Home / News / India /  Collective action needed for global recovery: Nirmala Sitharaman

NEW DELHI : Finance minister Nirmala Sitharaman on Thursday told world leaders at a G20 seminar that multilateralism and collective action were central to global economic recovery and collective progress.

Speaking at the international seminar in Bali hosted by Indonesia, which holds the G20 Presidency, Sitharaman also emphasised affordable and equitable access to vaccines and therapies. The seminar was on the subject ‘recover together, recover stronger.’

For a strong, sustainable, balanced and inclusive recovery of the global economy, it is imperative to ensure collective progress of all countries, an official statement from the finance ministry said quoting from Sitharaman’s address. The minister also stressed the critical role of multilateralism and collective action in achieving this goal.

Sitharaman underlined the importance of inclusion, investment, innovation and institutions to support the path of global recovery.

The finance minister also emphasised the importance of ensuring affordable and equitable access to vaccines and therapeutics to bridge the divergences being seen in the global economic recovery. In this context, Sitharaman highlighted that so far India has administered over 1.25 billion doses of vaccines and supplied more than 72 million vaccine doses to over 90 countries, including by way of grant, which reflects India’s commitment to co-ordinated global action.

Sitharaman stressed the importance of enhanced infrastructure investments for enabling a quick and stable return to the growth path, said the statement.

She also emphasised that green investments will play a key role in the rebuilding efforts of governments and called upon the G20 to deliberate on how climate finance and green technologies can be made available to developing countries so as to incentivize and accelerate their efforts towards green growth.

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