After then, Prime Minister Modi extended an invitation to Azali Assoumani, the President of the Union of Comoros and the current Chairperson of the African Union (AU), to join the high table of the G20 summit.

Assoumani was ushered to his seat by External Affairs Minister S Jaishankar, who was met with cheers and ovation by the audience. After being seated, Assoumani and Prime Minister Modi exchanged a passionate embrace.

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During his speech at the G20 Summit, Prime Minister Modi remarked, “With support from all of you, I invite the African Union to join the G20.” The idea of including this significant part of the southern hemisphere in the club of the leading economies of the globe was enthusiastically accepted.

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“In the spirit of sabka saath, which translates to “with everyone,” India has suggested that the African Union be granted permanent membership in the G20. Regarding this proposition, I am confident that there is consensus among us all. “With your agreement (he banged the gavel three times),” Modi added. “Thank you very much.”

The African Union, which is comprised of 55 different nations, is now a permanent member of the G20.

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On X, which was formerly known as Twitter, the Prime Minister of India, Narendra Modi, posted the following message: “Honored to welcome the African Union as a permanent member of the G20 Family.” The G20 will benefit from this, as will the voices of countries in the Global South.

For a very long time, India has been advocating for the African Union to become a member of the G20. The letter that Prime Minister Modi sent to the leaders of the G20 in June of this year pitched the idea of making the African Union a permanent member of the gathering.

The African Union (AU) is a powerful organization that consists of 55 member states that are the countries that are found on the African continent.

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At the Goa G20 meeting, the renewable energy ministers signed the loan agreements. The business issued a statement from Goa saying, “We will receive Rs 32,000 crore (USD 3.9 billion) each from PFC and REC for financing its current and upcoming energy transition projects,” but did not provide any further specifics about the projects or a schedule for disbursements.

Solar, wind, hybrid, energy storage, solar module and cell production, and green hydrogen are just some of the new initiatives that the corporation plans to invest in with these funds, according to the release. Corporate Finance President at Renew Kailash Vaswani has noted that the company has worked with PFC and REC, two of the largest lenders in the energy industry, for a long time.

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These loan agreements will help us fulfil our immediate and future finance needs, and they will show that we are capable of securing long-term funding for significant renewable energy initiatives. As of the third month of 2022, Renew’s portfolio is worth around 13.4 GW on a gross basis. It is not just a major IPP, but also a full-service provider of clean energy, green hydrogen, and value-added energy services by leveraging digitalization, storage, and carbon markets, all of which are becoming increasingly important in the fight against climate change.

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The ambassador Taranjit Singh Sandhu welcomed her. Sitharaman is visiting the United States for one week.

The FM of the Union Nirmala Sitharaman will participate in spring meetings with Finance Ministers and Central Bankers from around the globe. The meeting is scheduled for today at the IMF headquarters in Washington, DC.

Sitharaman and Shaktikanta Das, governor of the Reserve Bank of India, will co-chair the April 12 meeting of G20 finance ministers and central bank governors.

Approximately 350 delegates from G20 member nations, 13 invited nations, and numerous international and regional organizations will attend.

They will engage in multilateral discussions concerning a wide range of urgent global issues. During the meeting, topics such as addressing food and energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks, mobilizing finance for climate action, and accelerating progress on International Tax and Financial Sector issues will be prioritized.

According to the Finance Ministry, the meeting will assess the progress made toward the outcomes envisioned by India’s G20 Finance Track agenda.

The 2nd G20 FMCBG meeting will advance preparations for the G20 India Finance Track deliverables for the 3rd G20 FMCBG meeting, which will take place in Gandhinagar, Gujarat, in July of this year.

It is anticipated that these meetings will provide informed contributions to the Leaders Declaration that will be adopted at the New Delhi Summit in September 2023.

The second G20 FMCBG meeting will include three sessions: global economy and international financial architecture, sustainable finance, financial sector and financial inclusion, and international taxation.

“Attacking food & energy insecurity, managing global debt vulnerabilities, strengthening Multilateral Development Banks (MDBs), mobilising finance for climate action, advancing financial inclusion, and accelerating progress on International Tax and Financial Sector issues will be the focus of these sessions. The meeting will assess the progress made toward the outcomes envisioned in India’s G20 Finance Track agenda, according to an official release.

On Tuesday, the Finance Minister will meet with US Treasury Secretary Janet Yellen for a high-level meeting to discuss issues of mutual interest.

On April 12, 2023, India, the International Monetary Fund, and the World Bank will co-chair a meeting of the Global Sovereign Debt Roundtable to discuss the current global debt landscape and methods to address existing challenges in debt restructuring.

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“On April 14, 2023, a high-level seminar titled “Macro-financial implications of Crypto assets” will be conducted to examine the macro-financial implications of Crypto Assets and to discuss policies to maximize benefits and mitigate risks. The release states that on April 15, 2023, Smt. Sitharaman will convene with the G20 Expert Group on Strengthening MDBs to discuss the need for an updated MDBs ecosystem for the 21st century in order to finance sustainable development goals and transboundary challenges.

