March 28, 2023 1:02 PM

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1st Trade and Investment working group meeting under India's G20 Presidency begin in Mumbai

<span style="color: #222222;">The 1st Trade and Investment working group meeting under India's G20 Presidency began in Mumbai today. During the three-day meeting, over 100 delegates from G20 member countries, invitee countries, regional groupings and international organizations will engage in deliberations to accelerate global trade and investments.<br />''</span><br />''While delivering the key note address at the opening session of the meeting Sunil Barthval, Secretary Department of Commerce & Industry said that 1st TIGW meeting will provide an opportunity to people to understand various aspects of the working areas of G20 meeting. Secretary Sunil Barthval said that many countries are facing recessionary problem. He added that banking sector also looks in stress.  The Secretary mentioned that the trade finance gap is widening.<br />''<br />'' He said, as estimated by ADB, the gap which was $1.5 trillion in 2018 has now increased to $ 2 trillion. He further said that it is the time to deliberate and provide concrete solutions for mitigating the growing trade finance gap.<br />''<br />''<span style="color: #222222;">On the first day, today, an International Conference on 'Trade Finance' is going to be held. This International Conference is being organized by Export Credit Guarantee Corporation of India (ECGC) and India EXIM Bank. The conference will include two sessions highlighting role of banks, financial institutions, development finance institutions and export credit agencies in closing the trade finance gap – a macro view of current trends & future prospects.</span><br />

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