PM Modi to take up global economic revival, energy & food security with G20 leaders in Bali

Prime Minister Narendra Modi said that he will take up issues pertaining to the global economic revival, and food and energy security in the 17th G20 Leaders’ Summit, which begins in Bali today.

Before embarking on a three-day visit to Bali to participate in the summit, Modi said in a statement that India’s G20 Presidency will be grounded on the theme of Vasudhaiva Kutumbakam or “One Earth One Family One Future”.

“During the Bali Summit, I will have extensive discussions with other G20 Leaders on key issues of global concern, such as reviving global growth, food and energy security, environment, health, and digital transformation. On the sidelines of the G20 Summit, I will meet with leaders of several other participating countries, and review the progress in India’s bilateral relations with them,” PM Modi said in a statement.

PM Modi said he will highlight India’s “unwavering commitment to collectively address global challenges”.

“In a significant moment for our country and citizens, President of Indonesia Joko Widodo will hand over the G20 Presidency to India at the closing ceremony of the Bali Summit. India will officially assume the G20 Presidency on 1st December 2022. I will also extend my personal invitation to G20 Members and other invitees to our G20 Summit next year.” the statement said.

“India’s G20 Presidency will be grounded in the theme Vasudhaiva Kutumbakam or "one earth one family one future", which underlines the message of equitable growth and shared future for all,” the statement said. Modi will also address the Indian community in Bali on Tuesday.

Earlier this month, finance minister Nirmala Sitharaman said financing mechanisms for sustainable development in the emerging economies, a push for reforms of the multilateral institutions, debt distress in the middle, low-income countries, and collateral macro spill-overs in the multi-polar world, climate finance, and energy transition, among others, are some of the ideas which are likely to be deliberated during the upcoming G20 Presidency of India.

Chief Economic Advisor V Anantha Nageswaran meanwhile too has indicated that India’s focus during the Presidency of the inter-governmental forum will be on macroeconomic vulnerabilities, food and energy security, and trans-border challenges like regulation of virtual assets, among others as the role comes at a time when the global economy is facing the “unknown unknowns”.

G20 comprises the European Union and 19 other countries (USA, UK, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Korean Republic, Mexico, Russia, Turkey, South Africa, and Saudi Arabia).