Tag: G20

India-Middle East-Europe Economic Corridor announcement sparks optimism | Expert analysis

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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One of the key announcements made during the recent G20 summit that generated enthusiasm in the Indian stock markets pertains to the India-Middle East-Europe Economic Corridor (IMEEC). This initiative outlines a strategic plan to establish connectivity between India and Europe via the Middle East region. 

The core concept involves the development of a network of railway lines within the Middle East, creating transportation links that connect India and Europe through sea routes on either side. The primary objectives of this initiative are threefold. 

Firstly, it seeks to promote increased trade activities between the involved regions. Secondly, it places emphasis on developing environmentally friendly infrastructure. Lastly, it aims to provide an alternative to the Chinese Belt and Road Initiative (BRI), which has been instrumental in enhancing Chinese influence on a global scale.

This announcement had a positive impact on the stock market, particularly benefiting Adani Ports, as the company had already acquired the Israeli Port of Haifa. Adani Ports is well-positioned to take advantage of the opportunities presented by the IMEEC project.

In an interview with CNBC-TV18, a distinguished panel of guests engaged in a detailed discussion regarding the anticipated outcomes and the pace of progress to be anticipated from this initiative. 

The panel consisting of Navdeep Suri, Former Ambassador to Egypt and UAE who currently serves as a Distinguished Fellow at ORF; Rahul Chhabra, Former Secretary-Economic Relations at MEA with extensive experience as an Ambassador in trade relationships and Somnath Mukherjee, CIO and Senior Managing Partner at ASK Private Wealth.

First up, Chhabra pointed out that the IMEEC corridor carries significant geopolitical significance, particularly in connecting India, the world’s fastest-growing economy, to Europe. However, he expressed uncertainty regarding the timeline for its completion.

Meanwhile, Suri noted that approximately 75 percent of the physical infrastructure is already established, but there is still a need for development in terms of customised infrastructure.

However, Mukherjee said it’s premature to determine if this project is a viable investment opportunity. He added, “Thing that goes in favour of this project, besides the fact that some parts of it are likely already in place like the Etihad Rail, is also the constituent members of the project envisaged, between the United States India and Europe, we have probably the best financial expertise and bandwidth available in the world.”

For more details, watch the accompanying video.

Also Read:India-West Asia-Europe connectivity corridor to be launched soon: PM Modi

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China welcomes G20 New Delhi Leaders’ Declaration as ‘positive signal’ for global cooperation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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China on Monday said the G20 New Delhi Leaders’ Declaration has sent a positive signal that the member countries of the influential grouping are joining hands in tackling global challenges and economic recovery.

India on Saturday pulled off a big diplomatic win after the G20 summit held under its presidency adopted a consensus declaration overcoming major differences on the Russia-Ukraine war, as Prime Minister Narendra Modi called for ending the “global trust deficit”.

The declaration released by the G20 summit shows that China’s proposition is a good signal, Chinese Foreign Ministry spokesperson Mao Ning told a media briefing in Beijing in response to a question on how Beijing views the outcome of the G20 summit which concluded on Sunday. Chinese Premier Li Qiang attended the summit, deputising for President Xi Jinping.

The declaration also signals that the G20 countries are joining hands in tackling global challenges, sending a positive signal to the world on economic recovery, Mao said. During the preparation process, China also played a constructive role and attached importance to the concerns of developing countries and supported the outcome which was conducive to global common development, she said.

Mao said China has always attached importance to the G20 20 grouping and supports its work. We support the G20 solidarity and cooperation in tackling risks to the world economy and various development sectors, the spokesperson said.

Premier Li during his attendance fully recounted China’s position and propositions on G20 cooperation, she said. He championed that all countries need to adhere to the original aspiration of solidarity and cooperation shoulder the responsibility of times and promote a partnership conducive to global economic recovery, openness, cooperation and sustainable development, Mao said.

The G20 member countries represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population. The grouping comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union. On Saturday, the African Union was admitted as G20’s permanent member.

