Foreign ministers from around the world will attend the G20 Summit which is taking place in New Delhi. The two day summit starting from today is taking place in the shadow of Russia's war in Ukraine and spiraling U.S.-Chine tensions.

India aims to build consensus at G20 meet

Here we bring you a quick round-up of all latest news and top headlines from all across the globe.

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India's foreign secretary Vinay Mohan Kwatra held a press conference before the G20 Foreign ministers meet. Foreign ministers from around the world will attend the G20 Summit which is taking place in New Delhi.

Indian Foreign Secretary holds press conference ahead of G20 meet

The Russia-Ukraine conflict is likely to cast a shadow over the meeting of the G20 foreign ministers in New Delhi this week, just as it did over the recent conclave of the finance ministers and the governors of the central banks of the bloc’s member nations in Bengaluru.

Russia-Ukraine conflict may overshadow G20 Foreign Ministers' meeting

The plastic consumption of the G20 countries is increasing day by day. According to a report, if nothing is done then there plastic consumption will nearly double by 2050.

Plastic consumption on a rise

Finance chiefs of the world's largest economies strongly condemned Moscow for its war on Ukraine on Saturday, with only China and Russia itself declining to sign a joint statement.

Is G7 influencing the G20 group?

India's bid to come to a consensus within the Group of 20 (G20) nations to ban cryptocurrency hit a roadblock as the nations stopped short of going for an outright ban. They instead agreed to continue an international debate on cryptocurrency regulation, with the final outcome document citing a consideration towards "coordinated and comprehensive policy approach to crypto assets" from &nbsp;"macroeconomic and regulatory perspectives, including the full range of risks posed by crypto assets."

The growing uproar against cryptocurrency is significant following the collapse of cryptocurrency exchange FTX in November shook crypto assets such as bitcoin worldwide.

<h2>India and cryptocurrency regulation</h2>

India's finance minister Nirmala Sitharaman has been tough against cryptocurrencies in her last two annual budgets for the world's fifth largest economy. The Prime Minister Narendra Modi-led administration has asserted its willingness to regulate the cryptocurrency sector. However, in 2020, India's Supreme Court struck down the country's central bank's ban on providing services to cryptocurrency traders.

The Reserve Bank of India has expressed that virtual economic assets pose risk to the stability of the country's overall financial system, a stance that has found support with some constituents of the G-20.

<h2>On crypto regulation, India finds support in Canada, France</h2>

India's finance minister Nirmala Sitharaman said on Saturday that Canada's central bank governor "cautioned that crypto assets should not be given the regulatory seal of approval... without a well thought out approach and framework for implementation."

Earlier, the French Minister of Economy and Finance Bruno Le Maire told reporters on Friday that "France has been advocating for a regulation of cryptocurrencies for many years, explaining that there is a need to protect consumers and to protect financial stability."

ALSO WATCH |&nbsp;Gravitas: Cryptocurrency: New tool for money laundering

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An Asia Nikkei report cited a central banking source as saying that India is trying to make use of the international debate to make a case for tougher cryptocurrency regulations at home.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/indias-push-to-regulate-crypto-get-support-from-imf-us-at-g20-565847">India’s push to regulate cryptocurrencies gets support from IMF, US at G20</a>

The Reserve Bank of India governor Shaktikanta Das said at a news conference on Saturday that "there is now a wide recognition and acceptance of the fact that (crypto assets or products) involve several major risks to financial stability, to monetary systems, to cybersecurity issues ... and they need to be looked at."

"Going forward, the effort is to develop an international framework... to deal with this problem," he said.

The United States has not "suggested outright banning of crypto activities, but it is critical to put in place a strong regulatory framework," U.S. Treasury Secretary Yellen told Reuters on the sidelines of the G-20 meeting. "We are working with other governments."

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India's bid to come to a consensus within the Group of 20 (G20) nations to ban cryptocurrency hit a roadblock as the nations stopped short of going for an outright ban.

India's bid to come to a consensus within the Group of 20 (G20) nations to ban cryptocurrency hit a roadblock as the nations stopped short of going for an outright ban. They instead agreed to continue an international debate on cryptocurrency regulation, with the final outcome document citing a consideration towards "coordinated and comprehensive policy approach to crypto assets" from "macroeconomic and regulatory perspectives, including the full range of risks posed by crypto assets." The growing uproar against cryptocurrency is significant following the collapse of cryptocurrency exchange FTX in November shook crypto assets such as bitcoin worldwide. India and cryptocurrency regulation India's finance minister Nirmala Sitharaman has been tough against cryptocurrencies in her last two annual budgets for the world's fifth largest economy. The Prime Minister Narendra Modi-led administration has asserted its willingness to regulate the cryptocurrency sector. However, in 2020, India's Supreme Court struck down the country's central bank's ban on providing services to cryptocurrency traders. The Reserve Bank of India has expressed that virtual economic assets pose risk to the stability of the country's overall financial system, a stance that has found support with some constituents of the G-20. On crypto regulation, India finds support in Canada, France India's finance minister Nirmala Sitharaman said on Saturday that Canada's central bank governor "cautioned that crypto assets should not be given the regulatory seal of approval... without a well thought out approach and framework for implementation." Earlier, the French Minister of Economy and Finance Bruno Le Maire told reporters on Friday that "France has been advocating for a regulation of cryptocurrencies for many years, explaining that there is a need to protect consumers and to protect financial stability." ALSO WATCH | Gravitas: Cryptocurrency: New tool for money laundering × An Asia Nikkei report cited a central banking source as saying that India is trying to make use of the international debate to make a case for tougher cryptocurrency regulations at home. ALSO READ | India’s push to regulate cryptocurrencies gets support from IMF, US at G20 The Reserve Bank of India governor Shaktikanta Das said at a news conference on Saturday that "there is now a wide recognition and acceptance of the fact that (crypto assets or products) involve several major risks to financial stability, to monetary systems, to cybersecurity issues ... and they need to be looked at." "Going forward, the effort is to develop an international framework... to deal with this problem," he said. The United States has not "suggested outright banning of crypto activities, but it is critical to put in place a strong regulatory framework," U.S. Treasury Secretary Yellen told Reuters on the sidelines of the G-20 meeting. "We are working with other governments." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

G20 finance chiefs meet: India's bid to ban cryptocurrency stopped at consensus for regulation

On Saturday, Moscow accused the West of attempting to force through a common statement on Ukraine that fell through due to disputes, destabilising the G20 finance ministers' conference in Mumbai.

Russia: G20 must remain an economic forum

In the most recent instance, Russia has said that the west 'destabilised' the G20 finance ministers conference in India by attempting to force through a common statement on Ukraine that stopped due to disputes.&nbsp;Nigeria began the vote-counting process,&nbsp;after a closely contested election on Saturday that was plagued by lengthy delays and had three front-runners for the position of president of the country, Nigeria began the vote-counting process.&nbsp;

Click on the headlined to read more.

<a href="https://www.wionews.com/world/russia-accuses-west-of-destabilising-g20-finance-chiefs-meet-in-india-565962">Russia accuses West of 'destabilising' G20 finance chiefs’ meet in India</a>

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Russia has accused the West of “destabilising” the G20 finance chiefs’ meeting that took place in India’s southern Bengaluru city. It blamed the US, EU, and G7 nations for trying to impose their “diktat” as the talks concluded with differences over the Russia-Ukraine conflict.

“We regret that the activities of the G20 continue to be destabilised by the Western collective and used in an anti-Russian... way," the foreign ministry said in a statement on Saturday, reports AFP news agency.

<a href="https://www.wionews.com/world/nigeria-elections-nation-counts-votes-after-tightly-contested-poll-565957">Nigeria elections | Nation counts votes after tightly contested poll</a>

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Nigeria started the vote counting after conducting a tightly contested election on Saturday, as three frontrunners competed for the country's presidency in a ballot hit by long delays.

Around 90 million citizens were eligible to cast vote for the successor of President Muhammadu Buhari, as many Nigerians expected that the new leader will tackle issues of increasing poverty, the sluggish economy and a widening security crisis.&nbsp;

<a href="https://www.wionews.com/world/magnitude-55-earthquake-strikes-central-turkey-region-emsc-565843">Magnitude 5.5 earthquake strikes central Turkey region: EMSC</a>

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The European-Mediterranean Seismological Centre (EMSC) said that a magnitude 5.5 earthquake struck Central Turkey on Saturday. EMSC said that the quake was at a depth of 10 km.&nbsp;

The latest tremors were felt after the death toll from the earthquakes in Turkey and Syria that struck both nations earlier this month surpassed 50,000. Turkey declared more than 44,000 people died.&nbsp;

WATCH |&nbsp;Taiwan attempts to boost its economy after removing Covid curbs

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<a href="https://www.wionews.com/world/watch-us-navy-plane-confronted-by-chinese-fighter-jet-over-south-china-sea-565904">WATCH: US Navy plane confronted and warned by Chinese fighter jet over South China Sea</a>

Chinese fighter jet confronted a US Navy plane amid simmering tension between Washington and Beijing, US media outlets reported on Friday (February 24).&nbsp;

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This was my view of a Chinese J11 fighter jet about 500ft off the wing of a U.S. Navy surveillance plane…that was intercepted today over the South China Sea after stern radio warnings from <a href="https://twitter.com/hashtag/China?src=hash&amp;ref_src=twsrc%5Etfw">#China</a>’s PLA. We’ll take you on board the P8 on <a href="https://twitter.com/NBCNightlyNews?ref_src=twsrc%5Etfw">@NBCNightlyNews</a> <a href="https://twitter.com/NBCNews?ref_src=twsrc%5Etfw">@NBCNews</a>… <a href="https://t.co/knbl4CC7V9">pic.twitter.com/knbl4CC7V9</a>
— Janis Mackey Frayer (@janisfrayer) <a href="https://twitter.com/janisfrayer/status/1629261641396404224?ref_src=twsrc%5Etfw">February 24, 2023</a></blockquote>
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The reports stated that the US Navy plane received a warning over the radio when it had been in the air over the South China Sea for a few hours.&nbsp;

The US plane was 30 miles from the contested Paracel Islands, which is a group of about 130 small atolls - a disputed archipelago. CNN reported that the biggest of which is home to Chinese military bases.&nbsp;

In the most recent instance, Russia has said that the west 'destabilised' the G20 finance ministers conference in India by attempting to force through a common statement on Ukraine that stopped due to disputes.

