Page 7 - G20

India to host virtual G20 summit today, Trudeau to attend, Biden to skip

Against the backdrop of the Israel-Hamas conflict, Prime Minister Narendra Modi will chair a virtual summit of G20 leaders on Wednesday which would be attended by the likes of Russian President Vladimir Putin and Canadian Prime Minister Justin Trudeau. With Ottawa confirming Trudeau's participation in the summit, this would be the first time he would come face to face with Prime Minister Modi, albeit virtually, after ties between India and Canada came under severe strain following Trudeau's allegations in September of a "potential" involvement of Indian agents in the killing of Khalistani separatist Hardeep Nijjar on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020. India has rejected Trudeau's allegations as "absurd" and "motivated". While Putin's participation in the virtual meeting has also been confirmed by the Kremlin, China on Tuesday had announced that Premier Li Qiang will attend the virtual G20 Leaders' Summit at India's ...

G20 virtual meet chance to discuss Delhi declaration execution: Kant

A day before Prime Minister Narendra Modi hosts a virtual summit of G20 leaders, India on Tuesday said the meeting will provide an opportunity to discuss the implementation of the Delhi Declaration, enhance cooperation on critical challenges and address gaps in global governance. Addressing a press conference on the summit, India's G20 Sherpa Amitabh Kant said that since the successful hosting of the leaders' summit on September 9 and 10 and the unanimous adoption of the New Delhi Declaration, the world has witnessed succession of events and several new challenges have emerged. He said that while development will be the main agenda of the meeting, the leaders may discuss many other issues. "The virtual summit will provide an opportunity not only to discuss the implementation of the leaders' declaration but also for the leaders to share views and enhance cooperation on critical challenges that we confront and address gaps in global governance, reaffirm our existing commitment to SDGs

India's G20 Presidency advocated solutions from within Global South: EAM

The External Affairs Minister noted that long-standing structural inequities have been seriously aggravated by the devastation caused by the Covid-19-19 pandemic

India ready to share technical capabilities for empowering people: DEA Secy

India stands ready to share its technical capabilities relating to Digital Public Infrastructure (DPI) and knowledge resources for empowering the people of the Global South, Economic Affairs Secretary Ajay Seth said on Friday. G20 Leaders at the New Delhi Summit in September committed to improving access to digital services and digital public infrastructure and leveraging digital transformation opportunities to boost sustainable and inclusive growth. Speaking at the second Voice of Global South Summit, Seth said another focus area of the Indian presidency is the role of technology in social transformation and economic empowerment, particularly in financial inclusion. Relying on India's success story, the G20 policy recommendations for advancing financial inclusion and productivity gains through digital public infrastructure endorsed by the leaders can serve as a valuable guide for rapidly advancing financial inclusion, he said. "The G20 financial inclusion action plan for 2024 to .

G20 virtual summit on November 22 will remain a stocktaking exercise

This will be the first time leaders from the G20 nations will gather twice during the year to assess the progress made since the main meeting

India's G20 presidency gave clear policy direction: FM Nirmala Sitharaman

The Finance Minister said that the current pace of global growth remains quite weak, well below the 3.8 per cent average in the two decades before the pandemic

Food should not become instrument in war, says FM Nirmala Sitharaman

The finance minister urged countries across the world to consider regional balance in sourcing their food supplies, especially staple, and essential products

MDBs should work to increase private financing by $500 bn by 2030: Experts

Multilateral Development Banks (MDBs) should work systematically with the private sector to increase private financing by an additional USD 500 billion by 2030, a G20 expert group has said in a report. The independent expert group on multilateral development banks set up under India G20 Presidency, called for a better, bolder, and bigger MDB system to provide long-term finance to meet physical and social infrastructure needs globally. The second volume of the report 'The Triple Agenda' said the MDBs should work together better as a system. MDBs include the World Bank, Inter-American Development Bank, Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development. The report also suggested that MDBs agree to be held accountable, individually and collectively, on a range of Key Performance Indicators (KPIs) to match the expanded mandate. MDBs should share diagnostic tools, mutually recognise each other's standards and set up shared ...

Best of BS Opinion: Olympian ideals, land leasing needs a sound law & more

Here is the best of Business Standard's opinion pieces for today

Work in progress

Multilateral bank reforms will need more effort

G20 finance ministers and central bank governors adopt crypto road map

Briefing reporters in Marrakesh, Finance Minister Nirmala Sitharaman said the roadmap on crypto assets is the big step forward that came from the FMCBG discussion

MDBs need to shift to informed risk-taking, says G20 group report

Singh said that MDBs have to make their own assessment and putting additional money is not untouchability

World Bank needs headroom to help low-income countries, says G20

Addressing a press conference, Finance Minister Nirmala Sitharaman said the members appreciated the work of the Independent Expert Group (IEG) and welcomed the report

Crypto wrap: Israel-Hamas war ignites sell-off, Ethereum lowest since March

Cryptocurrency news: A higher-than-expected US inflation in September also resulted in a sell-off pressure in the market

Discussion on development goals impossible without peace: Inter-Parl Union

His concerns assume relevance amid a new war that started last weekend between Israel and Hamas, with already conflict stretching for over 19-20 months between Russia and Ukraine

Sharp rise in companies' climate-related risk disclosure: G20 report

A new report from a G20 advisory body highlights significant growth in companies' disclosure of climate-related risks and opportunities between 2020 and 2022. The report, based on Task Force on Climate-related Financial Disclosures (TCFD) recommendations, reveals a 26 per cent increase in companies disclosing their climate-related risks and opportunities, while oversight by company boards in this regard rose by 25 per cent. The Task Force assessed the current state and evolution of climate-related financial disclosures using artificial intelligence technology. It reviewed reports of more than 1,350 public companies over a three-year period fiscal years 2020, 2021 and 2022. Climate-related metrics disclosure led the way with over 70 per cent of companies disclosing the metrics they use. Reporting on greenhouse gas emissions and climate-related targets also showed considerable progress (both at 66 per cent), with a 24 per cent increase in companies reporting on their climate-related

FM Sitharaman meets Brazil's minister, discusses issues of mutual interest

The minister met with Brazil's economy minister Haddad Fernando on the sidelines of the fourth G20 Finance Ministers and Central Bank Governors meeting

PM Modi to inaugurate 9th Parliamentary Speakers' Summit in Delhi on Oct 13

According to the statement, the summit is being hosted at Yashobhoomi by the Parliament of India under the broader framework of India's G20 Presidency

The essentials of G20's corridor initiative

From trade to diplomacy, there is much to commend in the India-Middle East-Europe Corridor

India's election-year challenge

Fiscal consolidation must take precedence in the upcoming Budget, even if it's an interim one