HYDERABAD: India, heading the G20 this year, said that nations shifting to digital financial transactions should ensure inclusion of those who may not be fully ready to reap the benefits.
Addressing the G20 working group on knowledge and experience sharing for emerging economies of the global south on financial inclusion which started in the city on Saturday, Harsh Vardhan Shringla, chief coordinator, G20 India, said digital payments and transactions currently rest on use of smartphones.
Shringla said there was a need to guard against the digital divide and added that it was imperative to ensure reach out to non-smartphone users who do not have access to the internet.
On the issue of debt resolution in nations that form part of the global south, he said some progress was being made on the language on debt resolution. This could pave way to a mechanism to address this issue.
The focus of the Hyderabad meeting, he said, would also be on looking for a collective strategy to recover from the effects on nations arising from the Covid pandemic, and the crisis in Ukraine, along with food, fuel, and fertilizer shortages. These effect of these two episodes have been felt the world over and on the global economy, he added.
He said Prime Minister Narendra Modi had said that the voices of the global south are that of India’s voice and its priorities are also that of India’s.
The day’s discussions centred around harnessing public digital infrastructure for advancing financial inclusion, and digital innovations among G20 nations for financial inclusion.
