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The day before the G20 Summit begins and barely three months after the Indo-US joint statement hailed ties spanning “seas to stars,” Prime Minister Narendra Modi and visiting US President Joe Biden made progress in a sweeping range of areas they had flagged last June: from space research and cancer to critical tech and small modular nuclear reactors.
Their 29-paragraph joint statement focused exclusively on the bilateral agenda. Unlike the 58-paragraph statement last June during PM Modi’s State visit to the US, it made no mention of regional and global issues, counter-terrorism or situation in the neighbourhood including Afghanistan, Pakistan and Myanmar.
After the meeting, the Prime Minister’s Office said: “The two leaders also exchanged views on a number of regional and global issues.
They agreed that the India-US partnership was beneficial not only for the people of the two countries but also for global good.” Modi tweeted, “Our meeting was very productive.
We were able to discuss numerous topics which will further economic and people-to-people linkages between India and USA. The friendship between our nations will continue to play a great role in furthering global good.”
India: Summit declaration will be voice of global South developing countries (Page no. 1)
(GS Paper 2, International Relation)
As world leaders arrived for the G20 Summit starting, that the New Delhi Declaration at the end of the Summit will be “a voice of the Global South and the developing countries”.
Addressing a press conference on the eve of the two-day Summit, India’s G20 Sherpa Amitabh Kant said, “The New Delhi Leaders’ Declaration, which many of you will see post the Summit, you will see it as a voice of the Global South and the developing countries.
No document in the world would have such a strong voice for the Global South and the developing countries as the New Delhi Leaders’ Declaration.”
Our New Delhi Leaders’ Declaration is almost ready. I would not like to delve into it because the declaration will be recommended to the leaders and only after it has been accepted by the leaders, we will be able to talk about the actual achievements of this declaration.
Change in Beijiing approach raises hopes, negotiators look at 50 plus deliverables (Page no. 1)
(GS Paper 2, International Relation)
As the G20 Sherpas, the chief negotiators and their teams, moved from Manesar to New Delhi for the last round of negotiations before the Leaders’ Summit starting Saturday, negotiators sensed a perceptible change in Beijing’s approach to many issues on the table, according to officials from Western countries and others in the grouping.
This is significant since the G20 grouping faces the challenge of not reaching a consensus, given that the G7 countries are on one side and the Russia-China bloc is aligned on the other side.
That could mean there is no joint communique at the end of the New Delhi summit — if that happens, it will be a first since the G20 Summits began in 2008.
The Chinese negotiators, a diplomat from one of the G7 countries said, are playing a “constructive role” in many areas, especially those impacting the interests of the developing countries.
It is much better than expected, and while they are protecting their core interests, they have not been spoilers. They are engaging in a very rational manner,” a negotiator from another G7 country.
G20 in New Delhi
Summit will chart new path in inclusive and human centric development: Modi (Page no. 8)
(GS Paper 2, International Organisation)
Setting the tone for the G20 Summit that begins Saturday, Prime Minister Narendra Modi said on that it will chart a “new path in human-centric and inclusive development”. Invoking Mahatma Gandhi, he said it is important to emulate his mission of serving the underprivileged – “the very last person in the queue”.
This framing is important since India is taking the lead in voicing the concerns of the developing and under-developed countries, popularly known as the Global South, who have been adversely impacted by the Russia-Ukraine war.
According to sources, Modi, who is meeting US President Joe Biden, Bangladesh Prime Minister Sheikh Hasina and Mauritius Prime Minister Pravind Kumar Jugnauth on Friday, is expected to hold about 15 bilateral meetings over three days.
In addition to the G20 meetings, Modi will hold bilateral meetings with the UK, Japan, Germany and Italy. He will hold a working lunch meeting with French President Emmanuel Macron. He will also do a pull-aside meeting with Canada and bilateral meetings with Comoros, Turkey, UAE, South Korea, European Union/European Commission, Brazil and Nigeria.
Planetary defence to ISS and nuclear reactors, big push for space and energy (Page no. 8)
(GS Paper 3, Science and Technology)
Taking A step forward from the last meeting of their leaders, India and the US on said the two countries were making efforts towards the establishment of a working group on greater collaboration in space-related commerce.
Following a meeting between Prime Minister Narendra Modi and President Joe Biden on Friday, on the sidelines of the G20 Summit, the two countries also spoke about closer cooperation in the field of nuclear energy, especially in the development of next-generation small modular reactor technologies.
Space cooperation had formed a very important part of the joint statement between the two countries during Prime Minister Modi’s state visit to the US in June this year.
At that time, the two countries had announced that India would join the US-led Artemis Accords for planetary exploration, and that the space agencies of the two countries, ISRO and NASA, would mount a joint mission to the International Space Station in 2024.
The joint statement following their meeting on Friday reiterated those commitments and progressed a little further.
Having set a course to reach new frontiers across all sectors of space cooperation, the leaders welcomed efforts towards establishment of a Working Group for commercial space collaboration under the existing India-US Civil Space Joint Working Group. The two countries also announced their intention to work together on planetary defence.
As distance from China grows, India and US work on technology projects – Chips to AI (Page no. 8)
(GS Paper 2, International Relation)
As Prime Minister Narendra Modi and US President Joe Biden held a bilateral meeting on Friday ahead of the G20 Summit, they reiterated their stance on building resilient global semiconductor supply chains.
And in a signal that highlights the two countries’ growing distance from China, India also supported the US’s ‘Rip and Replace’ pilot project, which mandates that American companies tear out telecom equipment made by the Chinese companies Huawei and ZTE – a move that has already been implemented by New Delhi as part of its 5G launch.
The leaders continue to look forward to the participation of Indian companies in the US Rip and Replace programme, a joint statement issued by India and the US said.
It said that Modi and Biden “expressed satisfaction” over the current status of the investment announcements that were made by American chip companies such as Micron Technology, Microchip Technology, AMD, LAM Research and Applied Materials.
Memory manufacturer Micron has committed an investment of around $825 million to set up a chip packaging plant in Gujarat, as part of India’s $10 billion incentive scheme for chipmaking.
The plant will cost a total of $2.75 billion, with the rest of the funds coming from the Centre and the state government.
UN Chief: Need to do all we can to end Russia – Ukraine conflict (Page no. 9)
(GS Paper 2, International Organisation)
UNITED NATIONS Secretary-General Antonio Guterres, who arrived in New Delhi for the G20 Summit, said that he is not very hopeful of a peace solution for the Russia-Ukraine conflict in the near future, but all efforts of mediation were important and “everything possible” needs to be done to end the situation.
When asked if India has the credibility to be a mediator in the Russia-Ukraine conflict, Guterres told reporters, “When you have a conflict, all efforts of mediation are extremely important. I am not very hopeful that you will have a peace solution in the immediate future.
I believe the two parties have decided to move on with the conflict and obviously, we need to try to do everything possible for this dramatic situation to find an end.
The chief of the United Nations, which has 193 countries as member-states, said that if the world is indeed one global family, we today resemble a rather dysfunctional one.
I hope India’s presidency of the G20 will help lead to the kind of transformative change our world so desperately needs in line with the repeated commitment of India to act on the behalf of Global South and its determination to pursue the development agenda, welcoming India’s focus on ‘One Earth, One Family, One Future’.
UN’s global climate stocktake flags large deficits as G20 drags its feet (Page no. 9)
(GS Paper 3, Environment)
EVEN AS the G20 struggles to find an agreeable language on climate change to be included in its joint communique, a new report released by UN Climate highlights the rapidly closing window of opportunity to contain rise in global temperatures within 1.5 degree Celsius from pre-industrial times.
The synthesis report of the Global Stocktake (GST), a Paris Agreement-mandated exercise at assessing the progress on climate action, notes that while headway had indeed been made, countries were nowhere close to achieving targets that would keep global warming under agreed levels.
Citing previous assessments, the synthesis report pointed out that keeping the chances of meeting the 1.5 degree Celsius target implied a reduction of “around 43, 60 and 84 per cent in global GHG (greenhouse gas) emissions below the 2019 level by 2030, 2035 and 2050 respectively”.
It noted that even with countries continuing to take their current climate actions, global greenhouse gas emissions in 2030 was expected to be about 24 billion tonnes of carbon dioxide-equivalent more than where it should be to keep the 1.5 degree Celsius hopes alive.
Editorial
Why Delhi shows the way (Page no. 10)
(GS Paper 2, International Organisation)
The 18th G20 Leaders’ Summit meeting commences today. It has started on a positive note, with the strengthening bilateral of two important G20 members — host India and the US — reinforced, in recent times, by business deals, defence partnerships and leader-to-leader bonhomie.
