FM Nirmala Sitharaman On 2-Day Visit To Japan For Crucial G7 Meeting

FM Nirmala Sitharaman will participate in a roundtable meeting with business leaders & investors, a directive to the importance of economic diplomacy.

Nirmala Sitharaman, the Finance Minister of India, is in Niigata, Japan, for a two-day official tour. On May 12 (Friday), she will participate in a ‘dialogue with associate countries’ in the island nation.

During the course of her stay in Japan, FM Sitharaman will prioritize two crucial duties. The initial multilateral and bilateral conversations with her international counterparts. 

The second objective of the Finance Minister will be to take part in a roundtable with business leaders and investors, a demonstration of the significance of economic diplomacy.

This time around, the G7 Finance Ministers and Central Bank Governors are convening against the backdrop of the US debt ceiling impasse. 

US President Joe Biden seeks to increase the allowance limit before the government defaults on its loan.

The United States is an essential G7 member alongside Canada, France, Germany, Italy, Japan, and the United Kingdom.

G7 is a forum for key industrial nations to discuss economic and financial issues. Since 1987, the International Monetary Fund (IMF) reports that the G7 finance ministers and central bank governors have met at least every six months.

Sitharaman was greeted at Haneda Airport in Tokyo by Sibi George, the Indian ambassador to Japan and the Marshall Islands.

During her visit, she also interacted with the Indian community in Japan. Sitharaman conferred with Tokyo Tamil Sangam officials, including members of the Tokyo Tamil community.

The 27th meeting of the Financial Stability and Development Council (FSDC) was convened by Sitharaman on May 9. In the past, she had requested that regulators initiate a special campaign to recover unclaimed bank and financial institution deposits. 

The Indian Finance Minister Nirmala Sitharaman had also mentioned in the meeting that financial stability was a shared responsibility.

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