India for collective action by Global South to deal with current challenges, says Sitharaman

'India reaffirms its steadfast commitment to inclusive, sustainable, and innovation-led development of the global south'

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NEW DELHI: Finance Minister Nirmala Sitharaman on Friday emphasised the need for decisive collective action by the Global South to deal with multiple uncertainties arising out of fiscal constraints in several economies and evolving geopolitical dynamics.

She was speaking at the Annual Meeting of Board Governors of the New Development Bank (NDB) at Rio De Janeiro, Brazil on 'Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South'.

Sitharaman said the meeting is taking place at a defining moment for the Global South, as the world grapples with multiple uncertainties arising from fiscal constraints in several economies, climate transition issues and evolving geopolitical dynamics.