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Brazil President Lula da Silva’s three priorities under G20 presidency

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A Brazil took over the G20 Presidency for the next year, and its President, Lula da Silva, set forth the country’s priorities during its presidency. “We will put inequality at the top: inequality of gender, race, education, health, poverty and hunger. The world needs balance,” the Brazilian President said while addressing a press conference on Monday. His statement came a day after the two-day-long G20 Summit concluded in New Delhi.

On Sunday, he said Brazil has three priorities under the G20 presidency. These include:

1. Social inclusion and the fight against hunger
2. Energy transition and sustainable development
3. Reform of global governance institutions

Besides, Lula also announced that these priorities are part of the Brazilian presidency motto which says ‘Building a fair world and a sustainable planet’.

At the closing session of the G20 Summit in New Delhi, Luiz Inacio Lula da Silva said two task forces will be created – the Global Alliance against Hunger and Poverty and the Global Mobilisation against Climate Change.

“We need to redouble our efforts to achieve the goal of ending world hunger by 2030. Otherwise, we will be facing the biggest multilateral failure in recent years. Acting to fight climate change requires political will and determination of the rulers as well as resources and technology transfer,” the Brazilian president was quoted by news agency ANI saying.

“We want greater participation of the emerging economies in the decision-making process of the World Bank and International Monetary Fund, the unbearable foreign debts of the poor countries need to be addressed,” he added.

He said this after Prime Minister Narendra Modi handed over the ceremonial gavel of the Group of 20 Presidency to him.

While Indonesia held the G20 presidency last year, Brazil will hold the presidency after India and hold the G20 Summit in its capital Rio de Janeiro. India took over the G20 presidency on December 1 last year at the G20 Summit in Indonesia’s Bali and will continue to hold it till the end of November.

(With inputs from agencies)

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PM Modi, Saudi Crown Prince discuss ways to unlock potential of India-Saudi Arabia Strategic Partnership

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi held delegation-level talks with the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud at Hyderabad House in Delhi on Monday.

During their meeting, the two leaders formalized the proceedings of the inaugural session of the India-Saudi Strategic Partnership Council. They delved into various aspects of their bilateral relationship and explored avenues to further unlock the potential inherent in the India-Saudi Arabia Strategic Partnership, as communicated by the Ministry of External Affairs.

Furthermore, they jointly presided over the inaugural session of the India-Saudi Arabia SPC. The agenda of this meeting encompassed a wide spectrum of areas for bilateral collaboration, including but not limited to energy security, trade and investment, defense and security, healthcare, food security, culture, and community welfare matters, among others, as reported by the ministry.

What PM Modi said

At India-Saudi Arabia meet, PM Modi said, “We have identified several initiatives to take our close partnership to next level…We are adding new dimension to our ties in tune with changing times.”

The Indian Prime Minister added that Saudi Arabia is one of its most important strategic partners for India. “As two large and fast-growing economies of the world, our mutual cooperation is important for peace and stability in the entire region,” he added.

“Today’s talks will provide new energy and direction to our relations. This will provide us inspiration to work together for the welfare of humanity,” Modi said.

The prime minister further said that on Sunday India and Saudi Arabia have taken a decision to start a historic economic corridor between India, West Asia and Europe.

“This corridor will not only connect two countries but also help in providing economic growth, and digital connectivity between Asia, West Asia and Europe,” he said.

What Crown Prince said

Crown Prince and PM of the Kingdom of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud said there was no disagreement at all during the history of this (India-Saudi Arabia) relationship but there is cooperation to build the future of our country and create opportunities.

“Today we are working on future opportunities…I congratulate you (PM Modi) on the management of the G20 Summit and the initiatives achieved, including the Economic Corridor linking the Middle East, India and Europe which requires that we work diligently in order to create it into reality…,” he said.

In a series of tweet ahead of the meeting , Ministry of External Spokesperson Arindam Bagchi on Monday said that the “leaders will co-chair the first Meeting of the India-Saudi Arabia Strategic Partnership Council (SPC).”

PM Modi and Saudi Arabia’s Crown Prince “will review the progress made under the two Ministerial Committees of the Strategic Partnership Council,” the ministry said in a press release on Saturday. “The Meeting of the two leaders today follows the Ministerial Meetings of the two Committees held in September 2022 in Riyadh,” the ministry said.

