RBI Governor Sanjay Malhotra Meets US Fed Chief Kevin Warsh At G20
ASHEVILLE-Reserve Bank of India Governor Sanjay Malhotra met US Federal Reserve Chairman Kevin Warsh and International Monetary Fund (IMF) First Deputy Managing Director Dan Katz on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Asheville, North Carolina, according to a post by the RBI on X.
Malhotra is participating in the two-day G20 FMCBG meeting, where finance ministers and central bank governors from member countries are discussing key global economic and financial issues, including economic growth, financial stability, rising debt, trade, investment and reforms to the international financial system.
Finance Minister Nirmala Sitharaman is leading the Indian delegation at the meeting, which is being held under the US G20 presidency.
US Treasury Secretary Scott Bessent has stressed the need for stronger economic growth, higher investment and better productivity to tackle growing global debt.
India is using the G20 meeting to highlight the concerns of emerging economies and promote sustainable growth, trade and investment. New Delhi is also seeking to strengthen economic ties with G20 countries and present India as a major hub for manufacturing, technology and innovation.
Sitharaman also held talks with UK Chancellor of the Exchequer John Healey on trade and investment cooperation on the sidelines of the meeting. She met 3M CEO William Brown as well to discuss India’s manufacturing, technology and skilled workforce.
China’s large trade surplus was also a key issue at the meeting, with the US pushing for more balanced global trade and greater domestic consumption in China. US Treasury Secretary Scott Bessent and 19 other G20 members backed language calling for measures to curb non-market policies and excessive external trade surpluses, but China refused to sign the consensus. Its objection prevented the G20 from issuing a traditional joint communique, prompting the US host to issue a chair’s statement instead. (IANS)
