Indian Prime Minister Narendra Modi says his country’s role as the G20 host this year would focus on highlighting the concerns of the developing world, and has proposed the African Union to become permanent members of the forum.
Indian Prime Minister Narendra Modi speaks at a special session of the Business 20 or B20 Summit ahead of the G20 Summit to be held in September, in New Delhi, India, Sunday, Aug. 27, 2023. The B20 is the official G20 dialogue forum with the global business community, which aims to deliver concrete actionable policy recommendations on priorities by each rotating presidency to spur economic growth and development.
Over three days, industry and policy leaders from around the world have discussed themes like building resilient supply chains, digital transformation, debt distress facing developing countries and how to advance on climate change goals. Their recommendations will be shared with the G20 governments, organizers said.
He said the G20 has so far deliberated on rising debt, sustainable development, climate action and food security, among other issues that affect low to middle-income countries. “The core mandate of the G20 is to promote economic growth and development. This cannot advance if the crucial concerns of the Global South are not addressed,” Jaishankar added.
Piyush Goyal, India's minister of commerce and industry, said that joining the bloc would have increased trade between the two Asian giants, but it would have also increased the trade deficit.
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