In the most recent instance, Russia has said that the west 'destabilised' the G20 finance ministers conference in India by attempting to force through a common statement on Ukraine that stopped due to disputes. Nigeria began the vote-counting process, after a closely contested election on Saturday that was plagued by lengthy delays and had three front-runners for the position of president of the country, Nigeria began the vote-counting process. Click on the headlined to read more. Russia accuses West of 'destabilising' G20 finance chiefs’ meet in India Russia has accused the West of “destabilising” the G20 finance chiefs’ meeting that took place in India’s southern Bengaluru city. It blamed the US, EU, and G7 nations for trying to impose their “diktat” as the talks concluded with differences over the Russia-Ukraine conflict. “We regret that the activities of the G20 continue to be destabilised by the Western collective and used in an anti-Russian... way," the foreign ministry said in a statement on Saturday, reports AFP news agency. Nigeria elections | Nation counts votes after tightly contested poll Nigeria started the vote counting after conducting a tightly contested election on Saturday, as three frontrunners competed for the country's presidency in a ballot hit by long delays. Around 90 million citizens were eligible to cast vote for the successor of President Muhammadu Buhari, as many Nigerians expected that the new leader will tackle issues of increasing poverty, the sluggish economy and a widening security crisis. Magnitude 5.5 earthquake strikes central Turkey region: EMSC The European-Mediterranean Seismological Centre (EMSC) said that a magnitude 5.5 earthquake struck Central Turkey on Saturday. EMSC said that the quake was at a depth of 10 km. The latest tremors were felt after the death toll from the earthquakes in Turkey and Syria that struck both nations earlier this month surpassed 50,000. Turkey declared more than 44,000 people died. WATCH | Taiwan attempts to boost its economy after removing Covid curbs WATCH: US Navy plane confronted and warned by Chinese fighter jet over South China Sea Chinese fighter jet confronted a US Navy plane amid simmering tension between Washington and Beijing, US media outlets reported on Friday (February 24). This was my view of a Chinese J11 fighter jet about 500ft off the wing of a U.S. Navy surveillance plane…that was intercepted today over the South China Sea after stern radio warnings from #China’s PLA. We’ll take you on board the P8 on @NBCNightlyNews @NBCNews… pic.twitter.com/knbl4CC7V9 — Janis Mackey Frayer (@janisfrayer) February 24, 2023 × The reports stated that the US Navy plane received a warning over the radio when it had been in the air over the South China Sea for a few hours. The US plane was 30 miles from the contested Paracel Islands, which is a group of about 130 small atolls - a disputed archipelago. CNN reported that the biggest of which is home to Chinese military bases.

Morning brief: Russia accuses west of 'destabilising' G20 finance meet, Nigeria election updates, & more

Russia has accused the West of destabilising the G20 Finance Ministers meeting in India by trying to force through a joint statement on the Russia-Ukraine war. The Russian Foreign Ministry issued a statement that said, 'we regret that the activities of the G20 continues to be destabilised'.

Ukraine Under Attack: EU vows to increase pressure on Moscow; Russia halts oil pipeline to Poland

The first meeting of G20 Finance Ministers in Bengaluru under India's G20 presidency were unable to agree on a joint statement condemning Russia for its war in Ukraine, with China and Russia itself declining to sign. The lack of consensus among G20 members meant India resorting to issuing a chair's summary and outcome document.

War in Ukraine divides G20

Guyana's Vice-President Bharrat Jagdeo is visiting India, he spoke to WION's principal diplomatic correspondent Siddhant Sibbal about the bilateral partnership in the energy sector and about India's role as G20 head.

Guyana Vice-Pres Bharrat Jagdeo talks to WION, says 'we are looking to learn quite a bit from India'

The meeting of the finance ministers for the group of 20 (G20) countries which&nbsp;had convened in the Indian city of Bengaluru ended on Saturday (February 25) without a joint statement. This comes as most G20 member nations condemned the ongoing conflict in Ukraine but China and Russia declined to sign the joint statement. This led India, which was hosting the two-day event to release a “chair’s summary and outcome document” which is said to simply summarise the talks and noted disagreements.&nbsp;

Disagreements at the G20 meeting

The document in question wrote, “most members strongly condemned the war in Ukraine and stressed that it is causing immense human suffering and exacerbating existing fragilities in the global economy.” This was said in the context of supply chain disruptions, risks to financial stability, as well as continuing energy and food insecurity. It also added that there were “different assessments of the situation and sanctions” referring to the ongoing conflict.&nbsp;

This comes as western countries have imposed thousands of sanctions against Russia&nbsp;and&nbsp;some of its citizens&nbsp;since it began what it has described as its “special military operation” in Ukraine, in a bid to starve the country of its revenues. A footnote said that the two paragraphs in the summary about the ongoing conflict “were agreed to by all member countries except Russia and China”.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/german-chancellor-meets-pm-modi-deepening-of-india-germany-ties-in-focus-565780">India ready to contribute to any peace process for resolving Ukraine crisis, says PM Modi</a>

Notably, the paragraphs are said to be adopted from the G20 Bali Leaders’ declaration in November but even at the time China wanted to change the language of the statement and remove the word “war”, reported AFP citing officials who requested anonymity.&nbsp;

Indian finance minister addresses a press conference after the meetings

“Although there was not what we would call a communique, but only an outcome statement, we still think we've made some progress in having all the ministers on board”, said the Indian Finance Minister Nirmala Sitharaman in her concluding remarks, earlier today.&nbsp;

She also addressed that, “Two countries, Russia and China had reservations. So with a footnote certainly a communique can't go out and therefore it had to be a chair summary and an outcome document.”&nbsp;

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/g-20-finance-meet-hosted-by-india-ends-without-a-joint-communique-565934">G20 finance meet, hosted by India, ends without a joint communique</a>

Since the beginning of the conflict, New Delhi has not condemned Moscow and was seen as reluctant to raise the issue at the meeting but the western countries asserted that they could not support any outcome that did not include a condemnation.&nbsp;

Furthermore, Indian Economic Affairs Secretary Ajay Seth refuted the aforementioned claims about Moscow and Beijing wanting to change the language part of the summary and said, “Both Russia and China took the position that Finance Ministers and Central Bank Governors’ mandate is to deal with economic and financial issues and their mandate is not on geo-political issues. So they did not comment on the language part,” as per PTI. He added, “There was no request or demand to remove the word 'war', they just said to remove the paragraph itself because it was not the right place for having those paragraphs.”&nbsp;

Whereas the other 18 countries felt that the ongoing war has got implications for the global economy, which is why this is the right place to have those paragraphs, said the economic affairs minister. The two-day meeting discussed a range of issues which also included debt relief to poorer countries, digital currencies and payments, reforms of lending institutions like the World Bank and International Monetary Fund (IMF) as well as climate change and financial inclusion.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/russia-sanction-regime-after-us-australia-imposes-sanctions-on-russia-565678">Russia-Ukraine war: After US, Australia imposes new sanctions on Moscow</a>

According to the Indian finance minister’s summary, the global outlook has somewhat improved since they last met in October 2022 but global growth remains slow and downside risks to the outlook persist. This was in reference to elevated inflation, a resurgence of the pandemic and tighter financing conditions, which could worsen debt vulnerabilities in emerging economies.&nbsp;

“We, therefore, reiterate the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth and maintain macroeconomic as well as financial stability. We will continue to enhance macro policy cooperation and support the progress towards the 2030 Agenda for Sustainable Development,” said Sitharaman.&nbsp;

India's call for regulating crypto receives support

There was also a discussion surrounding the adequacy of IMF quotas which the document released after the meeting said that the leaders would continue to work on IMF governance reform under the 16th General Review of Quotas which would also include a new quota formula as a guide which would be completed by December 15, 2023.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/indias-push-to-regulate-crypto-get-support-from-imf-us-at-g20-565847">India’s push to regulate cryptocurrencies gets support from IMF, US at G20</a>

Notably, India’s push for regulation of private crypto assets also received support at the meeting. IMF Managing Director Kristalina Georgieva backing New Delhi’s stance on private cryptocurrencies and other digital assets said, “We have to differentiate between central bank digital currencies that are backed by the state and stable coins, and crypto assets that are privately issued.”&nbsp;

She added, “Second, there has to be a very strong push for regulation. And third, if regulation fails, if you’re slow to do it, then we should not take off the table or banning those assets, because they may create financial stability risk”. This comes after Indian officials including the finance ministry and Reserve Bank of India (RBI) has called for strong global regulations for private crypto assets and in some cases, they should be banned.&nbsp;

(With inputs from agencies) 
 
&nbsp;

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The meeting of the finance ministers for the group of 20 (G20) countries which had convened in the Indian city of Bengaluru ended on Saturday (February 25) without a joint statement.

The meeting of the finance ministers for the group of 20 (G20) countries which had convened in the Indian city of Bengaluru ended on Saturday (February 25) without a joint statement. This comes as most G20 member nations condemned the ongoing conflict in Ukraine but China and Russia declined to sign the joint statement. This led India, which was hosting the two-day event to release a “chair’s summary and outcome document” which is said to simply summarise the talks and noted disagreements. Disagreements at the G20 meeting The document in question wrote, “most members strongly condemned the war in Ukraine and stressed that it is causing immense human suffering and exacerbating existing fragilities in the global economy.” This was said in the context of supply chain disruptions, risks to financial stability, as well as continuing energy and food insecurity. It also added that there were “different assessments of the situation and sanctions” referring to the ongoing conflict. This comes as western countries have imposed thousands of sanctions against Russia and some of its citizens since it began what it has described as its “special military operation” in Ukraine, in a bid to starve the country of its revenues. A footnote said that the two paragraphs in the summary about the ongoing conflict “were agreed to by all member countries except Russia and China”. ALSO READ | India ready to contribute to any peace process for resolving Ukraine crisis, says PM Modi Notably, the paragraphs are said to be adopted from the G20 Bali Leaders’ declaration in November but even at the time China wanted to change the language of the statement and remove the word “war”, reported AFP citing officials who requested anonymity. Indian finance minister addresses a press conference after the meetings “Although there was not what we would call a communique, but only an outcome statement, we still think we've made some progress in having all the ministers on board”, said the Indian Finance Minister Nirmala Sitharaman in her concluding remarks, earlier today. She also addressed that, “Two countries, Russia and China had reservations. So with a footnote certainly a communique can't go out and therefore it had to be a chair summary and an outcome document.” ALSO WATCH | G20 finance meet, hosted by India, ends without a joint communique Since the beginning of the conflict, New Delhi has not condemned Moscow and was seen as reluctant to raise the issue at the meeting but the western countries asserted that they could not support any outcome that did not include a condemnation. Furthermore, Indian Economic Affairs Secretary Ajay Seth refuted the aforementioned claims about Moscow and Beijing wanting to change the language part of the summary and said, “Both Russia and China took the position that Finance Ministers and Central Bank Governors’ mandate is to deal with economic and financial issues and their mandate is not on geo-political issues. So they did not comment on the language part,” as per PTI. He added, “There was no request or demand to remove the word 'war', they just said to remove the paragraph itself because it was not the right place for having those paragraphs.” Whereas the other 18 countries felt that the ongoing war has got implications for the global economy, which is why this is the right place to have those paragraphs, said the economic affairs minister. The two-day meeting discussed a range of issues which also included debt relief to poorer countries, digital currencies and payments, reforms of lending institutions like the World Bank and International Monetary Fund (IMF) as well as climate change and financial inclusion. ALSO READ | Russia-Ukraine war: After US, Australia imposes new sanctions on Moscow According to the Indian finance minister’s summary, the global outlook has somewhat improved since they last met in October 2022 but global growth remains slow and downside risks to the outlook persist. This was in reference to elevated inflation, a resurgence of the pandemic and tighter financing conditions, which could worsen debt vulnerabilities in emerging economies. “We, therefore, reiterate the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth and maintain macroeconomic as well as financial stability. We will continue to enhance macro policy cooperation and support the progress towards the 2030 Agenda for Sustainable Development,” said Sitharaman. India's call for regulating crypto receives support There was also a discussion surrounding the adequacy of IMF quotas which the document released after the meeting said that the leaders would continue to work on IMF governance reform under the 16th General Review of Quotas which would also include a new quota formula as a guide which would be completed by December 15, 2023. ALSO READ | India’s push to regulate cryptocurrencies gets support from IMF, US at G20 Notably, India’s push for regulation of private crypto assets also received support at the meeting. IMF Managing Director Kristalina Georgieva backing New Delhi’s stance on private cryptocurrencies and other digital assets said, “We have to differentiate between central bank digital currencies that are backed by the state and stable coins, and crypto assets that are privately issued.” She added, “Second, there has to be a very strong push for regulation. And third, if regulation fails, if you’re slow to do it, then we should not take off the table or banning those assets, because they may create financial stability risk”. This comes after Indian officials including the finance ministry and Reserve Bank of India (RBI) has called for strong global regulations for private crypto assets and in some cases, they should be banned. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