A new chapter in the 🇮🇳-🇸🇦 ties.

PM @narendramodi welcomes HRH Prince Mohammed bin Salman, Crown Prince & PM of the Kingdom of Saudi Arabia at Hyderabad House.

Leaders will co-chair the first Meeting of the India-Saudi Arabia Strategic Partnership Council (SPC). pic.twitter.com/yqH06Be11z

— Arindam Bagchi (@MEAIndia) September 11, 2023

Informing about the Council, Bagchi said the SPC was formed in October 2019 during PM Modi’s visit to Riyadh. “SPC has two Committees: Committee on Political-Security-Social and Cultural Cooperation and Committee on Economy and Investment,” he said in a series of tweets.

#WATCH | Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud and Prime Minister Narendra Modi hold delegation-level talks at Hyderabad House in Delhi. pic.twitter.com/EE7l3z7G1t

— ANI (@ANI) September 11, 2023

The meeting between PM Modi and Prince Mohammed bin Salman bin Abdulaziz Al Saud came a day after India concluded G20 meeting on Sunday. Saudi Crown Prince Mohammed bin Salman began a state visit to India on Monday.

Earlier in the day, President Droupadi Murmu accorded a ceremonial welcome to Prince Mohammed bin Salman bin Abdulaziz Al Saud at Rashtrapati Bhavan. The Saudi Crown Prince then inspected a combined defence services Guard of Honour. In a brief statement, Mohammed bin Salman congratulated India for a successful G20 presidency.

President Droupadi Murmu accorded a ceremonial welcome to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia at Rashtrapati Bhavan. pic.twitter.com/RAKZOkG4bD

— President of India (@rashtrapatibhvn) September 11, 2023

He said, “Well done India, a lot of announcements made that will benefit both our countries, the G20 countries and the whole world. So I want to say to India well done, and we will work to create a future for both countries,” the Saudi Crown Prince was quoted by ANI as saying. Later in the day, Saudi Arabia’s Crown Prince is scheduled to call on President Droupadi Murmu.

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G20 media centre: How journalists from across globe worked as ‘one family’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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For many journalists from across the world who were here to cover the G20 Summit, sharing working space at the International Media Centre for the last three days made them experience the spirt of “one family”. From September 8-10, scribes and camerapersons from Italy to Singapore and Turkiye to Brazil worked from the facility at the newly built Bharat Mandapam — the summit’s venue. In between work, they chatted over cups of coffee and Indian meals, and also learned about cultures of different countries from each other.

“The G20 theme is ‘one world, one family, one future’, and all of us have been working with one aim in one space, under one roof. So, one can feel the spirit of the G20 here,” Michael Hoefele, who works for a news agency in Germany, said. The International Media Centre is a working space spread over two floors in Hall No. 5 of the sprawling Bharat Mandapam complex.

G20 logos are splashed across huge decorative panels put up in the hall on the theme of ‘Vasudhaiva Kutumbakam’ — ‘One Earth. One Family. One Future’. On Saturday, on the ground floor of the hall, in a corner, a TV journalist from Turkiye was doing a live broadcast while, near her desk, a German photographer was busy filing photos after the press conference of German Chancellor Olaf Scholz. On Sunday, the second day of the summit, an Indian TV journalist in a saree interacted with a delegate while a reporter from Italy, sitting at a terminal close by, filed stories on a laptop.

“We all have been working here for the last three days, from pre-summit briefing on September 8 to the main summit on September 9 and the closure of the event today. What I liked about the working space was that it has no walls to segment the space. A person sitting on one corner can see the person sitting at the other end,” TV journalist from Istanbul, Asli Bilger Kutludag, said. It has been very tiring but a different experience of India, she said.

The theme of G20 has been depicted in the design of the working space too, with working zones linearly divided into segments named after Indian rivers — Ganga, Yamuna, Brahmaputra, Krishna and Godavari on the ground floor and Narmada, Indus and Kaveri on the first floor. Rooms have been named after mountain ranges such as Vindhya and Niligiri on the ground floor while the main briefing room on the first floor bears the name Himalaya.

