The upcoming G-20 Summit in London is the first major international exposure of Barack Obama as the US President, wherein he is likely to discuss with the leaders the ways and means to counter the global economic crisis.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
India said that "a range of issues" were discussed by the two leaders.
Prime Minister Manmohan Singh on Saturday left for a eight-day tour of Mexico and Brazil to attend the G-20 and Rio+20 summits.
The two sides held discussions on enhancing investment in technology, renewable energy and food security.
India and the US are engaged in Geneva, the WTO headquarters, to sort out the food stockpiling issue and end the stalemate.
The meet will focus on the recent global economic developments, challenges and collective measures to address them
Instead of targeting global imbalances per se, the narrative must change to the structure and direction of such asymmetries.
G20 summit noticeably lacked in responses to illicit financial flows, one of the largest drags on development worldwide
The US ended up abstaining from the vote for its own resolution at the General Assembly after several amendments were passed ahead of the vote to strengthen the language against Russia and reaffirm Ukraine's territorial integrity.
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.
Influential world leaders on Thursday braced for a showdown at the G20 summit over an imminent US-led action against Syria, as United States President Barack Obama's plan to launch military strikes cleared the first hurdle with a key Senate committee narrowly approving it.
RBI Governor Raghuram Rajan will also participate in the meet.
The prime minister said a stable global economic and financial system is imperative for growth as it promotes inclusive and sustainable growth.
Addressing a G20 Summit session, Modi also presented his '5-I' vision to maximise digital technology for social benefit.
Modi said the world today listens to India, which not only presents its own views strongly but also those of the Global South.
The G20 must also take overdue sanction on transparency, by delivering an exhaustive and objective list on non- cooperative jurisdictions, backed up with the promised sanctions.
Modi held several bilateral and trilateral meetings with world leaders.
Ahead of the G-20 Summit, Planning Commission Deputy Chairman Montek Singh Ahluwalia will lead a delegation to a preparatory meet on March 11 in London where deliberations on issues like liquidity crunch and reforms in international financial institutions are likely be taken up.
Trump telephoned Modi to congratulate him on the historic electoral victory in the Lok Sabha polls, the White House said.
It would be futile to believe G-20's promises to rein in monetary and fiscal policies
This week's Group of 20 meeting already has a packed agenda: maintaining demand, repairing the global financial system and increasing the International Monetary Fund's resources.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
'For the Indian economy to maintain a growth rate of 7 to 8 per cent, it needs large foreign direct investment coming in, and that's mainly coming from the US.'
'If you compare the data from 2017 and 2023 of the US imports from the world and China, you will see that the US was a complete loser in the trade war, and China was a complete gainer.'
We need to take special steps to provide resources to the developing countries.
Foreign leaders who witnessed it later commented privately on the oddity of an American president flaunting such a close rapport with his Russian counterpar
Dr Singh told a galaxy of world leaders who attended the one-day summit on the global economic crisis that there was a need for a credible system of multilateral surveillance that can signal the emergence of imbalances.
China's Ambassador to India Luo Zhaohui said the event was just the first step in Sino-India cooperation on Afghanistan and collaboration will deepen in future.
Developing countries' coalition G-20 on Tuesday upped the stakes by circulating proposals to arrive at "balanced solutions" on some of the most difficult and unresolved issues of the Doha agriculture mandate.
Commerce and Industry Minister Kamal Nath left for Geneva on Wednesday to attend a meeting of the G-20 alliance which will make renewed efforts to work out a global trade deal on the Doha Round of WTO negotiations.
The G20 chair has suggested three areas for the talks in Argentina - the future of work, infrastructure for development and a sustainable food future, areas where India has a lot at stake.
During the two-day Summit in St Petersburg attended by the world's top leaders including US President Barack Obama and host Vladimir Putin, Singh declared that India has been affected by currency volatility in the past few weeks and was taking steps to finance the current account deficit in an environment that is seen to be friendly for stable foreign capital flows.
Union Home Minister Amit Shah has asserted that the Narendra Modi government has "almost all" completed its ideological tasks, including the abrogation of Article 370, and will continue on the same path in its third tenure. Shah, a senior BJP leader, was speaking at the Hindu Spiritual & Service Fair in Gujarat, where he highlighted the government's achievements in areas such as the Ram Temple construction, abolition of triple talaq, and the implementation of the Uniform Civil Code (UCC) in Uttarakhand. He also emphasized the government's success in promoting Yoga internationally and repatriating stolen idols of Hindu deities. Shah lauded Hindu temples and organizations for their service to society, especially their contributions to education and healthcare for the poor.
User protection and a proposal for a licensing framework for companies seeking to operate in the cryptocurrency area will be part of an upcoming consultation paper on the sector, said a senior industry executive. Even as specific regulations around crypto are yet to take shape, companies are setting up baseline user protection processes, including a redressal mechanism, fraud detection, regular filing of suspicious transaction reports (STRs), among others.
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
