Sitharaman underplays lack of consensus on Ukraine at G20 Ministers' meet

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IANS | 04 Mar, 2023
Two days after the G20 Foreign Ministers' meeting failed to adopt a joint communique owing to differences on the Ukraine crisis, Finance Minister Nirmala Sitharaman on Saturday underplayed similar differences which had cropped up during last month's G20 meeting of finance ministers and central bank governors (FMCBG).

Addressing the Raisina Dialogue event, Sitharaman, while describing India as an attractive destination for global businesses, highlighted the rule of law among other factors as an important aspect.

Calling the rule of law an understated factor, Sitharaman said: "We have an elected democratic system, a well-established common law and also courts. Systems exist and there is transparency. Here, you can speak against the government and the Prime Minister... and nobody picks you up and makes you disappear. None of that happens here."

Earlier, during the FMCBG meeting, which was held in Bengaluru last month, a joint communique could not be arrived at, as the Finance Ministers of China and Russia had opposed the inclusion of text condemning the war in Ukraine.

"The Finance Ministers' track at the G20 meeting had about 17 paragraphs, 15 of them were agreed to. Only two paragraphs relating to the Ukraine war were not endorsed by the two countries. On the issue of debt stress, there was complete unanimity," Sitharaman said during the Raisina Dialogue event.

She added that factors like well-trained youth, a middle class with good purchasing power, technology and digital infrastructure in the public space and the rule of law, make India a viable option for investment.