External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi reviewed progress in the disengagement of troops in Demchok and Depsang in eastern Ladakh in a meeting on the sidelines of the G20 summit.

It was the first high-level engagement between the two sides after completion of the disengagement process in the two friction points along the Line of Actual Control (LAC) in the mountainous region.

After his talks with Mr. Wang, Mr. Jaishankar said that both sides also exchanged views on the next steps in the India-China bilateral ties.

“On the sidelines of the G20 Summit in Rio, met CPC Politburo member and FM Wang Yi of China,” the external affairs minister posted on X late on Monday.

“We noted the progress in the recent disengagement in the India-China border areas. And exchanged views on the next steps in our bilateral ties. Also discussed the global situation,” he said.

Brazil is hosting the G20 Summit on Monday and Tuesday.

Indian and Chinese militaries completed the disengagement exercise in Demchok and Depsang last month after the two sides reached an agreement to resolve the festering border row.

The two sides also resumed patrolling activities in the two areas after a gap of almost four-and-a-half years.
 

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Rio de Janeiro:

G20 leaders met in Rio de Janeiro on Monday for talks on climate change, ongoing wars in Ukraine, Gaza and Lebanon, and more, at a forum that highlighted differences between world powers but also delivered some successes.

Here are five key takeaways from the summit: 

No climate breakthrough

Hopes were high that G20 leaders would jumpstart stalled UN climate talks taking place in Azerbaijan.

In their final declaration, however, they merely recognized the need for “substantially scaling up climate finance from billions to trillions from all sources.”

Crucially, they did not say who would provide the trillions.

They also did not reiterate a commitment made at the COP28 climate talks in Dubai last year for a “just, orderly, and equitable transition” away from fossil fuels.

“They haven’t stepped up to the challenge,” Mick Sheldrick, co-founder of the Global Citizen campaign group said.

Ukraine war

The war in Ukraine dominated discussions at the G20, a day after the United States gave Kyiv the green light to strike Russian territory with American-supplied long-range missiles.

Russia vowed a “response” if hit.

Chinese President Xi Jinping, who together with Brazil has been pushing for Kyiv to enter peace talks with Russia, urged the G20 to help “cool” the war.

In their final statement, G20 leaders said they welcomed “all relevant and constructive initiatives that support a comprehensive, just, and durable peace” in Ukraine.

While condemning, as at last year’s G20 summit, the “threat or use of force to seek territorial acquisition,” they made no mention of Russian aggression.

Lebanon, Gaza ceasefire calls

The leaders of the G20 — which mixes steadfast Israel allies such as the United States and Argentina with countries like Turkey that are more supportive of Palestinians — called for “comprehensive” ceasefires in both Gaza and Lebanon.

They said the Gaza ceasefire should be in line with a US-proposed UN resolution calling for a permanent ceasefire in the territory in return for the release of all hostages by Hamas.

It also called for a Lebanon ceasefire “that enables citizens to return safely to their homes on both sides of the Blue Line” that separates Lebanese and Israeli armed forces.

Tax the super-rich

The G20 endorsed the idea of cooperating to make sure “ultra-high-net-worth individuals are effectively taxed,” delivering a victory to summit host Brazilian President Luiz Inacio Lula da Silva.

It said though that such cooperation should be “with full respect to tax sovereignty” and involve “debates around tax principles” as well as coming up with anti-avoidance mechanisms.

An economist specializing in inequalities who was tapped by the Brazilian G20 presidency to write a report on the issue, Gabriel Zucman, hailed the “historic decision.”

Alliance against hunger

One of the issues dearest to President Lula was forging a global alliance against hunger, and he received an early success by launching that initiative at the start of the summit, getting 82 countries to sign on.

The alliance aims to unite international efforts to provide financing in the campaign against hunger, and to replicate programs that have proved successful in some countries.

The goal is to reach half a billion people by the end of the decade, reducing what Lula — who grew up in poverty — has called a preventable “scourge that shames humanity.”

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Rio de Janiero:

Prime Minister Narendra Modi on Monday met United States President Joe Biden at the 19th G20 Summit being held at Rio de Janeiro in Brazil and said it is “always a delight to meet him.”

“With @POTUS Joe Biden at the G20 Summit in Rio de Janeiro. Always a delight to meet him,” PM Modi said in a post on X.

PM Modi also met UN Secretary-General Antonio Guterres. He also had an interaction with Singapore Prime Minister Lawrence Wong.

“A wonderful interaction with Prime Minister Lawrence Wong of Singapore during the G20 Summit in Rio de Janeiro,” he said in a post on X.

Earlier, PM Modi thanked Brazilian President Lula da Silva for the warm welcome upon his arrival at the venue of the G20 Summit.

