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New Delhi [India], September 9 (ANI): Noting that India's <keyword id="4709730" type="General" weightage="20" keywordseo="g20-presidency" source="Orion">G20 Presidency</keyword> has become a symbol of inclusion both inside and outside the country, Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> said on Saturday that it has become "People's G20" in India and crores of citizens are connected with it. In his opening statement at <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 Summit</keyword> being hosted under India's presidency, PM Modi spoke of global challenges and said 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas' can be the torch bearer to address these. The plaque in front of PM Modi at the G20 Summit said "Bharat". "India's G20 presidency has become a symbol of inclusion, of 'sabka saath' both inside and outside the country. This has become People's G20 in India. Crores of Indians are connected to this. In more than 60 cities of the country, more than 200 meetings have taken place. With the sense of 'Sabka Saath', India had proposed that the <keyword id="148491" type="General" weightage="20" keywordseo="african-union" source="Orion">African Union</keyword> be granted permanent membership of G20. I believe that all of us agree to this proposal," he said. PM Modi also invited the head of the African Union to take his seat as a member of the G20. The first session of the summit under the theme 'One Earth' started at Bharat Mandapam, the venue of the conference. External Affairs Minister S Jaishankar accompanied the President of the Union of Comoros and Chairperson of the African Union (AU), Azali Assoumas he took his seat among world leaders. "With everyone's approval, I request the African Union Chairperson to take his seat as a permanent G20 member," PM Modi said. African Union's inclusion in G20 was among India's key priorities in the G20 summit under its presidency. African Union's inclusion in G20 grouping was proposed by PM Modi in June this year. At the beginning of his speech, PM Modi expressed his condolences over the loss of lives due to an earthquake in Morocco. "Before we start the proceedings of G20, I want to express my condolences over the loss of lives due to an earthquake in Morocco. We pray that all injured recover at the earliest. India is ready to offer all possible assistance to Morocco in this difficult time." PM Modi noted that the world has faced a new challenge of trust deficit after the COVID-19. He referred to conflict between Ukraine and Russia and said the war had deepened the trust deficit further. "If we can defeat a pandemic like COVID, we can also win over the challenge of this trust deficit. Today, as the President of the G20, India calls upon the entire world to transform this global trust deficit into trust and confidence. This is the time for all of us to move together," he said. "In this time, the mantra of 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas' can be the torch bearer for us. Be it the divide between North and South, the distance between East and West, management of food and fuel, terrorism, cyber security, health, energy or water security, we will have to move towards a solid solution to this for future generations." Ahead of G20 Summit, PM Modi welcomed world leaders, including US President <keyword id="99719" type="General" weightage="50" keywordseo="joe-biden" source="Orion">Joe Biden</keyword>, Canadian Prime Minister Justin Trudeau, UK PM <keyword id="221875" type="General" weightage="50" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword>, and German Chancellor Olaf Scholz. As the leaders arrived, they were greeted by PM Modi in the backdrop of replica of <keyword id="14091937" type="General" weightage="50" keywordseo="konark-wheel" source="Orion">Konark Wheel</keyword> from Odisha. The Konark Wheel was built during the 13th century under the reign of King Narasimhadeva-I. The wheel with 24 spokes has been adapted in India's national flag embodying India's ancient wisdom, advanced civilisation, and architectural excellence. The rotating motion of the Konark Wheel, symbolizes time, Kalachakra as well as progress and continuous change. It serves as a powerful symbol of the wheel of democracy that reflects the resilience of democratic ideals, and commitment to progress in society. The theme of this year's G20 Summit, which is taking place under India's presidency is "Vasudhaiva Kutumbakam" or "One Earth, One Family, One Future." PM Modi had on Friday expressed confidence that the New Delhi G20 Summit will chart a new path in the human-centric and inclusive development "India is delighted to host the 18th G20 Summit on 09-10 September 2023 at New Delhi's iconic Bharat Mandapam. This is the first ever G20 Summit being hosted by India. I look forward to productive discussions with world leaders over the next two days. It is my firm belief that the the New Delhi G20 Summit will chart a new path in the human-centric and inclusive development," he said in a post on 'X'. India assumed the G20 presidency on December 1 last year. This is the first time that a G20 Summit is taking place under India's presidency. (ANI)

India's G20 presidency has become symbol of inclusion inside, outside country: PM Modi