G20 finance meet ends without joint statement after differences over Russia-Ukraine conflict

India’s push to regulate cryptocurrencies gained support from both the International Monetary Fund (IMF) and the United States (US) on Saturday as finance chiefs of the bloc wrap up two-days of talks.&nbsp;

India has earlier said that t wants a collective global effort to deal with problems caused by cryptocurrencies such as bitcoin, and the finance ministry said it had held a seminar for G20 member states to discuss how to come up with a common framework. &nbsp;

U.S. Treasury Secretary Janet Yellen while talking to Reuters said, it was 'critical'&nbsp;to put in place a strong regulatory framework but added that the United States had not suggested any outright bans. &nbsp;

"We haven't suggested outright banning of crypto activities, but it is critical to put in place a strong regulatory framework," Yellen said. "We're working with other governments." &nbsp;

Earlier, IMF Managing Director Kristalina Georgieva,&nbsp;after co-chairing a meeting with Indian Finance Minister Nirmala Sitharaman, told reporters that banning crypto should be an option. &nbsp;

Indian Prime Minister Narendra Modi's government has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme. &nbsp;

Earlier on Thursday, the IMF laid out a nine-point action plan for how countries should treat crypto assets, with point number one a plea not to give cryptocurrencies legal tender status. 
 
Such efforts have become a priority for authorities, the fund said, after the collapse of a number of crypto exchanges and assets over the last couple of years, adding that doing nothing was now "untenable".

(With inputs from agencies)

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India’s push to regulate cryptocurrencies gained support from both the International Monetary Fund (IMF) and the United States (US) on Saturday as finance chiefs of the bloc wrap up two-days of talks.

India’s push to regulate cryptocurrencies gained support from both the International Monetary Fund (IMF) and the United States (US) on Saturday as finance chiefs of the bloc wrap up two-days of talks. India has earlier said that t wants a collective global effort to deal with problems caused by cryptocurrencies such as bitcoin, and the finance ministry said it had held a seminar for G20 member states to discuss how to come up with a common framework. U.S. Treasury Secretary Janet Yellen while talking to Reuters said, it was 'critical' to put in place a strong regulatory framework but added that the United States had not suggested any outright bans. "We haven't suggested outright banning of crypto activities, but it is critical to put in place a strong regulatory framework," Yellen said. "We're working with other governments." Earlier, IMF Managing Director Kristalina Georgieva, after co-chairing a meeting with Indian Finance Minister Nirmala Sitharaman, told reporters that banning crypto should be an option. Indian Prime Minister Narendra Modi's government has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme. Earlier on Thursday, the IMF laid out a nine-point action plan for how countries should treat crypto assets, with point number one a plea not to give cryptocurrencies legal tender status. Such efforts have become a priority for authorities, the fund said, after the collapse of a number of crypto exchanges and assets over the last couple of years, adding that doing nothing was now "untenable". (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

India’s push to regulate cryptocurrencies gets support from IMF, US at G20

US Treasury Secretary Janet L Yellen on Saturday pushed for India to be included in its "friendshoring" strategy to diversify trade away from countries that are present at geopolitical risk and bolster the resilience of supply chains.

Calling India an indispensable partner to the United States, the US official pointed out the strong relations enjoyed by New Delhi and Washington.

"The US is India's biggest trading partner,” Yellen said while addressing a roundtable with US and Indian tech business leaders on the sidelines of G20 Finance Ministers and Central Bank Governors Meeting in southern Bengaluru city, reports PTI news agency.

“In 2021, our bilateral trade was over USD 150 billion. Our people-to-people ties affirm the closeness of our relationship. 200,000 Indians are studying in America and enriching our schools and universities. We depend on each other on a daily basis: Indians use WhatsApp to communicate and many American companies rely on Infosys to operate," she said.

Yellen said that under the Partnership for Global Infrastructure and Investment ( PGII), the US is investing in digital technologies that will drive inclusive, resilient growth in India.

<h2>Nirmala Sitharaman meets US&nbsp;Treasury Secretary Yellen ahead of Bengaluru G20 meet</h2>

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Under PGII initiative, the United States has announced investments in agri-tech to enable climate-smart agricultural production, and in digital payments systems for microentrepreneurs, she said.

"As we look towards the future, I am eager to deepen our ties in the technology sector. The United States is advancing an approach called "friendshoring" to bolster the resilience of our supply chains. We are doing this by strengthening integration with our many trusted trading partners – including India. We are seeing progress; as an example, technology companies like Apple and Google have expanded their phone production in India," she said.

Also read |&nbsp;<a href="https://www.wionews.com/world/turkey-syria-earthquake-death-toll-surpasses-50000-565713">Turkey-Syria earthquake death toll surpasses&nbsp;50,000</a>

The roundtable was attended by top tech industrialists, including Infosys chairman Nandan Nilekani, IBM India managing director Sandip Patel, Intel India country head Nivruti Rai, Foxconn India Country Head Josh Foulger and Wipro chairman Rishad Premji.

Under 'friendshoring', also known as 'allyshoring',&nbsp;a country sources the raw materials, components and even manufactured goods from countries which share its values.&nbsp;In effect, the dependence on the countries considered a "threat" to the stability of the supply chains is slowly reduced.

(With inputs from agencies)

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US Treasury Secretary Janet L Yellen on Saturday pushed for India to be included in its "friendshoring" strategy to diversify trade away from countries that are present at geopolitical risk and bolster the resilience of supply chains.

US Treasury Secretary Janet L Yellen on Saturday pushed for India to be included in its "friendshoring" strategy to diversify trade away from countries that are present at geopolitical risk and bolster the resilience of supply chains. Calling India an indispensable partner to the United States, the US official pointed out the strong relations enjoyed by New Delhi and Washington. "The US is India's biggest trading partner,” Yellen said while addressing a roundtable with US and Indian tech business leaders on the sidelines of G20 Finance Ministers and Central Bank Governors Meeting in southern Bengaluru city, reports PTI news agency. “In 2021, our bilateral trade was over USD 150 billion. Our people-to-people ties affirm the closeness of our relationship. 200,000 Indians are studying in America and enriching our schools and universities. We depend on each other on a daily basis: Indians use WhatsApp to communicate and many American companies rely on Infosys to operate," she said. Yellen said that under the Partnership for Global Infrastructure and Investment ( PGII), the US is investing in digital technologies that will drive inclusive, resilient growth in India. Nirmala Sitharaman meets US Treasury Secretary Yellen ahead of Bengaluru G20 meet Under PGII initiative, the United States has announced investments in agri-tech to enable climate-smart agricultural production, and in digital payments systems for microentrepreneurs, she said. "As we look towards the future, I am eager to deepen our ties in the technology sector. The United States is advancing an approach called "friendshoring" to bolster the resilience of our supply chains. We are doing this by strengthening integration with our many trusted trading partners – including India. We are seeing progress; as an example, technology companies like Apple and Google have expanded their phone production in India," she said. Also read | Turkey-Syria earthquake death toll surpasses 50,000 The roundtable was attended by top tech industrialists, including Infosys chairman Nandan Nilekani, IBM India managing director Sandip Patel, Intel India country head Nivruti Rai, Foxconn India Country Head Josh Foulger and Wipro chairman Rishad Premji. Under 'friendshoring', also known as 'allyshoring', a country sources the raw materials, components and even manufactured goods from countries which share its values. In effect, the dependence on the countries considered a "threat" to the stability of the supply chains is slowly reduced. (With inputs from agencies) WATCH WION LIVE HERE

US Treasury Secretary Yellen pushes for India’s inclusion in ‘friendshoring’ strategy

Prime Minister Narendra Modi urged for the reform of international lenders like the World Bank as G20 finance ministers and central bank leaders gathered for talks in Bengaluru on Friday.

PM Modi calls for World Bank reform at G20 finance meet

The US Treasury Secretary Janet Yellen called for fresh economic sanctions on Moscow on Thursday (February 23) and also said that the world must increase financial support to the war-ravaged Ukraine and help in its fight against Russian aggression.&nbsp;

While speaking in India on the eve of the Russia-Ukraine war anniversary, Yellen said that this is high time for the International Monetary Fund (IMF) to "move swiftly" towards a fully financed loan programme for Ukraine.&nbsp;

The ongoing war, which Moscow calls a "special military operation" and an attempt for "de-Nazification" of Ukraine, led to massive crises, affecting millions globally.&nbsp;

During her address, Yellen said, "As President Biden has said, we will stand with Ukraine in its fight – for as long as it takes. Continued, robust support for Ukraine will be a major topic of discussion during my time here in India."&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/on-paks-economic-challenges-jaishankars-basic-industry-is-terror-remark-565178">On Pak's economic challenges, Jaishankar's 'basic industry is terror' remark</a>&nbsp;

Ukrainian Prime Minister Denys Shmyhal met IMF Managing Director Kristalina Georgieva in Kyiv on Monday. After the meeting, Shmyhal said that the war-torn nation had sought a $15 billion multi-year IMF loan programme.&nbsp;

Mentioning the financial and humanitarian aid to Ukraine sent by the US, Yellen said that the aid totalling $46 billion helped the country to preserve economic and financial stability under "extraordinary circumstances".&nbsp;

She said, "Our economic assistance is making Ukraine’s resistance possible by supporting the home front: funding critical public services and helping keep the government running. In the coming months, we expect to provide around $10 billion in additional economic support for Ukraine."&nbsp;

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<h2>Call for fresh sanctions on Russia&nbsp;</h2>

Yellen told reporters in Bengaluru that fresh sanctions must be imposed on Russia as they are hurting the nation. Her remarks came after the US Treasury Secretary and other G7 finance chiefs discussed further measures to help Ukraine.&nbsp;

Yellen said, "The way I see it, our sanctions have had a very significant negative effect on Russia so far. While by some measures the Russian economy has held up better than might initially have been expected, Russia is now running a significant budget deficit."&nbsp;

Yellen said that the export controls were making it "extremely difficult" for Moscow to replenish its munitions, including repairing 9,000 tanks destroyed in the war.&nbsp;

She said, "We see that it has led to an exodus of some of the most qualified scientists and entrepreneurs in the Russian economy, and an exodus of foreign investment."&nbsp;

"Russia is running down its holdings in its sovereign wealth fund so... the price cap that we have put on Russian oil is clearly substantially reducing Russia's revenues," she added.&nbsp;

On Friday (February 24), the day Russia started the invasion last year, Yellen will be joined by other finance ministers and heads of central banks from the Group of 20 nations for a crucial meeting in India.&nbsp;

(With inputs from agencies)&nbsp;

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The US Treasury Secretary Janet Yellen called for fresh economic sanctions on Moscow on Thursday (February 23) and also said that the world must increase financial support to the war-ravaged Ukraine and help in its fight against Russian aggression.

