G20 Summit Archives - Lokmarg

Successful G20 Summit Brings Cheers To Indian Stock Investors

By LokMarg 11th September 2023

Indian stock indices started Monday’s trade on a firm note, taking cues from the overall successful G20 Summit in New Delhi.

The consensus on the New Delhi declaration by all G20 member countries despite a divided house given the ongoing war in Ukraine and the West’s sanctions on Russia, the ambitious rail-port economic corridor deal to connect India-Middle East-Europe, and the launch of Global Biofuel Alliance on the summit sidelines seemed to have attracted investors to bet in the market.

Sensex and Nifty were 0.3-0.4 per cent higher from their Friday close of 66,861.16 points and 19,910.10 points, with all sectoral indices in the green. Last week, Indian stocks ended at a high to log their best week in over two months.

Companies involved in railways, ports and infrastructure are the top gainers today.

Moreover, foreign portfolio investors (FPIs) continuing to be net buyers in Indian stock markets for the sixth consecutive month until August supported market sentiment. They bought equity assets worth Rs 1.31 lakh crore cumulatively in 2023, data showed.

“The G20 Delhi Declaration and India’s diplomatic triumph can trigger a continuation of the positive market mood and momentum,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“More importantly, the inclusion of the African Union in G20 and the proposed India-Middle East-Europe Corridor have positive economic and market connotations,” Vijayakumar added.

Citing an example, he said the inclusion of the African Union in G20 is positive news for Bharti Airtel which has a significant presence in Africa.

Going ahead, August inflation data in India and the US, expected to be released on Tuesday and Wednesday are likely to be the next market trigger for fresh cues.

Retail inflation in India rose sharply in July to 7.44 per cent and in the process breached RBI’s 6 per cent upper tolerance target, largely due to a sharp spurt in vegetable, fruit, and pulses prices. (ANI)

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G20 Day2 : Full Schedule Of Mega Conclave

By LokMarg 10th September 2023

After a successful first day of the G20 summit being held under India’s presidency in New Delhi, the G20 summit now heads to day 2 of the world leader’s conclave.

Day 2 of the G20 summit started with the leaders visiting Delhi’s Raj Ghat to lay wreaths at the Samadhi of the father of the nation Mahatma Gandhi. A musical tribute featuring favourite hymns of Mahatma Gandhi was also played at the wreath laying function.

The leaders will head for the Bharat Mandapam where a Tree planting ceremony will take place at the South Plaza. This will be followed by the the third session of the G20 summit ‘One Future’ which will be held at Bharat Mandapam.

A G20 exhibition for spouses of World leaders is also scheduled for the 2nd day of the summit.

Earlier on Saturday the Delhi Declaration was adopted. It called on nations to uphold international law, including territorial integrity, international humanitarian law and the multilateral system that safeguards peace and stability.

The declaration envisages a green development pact for a sustainable future, it endorses highlevel principles on lifestyle for sustainable development, voluntary principles of hydrogen, the Chennai principles for a sustainable resilient blue economy and the Deccan principles on food security and nutrition among others

The biggest takeaway of the declaration was that all 83 paras of the declaration were passed unanimously with a 100 per cent consensus along with China and Russia in agreement. For the first time, the declaration contained no footnote or Chair’s Summary.

The G20 meeting on Saturday also saw the African Union being inducted as the new permanent member of G20 thereby offering developing nations a greater say in global decision-making

PM Narendra Modi on Saturday also launched the Global Biofuels Alliance in the presence of US President Joe Biden, President of Brazil Luiz Inacio, President of Argentina, Alberto Fernández and Prime Minister of Italy Giorgia Meloni.

The Global Biofuel Alliance is one of the priorities under India’s G20 Presidency.

Brazil, India, and the United States, as leading biofuel producers and consumers, will work together during the next few months towards the development of a Global Biofuels Alliance along with other interested countries.

Another major takeaway from Day 1 of the summit, was the announcement launch of a mega India-Middle East-Europe shipping and railway connectivity corridor by India, the US, Saudi Arabia and the European Union. (ANI)

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Modi G20 Presidency To Brazil Prez Silva

Modi Hands Over Gavel Of G20 Presidency To Brazil Prez Silva

By LokMarg 10th September 2023

Prime Minister Narendra Modi on Sunday handed over the ceremonial gavel of the Group of 20 presidency to Brazil President Luiz Inacio Lula da Silva at the G20 summit here.

“I congratulate Brazilian President and my friend Lula da Silva and hand over the gavel of Presidency,” PM Modi said minutes before the New Delhi G20 Summit concluded.

