'To get a 100 per cent consensus document without any reservation, any bracket, any chair summary is unprecedented in the history of multilateral forums.'
IMF, which has also lowered its global economic growth forecast for 2016 and 2017 by a marginal 0.1 per cent to 3.1 and 3.4 per cent respectively, recommended six 'reform priorities' for India
Modi emphasised that it was necessary to work together for sustained global economic recovery.
Foreign Secretary Vinay Kwatra on Wednesday refused to speculate on whether the G20 foreign ministers' meeting would be able to come out with a joint communique against the backdrop of widening differences between the West and Russia on the Ukraine conflict.
India tops this list, with 3.7 million deaths, and China comes a close second with 2.8 million deaths. In all the four scenarios outlined, India tops China in the number of fatalities. Scenario 6 is the worst, and predicts more than 16 million deaths in India and 12 million in China.
India has been at the forefront of efforts at the UN to push for urgent long-pending reform of the Security Council, emphasising that it rightly deserves a place at the UN high table as a permanent member.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
The host country has been pressing for a discussion at the 10th G20 Summit on the conflicts in Syria and the worst migrant crisis since World War II.
Prime Minister Narendra Modi and US President Joe Biden are set to hold bilateral talks on Friday evening with a focus on further solidifying the India-US comprehensive global and strategic partnership.
Kv Kamath has big plans as BRICS Bank chief.
Inflation is down and there's every chance that crude prices will be subdued through the next year.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
The leaders of the five emerging market economies are expected to sign a deal on Tuesday that creates the $100 billion bank and a reserves fund of the same size to challenge Western dominance over global finance.
Narendra Modi's engagement at the upcoming BRICS Summit in Brazil will be keenly watched as the prime minister will interact with some of the world's most powerful leaders. The summit to be held in Fortaleza will also see the launch of the significant BRICS bank whose idea was mooted by India. Rediff.com's Sheela Bhatt gives a lowdown on Modi's first major international rendezvous.
The G20 meeting of the finance ministers and central bank governors beginning July 19 will also be attended by Reserve Bank of India Governor D Subbarao and Deputy Governor Urjit Patel.
The exhibition of artefacts -- in physical and digital formats -- will be done on the same floor level where the leaders' meetings will take place, and they will walk through this 'cultural corridor' while moving into and out of the summit room, official sources said.
India needs to strengthen its economic growth, says IMF.
Borrowing from BRICS bank will help India avoid other kinds of politics emanating from the West. Overall, the BRICS institutions will necessarily adopt alternative ways of doing things based on their own cultural and socio economic needs, says M K Venu.
The African Union on Saturday joined the G20 after all member countries accepted Prime Minister Narendra Modi's proposal to bring the key bloc of the Global South to the high table of the world's top economies, a major diplomatic achievement of India's presidency.
Macron's office said the President will travel to Delhi to participate in the G20 Summit on September 9 and 10 following which he will leave for Bangladesh for a bilateral visit.
India is keen on the issue of equal share holding since it doesn't want a repeat of the distortions that have crept into Bretton Woods institutions like International Monetary Fund, World Bank and the Asian Development Bank in which rich countries like the US and Japan have a strangle hold.
India's dream to be in the forefront of international politics has come true. India has placed itself firmly as a major player in the shaping of a new world order, observes Ambassador T P Sreenivasan.
A sumptuous meal of Dal, Bati, Churma or Jodhpuri Kabuli pulao, followed by a lip-smacking dessert of Bikaneri ghevar or Jodhpuri mawa kachauri.
Aseem Chhabra watched some great films and some huge disappointments in 2021.
India maintained 43rd rank on an annual World Competitiveness Index compiled by the Institute for Management Development (IMD) that examined the impact of COVID-19 on economies around the world this year. The 64-nation list was led by Switzerland, while Sweden has moved up to the second position (from sixth last year), Denmark has lost one place to rank third, the Netherlands has retained its fourth place and Singapore has slipped to the fifth place (from first in 2020). At eighth, Taiwan reached the top-10 for the first time since the ranking began 33 years ago (moving up from 11th last year).
The BRICS also called upon all nations to adopt a comprehensive approach in combating terrorism including countering radicalisation and blocking terror financing sources.
The IAF has already set up a dedicated operations direction centre for coordinating various aspects of the arrangements with security agencies concerned, they said.
Prime Minister Narendra Modi had informal interactions with US President Joe Biden, UK Prime Minister Rishi Sunak, French President Emmanuel Macron and several other global leaders on Tuesday on the sidelines of the G20 summit in Bali and exchanged views on a range of issues.
Tata companies perform well while major firms in emerging markets do badly.
The G20 declaration, which hit snags on the language to describe the Ukraine war, amounted to a 'coup' for host Prime Minister Narendra Modi though the final compromise statement reflected a stand far softer than those the United States and its Western allies have adopted on Russia, the world media said on Sunday.
It's a packed 5-nation, 9-day, visit for Prime Minister Modi as he heads to Uzbekistan, Kazakhstan, Kyrgyzstan, Turkmenistan and Tajikistan, apart from Ufa in Russia.
'The World Cup is being played in the football crazy country after 64 years and nothing excites the Brazilians more than the sacred game,' says B S Prakash, India's former ambassador to Brazil.
'The MEA, hopefully, made it clear that the Indian PM can't be seen in Xi Jinping's company when China has, for all intents and purposes, annexed over 1,000 sq kms of Indian territory in eastern Ladakh, and essentially that the Wuhan spirit and the Mamallapuram spirit have turned into vinegar.'
"Have just got the good news that due to the hard work of our teams and your cooperation, a consensus has been reached on New Delhi G20 Leaders Summit Declaration," Modi said while addressing the second session of the Summit at the Bharat Mandapam in New Delhi.
The Doha Round of talks of the World Trade Organisation (WTO) faces a new challenge and if some statements emanating after the General Council meeting on July 25 at Geneva are to be taken at face value, this could derail the process of trade liberalisation through a multilateral route for some time.
China, at 28, remains by far the most competitive of this group.
Modi said India and Russia have been friends for a long time and thanked Putin for inviting him for the first-ever informal meeting at Sochi.
The BRICS model will need to demonstrate the efficacy of a second alternative governance structure to reform the Bretton Woods legacy.
The country has a long way to go before it claims to have arrived, he said.
The talks took place on the sidelines of the G-20 foreign ministers' meeting in the Indonesian city of Bali.