The US Treasury Secretary Janet Yellen called for fresh economic sanctions on Moscow on Thursday (February 23) and also said that the world must increase financial support to the war-ravaged Ukraine and help in its fight against Russian aggression. While speaking in India on the eve of the Russia-Ukraine war anniversary, Yellen said that this is high time for the International Monetary Fund (IMF) to "move swiftly" towards a fully financed loan programme for Ukraine. The ongoing war, which Moscow calls a "special military operation" and an attempt for "de-Nazification" of Ukraine, led to massive crises, affecting millions globally. During her address, Yellen said, "As President Biden has said, we will stand with Ukraine in its fight – for as long as it takes. Continued, robust support for Ukraine will be a major topic of discussion during my time here in India." ALSO READ | On Pak's economic challenges, Jaishankar's 'basic industry is terror' remark Ukrainian Prime Minister Denys Shmyhal met IMF Managing Director Kristalina Georgieva in Kyiv on Monday. After the meeting, Shmyhal said that the war-torn nation had sought a $15 billion multi-year IMF loan programme. Mentioning the financial and humanitarian aid to Ukraine sent by the US, Yellen said that the aid totalling $46 billion helped the country to preserve economic and financial stability under "extraordinary circumstances". She said, "Our economic assistance is making Ukraine’s resistance possible by supporting the home front: funding critical public services and helping keep the government running. In the coming months, we expect to provide around $10 billion in additional economic support for Ukraine." × Call for fresh sanctions on Russia Yellen told reporters in Bengaluru that fresh sanctions must be imposed on Russia as they are hurting the nation. Her remarks came after the US Treasury Secretary and other G7 finance chiefs discussed further measures to help Ukraine. Yellen said, "The way I see it, our sanctions have had a very significant negative effect on Russia so far. While by some measures the Russian economy has held up better than might initially have been expected, Russia is now running a significant budget deficit." Yellen said that the export controls were making it "extremely difficult" for Moscow to replenish its munitions, including repairing 9,000 tanks destroyed in the war. She said, "We see that it has led to an exodus of some of the most qualified scientists and entrepreneurs in the Russian economy, and an exodus of foreign investment." "Russia is running down its holdings in its sovereign wealth fund so... the price cap that we have put on Russian oil is clearly substantially reducing Russia's revenues," she added. On Friday (February 24), the day Russia started the invasion last year, Yellen will be joined by other finance ministers and heads of central banks from the Group of 20 nations for a crucial meeting in India. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Janet Yellen calls for fresh sanctions on Russia as G20 finance chiefs gather in India

WION examines global issues with in-depth analysis and brings you a quick round-up of all the top headlines and breakings from all across the world.

WION Speed News: Meeting of finance ministers of G20 countries underway

India has reiterated its stance on the ongoing war in Ukraine at the G20 finance meeting. India said that the present era is 'Not an era of war'. Watch here.

'Not an era of war' says India at G20 finance meet

G20 Sherpa Amitabh Kant and United Nations Resident Coordinator Shombi Sharp today [17th Feb] attended the Model G20 Discussion - 'Youth For LiFE' in Delhi, India.

India: G20 Sherpa Amitabh Kant, UN Resident Coordinator attend Model G20 discussion

To help debt-ridden countries in the G20 bloc who have been unable to recover from the post-pandemic economic shocks and the Russia-Ukraine war, India is drafting a proposal whereby it will call upon the credit lending nations like China to take a large haircut on loans.&nbsp;According to Reuters news agency, which has quoted two Indian officials, a meeting will be held in Bengaluru city of India's southern state Karnataka next week where finance ministers and central bank chiefs from the Group of 20 will assemble to hold discussions on the draft.

The gathering will be the first major event of India's one-year presidency of the G20.

It is believed that China and other G20 countries are aware that India is working on the proposal, the officials were quoted as saying. One of the Indian officials said that India is expecting United States to back its proposal.

China's Ministry of Foreign Affairs did not react on the matter when it was reached out for a comment. Its spokesperson Wang Wenbin during a news conference on Tuesday talked about the difficulties faced by countries in servicing their debts.

"China takes the debt issue of developing countries seriously and supports relevant financial institutions to put forward solutions. It is our consistent stance that multilateral financial institutions and commercial creditors, which hold the bulk of the debt of developing countries, should participate in the debt relief efforts," he said.

The proposal comes in the wake of Pakistan and Sri Lanka, two of India’s neighbours, facing one of their worst economic crises. They have been seeking international help to tide over foreign currency shortage to pay for vital imports.

Recently, India and Paris Club of creditors supported Sri Lanka's debt restructuring plan as the bankrupt nation sought a $2.9 billion loan.

China’s Export-Import Bank of China has also offered a two-year moratorium on its debt to Sri Lanka and said that it would support the country's efforts to secure an IMF programme.

(With inputs from agencies)

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To help debt-ridden countries in the G20 bloc who have been unable to recover from the post-pandemic economic shocks and the Russia-Ukraine war, India is drafting a proposal whereby it will call upon the credit lending nations like China to take a large haircut on loans.

To help debt-ridden countries in the G20 bloc who have been unable to recover from the post-pandemic economic shocks and the Russia-Ukraine war, India is drafting a proposal whereby it will call upon the credit lending nations like China to take a large haircut on loans. According to Reuters news agency, which has quoted two Indian officials, a meeting will be held in Bengaluru city of India's southern state Karnataka next week where finance ministers and central bank chiefs from the Group of 20 will assemble to hold discussions on the draft. The gathering will be the first major event of India's one-year presidency of the G20. It is believed that China and other G20 countries are aware that India is working on the proposal, the officials were quoted as saying. One of the Indian officials said that India is expecting United States to back its proposal. China's Ministry of Foreign Affairs did not react on the matter when it was reached out for a comment. Its spokesperson Wang Wenbin during a news conference on Tuesday talked about the difficulties faced by countries in servicing their debts. "China takes the debt issue of developing countries seriously and supports relevant financial institutions to put forward solutions. It is our consistent stance that multilateral financial institutions and commercial creditors, which hold the bulk of the debt of developing countries, should participate in the debt relief efforts," he said. The proposal comes in the wake of Pakistan and Sri Lanka, two of India’s neighbours, facing one of their worst economic crises. They have been seeking international help to tide over foreign currency shortage to pay for vital imports. Recently, India and Paris Club of creditors supported Sri Lanka's debt restructuring plan as the bankrupt nation sought a $2.9 billion loan. China’s Export-Import Bank of China has also offered a two-year moratorium on its debt to Sri Lanka and said that it would support the country's efforts to secure an IMF programme. (With inputs from agencies) WATCH WION LIVE HERE

India working on proposal for China, other lending nations to take haircut on given loans: Report

India’s capital New Delhi is all set to host the G20 food festival. The event will feature cuisines from all G20 member states. The two day festival will be held on 11-12 February. Watch this to know more.

Delhi to host G20 food festival on Feb 11, 12

The G 20 education working group began its deliberations at India's Chennai. The meeting was inaugurated by Union Minister of State Dr L. Murugan.

WION Dispatch: 1st G20 Education working group meeting begins in India

Chennai is all set to host the first G20 Education Working Group meeting on February 1 and 2 and as a precursor, a seminar on the ‘Role of Digital Technology in Education’ - a unique initiative under India’s Presidency, was held at the IIT Madras Research Park. K.S. Murthy, Union education secretary, G20 speaks to WION on this.

Exclusive: K.S. Murthy, Union education secretary, G20 India speaks to WION

India's Minister of External Affairs (MEA), Subrahmanyam Jaishankar on Saturday (January 28) launched 'Bharat Marg', the Marathi translation of his book 'The India Way' in Pune, a popular city in the Indian state of Maharashtra.&nbsp;During the launch, Jaishankar said that the global south and developing nations are "feeling the pain" and India must stand for them while most of the developed nations are looking only at their concerns.&nbsp;

He said, "Today, the developing world, the south is feeling the pain. The south is seeing food shortage, the south is seeing fuel shortage and sometimes they cannot afford things. So somebody should speak up for them."&nbsp;

Jaishankar said that Indian Prime Minister Narendra Modi has decided that India must take this responsibility as most of the developed countries are only looking at their concerns.&nbsp;

He said, "Our G20 must be G20 for the whole world. We must stand for the south. When I say 'we need to stand for the south' it is not just for the sake of saying it but do it through actions."&nbsp;

"We decided to meet with them. For two days, five-six ministers and the Prime Minister himself took a whole day to meet our counterparts and we consulted more than 120 countries," he added.&nbsp;

<h2>Jaishankar on Indus Water Treaty&nbsp;</h2>

Jaishankar also weighed in on the Indus Water Treaty (IWT) and said that is a technical matter. He further mentioned that Indus commissioners of both countries will talk to each other on this issue.&nbsp;

Jaishankar didn't comment on being asked about India's stance on current developments in Pakistan. He said, "In this (Indus Water) treaty, there are commissioners from both countries (India and Pakistan)."&nbsp;

It is a technical matter and Indus commissioners will talk to each other and after that, we can see what would be the next step," Jaishankar added.&nbsp;

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India's Minister of External Affairs (MEA), Subrahmanyam Jaishankar on Saturday (January 28) launched 'Bharat Marg', the Marathi translation of his book 'The India Way' in Pune, a popular city in the Indian state of Maharashtra.

