Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
- India will hold a global meet on investments into its tourism sector and a conference on business tourism next year, cashing in on its G-20 presidency which begins from December.
- The investment meet would be held in Delhi in January-February and the participants would include stakeholders in tourism from all G-20 countries, financial institutions, State tourism departments and representatives of Central government Ministries.
- A separate conference on MICE tourism (meetings, incentives, conferences and exhibitions) would be held in April in Bangalore, an official in the Tourism Ministry told The Hindu.
- The focus of global investments in tourism sector is on the hospitality industry, but through this conference we will seek to explore fund flow into theme parks, adventure tourism, amusement parks and skiing destination infrastructure.
- At DefExpo, India to pitch military tools to Africa, IOR countries
INDIA AND G20
- India’s presidency of the G20 grouping next year arguably the sole remaining effective forum for global governance presents an enormous opportunity to accelerate sustainable growth within India, in the emerging world, and beyond.
- Formed in 1999, the G20 is an international forum of the governments and central bank governors from 20 major economies.
Features
- Collectively, the G20 economies account for around 85 percent of the Gross World Product (GWP), 80 percent of world trade.
- To tackle the problems or the address issues that plague the world, the heads of governments of the G20 nations periodically participate in summits.
- In addition to it, the group also hosts separate meetings of the finance ministers and foreign ministers.
Objectives
Stability: The Group was formed with an aim of studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability.
Fiscal responsibilities: The forum aims to pre-empt balance of payments problems and turmoil on financial markets by improved coordination of monetary, fiscal, and financial policies.
Universal Support: The forum seeks to address issues that go beyond the responsibilities of any one organisation.
India G20 leadership
- At some levels, India is ready.
- Indian business and industry is becoming a noteworthy competitor globally.
- The country’s domestic economy is starting to pick up, thanks to structural economic reforms.
- The central government is economically stronger, and the states are starting to learn about economic independence, making them more aligned with their global counterparts.
SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB
