India’s Finance Minister Nirmala Sitharaman is scheduled to attend the upcoming summit on a New Global Financing Pact which will be hosted by France in Paris later this month. This summit, organized at the invitation of President Macron, aims to bring together leaders from around the world to discuss and establish a fairer and more solidarity-based financial system.
The event will witness participation from heads of state and governments, leaders of major international organizations, representatives of global financial institutions, and delegates from the private sector and civil society. Together, they will focus on addressing shared global challenges such as poverty, climate change, and the protection of diversity.
The summit, to be held at the historic Palais Brongniart, holds significant importance in light of other major international meetings scheduled later in the year. These include the G20 summit under the Indian Presidency, the World Bank and IMF Annual Meetings in Marrakech, the UN Secretary-General’s summit in New York on Sustainable Development Goals, and the UN Climate Change Conference (COP28) in Dubai.
The French statement regarding the summit emphasizes its objective of fostering future reforms and establishing a more balanced financial partnership between the Global South and North. By promoting inclusivity and cooperation, the summit aims to create a financial system that better serves the needs of all nations, particularly those in the developing world.
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The presence of Finance Minister Sitharaman at the summit highlights India’s commitment to addressing global economic issues and finding sustainable solutions. As one of the world’s largest economies and a nation with a significant stake in global development, India’s participation will undoubtedly be expected to contribute to the discussions and shape the outcomes of the summit.
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