Earlier Indonesian President Joko Widodo and Luiz Inacio Lula da Silva handed over saplings to Prime Minister Narendra Modi ahead of Session 3 of the G20 Summit.

While Indonesia held the G20 presidency last year, Brazil will hold the presidency after India.

India took over the G20 presidency on December 1 last year at the G20 Summit at Bali in Indonesia and will continue to hold it till the end of November.

The New Delhi Declaration was adopted by G20 leaders on Saturday, the first day of the Summit.

The G20 leaders visited Rajghat on Sunday morning to pay tributes to Mahatma Gandhi. (ANI)

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Sunak With Wife Offer Prayers At Delhi’s Akshardham

By LokMarg 10th September 2023

United Kingdom Prime Minister Rishi Sunak and his wife Akshata Murty on Sunday offered prayers at Akshardham Temple in Delhi.

Sunak, who is on an official visit to the city for the G20 Summit arrived with wife Akshata at the Akshardham Temple early this morning to offer prayers before heading to Rajghat. Akshata was seen in a traditional salwar kurta and both she and Sunak were photographed barefoot inside the temple premises.

Earlier on Friday, Sunak had in an interaction with ANI called himself “a proud Hindu” and said he wished to visit the Mandir during his stay in the capital.

Elaborate security arrangements were put in place in and around the temple.

In a post shared on X, formerly known as Twitter, Akshardham Temple stated, “Honoured to welcome Prime Minister @RishiSunak and #AkshataMurthy to celebrate the shared cultural heritage between India and the UK.”

PM Sunak and his convoy arrived at 6.45 in the morning and were warmly welcomed in a traditional Hindu manner symbolising goodwill and friendship, the BAPS Swaminarayan Akshardham Temple said in a statement.

Sunak was then greeted by swamis, as well as senior leaders from the Temple who relayed a special message on behalf of Mahant Swami Maharaj, spiritual leader of BAPS.

The spiritual leader extended his personal wishes and prayers for Sunak and the other delegates, the temple authorities said.

“In the spirit of Vasudhaiva Kutumbakam, we pray for you and all the attendees: May the summit be a resounding success in collectively helping the whole world towards peace, righteous prosperity, and global harmony,” the message from Mahant Swami Maharaj, spiritual leader of BAPS read.

The UK Prime Minister was given an overview of the 100-acre spiritual and cultural complex that portrays the traditions and ancient architecture of India and promotes the timeless Hindu spiritual messages of faith, devotion and harmony, the statement read.

Sunak and his wife paid their respects to the sacred images in the and admired the art and architecture. The couple also performed abhishek (ritual pouring of water) on the murti of Shri Nilkanth Varni Maharaj, and offered prayers for world peace, progress and harmony, the BAPS said.

Speaking to ANI, the Akshardham Temple Director Jyotindra Dave said Sunak had an “extraordinary experience” at the temple.

“He enjoyed every minute here. He went on extending the time and the people were really worried that he had so many programs but nobody can say that we have to go out. It is he who decides and his wife also was very happy. He performed the Pooja and Aarti with a lot of faith…We showed him the temple and also gave him a model of the temple as a gift.”

While speaking to ANI on Friday, Rishi Sunak had expressed his hope that he will find time to visit a temple, here in India, during his stay for the G20 Summit.

“I am a proud Hindu. That’s how I was raised, that’s how I am. Hopefully, I can visit the Mandir while I am here for the next couple of days. We just had Rakshabandhan, so from my sister and my cousin, I have all my Rakhis,” Rishi Sunak said.

“I didn’t have time to celebrate Janmashtami. But hopefully, as I said I can make up for that if we visit a Mandir this time,” he added.

He further said that faith is something very important as it gives strength and resilience during stress.

“It is something that is important to me. I think faith is something that helps everybody who has faith in their lives, particularly when you have these stressful jobs like I do. Having faith gives you resilience, gives you strength that is important and it provides an outlook on life which I find particularly valuable,” Sunak added.

Rishi Sunak along with his wife Akshata Murty arrived in New Delhi on Friday to attend the G20 Summit hosted by India under its Presidency. (ANI)

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G20: Delegates Embrace Indian Fashion, Japan First Lady Dons A Saree

By LokMarg 9th September 2023

From Japanese Prime Minister Fumio Kishida’s wife Yuko Kishida to IMF chief Kristalina Georgieva, several top foreign dignitaries donned traditional Indian ensembles at the G-20 Dinner hosted by President Droupadi Murmu on Saturday night.

For the special occasion, all guests were dressed to the nines. Many opted to embrace Indian fashion in special ways.

IMF Chief Georgieva arrived at Bharat Mandapam in Delhi for the G-20 Dinner in a purple ethnic suit that she paired with a golden dupatta.

