G-20 Finance Ministers and Central Bank Governors (FMCBG) Meeting

[Hindustani78]

12-October, 2018 11:28 IST

Republic of India emphasis on the need for G-20 Nations to take co-ordinated action to ensure that the negative spillover effects of global risks on Emerging Market Economies (EMDEs) are minimized;. Republic of India gives unequivocal support for New Development Bank (NDB)’s Membership expansion and need for setting-up of an Independent BRICS Rating Agency-


The Final G-20 Finance Ministers and Central Bank Governors Meeting under the 2018 Argentine Presidency and the final BRICS Deputies Meeting under the 2018 South African Chairmanship were held on 11th -12th October 2018 in Bali, Indonesia on the sidelines of the IMF/Fund Bank Annual Meetings.

G-20 Finance Ministers and Central Bank Governors (FMCBG) Meeting

The deliberations in the G-20 FMCBG meeting centered on key risks facing the global economy, enhancing a resilient international financial architecture, financing infrastructure development, progress on compact with Africa as well as streamlining of the GPFI process.

Secretary, Department of Economic Affairs (DEA), Ministry of Finance, Government of India, Shri Subhash Chandra Garg in his interventions indicated that the risks related to trade tensions, financial vulnerabilities and oil prices have materialized and are having major impact on the Emerging Market Economies. Secretary (EA) emphasized on the need for G-20 nations to take co-ordinated action so as to ensure that the negative spillover effects of global risks on EMDEs are minimized. Secretary (EA) also appreciated the progress of work under the Argentine Presidency on developing infrastructure as an asset class. He indicated the importance of developing global standards and protocols for attracting private funds to the infrastructure space and hoped that the infrastructure agenda of G-20 can contribute in this direction. Secretary (EA) also highlighted the efforts undertaken by India to attract private players in infra financing space such as creating Real Estate Investment Trust Fund, Infrastructure Debt Fund as well as undertaking efforts for monetizing brownfield assets. On Compact with Africa, Secretary (EA) indicated the importance that Government of India (GoI) has placed on undertaking investments in Africa and highlighted the USD10 billion soft loan facility announced for Africa by the Prime Minister of India, Shri Narendra Modi. He further highlighted the investment facilitating schemes that GoI has in place to encourage private players to invest in Africa and elsewhere such as National Export Insurance Fund, Concessional Financing Facility etc.

BRICS Finance Deputies

The meeting focused on reviewing the progress achieved by the BRICS Forum in 2018 as well as deliberating on the way forward under the upcoming 2019 BRICS Chairmanship of Brazil. On the Finance Ministry track, the main issues that came-up for discussion were the membership expansion of New Development Bank (NDB), the staggering of schedule of payment of paid-in capital of NDB, the work of BRICS PPP Task Force and examining the possibility of developing a consensus on BRICS Rating Agency. On the Central Bank track, the discussions centered on the test run of the BRICS Contingent Reserve Arrangement undertaken by the Central Banks in 2018, the Fintech stocktaking exercise and the progress of work happening in the BRICS Bond Fund Working Group.

Secretary (EA) in his interventions indicated India’s unequivocal support for NDB’s membership expansion. Further, he called upon the BRICS Deputies to endorse the membership expansion plan of NDB following which the NDB Board along with the Management can continue with their work on finalizing the processes for membership expansion. Secretary (EA) also emphasized that the role of BRICS is to provide broad guidance to NDB and the decisions on managing the micro details should be left to NDB Board of Directors and Board of Governors. On the BRICS Rating Agency, Secretary (EA) indicated that the Report of the Expert Group set-up to study the feasibility of BRICS Rating Agency has envisaged the setting-up of a BRICS Rating Agency which is completely independent and private sector led. Secretary (EA) emphasized on the need felt by the emerging markets and developing economies for a rating methodology that takes into account the country circumstances of these economies. In this context, there was a need for BRICS to take lead and work together on the setting-up of a BRICS Rating Agency.

Other Meetings

Other than the G20 and BRICS Meeting, Secretary (EA) also participated in the G24 Ministerial Meeting which was its 100th Meeting. Further, Secretary (EA) also had bilateral meetings with the G-20 Italian Finance Deputy, Mr. Alessandro Riviera, the Under Secretary of US Treasury, Mr. David Melpass as well as Mr. Marco Buti, Director-General of European Commission among others.

