The inaugural Infrastructure Working Group (IWG) Meeting under India’s G20 Presidency is due to commence in Pune on Monday and will focus on various elements of making cities economic centers of growth, funding urban infrastructure, and making it future-ready in all areas.
The summit will also focus on targeting fiscal expenditures to unlock Pvt funding for energy-efficient and ecologically friendly infrastructure, as well as addressing socioeconomic disparities. The IWG summit is slated for January 16-17 in Pune, Maharashtra, as part of India’s G-20 Presidency, and will bring together forum members, guest nations, and international organizations invited by India to debate the 2023 Infrastructure Agenda.
The conference will be hosted by the Department of Economic Affairs and the Ministry of Finance, with Australia and Brazil serving as co-chairs, according to an official announcement from the Ministry of External Affairs.
The G20 Infrastructure Working Group discusses many elements of infrastructure investments, such as expanding infrastructure as an asset class, supporting quality infrastructure investment, and proposing creative tools for mobilizing financial resources for infrastructure investment.
According to the Ministry of External Affairs’ official statement, the conclusions of the IWG feed into the G20 Finance Track agenda and encourage infrastructure development.
The flagship priority to be discussed in this meeting is “Financing Cities of Tomorrow: Inclusive, Resilient and Sustainable.”
Moreover, India also has a crucial role to play in its G20 presidency in the technology sector. As a country with a strong focus on technology and innovations, it has a significant role to play in bridging the digital divide.
Harsh Shringla, India’s Chief Coordinator for G20, earlier said the principle of data for development will be an integral part of the overall theme of India’s presidency of the group of the world’s developed and emerging economies.
On Sunday, Solomon Arokiaraj, Joint Secretary, Department of Economic Affairs, Ministry of Finance said that the G20 delegates have already arrived in Pune for the meeting.
“The first infrastructure working group meeting of G20 is going to happen in Pune. Today is the welcome dinner for the delegates who have already arrived and tomorrow and the day after tomorrow that is the 16th and 17th will be the official proceeding of the G-20 infrastructure working group,” Arokiaraj said on Sunday during a media briefing on the first Infra working group meeting of G-20.
Arokiaraj said that the Infrastructure working group deliberates on various issues related to the infrastructure sector, the challenges, the financing options and various standardisations, and indicators. “So, during different presidencies, different themes have been selected,” he said.
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union are members of the G20.
