Press Release

The 2nd Trade and Investment Working Group Meeting begins in Bengaluru

Under India’s G20 Presidency, the 2nd meeting of the Trade and Investment Working Group (TIWG) began in Bengaluru on May 23, 2023, Tuesday. On the first day of the meeting deliberations on technology reshaping business and the role of technology in driving inclusive growth took place. The three-day meeting will see participation of over 75 delegates from G20 member states, invitees, regional groupings, and international organizations.

On the first day of the 2nd TWIG meeting, a seminar on Business and Technology was organized, in which topics such as technology reshaping business and the role of technology in driving inclusive growth were discussed. Further, two panel discussions were also organized as a part of the meeting.

The Union Minister of State for Commerce and Industry, Som Prakash inaugurated the seminar. While speaking on the occasion, Shri Som Prakash expressed hope that, “the 2nd meeting of the Trade and Investment Working Group would work towards breaking down barriers to international trade for a better future and shared prosperity.” The minister added, “Representatives of industry, academia, R&D organizations, and government officials will work together to remove barriers and challenges in global trade.”

Secretary, Department of Commerce, Sunil Barthwal used this occasion to highlight India’s newly launched ‘Indian Foreign Trade Policy’. He highlighted how India's Foreign Trade policy emphasizes on e-commerce and the country is committed and at the forefront of promoting digitization of the economy, by introducing Direct Benefit Transfer and linking Aadhaar with bank accounts and mobile phones.”

On the sidelines of the meeting, a cultural program was also organized for the G20 delegates. Over the next two days, the 2nd TWIG meeting will hold deliberations on various topics related to global trade. WTO reform, which remains a key priority for India's G20 presidency, will be a focal point during the technical session scheduled for May 24.

The Union Minister of State for Commerce and Industry, Smt. Anupriya Patel will be participating on May 24. The first TIWG meeting was held in Mumbai in March 2023