Third meeting of G20 Framework Working Group (FWG) is hosted by India from March 28 to March 29, 2017 at Varanasi, Uttar Pradesh under the G-20 German Presidency. The meeting is co-hosted by Department of Economic Affairs, Ministry of Finance, Govt. of India and Reserve Bank of India (RBI). The meet is arranged to discuss the challenges before the global economy and their possible solutions.
- The meeting was inaugurated by Union secretary of Economic Affairs Mr. Shaktikanta Das and he was the chief guest.
- This was the first time the Framework is taking place outside the New Delhi. The first two FWG meetings under G-20 German Presidency have already been held at Berlin in December 16, 2016 and at Riyadh in Feb 17, 2017.
Nearly 100 high-level officials from G20 member and invitee countries, as well as international organizations such as the World Bank, International Monetary Fund (IMF), International Labor Organization (ILO) and Organization for Economic Co-operation and Development (OECD) will take part in the meeting.
Things discussed in FWG
- The current global economic situation for the development of the G-20 nations.
- Policy options required for the G-20 countries, which they can pursue to counter the important development challenges.
- Clear deliberation about the inclusive growth agenda of G-20 and to formulate a framework that will enable countries to help frame country specific inclusive growth policies.
About Framework Working Group (FWG)
- India, along with Canada, has been co-chairing this group and the Chief Economic Advisor of India Arvind Subramanian holds the role of the Indian co-chair.
- Framework Working Group (FWG) is the core working group within the G20 and it works for resolving challenges faced by the global economy.
- The policy options of this framework can be used for by the countries to address the challenges faced by them.
About Group of 20 nations
Group of 20 (G20) is one of the major multilateral forums of the global economy founded in 1999.
- It includes India, Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States and the European Union (EU).
- Group of 20 works for ensuring policy coordination among the major global economic players.
- Currently, the G20 presidency is with Germany and India is the member G20 since its inception.
G20 summits in future
- The twelfth meeting of the Group of Twenty (G20) summit is to be held at the city of Hamburg, Germany.
- The summit is to be held at 7 and 8 July, 2017.
- In 2018, the summit is to be held at the city of Buenos Aires, Argentina. This is the first-ever G20 summit to be hosted in South America.