She looked exquisite in Indian wear.

Japanese PM Fumio Kishida’s wife Yuko Kishida wore a beautiful green saree. She complemented her outfit with a pink blouse.

South African President Cyril Ramaphosa’s wife Tshepo Motsepe donned an Indo-western outfit. She tied her hair in a bun and accessorised it with a gajra.

Prime Minister of Mauritius Pravind Kumar came for the dinner in a black bandhgala suit. His wife Kobita Jugnauth looked gorgeous in a saree.

Sheikh Hasina, Prime Minister of Bangladesh, exuded ethnic charm in a saree teamed with a pearl necklace.

UK Prime Minister Rishi Sunak’s wife Akshata Murty added a traditional touch to her modern outfit.

Before the start of the dinner, President Droupadi Murmu and Prime Minister Narendra Modi warmly welcomed world leaders at a dias, set against a backdrop depicting the ruins of the Nalanda University in Bihar and India’s G20 presidency theme — ‘Vasudhaiva Kutumbakam – One Earth, One Family, One Future’.

PM Modi wore a white kurta and churidar. He elevated his look with a blue V-neck striped jacket. President Murmu donned a traditional beige saree with a contrasting turquoise border.

Prior to the dinner, PM Modi met world leaders at the inaugural session of the two-day G20 Summit. (ANI)

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G20: African Union Becomes Full Member

By LokMarg 9th September 2023

In a landmark development, the African Union was made a full member of the Group of Twenty under India’s presidency of the G20.

Prime Minister Narendra Modi, in his inaugural address of the first session of the Global Leaders’ Summit, announced that the African Union has been made a full member of the G20 on Saturday.

“Honoured to welcome the African Union as a permanent member of the G20 Family. This will strengthen the G20 and also strengthen the voice of the Global South,” wrote PM Modi on X.

In his opening remarks at the 18th G20 Leaders’ Summit, PM Modi invited the AU, represented by Chairperson Azali Assoumani, to take a seat at the table of G20 leaders as a permanent member.

“With everyone’s approval, I request the AU head to take his seat as a permanent G20 member,” Modi said in his address.

Following PM Modi’s announcement, External Affairs Minister S Jaishankar accosted the President of the Union of Comoros and Chairperson of the African Union (AU), Azali Assoumani as he took his seat among world leaders.

Adding the African Union as a member of G20 was among India’s key aims to achieve during the ongoing G20 summit. African Union is a continental union consisting of 55 member states located on the continent of Africa.

The move to include the African Union in the G20 grouping was proposed by PM Modi earlier this June.

“Before we start the proceedings of G20, I want to express my condolences over the loss of lives due to an earthquake in Morocco. We pray that all injured recover at the earliest. India is ready to offer all possible assistance to Morocco in this difficult time,” PM Modi said in his inaugural address.

In June 2023, Prime Minister Modi said that he had written to G20 counterparts to provide the African Union with full membership at this G20 Summit. PM Modi had proposed that AU be given full membership on their request.

In a recent editorial that has been published in newspapers, PM Modi wrote “The voice of Global South Summit, which witnessed participation from 125 countries, was one of the foremost initiatives under our Presidency. It was an important exercise to gather inputs and ideas from the Global South. Further, our Presidency has not only seen the largest-ever participation from African countries but has also pushed for the inclusion of the African Union as a permanent member of the G20.”

Prior to the first session of the G20 Leaders’ Summit, PM Modi welcomed the global leaders at the G20 venue, Pragati Maidan’s Bharat Mandapam. It was an occasion of all hugs and handshakes.

Later, PM Modi addressed the inauguration of the first G20 Leaders’ session, where he welcomed AU to join G20.

Prime Minister Narendra Modi on Saturday called upon the international community to transform the global trust deficit into one of trust and reliance. He stressed that it is time for the world to move together.

In his address at Session-1 on ‘One Earth’ during the G20 Summit being hosted under India’s Presidency, PM Modi said, “Following the COVID pandemic, the world faced a new challenge of trust deficit and unfortunately, the wars have further deepened this. But we must remember that if we can defeat a pandemic like COVID, we can also win over the challenge of this trust deficit. Today, as the President of the G20, India calls upon the entire world to transform this global trust deficit into trust and confidence. This is the time for all of us to move together.”

He further said, “In this time, the mantra of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’ can be the torch bearer for us. Be it the divide between North and South, the distance between East and West, management of food and fuel, terrorism, cyber security, health, energy or water security, we will have to find a solid solid solution to this for future generations.”