India's Minister of External Affairs (MEA), Subrahmanyam Jaishankar on Saturday (January 28) launched 'Bharat Marg', the Marathi translation of his book 'The India Way' in Pune, a popular city in the Indian state of Maharashtra. During the launch, Jaishankar said that the global south and developing nations are "feeling the pain" and India must stand for them while most of the developed nations are looking only at their concerns. He said, "Today, the developing world, the south is feeling the pain. The south is seeing food shortage, the south is seeing fuel shortage and sometimes they cannot afford things. So somebody should speak up for them." Jaishankar said that Indian Prime Minister Narendra Modi has decided that India must take this responsibility as most of the developed countries are only looking at their concerns. He said, "Our G20 must be G20 for the whole world. We must stand for the south. When I say 'we need to stand for the south' it is not just for the sake of saying it but do it through actions." "We decided to meet with them. For two days, five-six ministers and the Prime Minister himself took a whole day to meet our counterparts and we consulted more than 120 countries," he added. Jaishankar on Indus Water Treaty Jaishankar also weighed in on the Indus Water Treaty (IWT) and said that is a technical matter. He further mentioned that Indus commissioners of both countries will talk to each other on this issue. Jaishankar didn't comment on being asked about India's stance on current developments in Pakistan. He said, "In this (Indus Water) treaty, there are commissioners from both countries (India and Pakistan)." It is a technical matter and Indus commissioners will talk to each other and after that, we can see what would be the next step," Jaishankar added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India should stand for countries in south and developing world as they are feeling pain: Jaishankar

The Indian Institutes of Technology (IIT) and other Indian academia have to make a major contribution in emerging countries by focusing on providing free education and low-cost certification in technical courses, said representatives of academia and research groups.

They were referring to the&nbsp;National Programme on Technology Enhanced Learning (NPTEL), which&nbsp;has the world's largest online repository of courses in basic sciences, engineering, humanities, and social sciences subjects.

Created by seven IITs and the Indian Institute of Science, the NPTEL has over 56,000 hours of video content and is said to be the most accessed library of peer-reviewed educational content in the world.&nbsp;Since 2014,&nbsp;NPTEL has been offering open online courses, along with certificates from the IITs/IISc for those who successfully complete the course. The courses are free for enrolment and learning, however,&nbsp; the certification examination conducted upon course completion is optional and has a fee.

Prof. Subash S,&nbsp;faculty&nbsp;of Department of Humanities and Social Sciences, IIT Madras, explained to WION that the massively open online courses (MOOC) model can be replicated in the global south. "Open platforms built by academia can enhance the skill of the aspirants who haven't been able to make it to top institutions or afford an education there. It not only up-skills the youth, but also makes them future-ready," he said.&nbsp;

Dr&nbsp;Seshadri Chari, member of&nbsp;Governing Board and Governing Council, RIS, told WION that India has missed the bus during the first, second, and third iterations of the Industrial Revolution and that the country is better poised to handle the Fourth Industrial Revolution. He attributed this statement to the changes in academic curricula, emphasis on research than mere theory, and the scaling up of institutions focused on technology, life sciences, medical research etc.&nbsp;

He reasoned that the startups and Micro Small &amp; Medium Industries are getting strengthened and growing in numbers, and openng&nbsp;up vast opportunities for those graduating from IITs and academia. Regarding India's ability to contribute to emerging nations, he said that India promotes the idea of development partnership (as opposed to development aid) and is a participant in the growth of other countries, and can help create a combination of skill and wealth.

As part of the 'G20 University Connect' Lecture Series, members of the academia and researchers had addressed school and college students from across backgrounds&nbsp;at the IIT-Madras campus in Chennai. They had explained the significance of India having assumed the presidency of the G20 this year and the impact that it would have. The students were also sensitised about the processes involved and how youth could contribute to the larger efforts.&nbsp;

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The Indian Institutes of Technology (IIT) and other Indian academia have to make a major contribution in emerging countries by focusing on providing free education and low-cost certification in technical courses, said representatives of academia and research groups.

The Indian Institutes of Technology (IIT) and other Indian academia have to make a major contribution in emerging countries by focusing on providing free education and low-cost certification in technical courses, said representatives of academia and research groups. They were referring to the National Programme on Technology Enhanced Learning (NPTEL), which has the world's largest online repository of courses in basic sciences, engineering, humanities, and social sciences subjects. Created by seven IITs and the Indian Institute of Science, the NPTEL has over 56,000 hours of video content and is said to be the most accessed library of peer-reviewed educational content in the world. Since 2014, NPTEL has been offering open online courses, along with certificates from the IITs/IISc for those who successfully complete the course. The courses are free for enrolment and learning, however, the certification examination conducted upon course completion is optional and has a fee. Prof. Subash S, faculty of Department of Humanities and Social Sciences, IIT Madras, explained to WION that the massively open online courses (MOOC) model can be replicated in the global south. "Open platforms built by academia can enhance the skill of the aspirants who haven't been able to make it to top institutions or afford an education there. It not only up-skills the youth, but also makes them future-ready," he said. Dr Seshadri Chari, member of Governing Board and Governing Council, RIS, told WION that India has missed the bus during the first, second, and third iterations of the Industrial Revolution and that the country is better poised to handle the Fourth Industrial Revolution. He attributed this statement to the changes in academic curricula, emphasis on research than mere theory, and the scaling up of institutions focused on technology, life sciences, medical research etc. He reasoned that the startups and Micro Small & Medium Industries are getting strengthened and growing in numbers, and openng up vast opportunities for those graduating from IITs and academia. Regarding India's ability to contribute to emerging nations, he said that India promotes the idea of development partnership (as opposed to development aid) and is a participant in the growth of other countries, and can help create a combination of skill and wealth. As part of the 'G20 University Connect' Lecture Series, members of the academia and researchers had addressed school and college students from across backgrounds at the IIT-Madras campus in Chennai. They had explained the significance of India having assumed the presidency of the G20 this year and the impact that it would have. The students were also sensitised about the processes involved and how youth could contribute to the larger efforts. WATCH WION LIVE HERE:

IITs, Indian academia can offer open-source online education to G20 emerging nations, say experts

Italy's ambassador to India, Vincenzo de Luca, has said that his country will contribute to the success of the Indian Presidency of the G20 and welcomed India for raising the issues of the Global South.

Italy's ambassador to India, Vincenzo de Luca, has said that his country will contribute to the success of the Indian Presidency of the G20 and welcomed India for raising the issues of the Global South. Speaking to our diplomatic correspondent Sidhant Sibal, Ambassador Vincenzo said, "I think the Indian presidency will provide a further boost to the agenda of G20, we launched some items in Rome, like the fight against the pandemic." India is the President of the G20 grouping this year and will be hosting the summit in September and the foreign minister meeting in March. This is the first time India is hosting the G20 summit since the group started meeting at the summit level after the 2008 financial crisis. Italy hosted the G20 summit in 2021. The ambassador also spoke on the bilateral aspect of the relationship. He pointed out that both countries can work on defence, green transition and shaping a "new vision of the Indo-Pacific". WION: What will be the key focus for the Italian embassy this year, especially when it comes visit of the Italian cricket team? Vincenzo de Luca: It is an ambitious project to have a match between the Italian cricket team and the Indian one, of course, the Indian one is much better than ours but maybe in football we can do the same. But I would say, this year all our cultural events, also in the economic sphere will very much contribute to the G20 agenda, bilateral trade, and relations. This year, the year of the 75th anniversary of the diplomatic relations between Italy and India and contributed several things. Have presented a very big programme of events all over India, not only in Delhi but Mumbai, Kolkata, Bengaluru, and many states. We will give us contribute to the success of the G20 Presidency of India and try to have more people-to-people connections between Italy and India. WION: India is hosting the G20. How can Italy strengthen the Indian presidency of G20, what hopes do you have? Vincenzo de Luca: I think the Indian presidency will provide a further boost to the agenda of G20, we launched some items in Rome, like the fight against the pandemic, contribution to climate change negotiation, reform of financial institutions to make these financial institutions more effective, more coordinated and also we are interested in point raised by India in the agenda of G20, that is Global South. I think we are aware of the issues between the north and south of the world. Working in Africa would like more initiatives between Europe and Africa. Our part will do an important part in this direction. WION: On the bilateral component, what are the big-ticket deliverables we can see in the relationship, and can we expect a visit from the Italian PM? Vincenzo de Luca: There was an invitation to our prime minister when there was a meeting in Bali, and we have seen a dramatic increase in the number of visits at the top level. I think, in two fields, we can think we can have further progress. One is energy transition and green economy and the other is the defence industry. We would also like to contribute to India and shape a new vision of the Indo-Pacific, on connectivity, maritime security, and energy transition. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Italy will contribute to the success of Indian Presidency of G20: Ambassador Vincenzo de Luca

Vincenzo de Luca, the ambassador of Italy to India, has stated that his nation will support India's G20 Presidency and has praised it for bringing up concerns affecting the developing world.

Italian Envoy: Will contribute to India's G20 Presidency success

Guyana President Irfaan Ali has lauded India for its "leadership" amid the covid pandemic, as the nation provided vaccines to the world.&nbsp;

Under India's Vaccine Maitri initiative, Covid vaccines were sent to more than 100 countries including Guyana. Speaking to WION's diplomatic correspondent Sidhant Sibal, President Ali said, "During the pandemic, we saw that most countries opted for more inward-looking policies...India demonstrated full commitment to multilateralism when facing the same challenge, they extended their support to the world through vaccines."

The president of Guyana, who has an Indian origin, was on a visit to India last week during which he toured six Indian cities.&nbsp;

His trip to India began in Indore where he attended the 17th Pravasi Bharatiya Divas convention and received the Pravasi Bharatiya Samman award.&nbsp;

Calling India a "motherland", the president said, "India's voice, as chair of the G20, must be one that calls for re-ordering of priorities and ensures climate, food and social justice.” India is the chair of the G20 and will be hosting the summit in September.

ALSO READ| <a href="https://www.wionews.com/india-news/india-takes-g20-presidency-at-critical-time-will-provide-solutions-says-chief-coordinator-harsh-shringla-549951">"India takes G20 Presidency at critical time, will provide solutions," says Chief Coordinator Harsh Shringla</a>

The president also spoke on defence co-operation with India, energy exports and the impact of the Russia-Ukraine conflict on his country.&nbsp;

India-Guyana relations

"There is tremendous opportunity ahead and Guyana intends to work closely with India as a strong and strategic bilateral partner in pursuing the ambitions of both countries, to create a more peaceful world,” the president said.

"Guyana is working with India in championing many issues. We are part of the solar alliance, we are working with India on many renewable projects, and we are working with India on energy and food security. By supporting the commonality of the objectives, to create better work, we are actually supporting the vision of PM Modi, especially when he leads the G20,” he added.

On rise of India

"India is leading the G20, as we speak today. India is also one of the fastest-growing economies. India is projected to be the third-largest economy by 2030. India has been leading in the area of technology, food production, and human resource for some time now,” the president said, emphasising how PM Modi's objective of creating one policy which includes all of India's development aspirations, is similar to what government of Guyana has been seeking.

Vaccine Maitri

"During the pandemic, we saw most countries opt for more inward-looking policies, isolating themselves and protecting themselves first. India demonstrated full commitment to multilateralism when facing the same challenge, as they extended their support to the world through vaccines. India has demonstrated that it is ready and willing to provide better leadership in the world,” he said.

