Muthuraman to co-chair finance committee at B20 summit

November 1st, 2011 - 8:11 pm ICT by IANS  

New Delhi, Nov 1 (IANS) Confederation of Indian Industry (CII) chairman B. Muthuraman would co-chair the working group on financial regulation at the B20 meeting to be held in Cannes, France, Thursday and Friday, a statement said.

The B20 summit is part of the G20 summit in which presidents of the business confederations of the member countries and 120 chief executives of global companies meet to work on recommendations to be presented to the leaders.

“Since financial regulation is a key preoccupation of G20, the working group on financial regulation, to be co-chaired by Muthuraman, would be a priority area of the B20 meeting,” the CII said in a statement.

According to the statement, CII vice president S. Gopalakrishnan will co-chair the working group on innovation and information communication technology (ICT).

“The working group to be co-chaired by Gopalakrishnan has recommended implementation of consistent long-term policies to foster innovation, with decisions to be taken in public-private partnership mode,” it added.

Both Muthuraman and Gopalakrishnan will meet French President Nicolas Sarkozy Wednesday.

B20 has suggested to the G20 leaders to address the risk of fragmented markets, the need for framework for financial innovation and to focus on the quality of accounting standards.

The 2010 B20 summit was held in Seoul, South Korea.

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