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Russia-Ukraine crisis, India worked very closely with Brazil, South Africa and Indonesia. I want to say that it was the emerging markets which played a very key role. There was very tough, very ruthless negotiations for several days non-stop," said India’s G20 Sherpa Amitabh Kant during a press briefing.

As India handed over the G20 Presidency to Brazil, the member nations have committed to harnessing artificial intelligence (AI) technology in a responsible manner in addition to planning for a future involving crypto assets and central bank digital currencies (CBDC).

By Jamie McGeever

The G20 Summit under India’s presidency succeeded in bringing Africa to the table, put the spotlight on climate action and focused on the reform of multilateral development banks, among other key achievements, International Monetary Fund (IMF) managing director Kristalina Georgieva said in an interview to ET. Edited excerpts:What are the key takeaways from India’s G20 presidency? India brought the G20 together, but it did more than that. It invited countries and international organisations; so, we can say the whole world came together. The very first important achievement is the African Union being accepted into G20, which gives a whole continent a voice. I think Prime Minister Modi and the rest of G20 did the right thing to welcome that voice. Second, the Indian presidency brought up ambition on climate action. There was a much stronger sense of urgency to move. Third, on financing, the Indian presidency advanced reform of multilateral development banks and the World Bank, and brought the role of these institutions — as mobilisers of private finance — much more in focus. Four, we have seen the India presidency rallying everybody, (which brought) pledges for lending special drawing rights through IMF to vulnerable middle- and low-income countries to fruition. It started with the Italian presidency, moved to the Indonesian presidency, and now, the pledge has materialised. That means more resources for developing countries.

Fumio Kishida said he plans to reshuffle his cabinet as early as Wednesday, and will compile a package of «drastic» economic measures soon after to boost the country's fragile recovery. «I'm thinking of conducting a personnel change of party leadership and of the cabinet as early as the 13th,» Kishida told a press conference in New Delhi on Sunday, on the sidelines of a G20 summit meeting. «On economic measures, I want them to protect the people's lives from price hikes and to reinforce the trend of wage increases and investment expansion.

Ukraine conflict is a «convergent consensus» rather than a «divisive consensus» and it could show a path to resolution of the crisis, official sources said on Sunday, a day after India pulled of a breakthrough on the contentious issue. It was a combination of Prime Minister Narendra Modi's guarantee and magic, the sources said while referring to total unanimity among the member nation's on the entire New Delhi G20 Leaders' Declaration. India managed to hammer out the unexpected consensus among the G20 countries on the contentious Ukraine conflict through a series of hectic negotiations with emerging economies such as Brazil, South Africa and Indonesia playing a leading role in reaching the agreement on the declaration. It is important to look at the nature of the consensus with the document as the declaration actually reflects «47 sub-consensus» in a range of issues, the sources said. Explaining it, they said the declaration has around 10 broad themes and 37 sub-heads and all the countries agreed on all of them. Overall, the outcome at the G20 summit demonstrated India and its leadership as a «junction box of democratic values», the sources said. The paragraphs on the Ukraine conflict in the New Delhi declaration must not be looked at from the perspective of last year's Bali declaration, they said. «It is a convergent consensus rather than a divisive consensus,» said one of the sources, noting that the approach that featured in the declaration reflected a «stable» framework to deal with the crisis while divisive consensus is always «fragile». «The story of the consensus is a remarkable one and the overall approach in the document reflected a larger context.

Boeing 737 Max jets in a deal valued at about $7.5 billion, a person familiar with the talks told Reuters on Sunday. Wording of the impending deal, which confirms a Reuters report from last week, comes as U.S. President Joe Biden visits Hanoi to boost ties with the former foe. Boeing and Vietnam Airlines did not immediately respond to requests for comment. The deal would be worth up to $7 billion at list prices, and usually companies that buy in bulk get discounts, but the person familiar with the talks did not comment on this. Boeing has a deal with Vietnam Airlines' rival VietJet for the sale of 200 of its 737 MAX planes. Vietnam was the world's fifth fastest-growing aviation market in 2022 when it lifted COVID-19 travel restrictions, according to the International Air Transport Association (IATA), which predicts the country will serve 150 million air transport passengers by 2035. Boeing 737 Max jets were grounded worldwide for months after two fatal crashes in Indonesia and Ethiopia in 2018 and 2019.

Global Financial Crisis to precipitate ponderous deliberations into precipitate, coordinated action, such as infusion of liquidity, provision of swap lines to provide emergency access to foreign currency, institution of elevated capital adequacy norms for banks and extra, loss-absorbing buffers of capital for globally systemically important financial institutions, accompanied by periodic stress tests by banking regulators. The world does not face that kind of a crisis.

G20 Summit meet on Sunday. “Our Indian friends said they would propose promising areas they can be invested in," Lavrov told reporters, citing talks with Indian counterpart Subrahmanyam Jaishankar in Jakarta, Indonesia, on the side lines of the East Asia summit prior to his arrival to India. “Right now our governments are talking how to use and invest them to mutual benefit.", Bloomberg quoted Russia's Foreign Minister.

