As Modi spoke, two Cabinet ministers sat behind him as did senior diplomats and civil servants. National Security Adviser Ajit K Doval -- a regular attendee alongside Modi at such international gatherings -- was intriguingly seated behind the Cabinet ministers and the PM's principal secretary.
The possibility of a meeting between United States President Barack Obama and Prime Minister Manmohan Singh during the G-20 Summit in Los Cabos, Mexico, is not being ruled out, days after the two leaders agreed to work together to address the faltering global economy and the painful Eurozone crisis.
The leaders from the US, UK, France, China and others reached a historic agreement to put the group at the centre of their efforts to build a roadmap for durable recovery, avoiding the financial fragilities that led to the crisis.
Prime Minister Manmohan Singh arrived in New Delhi after attending the G-20 summit in Pittsburg in the US, during which leaders of the world's richest and most influential countries resolved to continue the stimulus for the recession-hit global economy.
The new Cabinet member says growth cannot come unless all sectors of the economy -- agriculture, manufacturing and services -- expand.
Modi regretted that the international response to terrorism was weak and said more cooperation was needed to fight the menace.
As part of its efforts to showcase India's cultural and regional diversity at a global stage, the Modi government has hosted G20 events across the country's length and breadth.
PM Modi to travel to Vietnam before going to China to attend G20 summit.
The G-20, a group of developing countries including India, on Friday dismissed as "unacceptable" a 'blended formula' of tariff reduction in agriculture, proposed by the United States and the European Commission.
The Indian mrime minister supported a new global standard on automatic exchange of tax information
In view of the austerity measures, the Prime Minister's delegation for G-20 Summit in Pittsburg in the US has been pruned a bit. At least two officials and three members of the official media have been dropped from the delegation that will leave for the four-day visit on Wednesday, official sources said in New Delhi on Tuesday.
India is pushing for greater disclosures by credit card companies, fintech firms, and payment aggregators (PAs) at the Financial Action Task Force (FATF), so that the sender and recipient in a cross-border financial transaction can be easily identified and the information shared with law enforcement agencies. Separately, the inter-governmental group, which sets standards to curb money laundering, will release the fourth round of its mutual evaluation report on India on September 19. FATF in June had adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category - the highest rating given by the global watchdog and a distinction shared by only four other G20 countries.
In a statement before leaving for London to participate in the meeting of world leaders to discuss the economic meltdown, Singh also focussed on the need to ensure adequate flows of finances to the developing countries to overcome the reversal of international capital flows.
People everywhere, consumers and investors alike, are cancelling spending plans, because the world economy seems very risky right now. The same thing happened during the Great Depression of the 1930s.
Finance Minister Pranab Mukherjee is likely to oppose suggestions to introduce a financial transaction tax, commonly known as tobin tax.
G20 finance ministers meet in London on Friday to chart the next steps out of the global economic crisis, with calls to curb bankers' bonuses as part of beefed-up financial market rules topping the agenda.
India should push the World Bank to focus on generating ideas and technology.
The White House has asserted that there is a commonality in the agenda of the new Obama administration and the leading G-20 countries on the front of financial crisis, and that the US president is looking forward to the economic summit next week.
New Delhi is illuminated like a shaadi mandap awaiting the arrival of the G20 baraat this weekend.
An influential G-20 alliance, spearheaded by India, Brazil and South Africa, on Monday mounted pressure on rich nations to substantially cut their lavish farm support in the wake of change in the world commodity prices.
United States President Joe Biden is all set to visit India and is 'very excited' about the important initiatives he will be championing at the G20 Summit in New Delhi, according to senior White House officials.
India on Wednesday said it hopes the G-20 nations will pay heed to its call for a strong action on the issue of black money stashed in tax havens during their crucial summit in Cannes.
The world's 20 most important finance ministers and 20 most important central bankers travelled to Washington in April from every part of the globe to accomplish, predictably, exactly nothing.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth.
In retrospect, it appeared that the bitterness of the war was still strong and the Ukrainian success in occupying Russian territory just a few days ago had added to the complexity of the situation. The positive US response to the visit, however, remains a silver lining in the dark clouds, notes Ambassador T P Sreenivasan.
