency, the Health Ministers of the grouping have successfully built consensus on the Global Digital Health Initiative which will help implement the WHO Global Digital Health Strategy. Our approach towards leveraging technology is motivated by a spirit of inclusion, last-mile delivery, and leaving no one behind. At a time when technology used to be thought of as an agent of inequality and exclusion, we are making it an agent of equality and inclusion