Prime Minister Narendra Modi will visit Japan next week to attend the G-20 summit where issues such as financial stability, WTO reform, black money, and terrorism will be on top of the agenda for India.
Prime Minister Modi will attend the 14th G-20 Summit in Osaka, Japan, from June 28-29.
The summit will also be attended by Heads of State or government of member countries, EU and other invited nations and international organizations, the Ministry of External Affairs (MEA) said.
MEA Spokesperson Raveesh Kumar announced that former Union minister Suresh Prabhu would be India’s Sherpa at the 14th meeting of the world’s top economies in Osaka, Japan.
“This would be the sixth time that Prime Minister Modi would be participating in the G-20 summit. Apart from participating at the summit, the prime minister will also have bilateral meetings. He will also have plurilateral meetings which would be announced closer to the date,” he said.
Modi’s likely meeting with US President Donald Trump, the first since his re-election last month, is set to attract a lot of attention amid strengthening of strategic ties between the two countries.
“Over a period of time, particularly after the economic shock of 2008, the G-20 has become a very important global platform,” Prabhu said, adding the G-20 countries contribute about 85 per cent of the world’s GDP.
The issues under discussion at the summit will include free trade and economic growth, global economy including taxation, finance, digital economy and artificial intelligence, inclusive and sustainable world, energy and environment, society 5.0, quality infrastructure, global health, ageing, climate change, and marine plastic waste, he said.
Talking about India’s agenda at the meeting, Prabhu said India will be discussing important issues such as energy security, financial stability, reforming multilateralism, and WTO reform.
“We strongly feel that WTO should be strengthened and it should be the body through which global trade should be regulated,” he said.
Prabhu said issues such as the return of fugitive economic offenders, terrorism, portable social security schemes, disaster-resilient infrastructure, as well as food security will also be raised by India.
There are going to be four sessions — global economy: trade and investment; innovation in the digital economy and artificial intelligence; addressing inequalities and realising and inclusive sustainable world; and climate change, energy and environment, he said, adding the prime minister will lead India’s stand on all these issues.
Asked about growing protectionism and trade wars among major world powers, Prabhu said India fully supports the free flow of trade.
“India is one of the most open economies of the world today. We get FDI without barriers in several sectors, so India has the right to demand reciprocal treatment from other countries of the world. We have not fully benefitted from opening borders. It is a time when India’s economy is 2.8 trillion dollars. We are poised to grow we need to work with others,” he said.
The Summit under the Japanese presidency is centred around the theme “Human-centred future society”.
On the sidelines of the G20 Summit, an informal meeting of the BRICS leaders and bilateral meetings with other leaders will also take place.
G-20 comprises Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US.