PM Modi also invited the head of the African Union to take his seat as a member of the G20 as the first session of the Summit started in Bharat Mandapam, Pragati Maidan. Following this President of the Union of Comoros and Chairperson of the African Union (AU), Azali Assoumani took his seat as the Union and became a permanent member of the G20.

Before the start of the proceedings of the G20 Summit, PM Modi offered condolences over the loss of lives due to an earthquake in Morocco. PM Modi said, “We pray that all injured recover at the earliest. India is ready to offer all possible assistance to Morocco in this difficult time.”

Before the G20 Summit commenced, PM Modi welcomed world leaders, including US President Joe Biden, Canadian Prime Minister Justin Trudeau, UK PM Rishi Sunak, and German Chancellor Olaf Scholz.

As the leaders arrived one by one, they were greeted by PM Modi, in the backdrop showcased the Konark Wheel from Odisha. The Konark wheel was built during the 13th century under the reign of King Narasimhadeva-I. The wheel with 24 spokes has been adapted into India’s national flag embodying India’s ancient wisdom, advanced civilisation, and architectural excellence.

The rotating motion of the Konark Wheel, symbolizes time, Kalachakra as well as progress and continuous change. It serves as a powerful symbol of the wheel of democracy that reflects the resilience of democratic ideals, and commitment to progress in society.

The theme of this year’s G20 Summit, which is taking place under India’s presidency is “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future.” Notably, India assumed the G20 Presidency on December 1 last year. (ANI)

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Modi Announces Adoption Of G20 Leaders’ Summit Declaration

By LokMarg 9th September 2023

Prime Minister Narendra Modi on Saturday said consensus has been built on New Delhi G20 Leaders’ Summit Declaration and announced its adoption.

The Prime Minister, who is chairing the G20 sessions, congratulated the Sherpas and ministers who had worked towards forging the consensus.

“I have received good news. Due to the hard work of our team, consensus has been built on New Delhi G20 Leaders’ Summit Declaration. My proposal is to adopt this leadership declaration. I announce to adopt this declaration. On this occasion, I congratulate my Sherpa, ministers, who worked hard for it and made it possible,” he said.

The announcement of adoption of the declaration was welcomed with thumping of desks.

In his opening remarks at the Summit, the Prime Minister said that the 21st century is a time that has the potential to give a new direction to the entire world.

“It’s a time when years old challenges demand new solutions from us. Therefore, we must move forward by fulfilling all our responsibilities with a Human Centric approach,” he said. (ANI)

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G20: US, India, Saudi Arabia, UAE, EU Set To Unveil Railway, Ports Connectivity Deal

By LokMarg 9th September 2023

A shipping and rail transportation corridor linking countries across the Middle East, South Asia and Europe is likely to be announced on the sidelines of the ongoing G20 Summit in New Delhi, a White House official has said.

The United States, India, Saudi Arabia, the United Arab Emirates, the European Union and other G20 partners are set to explore the shipping and rail transportation corridor, which is aimed at aiding in the flow of commerce, energy and data from India across the Middle East up to Europe.

A memorandum of understanding (MoU) is expected to be announced at a meeting focused on global infrastructure on the sidelines of the G20 today according to White House Deputy National Security Advisor Jon Finer.

The leaders are meeting to discuss the global economy and supply chain challenges, among other issues facing the global community.

This agreement after it is inked could be seen as an alternate supply chain in a completely evolved post-pandemic world order.

Finer added that President Biden and Prime Minister Modi will meet with other leaders for an event focused on global infrastructure later today.

“The deal will benefit low and middle-income countries in the region, and enable a critical role for the Middle East in global commerce. We see this as having a high appeal to the countries involved, and also globally, because it is transparent because it is a high standard because it is not coercive,” Finer told mediapersons here.

Delving more on the initiative, Finer noted it was not just a railway project but more of a shipping and railway project.

“It is not just the Railway project, it is a shipping and Railway project and it is important for people to understand how expansive, ambitious and ground-breaking this will be” Finer added.

Finer termed this to-be-built project as “affirmative positive” aimed at serving the underserved.

“The way we see the infra project, it is an affirmative positive project. It has appeal for countries underserved by infra. We are not asking countries to make a zero-sum choice. We have seen other efforts that are not as ambitious, we feel good about contrast of what we provide,” White House Deputy National Security Advisor said.

The infrastructure deal is expected to connect countries in the Middle East via a network of railways. The network will also connect to India through shipping lanes from ports in the region. (ANI)

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G20 Declaration Focuses On Promoting Strong, Sustainable, Inclusive Growth: Jaishankar

By LokMarg 9th September 2023

External Affairs Minister S Jaishankar has said that the G20 Leaders’s Summit Declaration adopted on Saturday focuses on promoting strong, sustainable, balanced and inclusive growth.

