Indian Finance Minister P. Chidambaram will visit Moscow on July 19-20 to attend the G20 Finance Ministers and Central Bank Governors’ meeting. He will be accompanied by the Governor of the Reserve Bank of India, Duvvuri Subbarao.
The meeting is expected to focus on ways to deal with the global economic slowdown and corporate tax evasion among other issues. The ministers are also expected to discuss the report of the G20 Framework Working Group on structural reforms’ commitments co-chaired by India and Canada.
The meeting is preparatory to the annual G20 Summit to be held in St. Petersburg on September 5-6.
The Group of 20 (G20) was created in 1999 in response to the financial crises in the late 1990s, the growing influence of emerging market economies, and their disproportionately modest participation in the decision-making process. G20 Leaders met for the first time in 2008 in Washington, D.C.