{"id":135121,"date":"2023-08-24T10:46:56","date_gmt":"2023-08-24T05:16:56","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=135121"},"modified":"2023-08-24T10:46:58","modified_gmt":"2023-08-24T05:16:58","slug":"pms-keynote-at-the-g20-trade-investment-ministers-meeting","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/","title":{"rendered":"PMs Keynote at the G20 Trade &#038; Investment Ministers\u2019 Meeting"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#Championing_Global_Trade_and_Connectivity_Prime_Ministers_Inaugural_Statements\" >Championing Global Trade and Connectivity: Prime Minister&#8217;s Inaugural Statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#G20_Trade_Investment_Ministers_Meeting_Indias_Ascendance_as_an_Economic_Power\" >G20 Trade &amp; Investment Ministers\u2019 Meeting: India&#8217;s Ascendance as an Economic Power<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#Transitioning_from_Bureaucracy_to_Facilitation_G20_Trade_Investment_Ministers_Meeting\" >Transitioning from Bureaucracy to Facilitation: G20 Trade &amp; Investment Ministers\u2019 Meeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#G20_Trade_Investment_Ministers_Meeting_Confronting_Global_Trials_and_Rebuilding_Trust\" >G20 Trade &amp; Investment Ministers\u2019 Meeting: Confronting Global Trials and Rebuilding Trust<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#Leveraging_Technology_for_Trade_Transformation\" >Leveraging Technology for Trade Transformation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#G20_Trade_Investment_Ministers_Meeting_Upholding_Fairness_and_Multilateralism_in_Trade\" >G20 Trade &amp; Investment Ministers\u2019 Meeting: Upholding Fairness and Multilateralism in Trade<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/pms-keynote-at-the-g20-trade-investment-ministers-meeting\/#A_Shared_Responsibility_for_an_Inclusive_and_Representative_Future\" >A Shared Responsibility for an Inclusive and Representative Future<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Championing_Global_Trade_and_Connectivity_Prime_Ministers_Inaugural_Statements\"><\/span>Championing Global Trade and Connectivity: Prime Minister&#8217;s Inaugural Statements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>During a virtual participation in the G20 Trade and Investment Ministers\u2019 Meeting, the Honorable Prime Minister of India, Shri Narendra Modi, extended a hearty welcome to all participants and emphasized the historical role of trade in fostering cultural exchange, idea dissemination, and technological advancement. He noted that through trade, diverse societies have been drawn together, and he underlined how trade and globalization have been instrumental in alleviating extreme poverty for countless individuals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"G20_Trade_Investment_Ministers_Meeting_Indias_Ascendance_as_an_Economic_Power\"><\/span>G20 Trade &amp; Investment Ministers\u2019 Meeting: India&#8217;s Ascendance as an Economic Power<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bringing attention to the buoyant sentiment surrounding India&#8217;s economy, Prime Minister Modi underscored the nation&#8217;s emerging image as a fusion of openness, opportunities, and choices. He took pride in India&#8217;s elevation to the world&#8217;s fifth-largest economy over the past nine years, attributing this achievement to the government&#8217;s relentless commitment. He recollected the transformative path embarked upon in 2014, characterized by the guiding tenets of &#8220;Reform, Perform, and Transform.&#8221; This journey has been marked by a concerted drive towards enhanced competitiveness, transparency, digitization, innovation, and modernized infrastructure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Transitioning_from_Bureaucracy_to_Facilitation_G20_Trade_Investment_Ministers_Meeting\"><\/span>Transitioning from Bureaucracy to Facilitation: G20 Trade &amp; Investment Ministers\u2019 Meeting<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2023\/08\/G20-Trade-Investment-Ministers-Meeting-2-1.png\" alt=\"Transitioning from Bureaucracy to Facilitation: G20 Trade &amp; Investment Ministers\u2019 Meeting\" class=\"wp-image-135127\"\/><\/figure>\n\n\n\n<p>The Prime Minister celebrated India&#8217;s shift from cumbersome bureaucratic procedures to a more welcoming economic landscape, often epitomized as the transition from &#8220;red tape to red carpet.&#8221; The liberalization of Foreign Direct Investment (FDI) inflows, coupled with the establishment of dedicated freight corridors and industrial zones, has been instrumental in propelling the nation&#8217;s economic progress. Initiatives such as Make in India and Aatma Nirbhar Bharat (Self-Reliant India) have breathed new life into the manufacturing sector and established a stable policy framework within the country. With unwavering resolve, Prime Minister Modi presented a bold vision of positioning India as the world&#8217;s third-largest economy in the foreseeable future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"G20_Trade_Investment_Ministers_Meeting_Confronting_Global_Trials_and_Rebuilding_Trust\"><\/span>G20 Trade &amp; Investment Ministers\u2019 Meeting: Confronting Global Trials and Rebuilding Trust<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Acknowledging the weighty challenges posed by global upheavals like the pandemic and geopolitical tensions, the Prime Minister emphasized the collective duty of G20 nations to reinstate faith in international trade and investments. In response to these challenges, Prime Minister Modi advocated for the creation of robust and inclusive global value chains, capable of enduring future shocks. He shone a spotlight on India&#8217;s proposition for a Universal Framework to Map Global Value Chains, an innovative approach aimed at identifying vulnerabilities, minimizing risks, and fortifying overall resilience.