Explore Business Standard
The US has said it will steer the G20 back to its "core mission" of driving economic growth and prosperity by prioritising regulatory reform, energy security and technological innovation during its year-long presidency of the grouping. America assumed the G20 presidency on December 1. The State Department in a statement on Monday said under President Donald Trump's leadership, the US will "return the G20 to focusing on its core mission of driving economic growth and prosperity to produce results". As we usher in these much-needed reforms, we will prioritise three core themes: unleashing economic prosperity by limiting regulatory burdens, unlocking affordable and secure energy supply chains, and pioneering new technologies and innovations, it said. The US will host the G20 Leaders' Summit in Miami, Florida, in 2026, coinciding with the country's 250th anniversary year. America took over the presidency from South Africa, but Trump did not attend the Johannesburg Summit held last mon
President Donald Trump said Wednesday that he is barring South Africa from participating in the Group of 20 summit next year in Miami and will "stop all payments and subsidies" to the country over its treatment of a US government representative at this year's global meeting. Trump chose not to have an American delegation attend the recent summit hosted by South Africa, saying he did so because white Afrikaners were being violently persecuted -- a claim that South Africa, which was mired for decades in racial apartheid, has rejected as baseless.
Prime Minister Narendra Modi on Monday returned to India after a three-day visit to South Africa for the G20 and IBSA meetings. At the G20 Leaders Summit, Modi called for a global compact to prevent misuse of artificial intelligence and made a strong pitch for critical technologies to be human-centric, instead of finance-centric. At the India-Brazil-South Africa leaders meeting, the prime minister said the reform of the UN Security Council was no longer an option, but a necessity and asserted that the troika should send a clear message for changes to institutions of global governance. "The successful Johannesburg G20 will contribute to a prosperous and sustainable planet," Modi said in a post on X on Sunday. "My meetings and interactions with world leaders were very fruitful and will deepen India's bilateral linkages with various nations. I'd like to thank the wonderful people of South Africa, President Ramaphosa and the Government of South Africa for organising the Summit," Modi .
G20 leaders have committed to engaging constructively to address concerns regarding global minimum tax and tax challenges arising from digitalisation of the economy, while preserving the tax sovereignty of all countries. In a declaration issued after the G20 Summit in South Africa, leaders of 20 developing and developed nations also called for a new OECD framework that will enable interested jurisdictions to strengthen international tax transparency on immovable property on a voluntary basis. "We will continue engaging constructively to address concerns regarding Pillar Two global minimum taxes, with the shared goal of finding a balanced and practical solution that is acceptable for all as soon as possible," said the G20 Summit declaration. The Organisation for Economic Cooperation and Development (OECD)'s pillar 2 initiative sets a minimum tax rate of 15 per cent for every country that is signatory to it. There are concerns that the US domestic tax rules might conflict with this ne
The heads of state attending the G20 Leaders' Summit in Johannesburg on Saturday adopted a Declaration by consensus despite US attempts to stop it. It is a great moment for us because we believe that this will revolutionise the (African) continent, South Africa's Minister of International Relations and Cooperation Ronald Lamola said on host broadcaster SABC, calling the Declaration as an affirmation of multilateralism. Generally, the adoption of the Declaration happens at the end of the Leaders' Summit. This time it happened at the start of the meet. The Declaration has been negotiated and agreed upon by the Sherpas that needed to agree on (it). The various leaders who are here have been briefed by their Sherpas on what is in the Declaration, so there was nothing that stops us from putting the Declaration forward for adoption by the leaders who are in the first segment of this (two-day) meeting, Lamola said about the unusual step of adopting the Declaration early in the start of the
India on Saturday proposed a G20 critical minerals circularity initiative to promote recycling, urban mining, second-life batteries and related innovations, with Prime Minister Narendra Modi asserting that the country is fully committed to sustainability and clean energy. In his address at the second session at the G20 Summit in Johannesburg, he also proposed setting up of a G20 Open Satellite Data Partnership whereby satellite data and analysis from G20 space agencies can be made more accessible for countries of the Global South. He shared the broader points from his speech, in a series of posts on X. The second session was on A Resilient World --- the G20's Contribution: Disaster Risk Reduction, Climate Change, Just Energy Transitions, Food Systems. The second session at the G20 Summit in Johannesburg focussed on building a resilient world in the face of disasters, climate change and ensuring energy transitions that are just as well as robust food systems. India has been actively
