India G20 Presidency: First Infrastructure Working Group Meet begins

NEW DELHI: The first Infrastructure Working Group (IWG) Meeting begins in Pune under India's G20 Presidency and will focus on various facets of making cities economic centres of growth, financing urban infrastructure, and making it future-ready in all aspects.

The meeting will also lay emphasis on directing fiscal investments for unlocking Pvt financing for energy-efficient and environmentally sustainable infrastructure and mitigating social imbalances.

The IWG meeting, held as part of India's G-20 Presidency, is scheduled for January 16-17 in Pune, Maharashtra, and will bring together forum members, guest countries and international organisations invited by India to discuss the 2023 Infrastructure Agenda.

The meeting is being hosted by the Department of Economic Affairs, and the Ministry of Finance, along with Australia and Brazil as the co-chairs, the official statement of the Ministry of External Affairs read.

The G20 Infrastructure Working Group deliberates on various aspects of infra investments, incl developing infra as an asset class, promoting quality infrastructure investment and identifying innovative instruments for mobilizing financial resources for infrastructure investment.

According to the official statement of the Ministry of External Affairs, the outcomes of the IWG feed into the G20 Finance Track priorities and promote 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.

The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union