Page 6 - G20

G-20: India working on Russia consensus, keeping eye on other core issues

Communique is a consensus document and needs the consent of every member of G-20

G-20 countries need to tackle global debt, says PM Narendra Modi

Addressing the FMCBG meeting, Modi said the global economy was still suffering from the after-effects of the pandemic and wide-ranging geopolitical tensions

Will oppose any step back from Bali statement on war, says France FM

Under Pillar One of BEPS, multinational enterprises with global turnover above 20 billion euros and pre-tax profit above 10 percent of revenue will have to pay 25 percent of the profit before tax

India can help shape outcomes expected at COP28: UNFCCC executive secy

India and its influential role as the G20 presidency can help deliver a clear political framework and shape the outcomes expected at COP28, UNFCCC Executive Secretary Simon Stiell said here on Friday. G20 countries are responsible for over 80 percent of the world's global emissions. It will be targeted policy decisions in these countries which will provide the market signals to deliver the transformation, he said delivering the valedictory address at the World Sustainable Development Summit (WSDS) organised by The Energy and Resources Institute here. "Over the next 10 months, we have a unique opportunity to provide the course correction the world needs on climate change and make COP28 a transformational moment in what must be a decisive decade. Closing the massive gaps in each of the work areas -- mitigation, adaptation, loss and damage and finance require unprecedented collaboration and support at the highest level. "We look to India and its influential role as the presidency of G2

Will have International Biofuel Alliance before G20 summit: Hardeep Puri

To meet vice president of Guyana, which plans to reallocate key oil blocks, recruit exploration partners

LIVE: MCD standing committee polls to be held on Feb 27, says Delhi mayor

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FM highlights rising debt vulnerabilities in developing countries at G20

Finance Minister Nirmala Sitharaman on Friday highlighted rising debt vulnerabilities in many developing countries and sought views from G20 member nations on 'multilateral coordination' for managing the burden. Speaking at inaugural session of the G20 finance ministers and central bank governors (FMCBG) meeting, Sitharaman also sought views on how multilateral development banks, like the IMF and World Bank, can be strengthened to address shared global challenges of the 21st century, while maintaining a focus on Sustainable Development Goals (SDGs) and poverty eradication. The discussions of the first session of G20 FMCBG meeting focused on issues relating to international financial architecture, sustainable finance and infrastructure. "FM highlighted the rising #DebtVulnerbilities in many vulnerable countries and sought views of the #G20 members on #MultilateralCoordination stating that managing global debt vulnerabilities would be crucial for the world economy," the finance ...

PM Modi flags emerging market debt risk as G20 finance chiefs meet

Modi acknowledged it's not an easy task, but urged the nations to work collectively to strengthen multilateral banks for meeting global challenges like climate change and high debt levels

G20 leaders to gauge toll on global economy on Ukraine war's anniversary

U.S. Treasury Secretary Janet Yellen on Thursday highlighted the improvement, saying the global economy "is in a better place today than many predicted just a few months ago"

JP Nadda calls meeting of BJP leaders on Feb 26 to discuss LS elections

Aiming to discuss the upcoming Assembly elections, 2024 Lok Sabha elections, as well as the G20 preparations, BJP President JP Nadda has called a meeting of all the BJP leaders on Feb 26

Will impose more sanctions on Russia: US treasury secretary Yellen in India

Yellen also met Finance Minister Nirmala Sitharaman for a bilateral meeting on the sidelines of G20

More nations interested in using UPI: RBI deputy governor T Rabi Sankar

Speaking about India's central bank digital currency (CBDC, also known as e-rupee), Sankar said the RBI was looking to expand the use cases for wholesale CBDC