Addressing a joint press conference, Jaishankar said the Declaration seeks to accelerate progress on Sustainable Development Goals and has come up with an action plan accordingly.

“The declaration the leaders have agreed on today, focuses on promoting strong, sustainable, balanced and inclusive growth. It seeks to accelerate progress on SDGs and has come up with an action plan accordingly,” the minister said.

“It envisages a green development pact for a sustainable future, it endorses high-level principles on lifestyle for sustainable development, voluntary principles of hydrogen, the Chennai principles for a sustainable resilient blue economy and the Deccan principles on food security and nutrition among others,” he added.

He said the message of India’s presidency is ‘One Earth, One Family and we share One Future’ and the country has “consciously sought to make this G20 as inclusive and broad-based as possible”.

“It’s witnessing the participation of its 20 member states, nine invitee states and 14 international organisations. It is a matter of particular satisfaction for us that the African Union is a permanent member,” he said.

The minister said that transformative and inclusive role of technology has been highlighted with a focus on digital public infrastructure.

Earlier, Prime Minister Narendra Modi announced at the G20 Summit that consensus has been built on New Delhi Leaders’ Summit Declaration. He announced its adoption.

The announcement of adoption of the Declaration was welcomed with thumping of desks.

The G20 Summit is being held in New Delhi on September 9 and 10. (ANI)

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India Got 100% Consensus On New Delhi Declaration: G20 Sherpa Kant

By LokMarg 9th September 2023

Calling the New Delhi Declaration “historical and path breaking,” G20 Sherpa Amitabh Kant on Friday said that 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 . Demonstrates PM @narendramodi leadership in today’s world,” Kant said on a post shared on X.

“The #NewDelhiLeadersDeclaration focuses on – Strong, Sustainable, Balanced, and Inclusive Growth Accelerating Progress on #SDGs Green Development Pact for a Sustainable Future Multilateral Institutions for the 21st Century Reinvigorating Multilateralism,” he added.

On the social media account, Kant further said that G20 India has been the most ambitious in the history of the presidencies. With 112 outcomes and presidency documents, we have more than doubled the substantive work from previous presidencies.

India’s G20 Presidency has been inclusive, ambitious, decisive, action-oriented and unafraid to challenge the status quo. Under PM Modi, India have given a strong call to action for the leaders to take G20 to the last mile.

Earlier, PM Modi announced, “I have received good news. Due to the hard work of our team, consensus has been built on New Delhi G20 Leaders’ Summit Declaration. My proposal is to adopt this leadership declaration. I announce to adopt this declaration. On this occasion, I congratulate my Sherpa, ministers, who worked hard for it and made it possible…”

India’s Footprint on G20 Outcomes are in Deccan High-Level Principles on Food Security and Nutrition, Chennai High-Level Principles for Blue/Ocean Economy, Goa Roadmap for Tourism, Gandhinagar Implementation Roadmap for land restoration and Jaipur Call for Action to enhance MSMEs access to information, as per the sources.

Earlier today, PM Modi addressed the Session-I on ‘One Earth’ during the G20 Summit where he began by expressing condolences for the victims of the recent earthquake in Morocco.

He then invited the head of the African Union to take his seat as a member of the G20. External Affairs Minister S Jaishankar accompanied the President of the Union of Comoros and Chairperson of the African Union (AU), Azali Assoumani as he took his seat among world leaders.

“With everyone’s approval, I request the African Union Chairperson to take his seat as a permanent G20 member,” PM Modi said.

In his remarks at the first session of the G20 Summit, PM Modi said, “The 21st century is a time that has the potential to give a new direction to the entire world. It’s a time when years-old challenges demand new solutions from us. Therefore, we must move forward by fulfilling all our responsibilities with a human-centric approach.”

“Noting that India’s G20 Presidency has become a symbol of inclusion both inside and outside the country, Prime Minister Narendra Modi said on Saturday that it has become “People’s G20” in India and crores of citizens are connected with it.

In his opening statement, he said, “India’s G20 presidency has become a symbol of inclusion, of ‘sabka saath’ both inside and outside the country. This has become the People’s G20 in India. Crores of Indians are connected to this. In more than 60 cities of the country, more than 200 meetings have taken place. With the sense of ‘Sabka Saath’, India had proposed that the African Union be granted permanent membership of G20. I believe that all of us agree to this proposal.”

PM Modi noted that the world has faced a new challenge of trust deficit after COVID-19. He referred to the conflict between Ukraine and Russia and said the war had deepened the trust deficit further. (ANI)

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