India wants G20 focus on climate finance, startups | India News – Times of India


NEW DELHI: The government is seeking to bring climate finance, disaster risk reduction and startups to the forefront of the G20 agenda as India begins its presidency of the group of the world’s richest countries on Thursday, aiming to showcase its achievements and offer solutions around digital payments and e-services to position them as digital public goods.
Disaster risk management and startups have made their way into the agenda for the first time, according to the details accessed by TOI.
The government is keen to ensure global dialogue on building disaster and climate-resilient infrastructure. It also wants to ensure global dialogue on an early warning mechanism for certain types of disasters that affect lives in coastal areas.
Given the need to push the climate agenda, the Modi administration will also seek that issues around financing, an areas where the developed countries have not kept their word, and a thrust to circular economy are addressed.
Given the geo-political tensions at a time when the global economy is just recovering from the pandemic, India will also try to get countries that account for nearly 85% of global GDP to address issues around spillover effects of rate hikes in advanced economies on the emerging markets. Besides, the finance ministry is keen to get G20 members to work on creating a set of rules to deal with crypto currency.
Sources said India will also seek to build consensus on issues around debt sustainability and reform of the multilateral systems to reflect the new realities.
“India’s G20 presidency comes at an opportune time, not just for India but also the world. With the world already amidst a climate crisis, the Covid crisis, subsequent disruptions in global supply chains and debt crises, geopolitical crisis, and ensuing food and energy crises have thrown economies in turmoil, especially developing ones.
“The G20 forum is an effective platform to drive change at a global level. This will be crucial for the world to navigate its way through the manifold crises of today. It is a time for collective action, and there is no country placed better than India to drive consensus and action. This is an opportunity for India to position itself as the voice of the Global South, acting as a bridge between developing and developed nations.
“The G20 presidency will reaffirm global trust in India as a responsible power, with inclusivity and action at the heart of its G20 agenda, making it a catalyst for global change,” India’s Sherpa Amitabh Kant told TOI.





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