India is 15% of solution G20 is looking for economic growth: Jaishankar

External Affairs Minister S Jaishankar on Thursday said India is "15 per cent of the solution" the G20 is looking for in terms of economic growth and development. He was speaking at the Festival of Thinkers, an event organized by Symbiosis International University here. The minister cited managing director of the International Monetary Fund Kristalina Georgieva's statement that in "otherwise a fairly gloomy global economic scenario" India's GDP base is growing at seven percent and is likely to increase in the coming decade. "Kristalina Georgieva tells that 15 percent of the world's growth this year is going to come from India, that means we are 15 percent of the solution that the G20 is looking for in terms of economic growth and development, but it isn't just growth, the G20 is actually looking at how we handled the COVID challenges," said Jaishankar. India's G20 presidency began in December 2022. The G20 countries have noted India's success in effectively vaccinating its vast .

FM pitches framework to regulate crypto in meeting with G20 ministers

Finance minister Nirmala Sitharaman on Thursday pitched for a global framework to regulate cryptocurrencies, besides firming up ways to tackle global debt vulnerabilities and strengthening multilateral development banks during bilateral meetings with her counterparts, including from US and Japan, ahead of the G-20 meeting. The finance ministers of the G20 countries, which is a grouping of developed and developing nations, are here to participate in the two-day meeting of G20 finance ministers and central bank governors (FMCBG) beginning February 24. Under the G20 Presidency, India will be pressing for a global framework to regulate the cryptocurrencies, ways to tackle the aggravated debt vulnerabilities facing the developing nations mainly on account of the continuing geopolitical tensions and the pandemic. It is feared that if left unaddressed, the mounting debt vulnerabilities of developing nations could trigger global recession and push millions to extreme poverty. The minister

G20 meet expected to address big challenges of digital world: Jaishankar

External Affairs Minister S Jaishankar on Thursday said data security and data privacy are the biggest challenges of the digital world and issues connected to them are expected to be addressed during the G20 meeting. The EAM was addressing the 'Festival of Thinkers' organised by the Symbiosis International University here. Jaishankar said the G20 meeting was taking place at a time when factors like the Ukraine-Russia war, the COVID pandemic and its effects on the world stage had created "multiple layers of stress". Stressing that one of the new factors at play was digital, he said, "We still have not fully appreciated it but digital has changed our lives. Every time you look at the screen, you are learning something but somebody is also learning something about you, your habits, your likes, dislikes, demands, and preferences." Speaking on how power among nations will be determined in the background of digitisation, he said there was a time when wealth and military strength and gold

Russia-Ukraine crisis to have impact on G20 proceedings: EU Ambassador

Europe understands India's position in continuing with procurement of crude oil from Russia and it appreciates New Delhi's overall stand on the Ukraine conflict, Ambassador of European Union Ugo Astuto said on Thursday on the eve of the one-year anniversary of Russia's invasion of the neighbouring country. With India set to host a crucial meeting of the foreign ministers of G20 states after five days, Astuto also said it is not a "business as usual situation" and the crisis will have an impact on the proceedings of the grouping. At the same time, the envoy asserted that the European Union trusts the Indian presidency of G20 to make the proceedings productive in that respect. In an exclusive interview to PTI, the ambassador of the 27-nation European Union said the Indian voice on the conflict is an influential one and that there is appreciation in Europe of Prime Minister Narendra Modi's statement that it is not time for war. "When it comes to G20, inevitably we are not in a ...

At G20 event in Bengaluru, India and G7 differ over using the term 'war'

India is averse to using the term 'war' in relation to Ukraine, and softer terms like 'crisis' are not acceptable to the G7 members

G20: India stresses diplomacy as world marks a year of war in Europe

The FMCBG meeting will look to find lasting solutions to the issue of unsustainable debt in some low- and middle-income nations

Under G20 presidency, 'green growth' priority for India: Bhupender Yadav

India has already submitted its Long-Term Low Emission Development Strategy document at COP 27

G20: IMF, World Bank to convene global debt roundtable in Bengaluru

Georgieva said while 2023 will be another challenging year, it could represent a turning point - with inflation declining and growth bottoming out