Shaktikanta Das said although the outlook for the global economy has improved in recent months and there is now greater optimism that the world may avoid a deep recession and only experience ofter recession,"yet uncertainties lie ahead of us.

Prime Minister Narendra Modi urged global financial leaders to focus on the world's "most vulnerable citizens" as he inaugurated a G20 meeting on Friday, the first anniversary of Russia's invasion of Ukraine.

Global finance leaders will tally the economic damage from Russia's war in Ukraine on Friday as they meet on the conflict's first anniversary with some voicing concerns that more sanctions on Moscow would disrupt a modest improvement in growth.