New Delhi: India’s presidency of G20 or the Group of 20 has been able to bring all member countries to the table on the issue of war in Ukraine and brought to the fore the voice of the emerging markets as moderators, said foreign policy experts, highlighting the country's heritage as the voice of reason. The New Delhi Declaration issued on the first day of the two-day G20 Summit set the direction of future negotiations on important economic issues including climate financing which has for the first time put $5.9 trillion number to the green financing requirements for developing countries, reforms in multilateral banks, international taxation and sustainable development.

India will offer Russia options to invest the billions in rupees it has accumulated for exports, Foreign Minister Sergei Lavrov said Sunday in New Delhi. “Our Indian friends said they would propose promising areas they can be invested in,” Lavrov told reporters, citing talks with Indian counterpart Subrahmanyam Jaishankar in Jakarta, Indonesia, on the sidelines of the East Asia summit prior to his arrival to India. “Right now our governments are talking how to use and invest them to mutual benefit.” He didn’t provide further details. Lavrov also said Russian arms contracts with India remain in force, despite difficulties with payments caused by sanctions imposed by the US and its allies over Russia’s invasion of Ukraine. Russia has emerged as a top supplier of oil to India over the past year, settling a greater share of trade in national currencies and redirecting shipments east as traditional customers in Europe shunned purchases after President Vladimir Putin invaded Ukraine.

da Silva, representing the G20 presidencies of last year and the next year. The ceremony took place at the beginning of the third session ‘One Future’ of the G20 Summit. First Widodo handed over the sapling to Modi and then Lula da Silva presented the sapling to the prime minister, amidst applause from other leaders.

US President Joe Biden at Delhi's Raj Ghat during the latter's visit to pay homage to the father of the nation, Mahatma Gandhi, in the national capital on Sunday. As President Biden arrived at Raj Ghat, PM Modi welcomed him and presented a gift of khadi. French President Emmanuel Macron and Indonesian President Joko Widodo both visited Delhi's Rajghat to pay their respects to Mahatma Gandhi and lay wreaths.CATCH ALL LIVE UPDATES OF G20 SUMMIT HERE

G20 Summit remained full of heavy engagements for the world leaders here in New Delhi including the announcement of a historic connectivity deal between India, the Middle East, and Europe. The US, India, Brazil, and South Africa reaffirmed their shared commitment to the G20, which is to deliver solutions for the shared world. Morocco's government said that 2,000 died and 329 were injured after a powerful quake, more than doubling the earlier toll.

India secured a consensus on the G20 declaration, defying concerns over sharp divisions among member nations regarding the Ukraine conflict. This achievement was the result of a series of rigorous negotiations involving India, China, Russia, and other Western nations, with the backing of Brazil, South Africa, and Indonesia, a PTI report stated quoting sources. Prime Minister Narendra Modi, on the first day of the summit, surprised many by announcing the adoption of the G20 leaders' declaration with unanimous agreement.

G20 Leaders' Summit hosted in the national capital, according to a report published by the news agency ANI. The Heads of State of countries including UAE, Bangladesh, Egypt, China, Australia, UK, Argentina, Indonesia, France, Germany, Netherlands, Turkey, Japan, Italy, Spain, South Africa, Republic of Korea, Canada and Singapore will depart from Delhi on Monday. The Central government has assigned responsibilities to Union Ministers of State to see off the foreign delegates after the summit.

Ukraine-Russia war. A consensus that had seemed elusive was achieved following hard bargaining and intense discussions among all G20 negotiating teams amid key meetings, ET has learnt. The need for consensus on the New Delhi Declaration that was adopted on Saturday had also figured in the meeting between US President Joe Biden and Prime Minister Narendra Modi, in the Capital on Friday night. While India was in constant touch with Russia over the issue, external affairs minister S Jaishankar's meeting with Russian counterpart Sergey Lavrov in Jakarta played an important role, ET has learnt. Over Friday and early Saturday, the Prime Minister held critical talks on the issue with visiting leaders.

Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets. 

Russia-Ukraine crisis, India worked very closely with Brazil, South Africa and Indonesia. I want to say that it was the emerging markets which played a very key role. There was very tough, very ruthless negotiations for several days non-stop," said India’s G20 Sherpa Amitabh Kant during a press briefing.

South Korean President Yoon Suk Yeol has met with his Indonesian counterpart, Joko Widodo, to deepen economic ties and defense cooperation amid heightened global geopolitical tensions

The world's most powerful countries remained divided on ways to address the Ukraine war as India began hosting the G20 Summit this week. A draft declaration circulated on Friday night left the segment blank, prompting India to circulate a new paragraph among delegates on Saturday. While Western nations push for strong condemnation of Russia, others have sought a focus on broader economic issues.