It is fitting that these segments have been named after India’s rivers, some of which which meet each other at a confluence, said a Delhi-based journalist covering the G20 Summit. Journalists from Italy, the US, Singapore and many other countries echoed similar sentiments.

Many of the hospitality staff who have been serving them for the last three days felt a similar vibe. “At one table is a journalist from say Brazil, while sitting at another desk is a reporter from Germany. They are all doing the same thing, even though they are from a different cultural and nationality. It was like a ‘one big global family’ for the last three days. Truly ‘Vasudhaiva Kutumbakam’,” a staffer said on the condition of anonymity.

The G20 Summit hosted at the Bharat Mandapam ended on Sunday. The leaders on Saturday had adopted the New Delhi Declaration, and on Sunday, the ceremonial gavel was handed over to Brazil by India, amid cheers from Brazilian journalists.

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PM Modi conveys strong concerns to PM Trudeau over anti-India activities of extremist elements in Canada

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Sunday conveyed to his Canadian counterpart Justin Trudeau India’s strong concerns about the continuing anti-India activities of extremist elements in Canada that were promoting secessionism, inciting violence against its diplomats and threatening the Indian community there.

In his talks with Trudeau on the sidelines of the G20 Summit, Modi also mentioned that a relationship based on “mutual respect and trust” is essential for the progress of the India-Canada relationship, the Ministry of External Affairs (MEA) said.

“The Prime minister highlighted that India-Canada relations are anchored in shared democratic values, respect for rule of law and strong people-to-people ties,” it said.

“He conveyed our strong concerns about continuing anti-India activities of extremist elements in Canada. They are promoting secessionism and inciting violence against Indian diplomats, damaging diplomatic premises, and threatening the Indian community in Canada and their places of worship,” it said.

The nexus of such forces with organised crime, drug syndicates and human trafficking should be a concern for Canada as well. It is essential for the two countries to cooperate in dealing with such threats, the MEA said in a statement.

Asked about India’s concerns over the increasing activities of the Khalistani elements in Canada, Trudeau said at a press conference that his country will always defend freedom of peaceful protest but at the same time asserted that it will always prevent violence and push back against hatred.

“Canada will always defend freedom of expression, freedom of conscience, and freedom of peaceful protest and it is extremely important to us,” he said.

“At the same time, we are always there to prevent violence and to push back against hatred. I think on the issue of the community, it is important to remember that the actions of the few do not represent the entire community or Canada,” Trudeau said.

The Canadian Prime Minister said India is an important partner of Canada in a range of sectors.

“India is an extraordinarily important economy in the world and an important partner to Canada on everything from fighting climate change to creating growth and prosperity for the citizens,” he said.

The Canadian Prime Minister said both sides will continue to look at expanding existing cooperation.

In a post on ‘X’, Modi said he and Trudeau discussed the full range of India-Canada ties across different sectors.

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Canada will always defend peaceful protest, push back against hatred says PM Trudeau on Khalistani activities

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India is an “extraordinarily important” economy and an “important partner” of Canada in a range of sectors including fighting climate change and creating economic growth, Canadian Prime Minister Justin Trudeau said on Sunday.

His comments at a media briefing came shortly after he held talks with Prime Minister Narendra Modi on the sidelines of the G20 Summit.

Asked about India’s concerns over the increasing activities of the Khalistani elements in Canada, Trudeau said his country will always defend freedom of peaceful protest but at the same time asserted that it will always prevent violence and push back against hatred.

He also said that the actions of the few do not represent the entire community or Canada.

“India is an extraordinarily important economy in the world and an important partner to Canada on everything from fighting climate change to creating growth and prosperity for the citizens,” he said.

The Canadian Prime Minister said both sides will continue to look at expansion of existing cooperation.

In a post on ‘X’, Modi said he and Trudeau discussed the full range of India-Canada ties across different sectors.

To a question on Khalistan extremism and “foreign interference”, Trudeau said the issues figured in many conversations he and Prime Minister Modi had.

“Canada will always defend freedom of expression, freedom of conscience, and freedom of peaceful protest and it is extremely important to us,” he said.