“Looking forward to the proceedings at the G20 Summit in Rio de Janeiro. Thankful to President Lula for the warm welcome,” he said in a post on X.

President Lula and PM Modi were seen shaking hands and briefly interacted with each other.

Prime Minister arrived in Brazil in the second leg of his three-nation visit. India is part of the G20 Troika along with Brazil and South Africa and has been actively contributing to the ongoing G20 Summit discussions.

During the Summit, Prime Minister will put forward India’s positions on various issues of global importance and build on the outcomes from the G20 New Delhi Leaders’ Declaration and Voice of the Global South Summits which were hosted by India in the past two years.

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Geneva:

External Affairs Minister S Jaishankar, when asked about the need for BRICS while a grouping like G20 already existed, responded that if the G7 can exist when there is the G20, there is no reason why BRICS cannot.

Mr Jaishankar said this during a conversation with Ambassador Jean-David Levitte at Geneva Centre for Security Policy, a think tank.

BRICS was founded as an intergovernmental organisation by Brazil, Russia, India and China in 2009, with South Africa joining in later. In January this year, five new countries – Iran, Saudi Arabia, Egypt, UAE and Ethiopia – joined the bloc.

“Why the club? Because there was another club. It was called the G7 and you will not let anybody else into that club. So, we go and form our own club,” the foreign minister said.

“I’m still struck by how insecure the (Global) North is when you speak about the BRICS. Somehow, something seems to get under people’s skin,” he said.

“Here’s an observation. There is a G20, did the G7 disband? Has it stopped meeting? No, it still continues. So, the G20 exists, but the G7 still exists. Then, why can’t the G20 be there and the BRICS also exist?” he said further.

Mr Jaishankar also talked about the Global South. “The countries of the Global South, most of them are decolonised countries. Most of them are developing countries,” he explained. He termed it as “an intuitive gathering of countries who actually know why they are in that room and they have a feel for each other,” he said.

The foreign minister is currently on the third and final leg of his three-nation tour. He started off in Saudi Arabia for the first India-Gulf Cooperation Council Ministerial Meeting and went on to visit Germany.

He held wide-ranging talks with his German counterpart, Annalena Baerbock, and called on German Chancellor Olaf Scholz in Berlin.
 

The world’s richest one per cent increased their fortune by $42 trillion over the past decade, which is nearly 34 times more than the entire bottom 50 per cent of the world’s population, according to a new analysis by Oxfam. The organisation released the new report ahead of the third meeting of G20 Finance Ministers and Central Bank Governors in Brazil. It said that the average net worth of the elite jumped by nearly $400,000 per person, after adjusting for inflation, compared to $335 for the bottom half of residents. 

“Inequality has reached obscene levels, and until now governments have failed to protect people and planet from its catastrophic effects,” said Oxfam International’s Head of Inequality Policy, Max Lawson. “The richest one percent of humanity continues to fill their pockets while the rest are left to scrap for crumbs,” he added. 

Oxfam’s research also found that the share of income of the top 1 per cent of earners in G20 countries has risen by 45 per cent over four decades while top tax rates on their incomes were cut by roughly a third.

“Globally, billionaires have been paying a tax rate equivalent to less than 0.5 percent of their wealth. Their fortunes has risen by an annual average of 7.1 percent over the last four decades, and an annual net wealth tax of at least 8 percent would be needed to reduce billionaires’ extreme wealth. G20 countries are home to nearly four out of five of the world’s billionaires,” the report read. 

The latest analysis comes as the advocacy group, along with several partners, is calling on G20 leaders to hike taxes on the ultra-rich. 

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As part of its G20 presidency, the Brazilian government recently also commissioned a study on raising taxes on the wealthy. It found that a 2 per cent minimum tax on global billionaires’ wealth would yield between $200 billion and $250 billion from about 3,000 taxpayers annually. 

“Momentum to increase taxes on the super-rich is undeniable, and this week is the first real litmus test for G20 governments. Do they have the political will to strike a global standard that puts the needs of the many before the greed of an elite few?” Mr Lawson said.

Notably, Oxfam regularly issues reports highlighting global inequality and pushes for changes to start evening the playing field.

BRASILIA:

Former presidents and prime ministers have sent an open letter to current leaders of the world’s 20 largest economies urging support for a global tax on billionaires, which they called a rare political opportunity.

The move comes as Brazil’s G20 presidency, which put the proposal on the table in February, seeks to build support for a declaration at the group’s finance ministers and central bank governors meeting later this month in Rio de Janeiro.

Signed by 19 Club de Madrid members, a forum of former leaders with over 100 participants, the letter praised U.S. President Joe Biden’s billionaire income tax proposal but called for joint cooperation to combat tax evasion by the wealthiest.

