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G20 should play key role in achieving sustained growth: Das

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Press Trust of India New Delhi
India's G20 Sherpa Shaktikanta Das said today that the group of developed and developing nations needs to play an important role in achieving sustained global growth.

The G20 should also ensure that ambitious sustainable development goals (SDGs) are achieved, he said.

"G20 countries have very important role in the current context to ensure that the SDG goals are achieved and revival of world economic growth is sustained," he said at an event here.

A central forum for international cooperation on financial and economic issues, the G20 accounts for more than 80 per cent of the gross world product and is home to almost two-thirds of the world's population.

Das also pointed out that the multilateral lending agency World Bank is constrained in its lending capacity and it is not able to scale up its investments on infrastructure in developing countries.

"What the World Bank invests in India's infrastructure sector, is minuscule portion of India's overall spending requirement on its infrastructure sector," the former economic affairs secretary said.

Noting that world over we are experiencing technological disruptions, Das said: "This calls for greater emphasis on skilling and reskilling of persons."

He said the technological disruptions are entirely transient,adding that it creates perception of job losses in short run but eventually it creates more jobs in medium to long term.

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First Published: Feb 26 2018 | 7:20 PM IST

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