City New Delhi Financial News

During its G20 presidency, India achieved a signif... moreDuring its G20 presidency, India achieved a significant milestone as leaders unanimously endorsed the New Delhi Declaration after India revised the text concerning Ukraine.

G20 summit is currently underway at the Bharat Man... moreG20 summit is currently underway at the Bharat Mandapam in New Delhi.

President Joe Biden and his allies have outlined plans to create a rail and shipping corridor linking India with the Middle East and ultimately Europe

G20 countries on Saturday committed to expedite efforts to phase down unabated coal power in line with national circumstances and uphold their 2009 promise made in Pittsburgh to eliminate and rationalise inefficient fossil fuel subsidies.

Narendra Modi has sought to define the G20 Summit around «inclusion of the Global South» and AU joining the bloc signals a «very positive step» towards the reforms sought in the UNSC and various global multilateral financial institutions, a top South African official said on Saturday. Interacting with reporters on the sidelines of the G20 Summit here, Vincent Magwenya, also said that there has been a lot of «positive development» with respect to the Russia-Ukraine conflict this year than it was last year. «We have formalised peace process which has the support of all G20 members… The peace process going to take time.

China has raised objections to the US hosting the Group of 20 nations in 2026 as already announced by President Joe Biden’s administration, according to four people familiar with the discussions.G-20 members rotate their presidency of the group, including the annual summit of world leaders, and the US has said it will take it on after India, Brazil and South Africa complete their respective yearlong stints. China’s objection — backed by Russia, according to one of the people — is mostly symbolic as it’s unlikely the decision will be reversed. The people asked not to be named since the discussions on the sidelines of the current G-20 in India are private. The Chinese move was first reported by the Financial Times. Beijing asked that its displeasure be recorded, according to the people, who didn’t know the reasons for China’s objections.

India's External Affairs Minister S Jaishankar while addressing a press briefing on the G20 Summit outcomes said that India's presidency has contributed to making 'India world-ready and the world India-ready.' The G20 Leaders’s Summit Declaration that the leaders have agreed on focuses on promoting strong, sustainable, balanced and inclusive growth, seeks to accelerate progress on SDGs, envisages a green development pact for a sustainable future and endorses high-level principles on lifestyle for sustainable development, Jaishankar said on Saturday. Along with other initiatives, African Union's inclusion in G20 was among India's key priorities in the G20 summit under its presidency. While commenting on inclusion of African Union, he added that this happened under India's presidency to prioritise urgent concerns of the Global South. «You would recall that at the beginning of our presidency, at Prime Minister Narendra Modi's initiative, 125 nations were consulted to express voice of the Global South,» he said.

G20 Summit being held in New Delhi on Saturday, India's Finance Minister Nirmala Sitharaman announced that the intergovernmental forum had reached a consensus on strengthening multilateral development banks (MDBs) to make them «bigger, better and more effective.» «India's G20 presidency has crafted solutions that resonate with each member offering shared path forward for all,» Sitharaman said at a press conference shortly after the G20 adopted the New Delhi Declaration. Explaining the resolutions under the finance track, Sitharaman highlighted four major achievements that include an agreement to boost WB's financing capacity, and to form an independent panel of capital adequacy framework (CAF) for MDBs. The Finance Minister added that there would be an additional $200 billion headroom for lending in the next decade, post the implementation of CAF. «We endorse the G20 Roadmap for Implementing the Recommendations of the G20 Independent Review of MDBs Capital Adequacy Frameworks (CAFs) and call for its ambitious implementation, within MDBs’ own governance frameworks while safeguarding their long-term financial sustainability, robust credit ratings and preferred creditor status,» the New Delhi Declaration reads. During the press confernce, Sitharaman also talked of cryptocurrency, pointing out that India's presidency is brining a consensus on the matter. «A global consensus on regulating cryptos is emerging under India's presidency,» Sitharaman said, adding, «we have embedded in G20 agenda financial inclusion and productivity gains through digital public infrastructure.» Addressing the conference alongside Sitharaman was External Affaits Minister S Jaishankar, who said that the G20 has contributed to making «India

U.N. Secretary-General António Guterres has urged the Group of 20 top economic powers to use their weekend summit to send a strong message on climate change

The Group of 20 top world economies welcomed the African Union as a member as their annual summit got underway Saturday, but their wording on the contentious issue of the war in Ukraine was limited to a call to avoid seizing territory by force or the u...

Indian Prime Minister Narendra Modi says the Group of 20 has agreed to make the African Union a permanent member

India got the «100 per cent» consensus on all developmental and geo-political issues focussing on Strong, Sustainable, Balanced, and Inclusive Growth Accelerating Progress on Sustainable Development Goals. Soon after Prime minister Narendra Modi announced that the consensus has been achieved on New Delhi G20 Leaders' Summit Declaration and announced its adoption, G20 Sherpa Kant congratulated India. «Historical and Path breaking #G20 Declaration with 100 per cent consensus on all developmental and geo-political issues. The new geopolitical paras are a powerful call for Planet, People, Peace and Prosperity in today's world.