 

[Hindustani78]

New Delhi, October 11, 2018 21:47 IST
Updated: October 11, 2018 21:47 IST
The draft report of the Estimates Committee on “measuring growth, employment and income” asks the government on how it can address the critical issue of unemployment if it does not have “real time” and “holistic” data.

A report by a parliamentary panel, questioning the reliability of employment data collected by the government, has been stalled following protests by other members.

As per sources, the draft report of the Estimates Committee on “measuring growth, employment and income” asks the government on how it can address the critical issue of unemployment if it does not have “real time” and “holistic” data.

It points out that the latest National Sample Survey Office (NSSO) survey on employment was carried on in 2011. The Labour Bureau started carrying out quarterly employment survey only since April 2016. And that too covers non-farm eight major sectors and it does not reflect the work force engaged in establishments having less than 10 workers which constitute 98% of the establishments, the report notes. The report also criticises the sample size of the NSSO survey which had only 600 sample villages. The report has criticised the approach as “casual and shoddy”.

Noting these constraints, the draft report said: “With the aforesaid scenario whereby up-to-date realistic position about the employment at a particular time on various important parameters is not available, the committee fails to understand how the critical issue of unemployment in the country can be addressed.”

In Thursday’s meeting, the members led by Jharkhand MP and Delhi MP first protested, claiming that they had not got adequate time to read the report. To this, Estimates Committee countered saying that the report was circulated on October 3 and each member was given multiple reminders to read it.

Jharkhand MP, according to sources, said that evidence of the Statistics and Programme Implementation has not been adequately recorded. Estimates Committee, according to sources, snapped at Jharkhand MP, asking him to read the report closely before making such charges.

It is learnt that a few members pressed for a dissent note, to which Estimates Committee did not agree as it is against the norm of the Estimates Committee. Estimates Committee said that all reports have to be passed through consensus.

This is the third report of a standing committee to be held due to protest for members. Standing Committee on Finance headed by the leader is yet to bring out its report on demonetisation even after working on it for last two years. The External Affairs committee Chairman and leader had to get the panel’s report on Doklam vetted by Union Minister before getting it past the protesting members.

 

[Hindustani78]

https://www.thehindu.com/news/inter...policies-us/article25212452.ece?homepage=true

Dennis Shea (right) U.S. Ambassador to the WTO talks with Xiangchen Zhang, Chinese Ambassador to the WTO before the General Council meeting at the World Trade Organization (WTO) in Geneva, Switzerland, July 26, 2018. | Photo Credit: Reuters


“If you look at who some of these countries are, though, it’s pretty amazing that they’re claiming to be developing countries at the WTO,” he said.

China’s economic system is not compatible with the norms of the WTO, the Trump administration has said, asserting that the international trade body is not equipped to deal with Beijing and its industrial policies.

The Trump administration is also seeking to redefine the term ‘developing nations’ as countries like China, despite being the world’s second largest economy, are being considered as developing, that gives them certain benefits under the World Trade Organization (WTO).

“Too many countries at the WTO self-designate as developing countries. And as a developing country at the WTO, you enjoy additional flexibilities and exemptions from the rules,” Dennis Shea, Deputy US Trade Representative and US Ambassador to the WTO, told a Washington audience on Friday.

“If you look at who some of these countries are, though, it’s pretty amazing that they’re claiming to be developing countries at the WTO,” he said.

For example, 10 of the G-20 members claim developing country status at the WTO.

China, which is the second largest economy in the world, claims developing country status at the WTO, Mr. Shea said.

Five of the six countries with the largest GDP per capita claim developing country status at the WTO, he said during his appearance before the Center for Strategic and International Studies (CSIS), a top American think-tank.

U.S. Trade Representative Bob Lighthizer, Mr. Shea said, raised that issue at the ministerial conference in Buenos Aries in December and has a real conversation going on at the WTO about whether there should be more differentiation among developing countries.

In July, he said, the U.S. offered a paper on China’s economic model and the point of the paper was the economic model is essentially inconstant with the WTO norms.

“And I had a big back-and-forth with my Chinese counterpart. In fact, people said it was the most exciting time they’ve ever seen at a General Council meeting at the WTO. And my reaction was, ‘Well, if this is the most exciting time this place must be pretty boring’,” Mr. Shea said.