Prime Minister Narendra Modi on Saturday had an engaging exchange on different issues with multiple world leaders here and said they together reaffirmed shared commitment to global progress and prosperity. Modi met his British counterpart Keir Starmer, Malaysian Prime Minister Anwar Ibrahim, French President Emmanuel Macron, South Korea's President Lee Jae-myung, Brazilian President Luiz Inacio Lula da Silva and UN Secretary-General Antonio Guterres on the sidelines of the G20 Leaders' Summit hosted by South Africa. It was wonderful meeting Prime Minister Keir Starmer in Johannesburg. This year has brought new energy to the IndiaUK partnership and we will keep driving it forward across many domains, Modi said in a post on X. Modi said he had a great exchange of views with Prime Minister Ibrahim and added that India and Malaysia will continue to work together to diversify bilateral cooperation. He said he was delighted to meet President Macron, with whom he had an engaging exchange
Acknowledging the impact of rising geopolitical and geo-economic competition, a Declaration adopted at the G20 Leaders' Summit here on Saturday confirmed that solidarity, equality and sustainability are key pillars of inclusive growth. Energy security, climate action and disaster resilience and response too was prominently mentioned in the text of the Declaration that was adopted by the heads of state attending the Summit by consensus despite US attempts to stop it. We understand our interconnectedness as a global community of nations and reaffirm our commitment to ensure that no one is left behind through multilateral cooperation, macro policy coordination, global partnerships for sustainable development and solidarity, the Declaration read. The 39-page document acknowledges the impact of rising geopolitical and geo-economic competition and instability, heightened conflicts and wars, and deepening inequality increasing global economic uncertainty and fragmentation. In the face of
South African President Cyril Ramaphosa on Saturday described disparities in wealth and development within and among countries as unjust and unsustainable, calling them one of the biggest impediments to global growth as he opened the G20 Leaders' Summit here. In his address to some 40 heads of state, including Prime Minister Narendra Modi, gathered in Johannesburg, Ramaphosa also underscored the need to dismantle divisions based on economic status, gender, race and geography to ensure a sustainable future. "It is essential that we break down divisions of economic status, gender, race and geography. Sustainability involves meeting the needs of the present without compromising the ability of future generations to meet their own needs, he said. The President said as a founding member of the G20, South Africa has sought to ensure that the development priorities of the Global South and the African continent find expression firmly and permanently on the agenda of the G20. This is importa
Prime Minister Narendra Modi arrived in Johannesburg on Friday to attend the G20 Leaders' Summit being held under South Africa's Presidency. Modi arrived at Waterkloof Air Force Base (AFB) in Gauteng, where he was accorded a traditional welcome. He was greeted by artists who performed cultural song and dances. This is the first G20 Summit being held in Africa. The African Union became a member of the G20 during India's presidency in 2023. On the margins of the summit, the prime minister is expected to hold bilateral meetings with some of the leaders present in Johannesburg. He will also attend the 6th summit of IBSA - a trilateral grouping of India, Brazil and South Africa. "Will be attending the G20 Summit in Johannesburg, South Africa. This is a particularly special Summit as it is being held in Africa. Various global issues will be discussed there. Will be meeting various world leaders during the Summit," Modi posted on social media before departure. "I will present India's ...
South Africa has decided not to hand over the annual G20 Presidency to a junior US official at the end of the leaders' summit, even as a White House official cautions Cyril Ramaphosa over running his mouth against the US and President Donald Trump. South African President Ramaphosa adopted a reconciliatory approach on Thursday evening after the US requested accreditation for an eight-member team led by US charg d'affaires, Marc Dillard, to receive the baton on Sunday. However, late on Thursday evening, Ramaphosa's spokesman, Vincent Magwenya, posted a message on social media, saying the president will not hand over the G20 Presidency to a junior official. The President will not hand over to a charg d'affaires. It's a breach of established protocol. No head of state and government anywhere in the world would do it, Magwenya told local media. There was also anger in South Africa about remarks by White House Press Secretary Karoline Leavitt, which analysts said was a breach of protoco