G-20 Finance Chiefs to Tackle Global Economic Threats in India

India: Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru this week to tackle myriad challenges to global growth and stability, including stubbornly high inflation and surging debt.

India is hosting the G-20 financial conclave for the first time in 20 years. Later in the year, it will convene its first summit of G-20 economies.

The meetings offer the world’s second most populous country a chance to showcase its ascent as an economic power and its status as a champion of developing nations.

India’s economy is forecast to expand at a 6.1 percent annual rate in 2023 after growing 6.8 percent last year, the IMF said in a report issued last Monday.

Bengaluru is India’s start-up and technology powerhouse. First recognized as an outsourcing hub, it’s now known for its entrepreneurs and information technology companies.

India has invited the Sultanate of Oman as a guest country for the Group of 20 leaders’ summit to be held in New Delhi in September 2023.

The G-20 includes the world’s largest economies and has a rolling presidency. In 2022, Indonesia was host and next year, Brazil will take over, followed by South Africa in 2025.

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