Indicating tightening of the U.S. approach against China, Mr. Shea said that the middle-of-the-road approach on some of the issues, particularly around China, is no longer viable.

“We really need to recognise that the economic system of China is not compatible with the WTO norms,” he said, asserting that other countries need to speak up on this.

The WTO, as currently constituted, is not equipped to handle the China issue.

“One of my jobs is to help educate the membership about the ramifications of China’s non-market economy, not just for the U.S., but for the WTO membership at large,” Mr. Shea said.

That is the reason why, he observed, the U.S. submitted that paper on the Chinese economic model at the last general council meeting in July.

The U.S., Japan and the EU are now engaged in the trilateral process, in which they are looking at ways to share information.

“They’re looking at a number of areas. One on industrial subsidies and state-owned enterprises; another on the issue of forced technology transfer; and, the third issue on, you know, defining: what are the elements of a market economy? Can we have a common understanding of what a market economy is?” the top U.S. trade official said.

“Part of this effort involves development of new rules. So the US and the EU and the Japan are engaged in discussions, at a technical staff level, about the development of new rules around industrial subsidies and SOEs -- that’s the furthest along -- and potentially new rules around forced technology transfer,” Mr. Shea said.

Responding to a question, Mr. Shea said that in China, there is no independent judiciary, which can resolve disputes among stakeholders in China in impartial manner.

“Should China be kicked out of the WTO if the U.S. loses?” he was asked. “You know, yes,” he answered.

“We are committed to the trilateral process. We’re working, hopefully we’ll develop a common understanding what new rules would look like with the EU and Japan, and then branch out from there.

“We are probably a little more skeptical about the viability of rules to actually significantly modify Chinese behaviour. But that does not mean we should not pursue this approach, which we are pursuing,” he added.

 

[Hindustani78]

Ministry of Finance
13-October, 2018 12:00 IST
Shri Subhash Chandra Garg, Secretary, DEA: Better Metric is needed for the Human Capital Index (HCI) to measure the Status of Human Capital;

Structural Reforms in areas like taxation and bankruptcy are helping the Indian economy in building its resilience to global shocks and maintain a robust growth rate despite challenges;

Prudent policy measures have helped, and measures being undertaken now will also help contain the stress currently seen in financial condition tightening, and oil prices etc.

Shri Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA), Ministry of Finance emphasized the need to recognize that digital technological changes taking place are more fundamental than even invention of the steam engine, which had laid the foundation of the industrial revolution. There is a digital revolution which is transforming the world. Shri Garg was speaking at the IMF’s Development Committee Lunch Session in Bali yesterday. The Session focused on the World Development Report, which is on the changing nature of work. Speaking about the Human Capital Index (HCI) that was released recently as part of the Human Capital Project of the World Bank, Shri Garg commented that Human Capital needs to continuously evolve and develop. HCI uses metric of industrial era to measure the status of human capital for digital age and its production system. He said that a better metric is needed.

Earlier, Shri Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA) led the Indian delegation to the Annual Meetings Plenary Session of the International Monetary Fund (IMF) and the World Bank yesterday in Bali, Indonesia.

In the IMFC Introductory Session, Shri Garg, Secretary, DEA highlighted the key factors like structural reforms in areas like taxation and bankruptcy are helping the Indian economy in building its resilience to global shocks and maintain a robust growth rate despite challenges. Shri Garg emphasised that Prudent Policy measures have helped, and measures being undertaken now, will also help contain the stress currently seen in financial condition tightening, and oil prices etc.

Of the Four Sessions of the 38thInternational Monetary and Financial Committee (IMFC) Meeting of the IMF being held during the Annual Meetings, the first two sessions – Introductory Session and the Restricted Session on Early Warning Exercise (EWE) – were held yesterday. Secretary Shri Garg attended both these Sessions. The IMFC Introductory Session was focused on Global Developments and Prospects, while the EWE was focused on Upcoming Risks to the Global Economy.

Earlier in the day, Secretary Shri Garg also led the Indian delegation in the G-20 FMCBG Meeting in which the deliberations centred on key risks facing the global economy, enhancing a resilient international financial architecture, financing infrastructure development, progress on compact with Africa as well as streamlining of the GPFI process among others.