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“A global deal to tax the ultra-rich would be a shot in the arm for multilateralism: proving that governments can come together for the common good,” said the letter.

Among signatories from across the political spectrum were Chile’s Michelle Bachelet, Sweden’s Stefan Lofven, Spain’s Felipe Gonzalez and Jose Luis Rodriguez Zapatero, France’s Dominique de Villepin, Canada’s Kim Campbell, Australia’s Julia Gillard and South Korea’s Han Seung-soo.

Brazil’s proposal, crafted by French economist Gabriel Zucman from the independent EU Tax Observatory, calls for an annual 2% levy on fortunes exceeding $1 billion, which could raise up to $250 billion annually from about 3,000 individuals.

While the communique from the latest G7 meeting in June said the group would continue collaborating with the Brazilian G20 presidency to enhance international cooperation and bolster efforts toward progressive and equitable taxation of individuals, some nations have already raised objections.

In May, German Finance Minister Christian Lindner said his country sees new components of a global tax agenda with great skepticism, while U.S. Treasury Secretary Janet Yellen said the United States could not support negotiations involving redistributing proceeds among countries.

France, Spain, Colombia, Belgium, the African Union and South Africa, which will assume the G20 presidency next year, have already supported the initiative.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Hanoi:

India has emerged as a country which is able to contribute much more to the world with a higher level of confidence and harmonise the contradictions of the world, External Affairs Minister S Jaishankar said on Tuesday. Addressing the Indian community in Vietnam, Mr Jaishankar also highlighted India’s role on the global stage through hosting a successful G20 summit in New Delhi last month and the deep historical and cultural connect that it shares with Vietnam.

“India is today very much a country on the Moon. It is a country whose global impact will be felt more and more… It is really, today a nation with many more capabilities, which is able to contribute much more and which has a much higher level of confidence…,” he told the Indian community members.

He said the space India occupies and the reputation built by it is creating the impression in the world that there is a country, which is actually able to harmonise the contradictions of the world, bridge the divides of the world, find common ground, and get people together.

“I must say, whether it was the G20 or a lot of other forums. Today, one big difference we are making is that we are able to get the world to look at the right issues. And the right tissues of the world today are development, climate, terrorism and debt. So the rest of the world today is looking very much towards India to articulate a lot of these positions,” he added.

Noting that India and Vietnam are probably the two fastest-growing economies in Asia, he said the USD 15 billion bilateral trade volume can grow and grow very fast. “And what we have to do is to set very ambitious targets and to clear a pathway for those targets to be realised,” he said.

Addressed the Indian community in Vietnam

Highlighted

The deep historical and cultural connect that share. My Son is the best example of this civilizational connect.

India’s role in the global stage through G20 and our ability to forge consensus is being noted… pic.twitter.com/hgKgNVxfA0

— Dr. S. Jaishankar (@DrSJaishankar) October 17, 2023

“A second set of issues for every country, defence and security is very important. We have long been reliable partners of Vietnam,” Mr Jaishankar said, adding that his visit was about how the two sides can broaden their relationship and accelerate cooperation. Noting that things are very difficult in many parts of the world, he said the challenges have actually only strengthened our commitment and our resolve to do more things together.

He underlined the importance of people-to-people connections and hailed the Indian community’s role in strengthening the country’s global outreach.

“There is no question today that in many ways our relationship is a good fit, there is a lot that we can do, but at the end of the day, when we speak about cooperation, it is done by people, and you are the people,” he added.

Mr Jaishankar arrived in Vietnam on Sunday on a four-day official visit.

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New Delhi:

India will raise all issues with the Canadian speaker of the Senate during the upcoming Parliament-20 meeting of the G20 nations’ presiding officers scheduled here next week, Lok Sabha Speaker Om Birla said on Friday. The presiding officers of 25 countries and 10 deputy speakers from the G20 member nations and invitee countries are expected to attend the P20 Summit that will be held at the India International Convention and Expo Centre — Yashobhoomi — at Dwarka from October 13 to 14.

Prime Minister Narendra Modi will inaugurate the G20 Parliamentary Speakers’ Summit (P20) on October 13.

Canada will be represented at the P20 Summit by Speaker of the Senate Raymonde Gagne. India’s relations with Canada have been under severe strain after Canadian Prime Minister Justin Trudeau linked Indian agents to the killing of Khalistani terrorist Hardeep Singh Nijjar in British Columbia in June.

“We will discuss issues that have been listed for the summit. Other issues will be discussed informally,” Mr Birla said when asked whether the matter of using the Canadian Parliament to level allegations against India will be raised with the Canadian presiding officer.