Narendra Modi during a session on Saturday. “Through the hard work of our teams, and through the cooperation of you all, we have reached agreement on the New Delhi G20 Leaders Summit Declaration. I propose that we adopt this New Delhi Leaders Declaration," Modi said, addressing his counterparts at a session.

G20 Summit towards resolving the ongoing Russia-Ukraine conflict, said Vincent Magwenya, spokesperson for the South African president, in New Delhi on Saturday. Magwenya also highlighted strong commitments received by South Africa from developed nations regarding climate change efforts. Speaking at the sidelines of the G20 leaders summit at the capital, Magwenya said the wording of the New Delhi Leaders’ Declaration of G20 is still being worked on.

Narendra Modi announced the adoption of New Delhi G20 Leadership Declaration at G20 Summit on Saturday. The group had reached common ground on the missive following much deliberation on how to address the Ukraine war.

IMF) and the Financial Stability Board (FSB) has set out a roadmap to coordinate measures to stop crypto assets from undermining macroeconomic and financial stability. However, the synthesis, put together at the request of the Indian G20 presidency, stopped short of endorsing a blanket ban on such assets, saying it can be “costly and technically demanding to enforce”. The crypto asset regulation is a key part of the agenda for G20 leaders when they meet in New Delhi this weekend. The IMF-FSB Synthesis Paper: Policies for Crypto-Assets provides comprehensive guidance to address the macroeconomic and financial stability risks posed by crypto-asset activities and markets, including those associated with stablecoins and those conducted through so-called decentralised finance (DeFi).

New Delhi: The Union Ministry of Home Affairs (MHA), on Saturday, refuted media reports that Rajasthan Chief Minister Ashok Gehlot was denied approval for his helicopter flight, saying all his four requests were approved. Sharing a series of posts in X, the Spokesperson of the Ministry of Home Affairs said, «In a news report, Rajasthan Chief Minister has claimed denial of approval for his helicopter flight by the MHA. Four requests were received from Chief Minister Rajasthan for flight permissions, including for Sikar, and all were approved by the MHA.» «No request from Chief Minister Rajasthan has been denied.

Narendra Modi, who kicked off the two-day G20 leaders’ Summit here, describing India’s G20 presidency as a symbol of inclusiveness. At the opening session of the summit, AU Chair Azali Assoumani marked the Union's entry as a permanent member of G20, on Modi’s invitation. In his opening remark, Modi called for a collective approach to resolving the challenges facing the world today and emphasised on the need to restore mutual faith that has been lost due to war.

India is holding the historic G20 Summit in Delhi, Congress leader Manish Tiwari on Saturday launched an attack on the Bharatiya Janta Party-led Centre, asking the government to clarify in Parliament whether the government is aiming to provide a military base to United States soldiers on Indian soil. Tiwari, citing the India-US joint statement released by the White House on Friday, said, «Is this a precursor to providing US military bases on Indian soil? The NDA/BJP will have to clarify in Parliament.» The Congress leader's attack on the Centre comes as Prime Minister Narendra Modi held a bilateral meeting on the sidelines of the G20 Summit with US President Joe Biden hours after he landed in New Delhi to attend the mega conclave. According to statement from the White House about the meeting of both leaders at 7, Lok Kalyan Marg in Delhi, they talked about various key issues and also applauded the conclusion of a second Master Ship Repair Agreement signed between American Navy and Mumbai-based Mazgaon Dock Shipbuilders in August 2023. During the meeting, both leaders recommitted to advancing India's emergence as a hub for the maintenance and repair of forward-deployed US Navy assets and other aircraft and vessels, according to the White House statement. Taking to X, Manish Tiwari highlighted a specific part of the India-US joint statement that reads, «The leaders applauded the conclusion of a second Master Ship Repair Agreement, with the most recent agreement signed by the U.S. Navy and Mazgaon Dock Shipbuilders, Ltd., in August 2023.

Saudi Arabian Crown Prince Mohammed bin Salman arrived in New Delhi on a three-day state visit during which he will hold a bilateral meeting and co-chair the first leaders' meeting of the Strategic Partnership Council with Prime Minister Narendra Modi. During this visit, the Crown Prince and Prime Minister of Saudi Arabia will also attend theG20 Summit being hosted in Delhi on Saturday and Sunday. He will continue his stay in India on Monday for the state visit, a statement issued by the Ministry of External Affairs (MEA) said in a statement. On his arrival, Saudi Crown Prince Mohammed bin Salman was received by Union minister Ashwini Vaishnaw at the airport. The Saudi Crown Prince had earlier come to India on a state visit in February 2019 and this will be his second state visit.

African Union joined the G20 on Saturday, Sunil Mittal, Founder and Chairman of Bharti Enterprises said the day will be remembered as a «defining milestone» towards charting more inclusive compositions across international organisations and their bodies. Mittal congratulated Prime Minister Narendra Modi «for successfully leading the inclusion of the African Union as a permanent member of the G20». «My hearty congratulations to PM Narendra Modi for successfully leading the inclusion of the African Union as a permanent member of the G20.