“At the same time, we are always there to prevent violence and to push back against hatred. I think on the issue of the community, it is important to remember that the actions of the few do not represent the entire community or Canada,” Trudeau said.

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Rig Veda, Apollo statue, Mona Lisa find place in ‘culture corridor’ of G20 Summit venue

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Certified original copies of the US’ Charters of Freedom, a ‘fahua’-lid jar from China and Panini’s grammar treatise “Ashtadhyayi” from India are among the historic items displayed at the Bharat Mandapam as part of a G20 ‘culture corridor’. The one-of-its-kind project was unveiled on Saturday, coinciding with the opening of the summit.

The exhibition of artefacts — in physical and digital form — has been set up on the same floor where the leaders’ meetings took place. They walked through this corridor while moving into and out of the summit room. The two-day G20 Summit attended by top world leaders ended on Sunday. A New Delhi Leaders’ Declaration was adopted after the meeting on Saturday.

The ‘Culture Corridor – G20 Digital Museum’ was envisioned by the Union Ministry of Culture under India’s presidency of the bloc as a ‘phygital’ project. Manuscripts of the Rig Veda from India, a rare copy of the Magna Carta from the UK and an anamorphic digital image of the Mona Lisa — the 16th century Leonardo da Vinci masterpiece on display at the Louvre in Paris — are among the several artefacts being exhibited at the ‘culture corridor’.

Officials had earlier this month said there was a plan to open the corridor to the public after the summit. “India’s G20 presidency theme is ‘Vasudhaiva Kutumbakum’ and with this international project, we are walking the talk that the world is one family as we will display cultural objects from all 20 members and nine invited countries as part of this ‘culture corridor’, envisioned as a G20 legacy project, a ‘museum in the making’,” a source had earlier said.

As part of this project, conceptualised about six months ago, India asked each G20 member and invited country to make submissions under four categories — physical object of cultural significance, “iconic cultural masterpiece” in digital format, high-resolution digital content depicting the intangible heritage and natural heritage of each of the countries. The physical objects have been loaned for a limited period, the source had said.

As an exhibition themed on the ‘Mother of Democracy’ is being also hosted to mark the summit, a fifth segment was added to the ‘culture corridor’ project in which an “ancient artefact related to democratic practices” in physical or digital format was sought from each G20 member and invited country. In the object of cultural significance category, India has displayed Panini’s “Ashtadhyayi”, the ancient grammar text sourced from the Shri Lal Bahadur Shastri National Sanskrit University, Delhi. In the artefact related to democratic practices category, the Rig Veda manuscript has been displayed.

In the iconic cultural masterpiece category, Bhimbhetka cave paintings from Madhya Pradesh, dating back to approximately 30,000 years, are displayed in digital format, the official had said. In the artefact related to democratic practices category, the US is sharing “original copies of the Charters of Freedom”, certified by the American government.

The Charters of Freedom refer to three historic 18th century documents of the US — the United States Declaration of Independence, Constitution, and the Bill of Rights. After India’s presidency of the G20 ends, “this project will have an afterlife and it will be preserved in a digital form in a portal, also containing digital images of the physical objects,” a source said.

“We will be happy to offer it to countries subsequently assuming presidency (of the bloc),” he added.

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FSB Secretary-General calls for comprehensive regulation of crypto assets amid rising demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In support of the Financial Stability Board’s (FSB) top-level guidance on crypto-assets regulation, G20 leaders, through the Delhi Declaration, have reaffirmed their dedication to vigilant oversight of the swiftly evolving crypto landscape. The Delhi Declaration document underscores the importance of effective and consistent global implementation of these recommendations to prevent regulatory arbitrage.

In a recent interview with CNBC-TV18, John Schindler, Secretary-General of the Financial Stability Board (FSB), stressed the significance of regulating crypto-assets amid increasing global demand. He acknowledged that while countries have the option to ban crypto assets, such bans have often led to a surge in crypto activity, highlighting the need for prudent regulation to mitigate financial system risks.