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> is aiming at developing standard operating procedures for <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> during its <keyword id="4709730" type="General" weightage="20" keywordseo="G20-presidency" source="Orion">G20 presidency</keyword> next year, <keyword id="7706673" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword> has said, underlining that all countries want the technology to survive but not be misutilised. “That (crypto) will also be part of India's thing (agenda during G-20 presidency),” Sitharaman told a group of Indian reporters on Saturday before concluding her trip to Washington DC to attend the annual meetings of the International Monetary Fund and the World Bank. India will assume the Presidency of the G20 for one year from December 1, 2022 to November 30, 2023. Under its Presidency, India is expected to host over 200 G20 meetings across the country, beginning December 2022. Sitharaman has been making a strong case for global regulation of cryptocurrencies to tackle the risks on money laundering and terror funding. Noting that institutions, which are associated with the G-20 or the World Bank or any such organisation, are doing their own assessment and studies of matters related to cryptocurrencies or crypto assets, the minister said, “We would definitely want to collate all this and do a bit of study and then bring it on to the table of the G-20 so that members can discuss it and hopefully arrive at a framework or SOP, so that globally, countries can have a technology driven regulatory framework." The G20 is an intergovernmental forum comprising 19 countries and the European Union. It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development. Sitharaman underlined that no one single country can effectively handle or regulate crypto in any form. “But implicit in this is that we don't want the technology to be disturbed. We want the technology to survive and also be in a position for the FinTech and other sectors to benefit from it. “But if it is a question of platforms, trading on assets which have been created, buying and selling making profits and more importantly in all these are countries in a position to understand the money trade, are we in a position to establish for what purpose it's being used?” Sitharaman asked. She gave the example of the Enforcement Directorate (ED) detecting substantial money laundering, probably cases related to crypto assets and trading of assets, recently in India. “This concern has been actually acknowledged by several members of the G20 saying yes money trail, yes money laundering, yes drug misuse, and so on. There is an understanding that we need to have some kind of regulation, and that all the countries will have to be true together on it, no one country is going to be able to singularly handle it. So on that we will certainly have something,” Sitharaman said. In July, Sitharaman said the Reserve Bank of India (RBI) has expressed concerns over cryptocurrencies, saying that they should be prohibited as they can have a destabilising effect on the monetary and fiscal stability. "In view of the concerns expressed by the RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a country, the RBI has recommended framing of legislation on this sector. The RBI is of the view that cryptocurrencies should be prohibited," she said in a written reply to the Lok Sabha. The RBI has mentioned that cryptocurrencies are not a currency because every modern currency needs to be issued by the central bank or the government, she told Parliament. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/imf-chief-warns-of-risk-of-geopolitical-fragmentation/articleshow/94883161.cms" style="">IMF chief warns of risk of geopolitical fragmentation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/us-offer-to-help-india-in-chip-manufacturing-just-lip-service-china/articleshow/94882797.cms" style="">US offer to help India in chip manufacturing just lip service: China</a>

India aims to develop SOPs for cryptocurrency during G20 presidency: Sitharaman

New Delhi, Feb 1 () Finance Minister Nirmala Sitharaman on Saturday said India will host the G-20 Presidency in 2022 and Rs 100 crore has been allocated for this purpose.
 During this meeting, India would be able to drive the global economic and development agenda, the Finance Minister said while presenting the Budget for 2020-21 in Parliament.
 "I am happy to inform that India will host G-20 Presidency in the year 2022 - the year of 75th anniversary of independence of Indian Nation," she said.
 India would be able to drive considerably the global economic and development agenda during this presidency, the minister said.
 "For this historic occasion, I allocate a sum of Rs 100 crore to begin the preparations," she added.
 The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU). ABI DRR