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Before a meeting of foreign ministers of the group, which is expected to be divided over condemning Russia’s aggression, the G20 was urged on Wednesday to focus on the economic repercussions of the Ukraine crisis, particularly food and energy security, on developing countries.

Foreign secretary Vinay Kwatra acknowledged at a media briefing that the Russia-Ukraine conflict will be a major topic of discussion at the G20 foreign ministers’ meeting on Thursday, but he declined to speculate on whether the meeting will approve a joint communique in the face of China and Russia’s objections to the inclusion of any language condemning Moscow’s actions.

Kwatra stated, in response to a flurry of questions about the impact of the European war on the G20 process, that the Indian agenda for the meeting encompasses the concerns and priorities of the Global South, including the impact of the Ukraine crisis on food, energy, and fertiliser security, sustainable development, and access to climate finance and technology.

In reference to the economic and development impacts of the war as well as the challenges facing developing countries, he stated, “I believe it is equally important to focus on these as well as the Russia-Ukraine conflict.”

He added, “I do not believe it would be appropriate for me to predict the outcome of the meeting of G20 foreign ministers. Let the [participants] decide, but we are very clear that the foreign ministers should focus on all the priorities that are very relevant in the current global context.”

China and Russia opposed the inclusion of two paragraphs condemning the war and criticising Moscow’s actions, preventing the G20 finance ministers from reaching a consensus on a joint statement at their meeting in Bengaluru last week. Diplomats from a number of G20 nations, speaking on condition of anonymity, conceded that it is unlikely that the foreign ministers will agree on a joint communique, given the stark differences between the G7 and China-Russia.

The head of the European Union’s (EU) foreign and security policy told reporters, “This war must be condemned.” “I am confident that India’s diplomatic capacity will be utilised to convince Russia that this war must end.”

The EU delegation, one of the forty delegations present at the meeting, made it clear that it would not support any statement that did not condemn the war.

The British foreign office announced that foreign minister James Cleverly will “continue to condemn Russian aggression in Ukraine” at the G20 summit and urge partners to work together to address the most pressing global challenges.

Russia’s foreign ministry announced earlier that it will use the summit to identify those responsible for the global political and economic crises. “We intend to discuss the causes and instigators of the current serious problems in world politics and the global economy with firmness and candour,” it said in a statement.

“The destructive policy of the United States and its allies has already brought the world to the brink of disaster, caused a reversal in socio-economic development, and gravely exacerbated the plight of the poorest nations,” the report continued.

A joint communique is optional at the meeting of foreign ministers, and a similar meeting held in Indonesia on July 7-8, 2022 concluded without even a chair’s summary. At that time, G7 foreign ministers boycotted a dinner because Sergey Lavrov was in attendance. Subsequently, Lavrov stormed out of a meeting while his German counterpart Anna Baerbock was speaking.

India has thus far refrained from publicly criticising Russia’s invasion of Ukraine and has abstained from voting on Ukraine-related resolutions at UN bodies, including the recent adoption by the UN General Assembly of a resolution urging Russia to withdraw all its military forces from Ukraine immediately.

Kwatra summed up India’s stance on the Ukraine conflict by referencing Prime Minister Narendra Modi’s comments to Russian President Vladimir Putin during their meeting in Samarkand last year – that this is not the era of war – and the country’s consistent demand that the crisis be resolved through dialogue and diplomacy. He stated that these factors influenced India’s contributions to the consensus reached at the last G20 summit in Bali.

“Clearly for us, questions relating to food, energy, and fertiliser security, the impact that the conflict has on these economic challenges, new and emerging threats, the problem of counter-terrorism and counter-narcotics, the issues we face on the reform of multilateralism – each of these is a very significant and substantial issue that is absolutely essential for the Global South,” Kwatra said.

India has positioned itself as the voice of the Global South in the G20 process, and in January it convened a virtual summit of 125 developing states to collect their concerns and expectations from the G20. According to those with knowledge of the situation, there is no possibility of India moving away from the joint statement issued at the Bali summit, which was partially repeated in the chair’s summary issued in Bengaluru.

The first of two sessions that S Jaishankar will preside over on Thursday will focus on strengthening multilateralism and the need for reforms, food and energy security, and development cooperation. The second session will cover counterterrorism and new and emerging threats, global skill mapping, and humanitarian aid and disaster relief.

This agenda also reflects India’s priorities, which include inclusive and resilient growth, progress towards the Sustainable Development Goals (SDGs), green development and sustainable lifestyles, technological transformation, G20 collaboration on public digital infrastructure, and women-led development.

Former ambassador Talmiz Ahmad stated that the G20 is becoming mired in the dispute between the United States-led G7 and China and Russia. “Let’s be very frank and objective: the West, led by the United States, wants to confront China and Russia, which it views as an existential threat because they are mobilising support for a new world order. “The West is unwilling to accept any challenge, and their concerns regarding Ukraine trump all others,” he stated.

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In addition, the West has “no interest in the global economic issues raised by developing nations,” so India must concentrate on South-South cooperation. “However, this must be a sincere effort that is carried out by multilateral organisations that represent the Global South,” Ahmad said.

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