Secretary, DEA, Shri Garg is currently on an official tour to Bali, Indonesia to participate in the Annual Meetings of the IMF and the World Bank and other associated Sidelines Meetings. He is accompanied by the senior officials of the Ministry of Finance among others.


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[Hindustani78]

Prime Minister's Office
15-October, 2018 15:27 IST
PM's meeting with Global Oil and Gas Experts/CEOs

To reduce energy cost, a strong case for partnership between producers and consumers in the oil market.


CEOs and Experts from the Oil and Gas sector, from both India and abroad.

The gathering included Ministers from Saudi Arabia and UAE, and CEOs and experts from organisations including Saudi ARAMCO, ADNOC, BP, Rosneft, IHS Markit, Pioneer Natural Resources Company, Emerson Electric Company, Tellurian, Mubadala Investment Company, Schlumberger Ltd., Wood Mackenzie, World Bank, International Energy Agency (IEA), NIPFP, Brookings India and various Indian companies involved in both upstream and downstream operations.

Union Ministers Shri Arun Jaitley and Shri Dharmendra Pradhan; Vice-Chairman NITI Aayog Dr. Rajiv Kumar and senior officials from the Union Government and NITI Aayog were also present at the interaction.

During the interaction global CEOs and Experts appreciated the steps taken by the Union Government over the last four years, for ease of doing business, and specifically in the energy sector in India. The experts made a special mention of India’s competitive ranking from the upstream investment point of view which has gone up from 56 to 44. Subjects such as expansion of oil and gas infrastructure in India; enhancing exploration and production; potential in solar energy and biofuels; and the Union Government’s holistic approach to the energy sector came up for discussion. The experts appreciated the unique initiative of this kind of a dialogue, which brings various stakeholders together on policy matters.

Interacting with the global leaders of the energy sector, Prime Minister highlighted the significant positioning of India in the oil and gas market. He noted that the oil market is producer driven; and both the quantity and prices are determined by the oil producing countries. Though there is enough production, the unique features of marketing in the oil sector have pushed up the oil prices. Prime Minister Modi made a strong case for a partnership between the producers and consumers, in the oil market, as it exists in other markets. This will help stabilise the global economy which is on path of recovery.

Mr. Modi drew attention of the experts on certain key policy issues relevant to India. Firstly, he highlighted that the consuming countries, due to rising crude oil prices, face many other economic challenges including serious resource crunch. The cooperation of the oil producing countries would be very critical to bridge this gap. He appealed to oil producing countries to channel their investible surplus to pursue commercial exploitation in oil sector in the developing countries. Secondly, he spoke of higher acreage under exploration and sought cooperation of the developed countries both in terms of technology and extension of coverage. Thirdly, he sought the role of private participation in the distribution of gas sector. Talking of technology, he appealed for assistance in areas where high pressure and high temperature technology applications are relevant to commercial exploitation of natural gas. Lastly and importantly, he requested for review of payment terms so as to provide temporary relief to the local currency.

Prime Minister also spoke about the various policy initiatives and developmental measures undertaken by his Government in the sector. He highlighted the liberalisation in gas pricing and marketing which has been particularly in deep waters and requiring technology for high pressure high temperature exploitation. He made a mention of open acreage licensing policy, early monetisation of coal bed methane, incentives for discovery of small fields and seismic survey at a national level. Talking of ongoing commercial exploitation, he made a special mention of extension of production sharing contracts.

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[Hindustani78]

Ministry of Petroleum & Natural Gas
15-October, 2018 16:48 IST
Shri Dharmendra Pradhan says India has to continuously engage with the global energy community to steer its own course of a new energy future

Union Minister of Petroleum and Natural Gas & Skill Development and Entrepreneurship Shri Dharmendra Pradhan has said that Energy is a global industry and oil is truly a global commodity, and hence our engagement with the global energy community has to be continuous. Speaking at CERA Week conference here today, he said that India cannot work in isolation, as from a global perspective, global market shifts, technological disruptions, financial markets & paper trading, and possible disruption in the form of energy transition are shaping the future of energy security. He said that any action on energy must take into account the global consensus achieved by the United Nations 2030 Agenda for Sustainable Development, the “Paris Agreement” of 2015 and decisions of the G20 Leaders’ meeting in Hamburg in 2017 that regard energy security as one of the guiding principles for energy transition. He appreciated the efforts of IHS team for bringing the flagship event out of Houston and making India its home away from home for the second time.