Govt allocates Rs 100 cr to host G-20 Presidency in 2022

Counter-terrorism and economic reforms will dominate the discussions amongst the leaders of the world's 20 largest economies at the G20 Summit in Germany next week, to be attended by Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword>. The 12th G20 Summit on July 7-8 in Hamburg, a major port city in northern Germany, will also discuss issues like free and open trade, climate change, migration, sustainable development and global stability. The prime minister will lead the Indian delegation at G20 meeting, which will also include NITI Aayog Vice Chairman and India's G20 Sherpa Arvind Panagariya. Besides, the Department of Economic Affairs Secretary will also be there to lead discussions on the finance track of the summit, Alok Amitabh Dimri, Joint Secretary (Multilateral Economic Relations) in the <keyword id="6374106" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-External-Affairs">Ministry of External Affairs</keyword> said. The summit will conclude with a joint statement by the world leaders. The G20 is the central forum for international cooperation on financial and economic issues. The G20 countries account for more than four-fifths of gross world product and three-quarters of global trade, and are home to almost two-thirds of the world's population. The "Group of Twenty" is made up of 19 countries and the European Union. The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the <keyword id="6361754" type="COUNTRY" weightage="20" keywordseo="United-Kingdom">United Kingdom</keyword> and the USA. Germany assumed the <keyword id="4709730" type="UNKNOWN" weightage="20" keywordseo="g20-presidency">G20 Presidency</keyword> on December 1, 2016. In a media briefing about Indian engagements at G20 Summit, Dimri said it will begin with a two-hour "leaders' retreat" on July 7 morning where the theme of the discussions will be counter-terrorism. He said this theme goes well with the prime minister's engagements with other world leaders and there was expectation that the issue of counter-terrorism will remain a separate thrust area as was the case with the last G20 Summit in Antalya, Turkey last year. The summit will also include four working sessions, including on growth and trade, climate and energy as well as on sustainable development and labour-related issues. Dimri said Panagariya as India's G20 Sherpa has already been part of three preparatory meetings on the summit agenda and will attend one more such meeting before the world leaders meet in Hamburg. Modi is leaving for Israel on July 4 for a three-day visit and will go to Germany after that for the G20 meet. The finance track of the G20 meeting will include discussions on issues like fiscal and monetary reforms, climate finance and green finance. Dimri said open and free trade would be another area of focus at the summit deliberations, while a special focus on Africa is also expected as it was one of the key thrust areas for the host Germany's Chancellor <keyword id="76" type="PERSON" weightage="20" keywordseo="Angela-Merkel">Angela Merkel</keyword>. Besides, women and youth employment, gender inequality, re-skilling and health will also figure among discussions and outcome of the meeting. Advisers to the heads of state and government, known as Sherpas, have been preparing for this meeting for long. Asked whether Modi will also have bilaterals with any of the world leaders on the sidelines, the Ministry of External Affairs Spokesperson Gopal Baglay said any bilateral meeting is announced very close to the event. "There is a process involved in that... We will keep you informed as and when those things materialise," he said. On whether the leaders' retreat on counter-terrorism would also include issues like cross-border terror threats, Dimri said one has to understand that the summit was not taking place in any regional context and it was a global summit. He further observed that the summit was taking place in Germany and it was more logical that the events in Europe would figure with regard to counter-terrorism related discussions. He also clarified that the leaders' retreat was not a formal session and the Chair (Germany) has decided to pull aside the world leaders for two hours for this retreat before opening of the Summit on the subject of counter-terrorism. "This shows the significance the world leaders attach to this issue," he said, while clarifying it was not one of the formal sessions where discussions happen as per the agenda and here the world leaders will interact with each other in in "very intimate surroundings". At the same time, some outcome should be expected as the leaders would be discussing this important issue, he said. On whether India can expect support on CCIT (Comprehensive Convention on International Terrorism) -- its key anti-terror initiative at UN --- Dimri replied in affirmative, and said the CCIT has been there in most of the bilateral or multilateral documents. Asked whether India was prepared to counter, if China talks about its OBOR (One Belt, One Road) initiative, Dimri said one needs to understand such summits do not involve the leaders going and speaking at their own volition as there are fixed agenda points for discussions that get finalised after rounds of meetings by Sherpas. "These are not one-off meetings and have been preceded by a number of meetings through the year, including of working groups, meetings of Sherpas and they have bunched up agenda from multiple streams...and OBOR has not been discussed so far," he said.