Schindler commended India’s G20 Presidency for achieving a comprehensive framework for cryptocurrencies, emphasizing its potential impact on the evolving crypto landscape. He praised the inclusivity of perspectives, with contributions from the International Monetary Fund (IMF) and the Financial Action Task Force (FATF), creating a comprehensive regulatory framework.

Schindler also highlighted the framework’s integration of critical elements such as financial stability, macroeconomics, monetary policy, and financial integrity. This holistic approach recognises the potential impact of crypto assets on monetary policy and emphasizes the importance of maintaining financial and market integrity in a crypto-driven economy.

In summary, the G20’s commitment to vigilant crypto regulation, coupled with India’s comprehensive framework, signifies a significant step towards ensuring the responsible and secure integration of cryptocurrencies into the global financial system.

It is crucial to note that G20 nations have acknowledged the need to lead by example in implementing this framework. Schindler emphasized the importance of widespread adoption, saying, “FSB members and the G20 have agreed very much that first they have to lead by example. So that’s going to be an important part.

He further added that if the G20 nations implement the framework but rest of the world doesn’t then the crypto firms are going to find those locations.

“So, what we are working on now is a plan with the IMF and the other standard-setting bodies and international organizations to ensure that we use all of our tools. The FSB has regional consultative groups. We have six of these around the world. The IMF has a very large reach and other tools. So, we are trying to put together a plan to get these recommendations out and implemented to build capacity within the different countries.” he added.

India’s stance on cryptocurrencies has consistently emphasized that effective legislation, whether for regulation or banning, can only be achieved through substantial international cooperation in assessing the associated risks and advantages.

Presently, crypto assets remain unregulated in India, with the government refraining from registering crypto exchanges. Given the borderless nature of crypto assets, their oversight necessitates international collaboration.

The Delhi declaration against the backdrop that crypto-assets could undermine the effectiveness of monetary policy, circumvent capital flow management measures, exacerbate fiscal risks, divert resources available for financing the real economy, and threaten global financial stability suggested for a comprehensive regulatory and supervisory oversight, which it said should be a baseline to address macroeconomic and financial stability risks. The emergence of clear risks necessitates appropriate policy responses, it added.

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ILO’s G20 Sherpa, Richard Samans, advocates for social security coverage for gig workers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Richard Samans, the G20 Sherpa for the International Labour Organization (ILO), in an interview with CNBC-TV18, emphasised that the G20’s New Delhi declaration outlines key policy priorities aimed at extending social protection to workers in the gig and platform economy.

He stressed that even though gig workers may not have formal employee status, it is essential to provide them with some form of social security coverage.

“The declaration was significant and helpful to working people on a number of fronts. I would say that there are some significant outcomes in relation to the agreement on a set of policy priorities for extending social protection to gig and platform economy workers, who in many countries are not covered well by social security systems.

So there is a policy roadmap – a series of actions that countries can pick and choose from but with an agreed, aligned purpose to make sure that those workers even if they are not formal salaried employees, nonetheless are covered by basic social security protections or more is a good step forward,” Samans said.

India achieved a significant diplomatic victory during the G20 summit as the participating countries reached a consensus declaration, effectively addressing major disagreements related to the Russia-Ukraine conflict.

Samans also pointed out that the Indian government placed a strong emphasis on skill development. Moreover, they tasked both the ILO and the Organisation for Economic Co-operation and Development (OECD) with the responsibility of creating a comprehensive jobs and skills database covering all G20 member countries.

“The Indian government right from the very beginning placed a lot of emphasis on skills. Not only investing in skills and improving skills, declaration also provides a policy roadmap for how countries can do that.

India also tasked the ILO and the OECD to fill out a global skills and jobs database to all the G20 countries, so that there is some latest and comparable information to enable countries to modernise and sharpen their skilling strategies,” Samans said.

The G20 Summit for the year 2023, hosted by India, took place in New Delhi from September 9th to 10th. This event marked the conclusion of India’s presidency, with Prime Minister Narendra Modi handing over the leadership to Brazilian President Luiz Inácio Lula da Silva during the closing session. Modi presented the gavel to Brazil and extended his best wishes as they prepared to assume the presidency officially on December 1st of this year.

Watch accompanying video for more.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow