Page 9 - G20 Meet

Australian PM Anthony Albanese to attend G20 summit in Delhi on Sept 9, 10

Australia on Saturday announced that its Prime Minister Anthony Albanese will attend the G20 summit in Delhi on September 9 and 10. The Australian prime minister's visit to India will be part of his three-nation tour. The other two countries that he will be visiting are Indonesia and the Philippines. "From September 9-10, the Prime Minister will attend the G20 Leaders' Summit in New Delhi," the Australian government said in a statement. It said G20 is the world's pre-eminent forum for global economic cooperation and the leaders will focus on navigating the global economy back to strong, sustainable and resilient growth.

Impact of corruption felt most by poor, marginalised people: PM Modi

Prime Minister Narendra Modi on Saturday said the impact of corruption is felt most by the poor and the marginalised people. He said corruption affects the allocation of resources, markets and diminishes the quality of life of people. Addressing virtually the G-20 anti-corruption Ministerial meeting at Kolkata the PM said "India has a strict policy of zero tolerance against corruption." He said Nobel laureate Rabindranath Tagore had cautioned us against greed as it prevents us from realising the truth. Modi said, "We are aggressively pursuing economic offenders. We have enacted the economic offender act and have recovered assets worth over 1.8 billion dollars from economic offenders and fugitives". Modi said at G-20, our collective efforts can significantly support the fight against corruption. "At the G-20 summit in 2018, I had presented 9-point agenda for action against fugitive economic offenders for asset recovery. I am pleased to note that decisive steps are being taken by y

India seeks consensus in G20 for faster extradition of economic offenders

India is seeking a consensus among G20 nations against fugitive economic offenders to ensure their faster extradition and asset recovery, Union Minister Jitendra Singh said here on Friday. Ahead of the crucial G20 anti-corruption ministerial meeting in Kolkata on Saturday, he said economic offences have been a problem faced by many, especially when offenders flee the country's jurisdiction. "All countries are on the same page as far extradition of fugitive economic offenders and recovery of assets are concerned. But different laws of the member states pose a problem in this regard," said Singh, the Union Minister of State for Personnel. He said a consensus is already in the offing for collective and joint action to deal with this menace and deployment of sophisticated technologies is also being explored. "India is seeking consensus among G20 nations against fugitive economic offenders to ensure faster extradition of fugitive economic offenders and recovery of assets, both domestica

G20: FM calls for global efforts to restructure poor countries' debt

Finance minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge. Addressing online a G20 session, organised by the finance ministry and the Reserve Bank here, ahead of the grouping's summit next month in New Delhi, she said multilaterism faces the biggest challenge in recent years. "We haven't seen such enormous challenges in recent years at all". She added that New Delhi has ensured that so far the geopolitical differences do not supersede international cooperation which is the core mandate of the G20 grouping and the summit. The Indian presidency of the G20 has placed great importance on the management of global debt vulnerabilities that many nations are facing today. It's time the international community collaborate and find stronger ways to coordinate in debt restructuring efforts for low-income and vulnerable middle-income countries facing debt .

G20 park, over 100,000 flower pots on streets: MCD's plans ahead of Summit

From developing a thematic park to sprucing up the city with improved amenities, the Municipal Corporation of Delhi has planned to deck up the national capital with just a month to go for the G20 Summit. India assumed the G20 Presidency on December 1 last year, following which about 200 meetings were scheduled under different tracks. The Summit is slated to take place from September 9-10. "We have planned a number of things to spruce up the city and improve civic amenities ahead of the Summit. We are planning to place more than one lakh flower pots at various prominent locations, extra dustbins will be kept in streets to control littering at key location and markets," a top official in the Municipal Corporation of Delhi (MCD) said. The civic body will also develop a 'G20 park' in an existing park to commemorate the G20 Presidency of India, he said. The G20-theme park will be developed in the premises of a park in M-Block of Greater Kailash-2. "This thematic park will have the logo

Explained: Why India is counting on G20 summit to burnish its stature

In the run-up to the G20 summit, the government and the Bharatiya Janata Party (BJP) need to ensure peace in Manipur and show an inclusive face

World's balance sheet should be used to actually push resources: Kant

Prime Minister Narendra Modi's proposal to make the African Union a permanent member of the G-20 has received an overwhelming response from the grouping, India's G-20 Sherpa Amitabh Kant said. In an interview to PTI, the top negotiator said that India was "very hopeful" of the African continental body receiving full membership of the G-20 during New Delhi's presidency of the grouping. Last month, Modi wrote to the leaders of the world's 20 largest economies pitching for giving the African Union full membership of the grouping at its upcoming summit in New Delhi. The proposal was formally included in the draft leaders' declaration at the third G-20 Sherpas' meeting that took place in Karnataka's Hampi from July 13 to 16. The African Union (AU) is an influential organisation consisting of 55 member states that make up the countries of the African continent. The Sherpas held four extensive rounds of discussions during the gathering to give shape to the leaders' declaration to be adop

Third G20 FMCBG meeting fails to endorse report on reforming MDBs

NK Singh, co-convenor of the expert group, however, told Business Standard that at this stage an endorsement was not expected

Delhi Police trains 19 women commandos as 'Markswomen' in view of G20 meet

"Delhi Police will provide utmost security to the visiting delegates. So we are giving training to our women commandos," an official said

Bangladesh to launch 3 infra projects during PM Hasina's India visit

Three projects are namely; Maitree Super Thermal Power Plant-2, 65-kilometre-long Khulna-Mongla Port Railway Link, Akhaura (Bangladesh) and Agartala (India) Railway Link

Top headlines: Adani's bankers at Barclays cautious, Chandy passes away

Business Standard brings you the latest headlines at this hour

Debt restructuring talks at G20 meet hurt by differences, low attendance

The two-day meetings that kicked off on Monday were seen as key to setting the tone for the G20 leaders' summit in September in New Delhi

India has been agent of change, not of status quo: Kant on G-20 presidency

With the UN becoming "unwieldy" and "non-functional", the G-20 has emerged as the most responsive body to address key challenges facing the world and New Delhi has not shied away from bringing all major global issues to the "centrestage" during its presidency of the grouping, India's G-20 Sherpa Amitabh Kant said on Monday. He said India has been acting as an "agent of change" in the G-20 and that it is confident of building consensus to address critical developmental issues such as climate financing, debt vulnerabilities, ensuring progress on sustainable development goals and evolving a framework for digital public infrastructure. In an interview to PTI a day after the conclusion of the third G-20 Sherpas' meeting, he said the Russia-Ukraine conflict is restricted to a certain part of the world and the Indian presidency's focus has been entirely on the developmental agenda and to deal with issues facing the Global South. At the same time, Kant noted that the "present geopolitics" i

G20 FSB releases global guidelines for crypto firms to safeguard investors

"As recent events have illustrated, if linkages to traditional finance were to grow further, spillovers from cryptoasset markets into the broader financial system could increase," the FSB said

G20: Int'l efforts needed to deal with energy insecurity, says Sitharaman

Finance Minister Nirmala Sitharaman on Monday made a strong case for coordinated international efforts to navigate the challenges relating to food, energy insecurity and climate change. In her opening remarks at the two-day meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) here, Sitharaman said the global economic growth is below its long-term average and remains uneven. "... We need ... coordinated international efforts to navigate this challenging period. In this context, the G20 framework Working Group explored the issue of tackling macroeconomic challenges related to food and energy insecurity, and those related to climate change and transition pathways. "The policy lessons that have emerged from these issues clearly underpin the need for enhanced international economic cooperation," the minister said. Quoting Mahatma Gandhi, Sitharaman said "the future depends on what we do in the present." "This statement powerfully conveys the responsibility we have as fin

G20 meet: India, US to explore alternate mechanism to fund renewable energy

India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy." Yellen too in her statement said the US will "look forward to working with India on an investment platform to deliver a lower cost of capital and increased private investment to speed .

From jets to limos, Gandhinagar finds a new place on the world map

Gandhinagar, which is the official city for the finance track, has borrowed forces from the neighbouring districts of Bhuj and Ahmedabad

India's global DPI proposal faces resistance from developed nations

Amid fear of losses for Visa and Mastercard, developed countries have flagged that an interoperable global DPI may affect private players

G-20 finance chiefs to debate war, debt distress and inflation in India

The discussions among the Group of 20 nations come as the war drags on for nearly 17 months, slowing the global economy and keeping policymakers on edge over resurgent inflation and stuttering growth

Third FMCGB meeting to have five thematic areas: DEA secretary Ajay Seth

More than 520 delegates, including ministers, governors deputies, across 66 delegations will be participating in these meetings spread over five days