Global growth dampened by inflation, volatility in energy markets: FM
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Finance minister Nirmala Sitharaman raised concerns on dampening global growth momentum at the G20 finance ministers and central bank governors meeting in Washington DC.
The meeting agenda included global economic outlook and risk, international financial architecture and global health, the union finance ministry said in a tweet in early hours today.
"FM Smt. @nsitharaman noted that global growth momentum is dampened by prolonged inflation, supply chain disruption, volatility in energy markets and investor uncertainty," said the finance ministry tweet.
Sitharaman met John Neuffer, president and CEO of the Semiconductor Industry Association, on the sidelines of IMF-World Bank Spring Meetings 2022, at Washington DC.
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As India’s growth story gains momentum and the number of billionaires rises, the country’s luxury market is seeing a boom like never before, with the taste for luxury moving beyond the metros. From high-end watches and jewellery to lavish residences and luxurious holidays, Indians are splurging like never before. Storied luxury brands are rushing in to satiate this demand, often roping in Indian celebs as ambassadors.
FM apprised Neuffer about the initiatives and policies rolled out by the government to attract and support foreign investment in the semiconductor industry, including development of sustainable semiconductor and display ecosystem with an outlay of $10 billion in India, said the tweet from the finance ministry.
FM also met US Secretary of Commerce Gina Raimond in Washington D.C. and discussed ways to strengthen economic cooperation, in the bilateral and global contexts.
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