Cryptocurrencies key part of discussion under India's G20 presidency: FM
Cryptocurrencies key part of discussion under India's G20 presidency: FM

NEW DELHI: Finance Minister Nirmala Sitharaman said on Tuesday, April 11, that cryptocurrencies are a very important part of the discussion under India's G20 presidency.

"Considering all the cryptocurrency shocks and failures, We are working to create an international framework to address this issue, " Finance Minister made this statement in Washington while taking part in a roundtable discussion with investors and business executives on the topic of "Investment Opportunities for the Long Term: India on the Rise."
The event  was hosted by industry body Confederation of Indian Industry (CII), US India Business Council and US Chamber.

A diverse set of investors, including top executives, leaders in the private sector, venture capitalists, institutional investors, and representatives of pension and endowment funds, participated in the roundtable.

Sitharaman gave the group an overview of India's path of deliberate policy decisions, structural reforms, and governance changes that created the framework for the Indian economy to enable growth at its maximum potential.

"Free trade agreements are now being signed considerably more quickly. Just now, we finished one with Australia. We already wrapped up with the UAE, Mauritius, and ASEAN. The least developed nations are now included in the regime of no quotas and no tariffs "She said.

The Open Network for Digital Commerce (ONDC) and Account Aggregator platforms, which have made it possible for small business owners to obtain credit and other digital services, were also highlighted by the finance minister as examples of India's solid digital public infrastructure.

She claimed that India offers regulatory predictability, competent labour, and a high rate of digital tech adaptation, leading to a variety of investment options in a world full of post-pandemic issues.

Sitharaman urged the audience to join India's exciting transformational journey towards more wealth, improved living conditions for its people, and larger investment returns.

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