More than 350 delegates are expected to attend the three-day summit that will see the participation of 50 members of Parliament, 14 general secretaries, 26 vice-presidents, the International Parliamentary Union president, and the president of the Pan-African Parliament.

“The main theme of the 9th P20 is proposed to be ‘Parliaments for One Earth, One Family, One Future’,” Mr Birla told a press conference here.

Presiding Officers of Parliaments of G20 Nations, and 10 other invited Nations and Heads of international parliamentary organisations will attend the Summit. Delegates will brainstorm on important issues like SDGs, green energy, bridging digital gap and gender equality.

— Om Birla (@ombirlakota) October 6, 2023

The P20 Summit will have four sessions on “Transformation in People’s Lives through Public Digital Platforms”, “Women-led Development”, “Accelerating SDGs” and “Sustainable Energy Transition”, he said.

“A pre-summit event, namely Parliamentary Forum on Lifestyle for Environment (LiFE), will be held on October 12 at Yashobhoomi. An exhibition titled ‘Mother of Democracy’ will also be organised to highlight India’s ancient and participative democratic traditions,” Mr Birla said.

The P20 delegates will also be taken on a tour of the new Parliament House, followed by a cultural evening and dinner hosted by the speaker. 

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Prime Minister Narendra Modi said the special session of parliament starting today “may be brief but would be big on occasion”, adding that it would be a session of “historic decisions”.

In his remarks just before the session, PM Modi highlighted the Chandrayaan moon landing and the G20 as big achievements for the nation.

“The unprecedented success of GSLV Mk III-M1 is a celebration of India’s diversity,” he said.

The G20’s unprecedented success and the consensus sent a message of a bright future for India, added the Prime Minister.

He said a special aspect of the session was that the 75-year journey of the country was beginning afresh.

“The atmosphere is filled with enthusiasm and a new self-confidence across the country. The session may be short in duration, but in terms of time, it is significant; it is a session of historic decisions,” said PM Modi.

“From a new place comes new energy, new belief; we aim to make the country a developed nation by 2047.”

Stressing that the session was important in many ways, PM Modi urged MPs to make the most of it.

“I urge all Members of Parliament to make the most of their time. Let us meet in an environment of enthusiasm and excitement. Complaining and criticism take a lot of time. There are some moments in life that fill you with enthusiasm, I see this session in that way.”

The session was short, but it was very valuable, he reasserted.

“Tomorrow is the festival of Ganesh Chaturthi. Ganesh is the remover of obstacles. There will be no obstacles in India’s development journey,” he stated.

The five-day “Amrit Kaal” session of parliament will feature discussions on the evolution of India’s parliamentary democracy. Eight bills are listed.

Washington, United States:

Prime Minister Narendra Modi continues to top global ratings among world leaders with an approval rating of 76 per cent, according to a survey by Morning Consult.

According to the US-based consultancy firm’s ‘Global Leader Approval Rating Tracker’ 76 per cent of people approve of PM Modi’s leadership, while 18 per cent disapprove of it and six per cent did not give any opinion.

Notably, this is a huge number by a far margin, as the second-best approval rating is enjoyed by Switzerland President Alain Berset (64 per cent) and Mexico President Andres Manuel Lopez Obrador (61 per cent).

In previous ratings too, Prime Minister Modi had topped the ranking.

US President Joe Biden has a 40 per cent approval, Canadian PM Justin Trudeau has 37 per cent, UK PM Rishi Sunak ratings stood at 27 per cent, and France President Emmanuel Macron stood at just 24 per cent.

India recently successfully hosted the G20 summit in the national capital, hosting over 40 global leaders and their delegations.

At the Leader’s Summit, the New Delhi Declaration was adopted unanimously with full consensus. A major standout of the declaration was bringing all global powers on the same page and forging consensus on an issue as divisive as the Russia-Ukraine war.

At the conclusion of the summit, PM Modi handed over the gavel to Brazilian President Lula da Silva and also proposed to hold a virtual G20 session in November to review the suggestions and proposals made at the premier forum for international economic cooperation.

Throughout India’s presidency, raising the voice of Global South and the developing nations was at the forefront of New Delhi’s agenda. India’s theme for the G20 Presidency was also ‘One Earth One Family One Future’, whose Sanskrit translation goes as ‘Vasudhaiva Kutumbakam’.

PM Modi stated that India’s G20 Presidency has become a symbol of inclusion both inside and outside the country, adding that it has become “People’s G20” in India and crores of citizens are connected with it.

A major and historic takeaway of India’s presidency of the G20 Summit has been the inclusion of the African Union as a permanent member of the Group of 20 (G20).

 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)