Other bilateral meetings will be similarly strong. With the Chinese and Russian leadership staying away, there will be less friction to manage.
It is therefore a good time to assess how much India has learned about becoming a multilateral leader, and how much multilateral leaders have learned to accommodate emerging powers.
The exercise is necessary, for as the “economic steering committee of the world,” the G20 multilateral carries a heavy responsibility, especially as the United Nations is no longer seen to be a global problem-solver.
India’s goals for the year are international, domestic and specific to G20. Its presidency began with two parallel crises — the overhang of the Covid-19 pandemic and the Russia-Ukraine war, both affecting economies and geopolitics.
On the pandemic, India had a head start, having managed the Covid-19 crisis well, and making pandemic preparedness the focus of its presidency.
Health is part of India’s domestic agenda too, so this particular global crisis received the three-dimensional attention it needed for 2023. India will carry the successful health track experience into the Brazilian and South African presidencies too.
World
Philippines and Australia upgrade ties to strategic partnership (Page no. 15)
(GS Paper 2, International Relation)
Australia and the Philippines agreed to hold annual defence ministers’ meetings as the two nations upgraded bilateral ties to a strategic partnership amid rising security challenges in the region, including in the South China Sea.
Australian Prime Minister Anthony Albanese signed a strategic partnership agreement with Philippine President Ferdinand Marcos Jr. during his trip to Manila, the first visit by an Australian leader in 20 years.
“Australia is working with our partners including the Philippines to shape a region where sovereignty is upheld,” Albanese said in a joint press conference with Marcos after holding bilateral talks. Marcos said their countries’ close ties were “terribly important”.
The Philippines last month held military exercises near the South China Sea with Australia, its second-largest partner in defence security.
It is also one of only two bilateral partners with whom the Philippines has a Status of Visiting Forces Agreement, which allows two countries to undertake joint exercises, high-level visits, dialogues and exchanges.
Economy
RBI to discontinue I-CRR in a phased manner from today (Page no. 21)
(GS Paper 3, Economy)
Reserve Bank of India (RBI) announced the discontinuation of the incremental cash reserve ratio (I-CRR) in a phased manner beginning September 9.
On August 10, the RBI asked banks to maintain an I-CRR of 10 per cent on the increase in their net demand and time liabilities (NDTL) between May 19, 2023 and July 28, 2023. The RBI said that it will review the I-CRR on September 8 or before.
The I-CRR is an additional cash balance which the RBI can ask banks to maintain over and above the cash reserve ratio – the minimum amount of the total deposits that banks have to keep with the central bank – for a specific period.
The I-CRR was announced as a temporary measure aimed at absorbing the surplus liquidity caused due to the return of Rs 2,000 banknotes to the banking system, surplus transfer to the government by the RBI, pick up in government spending and capital inflows.
Self-regulatory organisation for fintechs: How it will benefit the sector (Page no. 21)
(GS Paper 3, Economy)
Reserve Bank of India (RBI) Governor Shaktikanta Das has asked fintech entities to form a Self-Regulatory Organisation (SRO).
An SRO can help in establishing codes of conduct for its members that foster transparency, fair competition, and consumer protection.
It can act as a watchdog and encourage members to adopt responsible and ethical practices. It can provide a link between the regulator and market participants through a less formal set-up.
An SRO is a non-governmental organisation that sets and enforces rules and standards relating to the conduct of entities in the industry (members) with the aim of protecting the customer and promoting ethics, equality, and professionalism.
Their self-regulatory processes are administered through impartial mechanisms such that members operate in a disciplined environment and accept penal actions by the SRO.
An SRO is expected to address concerns beyond the narrow self-interests of the industry, such as to protect workers, customers or other participants in the ecosystem.
Explained
As world leaders gather in New Delhi, a G20 primer (Page no. 23)
(GS Paper 2, International Organisation)
Leaders from the most powerful nations in the world are flocking to New Delhi for the G20 Heads of State and Government Summit to be held on September 9-10.
The culmination of India’s year-long presidency of the G20, the summit will be concluded with the adoption of a G20 Leaders’ Declaration, which will state the participating leaders’ commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings (more on that later).
Here is everything you need to know about the G20 – from why the group came into existence and what exactly it does, to the specifics of the Summit that New Delhi is set to host.
The G20, or the Group of Twenty, comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States) and the European Union.