PM Narendra Modi, world leaders to discuss counter-terrorism at G20 Summit

New Delhi [India], September 9 (ANI): South African President <keyword id="238505" type="General" weightage="50" keywordseo="cyril-ramaphosa" source="Orion">Cyril Ramaphosa</keyword> on Sunday welcomed the inclusion of <keyword id="148491" type="General" weightage="100" keywordseo="african-union" source="Orion">African Union</keyword> as permanent G20 member and said that his country is delighted with the group's inclusion in G20. President <keyword id="4462660" type="General" weightage="80" keywordseo="ramaphosa" source="Orion">Ramaphosa</keyword> stressed on the accelerating the transition of low-carbon, climate resilient, sustainable societies and said that the developing economies are getting affected with the continuous evolving climate change. Taking to X, he said, "We are delighted that the #G20 has accepted the @_AfricanUnion as a member of the #G20. Global reconstruction in the wake of the #COVID19 pandemic presents a unique opportunity to accelerate the transition to low-carbon, climate resilient, sustainable societies. Developing economies are bearing the brunt of climate change, despite carrying the least responsibility for this crisis." "As African and other developing economy countries, we face the task of meeting our climate commitments in the midst of significant developmental challenges like poverty, inequality and unemployment," he added. President Ramaphosa also called for a collective action for tackling issues like Climate change, environmental degradation, unsustainable consumption and production and resource scarcity. He further said, "South Africa calls for an enhanced and expanded Global Partnership for Sustainable Development. This must be supported by the concrete policies and actions outlined in the Addis Ababa Action Agenda on Financing for Development." Earlier <keyword id="2238662" type="General" weightage="50" keywordseo="pm-modi" source="Orion">PM Modi</keyword> had invited the head of the African Union to take his seat as a member of the G20.The first session of the summit under the theme 'One Earth' started at Bharat Mandapam, the venue of the conference. External Affairs Minister <keyword id="491850" type="General" weightage="50" keywordseo="s-jaishankar" source="Orion">S Jaishankar</keyword> accompanied the President of the Union of Comoros and Chairperson of the African Union (AU), <keyword id="18715428" type="General" weightage="50" keywordseo="azali-assoumas" source="Orion">Azali Assoumas</keyword> he took his seat among world leaders. "With everyone's approval, I request the African Union Chairperson to take his seat as a permanent G20 member," PM Modi said. African Union's inclusion in G20 was among India's key priorities in the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 summit</keyword> under its presidency. African Union's inclusion in G20 grouping was proposed by PM Modi in June this year. (ANI)

South African President welcomes African Union inclusion in G20 as permanent member

US President <keyword id="99719" type="General" weightage="50" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> on Sunday departed from Delhi to <keyword id="13486" type="General" weightage="50" keywordseo="vietnam" source="Orion">Vietnam</keyword> after concluding the <keyword id="42982" type="General" weightage="100" keywordseo="G20-Summit" source="Orion">G20 summit</keyword>. <keyword id="60973" type="General" weightage="100" keywordseo="biden" source="Orion">Biden</keyword> had arrived on the evening of September 8 to attend the G20 Summit in the national capital. He held bilateral discussions with Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> on the same day, where both the nations agreed to co-operate in the sectors like telecom, space, renewable energy, defence and education. Biden along with Modi also announced the launch of the <a href="https://www.businessinsider.in/policy/economy/news/g20-biofuel-alliance-can-generate-opportunities-worth-500-bn-in-next-3-yrs-member-nations/articleshow/103548504.cms" data-type="tilCustomLink" target="_blank">Global Biofuels Alliance</a> on the sidelines of the G20 Summit on Saturday. A total of 19 countries and 12 international organisations have so far agreed to join the alliance, including both G20 members and non-member countries. India, Brazil and the US are the founding members of the alliance. Apart from this, Biden was also present during the announcement of the launch of the India-Middle East-Europe economic corridor. The first-of-its-kind economic corridor will be a historic initiative on cooperation on connectivity and infrastructure involving India, UAE, Saudi Arabia, EU, France, Italy, Germany, and the US. The summit has been attended by more than 30 heads of state and top officials from the European Union, invited guest countries, and 14 heads of international organisations. The theme of this year's G20 Summit, which is taking place under India's presidency, is "Vasudhaiva Kutumbakam," or "One Earth · One Family · One Future," - which is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life-human, animal, plant, and microorganism-and their interconnectedness on the planet Earth and in the wider universe.

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India's G20 presidency has become symbol of inclusion inside, outside country: PM Modi

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India aims to develop SOPs for cryptocurrency during G20 presidency: Sitharaman

PTI

Govt allocates Rs 100 cr to host G-20 Presidency in 2022

PTI

PM Narendra Modi, world leaders to discuss counter-terrorism at G20 Summit

BI India Bureau

South African President welcomes African Union inclusion in G20 as permanent member

ANI

US President Biden departs for Vietnam after attending G20 Summit

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