Finance Minister Nirmala Sitharaman has said the ongoing trade wars and protectionism have generated uncertainties and will ultimately impact the flow of capital, goods and services.
She also called for “concerted action” to mitigate the disruption on account of synchronous slowdown and to invoke the spirit of multilateralism for global growth, the Finance Ministry said.
Leading the Indian delegation to the Annual Meetings Plenary session of the IMF and the World Bank Group held in Washington DC on Friday, Sitharaman stressed that the increased trade integration, geopolitical uncertainties, and high accumulated debt levels necessitate strong global coordination.