Shri Pradhan said that India has taken a lead in International Solar Alliance (ISA) with 60 solar-rich countries. Two weeks back as part of the International Solar Alliance gathering in New Delhi, Hon’ble Prime Minister Shri Narendra Modi mentioned that ISA can potentially replace OPEC as the key block of supplier of energy in the world. With the falling prices of solar, we can easily achieve his idea of “One World, One Sun, One Grid”. He said that We are trying to accomplish Hon’ble PM’s vision of the energy sector – of ensuring energy access, energy security, energy affordability and energy sustainability. As the third largest consumer of energy and one of the fastest growing – in a volatile global environment, we cannot just rely on one source of energy. As Hon’ble Prime Minister had mentioned last year, like horses in Sun God’s chariot, India will harness all sources of available energy -solar, wind, hydro, coal, oil, gas, nuclear, bio-fuels etc.

Mentioning about the recent progress made on the reforms and implementation of initiatives, Shri Pradhan said that in our efforts towards providing universal access of clean cooking fuel to residences, we have the Prime Minister Ujjwala Scheme, under which we had kept a target of reaching 50 million households in 3 years’ time. We achieved that milestone ahead of schedule and increased the target to 80 million. He said that besides moving to a cleaner fuel, Ujjwala has had a major impact on the health of rural women and children. It has empowered poor women also by addressing the issue of “time poverty” and encouraged them to invest in their human capital. Through innovative delivery models, use of technology, and a policy of directed subsidy – we have been able to expand the consumer market for energy.

The Minister said that the upstream licensing round under Discovered Small Field and the Open Acreage Licensing Policy has been successfully completed. OLAP under HELP is now a continuous process backed by a transparent data repository. Cabinet has also approved the policy to incentivize enhanced oil recovery which will further help boost upstream activity in India. He said that in a big boost to the City Gas Distribution (CGD) network expansion, in the 9th round of bidding, 86 licenses have been offered and bid out. 50% of country’s population will soon have access to local gas network, which will boost our efforts toward providing clean air in our cities and towns. India has leapfrogged from the use of BS IV to the launch of BS VI grade fuel. Even though the original target for BS VI roll-out was 2024, we advanced that to 2020 and have now rolled it out in the NCT in 2018 itself.


Shri Pradhan said that we also have been giving a big push towards harnessing bio fuel with the launch of National Bio Fuel Policy of 2018. This will also contribute to PM’s commitment of doubling the farmer’s income by 2022. He mentioned about the test flight being flown from Dehradun to New Delhi with a blend of 25% bio jet fuel & 75% ATF in August this year. A scheme to promote compressed bio-gas in a big way has been launched. Expansion of the gas grid continues in the East, North-East and Southern parts of the country and several LNG regasification terminals are coming up. In the last 2 years, national oil companies have made significant acquisitions in some of the world-class producing blocks in Russia, the UAE and Oman. He said furthering the agenda for energy security, our cabinet has recently approved the second phase of building strategic oil reserves in Odisha and Karnataka. This will be done in a public-private partnership mode.


Shri Pradhan said that in past one year, severe head winds have been faced by way of rising oil prices. Since the last CERA week in New Delhi, crude prices have gone up 50% in US Dollar terms and 70% in Indian Rupee terms. Much of it is to do with geo-political events imposed on the world. He solicited the suggestions towards further improving the investment climate in the oil and gas sector. He said our industry and research institutes need to come together to develop technology for CO2 Capture, Hydrogen Fuel cells, Gas Hydrates, Hydrogen-Injected CNG, Coal to gas etc. He expressed the hope that the conference on “India’s Energy Transition: Evolution or Revolution?” to have stimulating and productive deliberations, which will help India drawing from the rich international expertise and experience.



YB

 

[Hindustani78]

Ministry of Commerce & Industry
19-November, 2018 17:04 IST
Reforms needed in WTO to Support A Better Global Trade order: Suresh Prabhu

Suresh Prabhu delivering keynote address on strategic alliance for WTO and trade remedies


The Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, said that India will work along with other member countries to reform the World Trade Organization (WTO) to ensure that it remains an engine for global trade. Speaking at a conference on Strategic Alliance for WTO and Trade Remedies in New Delhi today, he said that the multilateral trading system is under stress and number of fresh trade restrictive measures have surged which will affect global trade and economic growth.