The recent meeting of G20 finance ministers in Washington agreed to set up a surveillance system to monitor the economic performance of countries with the greatest potential for "spillover effects" - the economic impact that extended beyond their boundaries.
The statement said that the global economy is being held back by a shortfall in demand, while addressing supply constraints is key to lifting potential growth.
Defence Ministry spokesperson A Bharat Bhushan Babu said the DRDO never installed any helicopter model in Lucknow.
In his pre-departure statement, PM said he looks forward to the G20 Summit and would like Europe to prosper as "in Europe's prosperity lies our own prosperity".
India and Canada have mutually beneficial political and economic linkages. The two countries should get together and find a solution. The expulsion war should, in the meantime, be a guarantee against any deterioration of the situation, asserts Ambassador T P Sreenivasan, the first Indian head of mission to be ever expelled by any country.
The summit in Korea, Ahluwalia pointed out, was the first to be held in a newly developed nation, as well as in Asia, home to many emerging nations. With the financial crisis that necessitated the meeting of minds in 2008 a thing of the past, Korea is keen to bring development to the forefront.
Ukrainian President Volodymyr Zelenskyy told the United Nations Security Council that 'we have to prepare' the second peace summit to end the Russia-Ukraine war 'altogether' and he has invited India and other countries to join the peace process.
India no longer needs big ticket reforms but small and basic ones to drive the growth forward, Chief Economic Advisor V Anantha Nageswaran said on Monday. Addressing the media after the Economic Survey 2023-24 presented in Parliament, Nageswaran said there is a need to pursue all possible approaches without any ideological orientation. "In terms of the kind of reforms that we need to do, it is no longer big-ticket reforms that dominate your front pages but more about grunt works.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
Discussing the issue threadbare, the leaders of the developed and fast developing economies declared that though the financial sector should make a fair and substantial contribution towards paying for any bailouts, policy should take into account each nation's 'circumstances and options.'
Although as per the IMF-OECD estimates, an incremental growth of 1.8 per cent in global GDP is achievable
Recognising the risk of economic slowdown and weakening trade posed by protectionism, the G-20 has decided to extend until the end of 2016 its standstill commitment to further progress in removing barriers and impediments to global trade and investment. In a 27-page declaration adopted at the end of the two-day Summit in Moscow, the group of 20 industrialised and major emerging economies also reaffirmed its commitment to roll back new protectionist measures. "With these commitments, we stress the importance of further curbing protectionism through the WTO," the G-20 Leaders' Declaration said. The G-20 called on all WTO members to show the necessary flexibilities to bridge existing gaps and deliver positive and balanced results at ninth WTO ministerial conference in Bali in December on trade facilitation and some elements of agriculture and development issues. "This would be a stepping stone to further multilateral trade liberalisation and progress in Doha Development Agenda negotiations, providing new confidence in successful post-Bali negotiations," the declaration said. The declaration committed itself to cooperate to ensure that policies implemented to support domestic growth also support global growth and financial stability and to manage their spillovers other countries. The Summit also shared Prime Minister Manmohan Singh's views on the need for orderly exit from the monetary stimulus undertaken in the context of 2008 economic crisis. "In the five years since we first met, coordinated action by the G-20 has been critical to tackling the financial crisis and putting the world economy on a path to recovery. "But our work is not yet complete and we agreed that it remains critical for G-20 countries to focus all our joint efforts on engineering a durable exit from the longest and most protracted crisis in modern history," the declaration said. It noted that the most urgent need is to increase the momentum of the global recovery, generate higher growth and better jobs while strengthening the foundations for long term growth and avoiding policies that could cause the recovery to falter or promote growth at other countries' expense.
Prime Minister Narendra D Modi was rather selective about his famous hugs when he encountered his G20 guests at Bharat Mandapam on Saturday, September 9, 2023, morning.
From India's neighbourhood and extended neighbourhood, presidents of Sri Lanka, the Maldives, Iran, Seychelles and prime ministers of Nepal, Bangladesh, Bhutan, Myanmar, Mauritius have sent congratulatory greetings to Modi.
