On day two of the G20 Summit being held in Hangzhou, China discussions moved on to "More Effective and Efficient Global Economic and Financial Governance".
Prime Minister Narendra Modi began his intervention by highlighting the important points on why a stable global economic and financial system is imperative for growth.
PM highlights important points on why— Vikas Swarup (@MEAIndia) September 5, 2016
a stable global economic and financial system is imperative for growth pic.twitter.com/gNoxAfeG8K
PM emphasised that long delayed 15th General Review of Quotas must be completed by 2017 Annual Meetings.
PM further added that, "We need a regular dialogue between the IMF, Regional Financial Arrangements and Bilateral Swap Arrangements".
PM professed India's support for BEPS recommendations and called on countries to commit to the timeline of 2017-2018.
PM also said that, "G20's efforts should be for zero tolerance for corruption and black money; zero administration, policy and treaty loopholes; zero barriers and full commitment to action".
PM Modi ended his intervention by stating that, "We need energy to support developmental needs."
He sought balanced mix of nuclear, renewable energy and fossil fuels at core of our policy. He also thanked all for unreserved support to ISA.
Prime Minister Narendra Modi intervened in the third discussion session at G20 Summit in China. On the final day PM spoke on "Robust International trade and Investment".
PM began his intervention by saying that global trade is at a cross road. He further added that vision of transparent, equitable, non-discriminatory, open, inclusive and rule based global trading arch should underpin collective efforts.
PM:Trade facilitation is important.I urge countries to fully implement the Bali and Nairobi Ministerial decisions pic.twitter.com/BVHEv3GgPy— Vikas Swarup (@MEAIndia) September 5, 2016
PM further spoke that global trading regime must respond to needs and priorities of developing nations. He added that global value chain must provide them level playing field.
PM also spoke about knowledge and innovation driven economy requires free mobility. He added that for India priority is to work towards Trade Facilitation Agreement for Services.
PM also suggested that, "G20 needs to act to stimulate investment flows. Transformed and liberalised investment regime has put India among top host nations for FDI".
PM closed his remarks by stating that, "Global investment principles shouldn't be prescriptive. Countries need policy space depending on national circumstances and development focus".
During a working lunch at G20 PM participated in discussion on "Inclusive and Interconnected Development". He began his remarks by saying that, it is not just an aspiration but a goal to put everyone on the path of development.
He further added that domestic policy and action must get support from international regimes and frameworks.
PM concluded his remarks by flagging India's vibrant collaboration with Africa. He also mentioned reaffirming of partnership at IAFS last year.
Prime Minister on the sidelines of G20 Summit had his first bilateral meeting with UK's new Prime Minister Theresa May. This meeting is considered very important for cementing ties with the UK.
Both the leaders held discussions on the sidelines of the G20 summit here on "building opportunities" after the UK voted to leave the EU- the world's single largest market. "Building opportunities with the United Kingdom.
With May, the prime minister underlined that even after UK's exit from the EU, "Britain remains an important partner" for India.
May also referred to the recent passage of GST (bill) which would further boost trade and investment ties with the UK. She supported PM's reform agenda and the UK is keen to participate in Make in India, Smartcity and Skill India initiatives.
The two leaders discussed further enhancing of the defence partnership and Modi invited UK firms to India. They also talked about the challenges of terrorism, calling it "the biggest threat and danger to the world with no boundaries.
At Hangzhou, China PM also met Indian students who are volunteering as interpreters for delegates at the G20 Summit.
PM met Indian students who are volunteering as interpreters for delegates at the G20 Summit. pic.twitter.com/QT1snqCvnX— PMO India (@PMOIndia) September 5, 2016
On the sidelines of G20 Summit PM Narendra Modi had a short talk with French President Hollande. The meeting is to strengthen the Strategic Partnership with France.
PM raised the issue of the confidential data leak of the Indian Scorpene Class submarines with French President Francois Holland on the sidelines of the G20 Summit.
Prime Minister Narendra Modi today discussed India's NSG membership with Turkish President Recep Tayyip Erdogan.
On the second and final day of the summit in this east Chinese city, Modi met Erdogan in "pull-aside" meeting.
In his meeting with Erdogan, the prime minister discussed the issue of India's membership of the 48-member Nuclear Suppliers Group (NSG). The discussion with Erdogan on NSG was significant as Turkey was among the few countries - along with China - which had stalled India's bid to join the elite grouping at its plenary meeting in June in Seoul.
Enhancing civil aviation with Turkey also figured during the discussions.