His India connection

"India is our motherland..,” the president said.&nbsp;

WATCH| Gravitas: India takes charge of G20 Presidency

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-india-takes-charge-of-g20-presidency-534875/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Voice of the global south summit

"Global south summit is coming at an important time. What we have to do is find a commonality of strategy in addressing important questions. The developing world is faced with increased burden of the climate crisis, food security, energy security amid high cost of energy globally, imported inflation, supply chain crisis and this is dismantling the economies of many developing countries,” he said.&nbsp;

Oil exports to India

"Focus of discussion on the oil and gas sector is to find synergy. To see how we can advance a govt-to-govt model that will create a win-win position. We have agreed to set up two technical teams and those teams will examine all the possibilities in the sale of crude, direct investment in exploration, and govt to govt collaboration in exploration and operation. The technical team will go to work immediately and will submit the report which will help determine options for a balanced framework,” President Irfaan Ali.&nbsp;

Defence co-operation

"We are in a process of modernising our military. We are examining all possibilities that are available to us in hardware and military supply from India. More importantly, we have already embarked on closer and elaborate co-operation, military to military co-operation with India. We have a number of our officers being trained in India now," he said.

Guyana's economic progress

"Guyana is blessed with many natural resources because of which we have access to a market of 200 million people. We are building an economy that stands on different pillars and a wide array of opportunities,” he added.

Support for India's bid at UNSC

"We have already communicated to India, officially, Guyana has no objection in supporting India,” the president reiterated.&nbsp;

Climate change

"We live in a world in which climate change is leading to a disastrous impact. We need to find money to build our defences and build dykes, who is going to find that capital for us. The problem we face with debt issue is lack of cheap capital,” the president said.&nbsp;

West's Climate Change commitments

"(Failed) Totally, not accidentally, but totally. What we have seen is that many of the loans are not concessional. Even new loans for adaptation and mitigation. So how are you supporting small island developing states,” he quizzed.&nbsp;

WATCH WION LIVE HERE:&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Guyana President Irfaan Ali has lauded India for its "leadership" amid the covid pandemic, as the nation provided vaccines to the world. Under India's Vaccine Maitri initiative, Covid vaccines were sent to more than 100 countries including Guyana.

Guyana President Irfaan Ali has lauded India for its "leadership" amid the covid pandemic, as the nation provided vaccines to the world. Under India's Vaccine Maitri initiative, Covid vaccines were sent to more than 100 countries including Guyana. Speaking to WION's diplomatic correspondent Sidhant Sibal, President Ali said, "During the pandemic, we saw that most countries opted for more inward-looking policies...India demonstrated full commitment to multilateralism when facing the same challenge, they extended their support to the world through vaccines." The president of Guyana, who has an Indian origin, was on a visit to India last week during which he toured six Indian cities. His trip to India began in Indore where he attended the 17th Pravasi Bharatiya Divas convention and received the Pravasi Bharatiya Samman award. Calling India a "motherland", the president said, "India's voice, as chair of the G20, must be one that calls for re-ordering of priorities and ensures climate, food and social justice.” India is the chair of the G20 and will be hosting the summit in September. ALSO READ| "India takes G20 Presidency at critical time, will provide solutions," says Chief Coordinator Harsh Shringla The president also spoke on defence co-operation with India, energy exports and the impact of the Russia-Ukraine conflict on his country. India-Guyana relations "There is tremendous opportunity ahead and Guyana intends to work closely with India as a strong and strategic bilateral partner in pursuing the ambitions of both countries, to create a more peaceful world,” the president said. "Guyana is working with India in championing many issues. We are part of the solar alliance, we are working with India on many renewable projects, and we are working with India on energy and food security. By supporting the commonality of the objectives, to create better work, we are actually supporting the vision of PM Modi, especially when he leads the G20,” he added. On rise of India "India is leading the G20, as we speak today. India is also one of the fastest-growing economies. India is projected to be the third-largest economy by 2030. India has been leading in the area of technology, food production, and human resource for some time now,” the president said, emphasising how PM Modi's objective of creating one policy which includes all of India's development aspirations, is similar to what government of Guyana has been seeking. Vaccine Maitri "During the pandemic, we saw most countries opt for more inward-looking policies, isolating themselves and protecting themselves first. India demonstrated full commitment to multilateralism when facing the same challenge, as they extended their support to the world through vaccines. India has demonstrated that it is ready and willing to provide better leadership in the world,” he said. His India connection "India is our motherland..,” the president said. WATCH| Gravitas: India takes charge of G20 Presidency Voice of the global south summit "Global south summit is coming at an important time. What we have to do is find a commonality of strategy in addressing important questions. The developing world is faced with increased burden of the climate crisis, food security, energy security amid high cost of energy globally, imported inflation, supply chain crisis and this is dismantling the economies of many developing countries,” he said. Oil exports to India "Focus of discussion on the oil and gas sector is to find synergy. To see how we can advance a govt-to-govt model that will create a win-win position. We have agreed to set up two technical teams and those teams will examine all the possibilities in the sale of crude, direct investment in exploration, and govt to govt collaboration in exploration and operation. The technical team will go to work immediately and will submit the report which will help determine options for a balanced framework,” President Irfaan Ali. Defence co-operation "We are in a process of modernising our military. We are examining all possibilities that are available to us in hardware and military supply from India. More importantly, we have already embarked on closer and elaborate co-operation, military to military co-operation with India. We have a number of our officers being trained in India now," he said. Guyana's economic progress "Guyana is blessed with many natural resources because of which we have access to a market of 200 million people. We are building an economy that stands on different pillars and a wide array of opportunities,” he added. Support for India's bid at UNSC "We have already communicated to India, officially, Guyana has no objection in supporting India,” the president reiterated. Climate change "We live in a world in which climate change is leading to a disastrous impact. We need to find money to build our defences and build dykes, who is going to find that capital for us. The problem we face with debt issue is lack of cheap capital,” the president said. West's Climate Change commitments "(Failed) Totally, not accidentally, but totally. What we have seen is that many of the loans are not concessional. Even new loans for adaptation and mitigation. So how are you supporting small island developing states,” he quizzed. WATCH WION LIVE HERE:

Guyana President Irfaan Ali lauds India's leadership amid Covid pandemic

Chief Coordinator for India's G20 Presidency Harsh Shringla said on Thursday (January&nbsp;5) that New Delhi has taken over the presidency of G20 at a 'critical time' and that this is a time of "great deal of uncertainty, political, economic, security-related uncertainty." Shringla said that the focus will be on solution.

He was speaking exclusively with WION's Principal Diplomatic Correspondent Sidhant Sibal.

Shringla explained that "rest of the world looks to the G20 to provide solutions to many of the challenges that confront them, from issues like indebtedness, inflation, paying high prices for basic necessities like fuel, food".

India took over the Presidency of the grouping on December 1, 2022 and will host the mega summit in September this year. Along with the summit, India will also host over 200 meetings in 57 different locations. The mega grouping represents more than 80 percent of world GDP, 75 percent of international trade and 60 percent of the world population.

The chief coordinator pointed that,"For every working level meeting you will have a cabinet minister who will go and address the group at the opening session, You also have the cultural event, formal dinner that is part of the process and in every state the governor, the CM". He also talked about India's role on Russia-Ukraine conflict, reforms at UN, and logistics involved in hosting of the yearlong Presidency.&nbsp;

WION: What will be the key focus for India? And what does it plan to achieve during its presidency?

Harsh Vardhan Shringla: When you talk about the broad priority for India's presidency, the PM referred to them during his Bali G20 summit speech in November last year. He essentially outlined that our priorities would include accelerated, inclusive and resilient growth. After all, growth and the need to stimulate growth is a priority not only in the G20 but also countries in the developing world.&nbsp;

The world is feeling the pressure of inflation, supply chain disruption, increasing cost of fuel, fertilizer, food. We need to ensure growth on a global basis. So one of our priorities as outlined by PM Modi is to accelerate growth but it should be inclusive, sustainable and lasting.&nbsp;

Other priority was Sustainable Development Goals (SDGs). As you know we are in the middle of that process. It was endorsed by the UN and the international community and these were areas that cover socio-economic development, important areas for any country.&nbsp;

In today's context, in a post-Covid era, the current problems which are the result of the Ukraine conflict, clearly impact on the economies across the world. So how the world works together under the auspices of the G20 to ensure sustainable development goals are achieved will be in focus.&nbsp;

We have also focused on the issue of green development, climate financing and lifestyle for the environment. These have been important priorities for India. India has prioritised the transition to cleaner, greener energy and we have made very significant commitment at COP26 in Glasgow and more recently at COP27 under our nationally determined contribution but at the same what we are saying is that we need to address issues that will enable developing countries to achieve these commitments and goals through climate financing, climate justice and the same time we have work as global societies towards more sustainable lifestyle.&nbsp;

The PM spoke about the fact that in India for centuries, we have been focusing on the lifestyle that has been more harmonious with nature, like reuse of items, like how to ensure that there is sustainability in what we do. Sustainable consumption, and sustainable production which is also part of the SDGs and lifestyle for environment, endorsed by the United Nations Secretary-General.

It is a concept we would like to promote within the G20 and through the G20 to the rest of the world. Besides that, we are looking into digital transformations. India has taken a lead in using digital platforms for the benefit for our people especially more vulnerable parts of the society. Getting direct benefits straight to the actual beneficiary has been the most effective part of our developmental achievements but at the same time, we use digital platforms to administer vaccines via the Cowin platform. We have used Arogya Setu. It is very significant that today India is leading the world in digital inclusive payments, so financial inclusion is an important part of our priorities.&nbsp;

We are also looking to reform multilateral institutions, specifically the Bretton Woods institutions, which have served their purpose very well, but today need an enhanced mandate in order to fulfil the expectations. So how can we work with these institutions to enhance the mandate and at the same time the role of women in economic development, society, this will be an important theme in our presidency.&nbsp;

We are also worried about supply chain disruption. We are looking at more sustainable and resilient supply chains. The issue of food, fuel, energy, fertiliser is important for any developing world. Every presidency determines its priorities based on what the rest of the world is looking for, so it is important we pick on those areas which are of resonance across the globe, within the G20 and across the world. Many of the areas which I have mentioned and which the PM has highlighted, have a pressing need and pressing demand.&nbsp;

We will, as we move along, work with our G20 partners in broad-basing and getting traction for some of the areas that I have mentioned.&nbsp;

WION: Focus has been to showcase India's culture, arts and heritage, so how does India plan to do that?

Harsh Vardhan Shringla: This is the first time we have been the president of the G20. It is one of the most influential groupings of the world. It is a unique opportunity for us to place our narratives on the global agenda and also to be able to showcase our development achievements and experiences, our cultural heritage and diversity and our tourism potential.

I think we would be certainly working on various areas as part of our larger objectives in hosting such a huge and significant event such as the G20. In doing so we need to work closely with our states. The G20 involves 200+ meetings across our country in 56 different locations. No G2O Presidency has ever explored the possibility of such a large&nbsp;number of meetings, other presidents have had 10-15 meetings. But meetings at 56 locations is a record within the G20.&nbsp;

What it does is that it takes G20 to international delegates and brings international exposure to cities, towns in India that have had very little of such experiences. &nbsp;

That is a great way to not only involve our citizens, but when PM talks about a pan-India presidency, what he is doing is not only engaging the states but also every citizen of India, in a 'Jan Andolan' mode, to popularise what G20 is and what is India's role in the G20. It takes it down to grassroots level. So when you work in organising meetings in 56 locations, we have to do it with all our stakeholders, partners, right down to districts, local level.

