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India urges G20 to find ways to shrink widening trade finance gap

March 29, 2023

India urges G20 to find ways to shrink widening trade finance gap
The first G20 Trade and Investment Working Group (TIWG) meeting under India’s Presidency started in Mumbai on Tuesday with Sunil Barthwal, Secretary, Department of Commerce emphasising the need for trade finance cooperation among member countries to help reduce the widening trade finance gap.

“Trade finance gap is widening.” Mr. Barthwal said, speaking at the International Conference on ‘Trade Finance, organised by the Export Credit Guarantee Corporation of India (ECGC) and India’s EXIM Bank. “As estimated by ADB, the gap which was $1.5 trillion in 2018 has now increased to $2 trillion,” he added.
 
Delegates from the member countries, industry and academic experts from across the world attended the conference aimed at furthering an exchange of ideas in the domain of trade finance.
 
Observing that it was the right time to discuss the issues facing trade finance, the Commerce Secretary underscored the importance of finding the right solutions.
 
On among G20 member countries in addressing the growing shortfall in trade financing.
The first G20 Trade and Investment Working Group (TIWG) meeting under India’s Presidency started in Mumbai on Tuesday with Sunil Barthwal, Secretary, Department of Commerce emphasising the need for trade finance cooperation among member countries to help reduce the widening trade finance gap.
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