• Suresh Prabhu said that without WTO, trade, economy will not expand as it is the only organization dealing with global rules of trade between nations. The WTO acts as an essential pillar of global trade governance providing the framework of rules and practices that underpin some 98% of global trade today and is expected to provide rule based system as well as stability and predictability in world trade.

Suresh Prabhu informed that India is not for or against any country but desire to make WTO a forward looking organization, which is able to support a better global trade order.He said that during the last few months he has discussed substantive issues with over 100 Ministers of Trade and Commerce of various countries to evolve new reform agenda for WTO which will be acceptable to most the countries.

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MM/ SB

Ministry of Commerce & Industry
19-November, 2018 15:37 IST
Commerce Minister Releases Report on Industrial Park Rating System

Suresh Prabhureleasing the report on Industrial Park Rating System

The Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu, released the report prepared by the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, on Industrial Park Rating System. Speaking on this occasion, Commerce Minister said that manufacturing has emerged as one of the high growth sectors in India and it has moved 23 places up in the World Bank’s Ease of Doing Business (EODB-2019) and achieved rank 77 out of 190 countries. In order to ensure that India moves into the top 50 countries in Ease of Doing Business the Ministry has undertaken this exercise in studying infrastructure across states and in 3354 industrial clusters in order to assess quality of infrastructure in industrial parks.

Suresh Prabhu stated that this will be a useful tool for policy makers and investors at the click of a button. 3000 parks are on the database and the industrial parks have been rated on 4 points: internal infrastructure, external infrastructure, business services and facilities and environment, safety management.

To optimise resource utilisation and enhance the efficiency of the manufacturing sector, DIPP launched the Industrial Information System (IIS), a GIS-enabled database of industrial areas and clusters across the country in May 2017. The portal serves as a one-stop solution to the free and easy accessibility of all industrial information including availability of raw material – agriculture, horticulture, minerals, natural resources, distance from key logistic nodes, layers of terrain and urban infrastructure.

Over the last one year, State Governments and Industrial Development Corporations have actively used the portal and nominated over 200 parks for their assessment along the above parameters.

IPRS is proposed to be translated into an annual exercise covering all the parks across India. Coverage would be widened and updated to bring in deeper qualitative assessment feedback, bring in technological intervention and develop it as a tool that helps effectively for demand driven and need based interventions both by policy makers and investors.

On this occasion Secretary DIPP, Ramesh Abhishek, Country Director of Asian Development Bank, Kenichi Yokoyama and other senior officials were present.



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MM/ SB

 

[Hindustani78]

The Prime Minister, Shri Narendra Modi meeting the President of Argentina, Mr. Mauricio Macri, during the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of Argentina, Mr. Mauricio Macri, during the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of Argentina, Mr. Mauricio Macri, at the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of European Commission, Mr. Jean-Claude Juncker and the President of European Council, Mr. Donald Tusk, at the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of European Commission, Mr. Jean-Claude Juncker and the President of European Council, Mr. Donald Tusk, at the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the German Chancellor, Dr. Angela Merkel, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of South Africa, Mr. Cyril Ramaphosa, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of South Africa, Mr. Cyril Ramaphosa, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the Prime Minister of the Kingdom of Netherlands, Mr. Mark Rutte, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the Prime Minister of the Kingdom of Netherlands, Mr. Mark Rutte, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the Prime Minister of Spain, Mr. Pedro Sanchez, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the Prime Minister of Spain, Mr. Pedro Sanchez, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the Prime Minister of Jamaica, Mr. Andrew Holness, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the Prime Minister of Jamaica, Mr. Andrew Holness, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of France, Mr. Emmanuel Macron, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of France, Mr. Emmanuel Macron, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi meeting the President of France, Mr. Emmanuel Macron, on the sidelines of the G20 Summit, in Buenos Aires, Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi emplanes for Delhi from Ministro Pistarini International Airport, Buenos Aires, after attending the G20 Summit, in Argentina on December 01, 2018.

The Prime Minister, Shri Narendra Modi emplanes for Delhi from Ministro Pistarini International Airport, Buenos Aires, after attending the G20 Summit, in Argentina on December 01, 2018.