India

G20 Sherpas All Set To Discuss Revised Draft Communique, Silent On Ukraine

PM Narendra Modi’s proposal to include the African Union as a full G20 member has found overwhelming support from the group of developed and emerging economies and the issue has been flagged in the revised draft communique which will be discussed at the crucial third G20 sherpas meet in this historic temple town, source said.

Last month, the PM had written to G20 counterparts proposing that the African union be given full membership of the group in the upcoming Delhi leaders summit in early September. “All the members have supported the proposal and we have included it in the revised draft,” said a government official, adding that Russia and China too are backing it.

India had earlier floated the draft communique and has now moved the revised draft after receiving comments from G20 members and the focus has been on issues that New Delhi wants to flag under its presidency such as growth, development, addressing the debt crisis, and issues confronting the global south. The G20 leaders summit will be held in the national capital from September 9.

The revised draft also puts emphasis on “accelerated, inclusive and resilient growth” and has put forward several proposals to address the global problems of the “cost of living” crisis. There are also proposals to address the debt crisis gripping a large part of the world and also building cities, resilient infrastructure, and addressing skill shortages.

India has also put forward proposals to enhance the ease of doing business across the world and has called for greater participation from the private sector. There are also crucial points on addressing the climate change issues and providing finance for meeting the challenges. It has also called for calibrated fiscal and monetary policies that protect the poor and stability in emerging markets. The issue of reforming multilateral institutions and providing more voice to emerging economies has also found mention.

The issue of drawing up a framework for regulating cryptocurrencies has also found mentioned in the revised draft.

A paragraph has, however, been left blank on the issue of the Russia-Ukraine conflict that has emerged as a sticking point in the discussions of the group of rich and emerging countries. India has maintained that the G20 should remain an economic and development forum.

India has also said that it has the backing of G20 members to push ahead with the issues flagged during its presidency and is hopeful of differences over the Ukraine-Russia conflict being resolved in time for the leaders’ summit in Delhi in September.

After the G20 sherpas meeting at Kumarakom in Kerala India had said all emerging countries have said that issues such as global debt overhang, slowing global growth, inflation, and climate action are key for them and need to be deliberated at the forum extensively for possible resolution.

Bharat Express English

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