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Leveraging_Technology_for_Trade_Transformation\"><\/span>Leveraging Technology for Trade Transformation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Prime Minister underscored the undeniable influence of technology on trade dynamics. He presented the example of India&#8217;s successful adoption of the Goods and Services Tax (GST), a single online indirect tax that streamlined inter-state trade and ushered in a unified internal market. He also highlighted India&#8217;s Unified Logistics Interface Platform, crafted to elevate the transparency and affordability of trade logistics. Another groundbreaking initiative, the &#8216;Open Network for Digital Commerce,&#8217; was characterized as a game-changer that democratizes the digital marketplace ecosystem. The Prime Minister hailed this innovation as akin to the triumph of the Unified Payments Interface (UPI) in the realm of payment systems. Digitalization, he emphasized, holds the promise of expanding market reach and streamlining cross-border trade processes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"G20_Trade_Investment_Ministers_Meeting_Upholding_Fairness_and_Multilateralism_in_Trade\"><\/span>G20 Trade &amp; Investment Ministers\u2019 Meeting: Upholding Fairness and Multilateralism in Trade<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Reiterating India&#8217;s steadfast commitment to a rules-based, all-encompassing, and multilateral trading system, Prime Minister Modi championed the World Trade Organization (WTO) as its cornerstone. He highlighted India&#8217;s advocacy for the Global South at the 12th WTO Ministerial Conference, a landmark event resulting in consensus to safeguard the interests of farmers and small businesses. Acknowledging the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) in the global economy, the Prime Minister underscored the need for uninterrupted support to ensure their empowerment. He unveiled India&#8217;s credo of &#8220;Maximum Support to Micro, Small, and Medium Enterprises,&#8221; reflecting the nation&#8217;s laser focus on their growth. The government&#8217;s integration of MSMEs into public procurement through the Government e-Marketplace and its dedication to sustainable practices via the &#8216;Zero Defect, Zero Effect&#8217; approach were highlighted as momentous strides.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_Shared_Responsibility_for_an_Inclusive_and_Representative_Future\"><\/span>A Shared Responsibility for an Inclusive and Representative Future<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In his closing statements, Prime Minister Modi stressed the collective obligation of G20 members as a global family to rejuvenate trust in international trade and investment mechanisms. He radiated optimism that the combined endeavors of the working group would pave the path for a global trading system that encapsulates inclusivity and representation. With these visionary words, the Prime Minister concluded his address, underscoring India&#8217;s unswerving commitment to nurturing collaboration, innovation, and prosperity in the domain of trade and investment.<\/p>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/caiib-abm-exam-analysis\/\">CAIIB ABM Exam Analysis 2026, 31st May All Shifts Analysis<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/how-to-prepare-current-affairs-for-rbi-grade-b\/\">How to Prepare Monthly Current Affairs for RBI Grade B?<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/how-to-prepare-general-awareness-for-rbi-grade-b\/\">RBI Grade B General Awareness, Know Tips to Crack GA for RBI Grade B<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/ssc-cgl-certificate-format\/\">SSC CGL Certificate Format 2026 for OBC, EWS and More<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/rbi-february-circulars\/\">Attempt RBI Circulars February 2026 Practice Quiz &amp; Download PDF<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Championing Global Trade and Connectivity: Prime Minister&#8217;s Inaugural Statements During a virtual participation in the G20 Trade and Investment Ministers\u2019<\/p>\n","protected":false},"author":52,"featured_media":135125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12574,10386],"tags":[77],"class_list":["post-135121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-august","category-current-affairs","tag-current-affairs","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PMs Keynote at the G20 Trade &amp; Investment Ministers\u2019 Meeting<\/title>\n<meta name=\"description\" content=\"PM welcomed participants for G20 Trade &amp; 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