G20 Economies

'UN keen on furthering MDB reforms initiated during India's G20 Presidency'

UN Secretary-General Antonio Guterres is keen on continuing the momentum of Multilateral Development Banks (MDB) reforms initiated during the G20 presidency of India, Chairman of the 15th Finance Commission N. K. Singh has said. Singh, who had met Guterres at the UN headquarters in New York on April 12, said he had a positive interaction with the UN chief. Deputy Secretary General Amina Mohammed was also present during the meeting. Guterres was very keen on continuing the momentum of MDB reforms initiated during India's G20 Presidency and as contained in the 2 Vol. IEG Report, Singh said in a post on X, referring to the report of the Independent Expert Group. Singh said the report had been accepted by the G20 and, therefore, had ongoing traction. Guterres said that the UN would endeavour to keep this item high on the agenda for the Summit of the Future in September and thereafter in the Summit on Financing for Development in June 2025, Singh said. The ambitious Summit of the Futu

World economy's great escape worries G-20 amid surging geopolitical risks

IMF chief Kristalina Georgieva has signaled that the fund will also slightly raise its forecast, to be released Tuesday, from the current 3.1 per cent

Amitabh Kant calls for 25 mn job creation by 2030 in hospitality industry

India's G20 Sherpa Amitabh Kant on Monday asked hospitality and tourism sector players to tell politicians about creation of 25 million jobs by 2030 while seeking their help for the demand of industry and infrastructure status. Speaking at the 6th Hoteliers' Conclave organised by the Hotel Association of India (HAI), Kant said somehow the tourism industry has failed to tell the politicians that it is a big creator of jobs, while agreeing with their demand for industry status. "If you look at tourism, I think from a perspective of a political lens, the politician only understands one thing and that is how many jobs is the tourism sector creating," he said. Kant further said, "Tourism has a huge multiplier impact for every direct job that you create, you create seven indirect jobs, but I think somehow the tourism industry has failed to tell the politicians that we are a big creator of jobs." In terms of employment, Thailand creates close to 20 million jobs, Malaysia about 15 million

India insurance sector growth pegged at 7.1% in 2024-28: Swiss Re

The expanding economy, growing middle class, innovation and regulatory support are driving the insurance market growth in India

Year Ender 2023: G20 stands out as India's diplomatic achievement of year

India assumed the G20 Presidency on December 1, 2022

WHO chief lauds sustainable planet theme under Brazil's G20 presidency

"I'm one of the founder members of the G20," Lula da Silva said, pointing out that a summit like the G20 shows the importance of a multipolar world

Virtual G20 leaders' summit: Development, global challenges on agenda

"What we decided on green development facts will drive the outcomes of COP28," Kant said

India made G20 far more inclusive by making AU permanent member: Kant

India has made G20 far more inclusive by ensuring the induction of the African Union as a permanent member of the grouping under its presidency, New Delhi's G20 Sherpa Amitabh Kant said on Tuesday, days ahead of the second edition of the virtual Voice of Global South summit. In an address at a conference, Kant also described the G20 New Delhi leaders' declaration as a very hard-fought victory for the Global South as it reflected the aspirations of the developing countries. The conference themed "G20 Delhi Summit: Inclusive Growth and Rise of the Global South" was organised by India Writes Network, Centre for Global Insights India and School of International Relations, Jawaharlal Nehru University. "One of the lasting images that will carry on forever in my mind of India's G20 presidency is the image of the prime minister hugging the president of Comoros and welcoming the African Union as a permanent member of the G20," Kant said. "With that one stroke, India ensured that the G20 bec

Momentum must be maintained on New Delhi Leaders' Declaration: FM on G20

Finance Minister Nirmala Sitharaman on Monday said India's G20 Presidency has provided a clear policy direction for addressing the needs of the majority of the global population whose voices are often unheard in multilateral forums. "However, we still have work left to do," the minister said in an inaugural address at the Seminar on 'Strong, Sustainable, Balanced and Inclusive Growth', organised by the ministries of finance and labour, and the commerce department. On December 1, 2022, India assumed the mantle of G20 Presidency. The G20 New Delhi Leaders Declaration (NDLD), unanimously agreed to by all G20 countries, addresses some of the pressing challenges confronting the global economy and also provides policy guidance for a future built on people-focused principles and trust-based partnerships, Sitharaman said. "Even though by the end of this month, our role as G20 Presidency comes to an end, momentum must be maintained on the policy guidance in the New Delhi Leaders' ...