WION: Will meetings take place in Union territories of Jammu and Kashmir, Ladakh?

Harsh Vardhan Shringla: When we talk about a pan-India basis, the idea is that you will have meetings across the country, in every part of our country. The calendar is still being worked out, we have released the first 3 months and we will continue to release the details as and when they are available. But in principle, when the PM speaks about pan-India basis, it covers every part of our country.

WION: Logistics is another area, messy but essential work for smooth functioning of summits and related meetings, if you can talk about it...

Harsh Vardhan Shringla: We need to understand the magnitude of the organisation of such a meeting, when we hosted NAM and Chogam summits, in 1983, the last big summits we hosted--of course we hosted the India-Africa summit more recently in 2015. These were one-off summits, one event.

G20 will see 200+ meetings across our country culminating in the summit in which you will have heads of states and govts in New Delhi. These meetings will be across the country, 56 locations and many of them have very little exposure to international events and capacity is limited.&nbsp;

Our endeavor is to create capacities, work on infrastructure, roads, upgradation of airports, beautification of cities, training of people for soft skills from tourism such as tour guides or policemen working with G20, training of our protocol division of MEA of liaison officers dealing with delegates.&nbsp;

We are dealing with capacities in the states and cities where events will be held but personnel, human resource development are also part of that.&nbsp;

Through the university connect program, we are connected to 75 universities across the country including 56 locations across the country with young enthusiastic students who will be G20 volunteers. We will involve them in the organisational process. It will be broad-based and the organisation of these meetings will be of the complexity and scale which has been experienced before.&nbsp;

Our PM has said that it will be a uniquely Indian experience of the Presidency and every effort is being made to ensure that these meetings are being held with the highest level of efficiency. We already had 3 meetings in various venues like Udaipur where the experience of the delegates was enthralling. Delegates came out of the airport, and they were greeted by folk dancers from Rajasthan and received with great amount of warmth and affection.&nbsp;

They were witness to cultural programs which were very unique representation of Rajasthani culture. Endeavour is to provide them with the taste of the culture of that region they go to like in Maharashtra, Maharashtrian culture. In Bengaluru, it was Kanada culture. We will be meeting shortly in Kolkata and I am sure they will be introduced to Bengali culture.&nbsp;

This, in many senses, presents delegates not only with diversity but also heritage we have in terms of our cultural and tourism potential--right from tying of safas to being exposed to millets.&nbsp;

This year is the International Year of Millets, when we present them with the cuisine of different parts of India, we will certainly have millets. We all know, millets have been traditionally part of our diet in India, across the country and it's considered a superfood and we have promoted and worked to declare 2023 International Year of Millets.

Millet is a crop that is highly nutritious at the same time it grows with very little water. It is climate resilient, so in today's context where Climate Change is an ever-present factor Millet is something that is unique and that the world needs. Millets are indispensable in today's society so we will present Millets along with cuisines from different parts of the country. In Rajasthan they (delegates) had Makki ki Roti, so they were exposed to different types of our cuisines and I think as we go to different parts of the country, delegates will have the opportunity to witness the enormous cultural richness and diversity of our country.

WION: How much has the MEA been involved in it?

Harsh Vardhan Shringla: G20 secretariat has officers from different ministries and departments of govt of India. It also has representatives from different ministries. It is 'Whole of govt' approach. Large number of officers have been contributed by the Ministry of External Affairs but we have officers from police, audits and accounts, people from paramilitary, number of officers from the defense forces. It's a composite effort which includes the state governments and in many senses whole of country, whole of society in organising event of this magnitude.

WION: Do you think, G20 is not the prime forum for international issues as the UN is defunct?

Harsh Vardhan Shringla: The UN and the Bretton Woods institutions like the IMF and the World Bank were set up in the post-2nd world war era and they were set up to deal with the global issues and challenges of that time, and they have done well.&nbsp;

But in this century, the range of issues that have come and the challenges which are with us, possibly very starkly brought to us the need for the reform of the multilateral system we know today to keep up with the time and also with the representation.&nbsp;

What the G20 does is that, it is the group that brings together not only the most influential and largest economies of the world but also brings together the UN, IMF, World Bank institutions that are part of the global decision-making process. It is a very inclusive group, a very representational group, and this is a group whose actions cut across the globe and its actions that have impact.&nbsp;

So when you talk about challenges of today, G20 has in its composition, its ability to take the decisions that will address and provide solutions. It is a different thing that there could be some level of polarisation but when there is consensus then the group comes up with solutions that are lasting.&nbsp;

What is important is that the rest of the world looks to the G20 to provide solutions to many of the challenges that confront them, from issues like indebtedness, inflation, paying high prices for basic necessities like fuel, food, issues that confront the developing countries of the world.&nbsp;

Many countries have been saying that if grouping like yours can come up with the solutions, clearly the UN, and Bretton woods may not have the capacity or representation or composition to come up with solutions but the G20 can. We inherit the presidency at a critical time when there is great deal of uncertainty, political, economic, security-related uncertainty and the G20 has the ability to take decisions not just for the member countries but the entire global community.

WION: Do you think G20 can be expanded? We have already invited a whole host of countries...

Harsh Vardhan Shringla: The G20 is an inclusive group, it can add countries, international organisations, regional organisations if they want to participate. So G20 has 19 countries and one organisation which is the EU. It also has within its composition the UN, IMF, World Bank, Financial Stability Board. These are always part of the G20 process. In addition, the African Union, New Partnership for Africa's Development – NEPAD , and ASEAN are permanent invitees to the G20 process, so they are already there.&nbsp;

They are in every meeting of the G20. G20 Presidency can invite any other country or organisation. From our side we have invited countries from our neighborhood - Bangladesh, Mauritius, and countries from the gulf: UAE, Oman. In addition, we have invited Nigeria and Egypt.&nbsp;

Thus, we have the largest-ever representation of Africa in the G20. We already have South Africa, AU, NEPAD and in addition to that we have Nigeria from West Africa, Egypt from North Africa and you have Mauritius from the oceanic part of Africa. They will be there in all the meetings. So, it is a very inclusive group and in many senses a group that brings together those countries that can actually contribute to the overall process.&nbsp;

WION: What role will India play under its presidency to defuse the Russia-Ukraine conflict? We in some ways are the inheritors of an issue that Indonesia had to deal with...

Harsh Vardhan Shringla: PM has been on record saying that today is not the time of war, and you know the only solution to the conflict is peace and diplomacy. Dialogue and diplomacy are the way out and I think this phrase has also been used in the Bali declaration. What he has said that today is not the time of war has figured in the leaders' declaration at G20 summit in Indonesia, Bali and represents the thinking across the world that continuation of the conflict doesn't help any of the parties, that there is a need to come together and figure out a peaceful way out of this situation. The external affairs minister has been on record saying that we have serious concerns about the way the conflict is going and of course its impact on the rest of the world, especially the developing world, which is really not party to the conflict but yet faces the collateral brunt of the conflict. It is through issues about food, fuel or fertilisers.&nbsp;

Cost of inflation, dwindling foreign exchange reserves, indebtedness, all of these really in some sense are a fallout of the Ukraine conflict.

WION: Do we expect all leaders to be present, including President Putin?

Harsh Vardhan Shringla: PM as you saw recently spoke to both President Putin, President Zelensky and reiterated the need for diplomacy and dialogue in finding a peaceful way out of the conflict. Certainly, our expectation is that G20 participation should be complete and all G20 countries will be part of our presidency, and this is an important process, and we expect every country will participate in the process.&nbsp;

Just one point I wanted to add, you mentioned the organisation of the meetings. It is important to note that you know that in this organisation and in terms of the importance we attach to the meetings and high-level oversight to these meetings, for every working-level meeting you will have a cabinet minister who will go and address the group at the opening session. You also have the cultural event, formal dinner that is part of the process and in every state, the governor, the CM and important representatives will be involved. And both in the center and the state, there will be representation in all working grouping. So even in them, we will have high-level participation in the form of cabinet ministers and state dignitaries at the public events that will take place.&nbsp; 
&nbsp;

Chief Coordinator for India's G20 Presidency Harsh Shringla said on Thursday (January 5) that New Delhi has taken over the presidency of G20 at a 'critical time' and that this is a time of "great deal of uncertainty, political, economic, security-related uncertainty.

Chief Coordinator for India's G20 Presidency Harsh Shringla said on Thursday (January 5) that New Delhi has taken over the presidency of G20 at a 'critical time' and that this is a time of "great deal of uncertainty, political, economic, security-related uncertainty." Shringla said that the focus will be on solution. He was speaking exclusively with WION's Principal Diplomatic Correspondent Sidhant Sibal. Shringla explained that "rest of the world looks to the G20 to provide solutions to many of the challenges that confront them, from issues like indebtedness, inflation, paying high prices for basic necessities like fuel, food". India took over the Presidency of the grouping on December 1, 2022 and will host the mega summit in September this year. Along with the summit, India will also host over 200 meetings in 57 different locations. The mega grouping represents more than 80 percent of world GDP, 75 percent of international trade and 60 percent of the world population. The chief coordinator pointed that,"For every working level meeting you will have a cabinet minister who will go and address the group at the opening session, You also have the cultural event, formal dinner that is part of the process and in every state the governor, the CM". He also talked about India's role on Russia-Ukraine conflict, reforms at UN, and logistics involved in hosting of the yearlong Presidency. WION: What will be the key focus for India? And what does it plan to achieve during its presidency? Harsh Vardhan Shringla: When you talk about the broad priority for India's presidency, the PM referred to them during his Bali G20 summit speech in November last year. He essentially outlined that our priorities would include accelerated, inclusive and resilient growth. After all, growth and the need to stimulate growth is a priority not only in the G20 but also countries in the developing world. The world is feeling the pressure of inflation, supply chain disruption, increasing cost of fuel, fertilizer, food. We need to ensure growth on a global basis. So one of our priorities as outlined by PM Modi is to accelerate growth but it should be inclusive, sustainable and lasting. Other priority was Sustainable Development Goals (SDGs). As you know we are in the middle of that process. It was endorsed by the UN and the international community and these were areas that cover socio-economic development, important areas for any country. In today's context, in a post-Covid era, the current problems which are the result of the Ukraine conflict, clearly impact on the economies across the world. So how the world works together under the auspices of the G20 to ensure sustainable development goals are achieved will be in focus. We have also focused on the issue of green development, climate financing and lifestyle for the environment. These have been important priorities for India. India has prioritised the transition to cleaner, greener energy and we have made very significant commitment at COP26 in Glasgow and more recently at COP27 under our nationally determined contribution but at the same what we are saying is that we need to address issues that will enable developing countries to achieve these commitments and goals through climate financing, climate justice and the same time we have work as global societies towards more sustainable lifestyle. The PM spoke about the fact that in India for centuries, we have been focusing on the lifestyle that has been more harmonious with nature, like reuse of items, like how to ensure that there is sustainability in what we do. Sustainable consumption, and sustainable production which is also part of the SDGs and lifestyle for environment, endorsed by the United Nations Secretary-General. It is a concept we would like to promote within the G20 and through the G20 to the rest of the world. Besides that, we are looking into digital transformations. India has taken a lead in using digital platforms for the benefit for our people especially more vulnerable parts of the society. Getting direct benefits straight to the actual beneficiary has been the most effective part of our developmental achievements but at the same time, we use digital platforms to administer vaccines via the Cowin platform. We have used Arogya Setu. It is very significant that today India is leading the world in digital inclusive payments, so financial inclusion is an important part of our priorities. We are also looking to reform multilateral institutions, specifically the Bretton Woods institutions, which have served their purpose very well, but today need an enhanced mandate in order to fulfil the expectations. So how can we work with these institutions to enhance the mandate and at the same time the role of women in economic development, society, this will be an important theme in our presidency. We are also worried about supply chain disruption. We are looking at more sustainable and resilient supply chains. The issue of food, fuel, energy, fertiliser is important for any developing world. Every presidency determines its priorities based on what the rest of the world is looking for, so it is important we pick on those areas which are of resonance across the globe, within the G20 and across the world. Many of the areas which I have mentioned and which the PM has highlighted, have a pressing need and pressing demand. We will, as we move along, work with our G20 partners in broad-basing and getting traction for some of the areas that I have mentioned. WION: Focus has been to showcase India's culture, arts and heritage, so how does India plan to do that? Harsh Vardhan Shringla: This is the first time we have been the president of the G20. It is one of the most influential groupings of the world. It is a unique opportunity for us to place our narratives on the global agenda and also to be able to showcase our development achievements and experiences, our cultural heritage and diversity and our tourism potential. I think we would be certainly working on various areas as part of our larger objectives in hosting such a huge and significant event such as the G20. In doing so we need to work closely with our states. The G20 involves 200+ meetings across our country in 56 different locations. No G2O Presidency has ever explored the possibility of such a large number of meetings, other presidents have had 10-15 meetings. But meetings at 56 locations is a record within the G20. What it does is that it takes G20 to international delegates and brings international exposure to cities, towns in India that have had very little of such experiences. That is a great way to not only involve our citizens, but when PM talks about a pan-India presidency, what he is doing is not only engaging the states but also every citizen of India, in a 'Jan Andolan' mode, to popularise what G20 is and what is India's role in the G20. It takes it down to grassroots level. So when you work in organising meetings in 56 locations, we have to do it with all our stakeholders, partners, right down to districts, local level. WION: Will meetings take place in Union territories of Jammu and Kashmir, Ladakh? Harsh Vardhan Shringla: When we talk about a pan-India basis, the idea is that you will have meetings across the country, in every part of our country. The calendar is still being worked out, we have released the first 3 months and we will continue to release the details as and when they are available. But in principle, when the PM speaks about pan-India basis, it covers every part of our country. WION: Logistics is another area, messy but essential work for smooth functioning of summits and related meetings, if you can talk about it... Harsh Vardhan Shringla: We need to understand the magnitude of the organisation of such a meeting, when we hosted NAM and Chogam summits, in 1983, the last big summits we hosted--of course we hosted the India-Africa summit more recently in 2015. These were one-off summits, one event. G20 will see 200+ meetings across our country culminating in the summit in which you will have heads of states and govts in New Delhi. These meetings will be across the country, 56 locations and many of them have very little exposure to international events and capacity is limited. Our endeavor is to create capacities, work on infrastructure, roads, upgradation of airports, beautification of cities, training of people for soft skills from tourism such as tour guides or policemen working with G20, training of our protocol division of MEA of liaison officers dealing with delegates. We are dealing with capacities in the states and cities where events will be held but personnel, human resource development are also part of that. Through the university connect program, we are connected to 75 universities across the country including 56 locations across the country with young enthusiastic students who will be G20 volunteers. We will involve them in the organisational process. It will be broad-based and the organisation of these meetings will be of the complexity and scale which has been experienced before. Our PM has said that it will be a uniquely Indian experience of the Presidency and every effort is being made to ensure that these meetings are being held with the highest level of efficiency. We already had 3 meetings in various venues like Udaipur where the experience of the delegates was enthralling. Delegates came out of the airport, and they were greeted by folk dancers from Rajasthan and received with great amount of warmth and affection. They were witness to cultural programs which were very unique representation of Rajasthani culture. Endeavour is to provide them with the taste of the culture of that region they go to like in Maharashtra, Maharashtrian culture. In Bengaluru, it was Kanada culture. We will be meeting shortly in Kolkata and I am sure they will be introduced to Bengali culture. This, in many senses, presents delegates not only with diversity but also heritage we have in terms of our cultural and tourism potential--right from tying of safas to being exposed to millets. This year is the International Year of Millets, when we present them with the cuisine of different parts of India, we will certainly have millets. We all know, millets have been traditionally part of our diet in India, across the country and it's considered a superfood and we have promoted and worked to declare 2023 International Year of Millets. Millet is a crop that is highly nutritious at the same time it grows with very little water. It is climate resilient, so in today's context where Climate Change is an ever-present factor Millet is something that is unique and that the world needs. Millets are indispensable in today's society so we will present Millets along with cuisines from different parts of the country. In Rajasthan they (delegates) had Makki ki Roti, so they were exposed to different types of our cuisines and I think as we go to different parts of the country, delegates will have the opportunity to witness the enormous cultural richness and diversity of our country. WION: How much has the MEA been involved in it? Harsh Vardhan Shringla: G20 secretariat has officers from different ministries and departments of govt of India. It also has representatives from different ministries. It is 'Whole of govt' approach. Large number of officers have been contributed by the Ministry of External Affairs but we have officers from police, audits and accounts, people from paramilitary, number of officers from the defense forces. It's a composite effort which includes the state governments and in many senses whole of country, whole of society in organising event of this magnitude. WION: Do you think, G20 is not the prime forum for international issues as the UN is defunct? Harsh Vardhan Shringla: The UN and the Bretton Woods institutions like the IMF and the World Bank were set up in the post-2nd world war era and they were set up to deal with the global issues and challenges of that time, and they have done well. But in this century, the range of issues that have come and the challenges which are with us, possibly very starkly brought to us the need for the reform of the multilateral system we know today to keep up with the time and also with the representation. What the G20 does is that, it is the group that brings together not only the most influential and largest economies of the world but also brings together the UN, IMF, World Bank institutions that are part of the global decision-making process. It is a very inclusive group, a very representational group, and this is a group whose actions cut across the globe and its actions that have impact. So when you talk about challenges of today, G20 has in its composition, its ability to take the decisions that will address and provide solutions. It is a different thing that there could be some level of polarisation but when there is consensus then the group comes up with solutions that are lasting. What is important is that the rest of the world looks to the G20 to provide solutions to many of the challenges that confront them, from issues like indebtedness, inflation, paying high prices for basic necessities like fuel, food, issues that confront the developing countries of the world. Many countries have been saying that if grouping like yours can come up with the solutions, clearly the UN, and Bretton woods may not have the capacity or representation or composition to come up with solutions but the G20 can. We inherit the presidency at a critical time when there is great deal of uncertainty, political, economic, security-related uncertainty and the G20 has the ability to take decisions not just for the member countries but the entire global community. WION: Do you think G20 can be expanded? We have already invited a whole host of countries... Harsh Vardhan Shringla: The G20 is an inclusive group, it can add countries, international organisations, regional organisations if they want to participate. So G20 has 19 countries and one organisation which is the EU. It also has within its composition the UN, IMF, World Bank, Financial Stability Board. These are always part of the G20 process. In addition, the African Union, New Partnership for Africa's Development – NEPAD , and ASEAN are permanent invitees to the G20 process, so they are already there. They are in every meeting of the G20. G20 Presidency can invite any other country or organisation. From our side we have invited countries from our neighborhood - Bangladesh, Mauritius, and countries from the gulf: UAE, Oman. In addition, we have invited Nigeria and Egypt. Thus, we have the largest-ever representation of Africa in the G20. We already have South Africa, AU, NEPAD and in addition to that we have Nigeria from West Africa, Egypt from North Africa and you have Mauritius from the oceanic part of Africa. They will be there in all the meetings. So, it is a very inclusive group and in many senses a group that brings together those countries that can actually contribute to the overall process. WION: What role will India play under its presidency to defuse the Russia-Ukraine conflict? We in some ways are the inheritors of an issue that Indonesia had to deal with... Harsh Vardhan Shringla: PM has been on record saying that today is not the time of war, and you know the only solution to the conflict is peace and diplomacy. Dialogue and diplomacy are the way out and I think this phrase has also been used in the Bali declaration. What he has said that today is not the time of war has figured in the leaders' declaration at G20 summit in Indonesia, Bali and represents the thinking across the world that continuation of the conflict doesn't help any of the parties, that there is a need to come together and figure out a peaceful way out of this situation. The external affairs minister has been on record saying that we have serious concerns about the way the conflict is going and of course its impact on the rest of the world, especially the developing world, which is really not party to the conflict but yet faces the collateral brunt of the conflict. It is through issues about food, fuel or fertilisers. Cost of inflation, dwindling foreign exchange reserves, indebtedness, all of these really in some sense are a fallout of the Ukraine conflict. WION: Do we expect all leaders to be present, including President Putin? Harsh Vardhan Shringla: PM as you saw recently spoke to both President Putin, President Zelensky and reiterated the need for diplomacy and dialogue in finding a peaceful way out of the conflict. Certainly, our expectation is that G20 participation should be complete and all G20 countries will be part of our presidency, and this is an important process, and we expect every country will participate in the process. Just one point I wanted to add, you mentioned the organisation of the meetings. It is important to note that you know that in this organisation and in terms of the importance we attach to the meetings and high-level oversight to these meetings, for every working-level meeting you will have a cabinet minister who will go and address the group at the opening session. You also have the cultural event, formal dinner that is part of the process and in every state, the governor, the CM and important representatives will be involved. And both in the center and the state, there will be representation in all working grouping. So even in them, we will have high-level participation in the form of cabinet ministers and state dignitaries at the public events that will take place.

"India takes G20 Presidency at critical time, will provide solutions," says Chief Coordinator Harsh Shringla

Chief Coordinator for India’s G20 Presidency, Harsh Shringla has said that New Delhi takes over presidency at "critical time" at a time of "great deal of uncertainty, political , economic, security related uncertainty" and focus will be on solution. Speaking exclusively to our diplomatic correspondent Sidhant Sibal, Shringla explained that "rest of the world looks to the G20 to provide solutions to many of the challenges that confront them, from issues like indebtedness, inflation, paying high prices for basic necessities like fuel, food". India took over the Presidency of the grouping on 1st December 2022 and will host the mega summit in September. Along the summit India also hosts over 200 meetings in 57 different locations. The mega grouping represents more than 80 percent of world GDP, 75 percent of international trade and 60 percent of the world population.

"India takes G20 Presidency at critical time" says Chief Coordinator Harsh Shringla

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