India promoting participation of women in every sector: PM at P20 summit

Prime Minister Narendra Modi on Friday said India is promoting participation of women in every sector with almost 50 per cent of the elected representatives in local self-government institutions being women. The recent law on granting one-third reservation to women in the Lok Sabha and state assemblies will further enrich the country's parliamentary tradition, he said addressing the inaugural session of the ninth G20 Parliamentary Speakers' Summit (P20) here. Prime Minister Modi also said that India has more than 900 TV channels in 28 languages to provide real-time information to people and more than 33,000 different newspapers are published in about 200 languages. He emphasised the huge flow of information and the level of freedom of speech in India. "In this world of the 21st century, this vibrancy of India, unity in diversity, is our greatest strength. This vibrancy inspires us to fight every challenge and solve every difficulty together," he said. In his address, ...

Canadian Speaker Raymonde Gagne skips G20 Parliamentary Speakers' Summit

Amid a diplomatic row, Speaker of the Canadian Senate Raymonde Gagne has decided to skip the Presiding Officers' Summit of Parliaments of G20 nations that began here Thursday. Gagne had earlier confirmed her presence at the Parliament-20 meeting chaired by Lok Sabha Speaker Om Birla. "The Canadian Speaker is not attending the Summit. Schedules keep changing," Parliamentary sources said. Earlier, Birla had said he would raise "several issues" in his informal talks with the Speaker of the Canadian Senate. India, Canada relations have nosedived after Prime Minister Justin Trudeau's allegations last month linking Indian agents to the killing of Khalistani extremist Hardeep Singh Nijjar in June. India had dismissed the allegation as "absurd". The P20 meeting got underway on Thursday with Parliamentarians of G20 nations participating in the Parliamentary Forum on LiFE (Lifestyle for Environment), a movement proposed by Prime Minister Narendra Modi.

FM to attend World Bank-IMF meet, G20 FMBCBG in Morocco from Oct 11

Finance Minister Nirmala Sitharaman will embark on a six-day official visit on Tuesday to Marrakech, Morocco, to attend the World Bank-International Monetary Fund annual meet, along with the G20 FMCBG meeting. Besides, bilateral meetings with Indonesia, Morocco, Brazil, Switzerland, Germany and France are scheduled to take place on October 11-15, 2023, in Marrakech. The Indian delegation for the annual meetings will be led by the Finance Minister, and comprise officials from the Ministry of Finance and the Reserve Bank of India, an official statement said on Monday. During the visit, it said, Sitharaman and RBI Governor Shaktikanta Das will co-chair the fourth G20 Finance Ministers and Central Bank Governors (FMCBG) meeting. The G20 FMCBG meeting under India's presidency will witness the participation of 65 delegations from G20 countries, invitee countries, and international organisations in multilateral discussions centred around a broad spectrum of important global issues, it ...

EAM Jaishankar holds meeting with Tanzanian President Samia Suluhu Hassan

Earlier in the day, Tanzanian President Samia Suluhu Hassan arrived in Delhi on State visit to India. Union Minister of State for Education Annapurna Devi received her in New Delhi

'Our G20 Presidency is special,' says EAM during G20 University Connect

External Affairs Minister S Jaishankar has said that the G20 Summit under India's presidency is special and different

IBSA countries laud G20 summit in India, extend support to Brazil

The IBSA ministers reaffirmed G20's role as the premier forum for international economic cooperation

Finance Minister Sitharaman meets G20 expert group on strengthening of MDBs

Finance Minister Nirmala Sitharaman on Saturday met the G20 Independent Expert Group on strengthening of Multilateral Development Banks (MDBs). The G20 Independent Expert Group (IEG) is co-convened by former American treasury secretary Lawrence Summers and ex-chairman of the 15th Finance Commission N K Singh. The IEG set up by G20 India Presidency has focused on strengthening MDBs and delivered Volume 1 of its report which was acknowledged by G20 leaders in New Delhi Leaders Declaration earlier this month. "The #G20IEG members are currently in India working on Volume 2 of their report to be discussed in #G20 meetings scheduled to be held under the Indian Presidency in #Marrakech on sidelines of @IMFNews @WorldBank #AnnualMeetings," the finance ministry said in a post on X. The fourth and final Finance Ministers and Central Bank Governors (FMCBG) Meeting under India's G20 Presidency is taking place next month in Morocco. MDBs need to provide an additional USD 260 billion annually t

India's incredible year

After the success of G20 and the moon mission, the country needs a few vital course corrections to pave the way to an advanced nation by 2047

G20 Summit Delhi: 4 Ways in which the G20 Declaration will accelerate ESG

To accelerate progress on SDGs by 2030, the document recognises the role of digital transformation, AI, data advances, and the need to address digital divides

On trade, Delhi G20 improves over the Bali declaration

It is near certain that the United States is reluctant to clear the way for appointment of members to the appellate body and thus revive the dispute settlement mechanism at the WTO

The G20 tightrope

India navigated political minefields to show great economic leadership to make progress on the G20's core mandate