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“G20 Declaration Shows India’s Great Ability To Be Champion Of Multilateralism”: Amitabh Kant

Mr Kant said the green development pact, which is a key part of the declaration, presents a great opportunity for the Indian automotive and components sector to become the global leader in electric and sustainable mobility.

The G20 Sherpa termed the New Delhi Declaration “very inclusive and very ambitious”.

New Delhi: The New Delhi G20 declaration adopted by leaders has demonstrated India’s great ability to be a champion of multilateralism and bring the world together on global developmental issues and conflicts like the Russia-Ukraine crisis, India’s G20 Sherpa Amitabh Kant said on Wednesday.
The green development pact, a key part of the declaration, offers a great opportunity for the Indian automotive and components sector to become the global leader in electric and sustainable mobility, he said asking the industry to go all-electric while speaking here at the annual convention of Automotive Component Manufacturers Association of India (ACMA).

“The New Delhi leaders’ declaration that has come out is very, very inclusive, very ambitious. It has 83 paras in all. This is the first time that all 83 paras have 100 per cent consensus,” Mr Kant asserted.

In the declaration, there is no ‘reservation, brackets and chair’s summary’, he said adding all the 83 paras, including the eight paras on the Russia-Ukraine crisis, have been done by consensus, he added.

“This has demonstrated India’s great ability, firstly, to be a champion of multilateralism, and its great ability to bring developing countries, all emerging markets, the developed world, all the G7, Russia, China all together and bring consensus on all developmental issues, as well as on issues of global conflict, which is the Russia-Ukraine crisis,” Mr Kant noted.

The declaration has a huge focus on climate action, climate finance, and at the heart of it is a green development pact, which has a major implication for the automobile sector, he added.

“I’ve just negotiated the G20 document and let me tell you, the green development pact has a huge component, the entire negotiation was about cutting down emissions by 43 per cent by 2030…and there will be increasing pressure from all over the world on India and other Middle East countries to cut down emissions,” Mr Kant noted.

Source: https://www.ndtv.com/india-news/g20-declaration-shows-indias-great-ability-to-be-champion-of-multilateralism-amitabh-kant-4385239

Morocco earthquake: Race against time to reach survivors as number killed nears 2,900

The United Nations estimates some 300,000 people were affected by Friday night’s magnitude 6.8 quake, with most of the destruction and deaths in the High Atlas Mountains, where homes folded in on themselves and left residents trapped underneath the ruins.

Rescuers are battling to reach remote mountain towns devastated by the earthquake in Morocco, as the number of confirmed deaths from the disaster neared 2,900.

Search teams from the UK, Spain, Qatar and the United Arab Emirates were joining efforts to help find people buried under debris.

The United Nations estimates some 300,000 people were affected by Friday night’s magnitude 6.8 quake, which was made more dangerous by its relatively shallow depth.

Most of the destruction and deaths were in Al Haouz province in the High Atlas Mountains, where homes folded in on themselves and left residents trapped underneath the ruins.

Much of the quake zone is in hard-to-reach areas and roads have been blocked by rocks, making it hard for rescuers to access the worst-hit locations.

Authorities have not yet issued any estimates for the number of people missing.

The UK has sent a 60-person search team with four dogs, medical staff, listening devices and concrete-cutting gear.

The European Union said it was releasing an initial €1m (£858,000) to non-governmental aid organisations in Morocco.

A search worker stands among rubble in Talat N’yaaqoub, Morocco

Survivors spend three nights sleeping outside

Aftershocks have hit the quake zone, leading those left homeless to spend three nights sleeping on the streets of Marrakech or under makeshift canopies in devastated towns.

Survivors struggling to find shelter and supplies have criticised the government’s response, accusing it of being slow.

The army said it was reinforcing search-and-rescue teams, providing drinking water and distributing food, tents and blankets.

G20 Summit: ‘I’m the perfect example of Made in India,’ says World Bank chief Ajay Banga

‘Grew up in India, studied in Indian institutes, haven’t done a single course abroad. 50% of success in life is luck. The rest is your hard work and the ability to capitalise on opportunity,’ says Banga

The World Bank Chief also expressed his dissatisfaction with the Washington-dominated world’

Ajay Banga, the current president of World Bank, told India Today that he’s “the perfect example of Made in India”.

In an interview with India Today News Director, Rahul Kanwal, Banga said that he grew up in India, studied in Indian institutes and hasn’t done a single course abroad.

“Fifty per cent of success in life is luck, the rest is your hard work and the ability to capitalise on opportunity,” he added.

Reforming Multilateral Development Banks (MDBs) has been one of the key agenda points of India’s G20 Presidency and Banga is the man entrusted by US President Joe Biden to adapt the World Bank to be able to deal with China’s growing challenge to the old Washington-led global financial order.

During the conversation, the World Bank Chief also expressed his dissatisfaction with the “Washington-dominated world”.

“Fifty-five per cent of World Bank employees are outside of the US,” Banga said.

Speaking on his mission to reform the World Bank, Banga told India Today, “In the past three months, I’ve met several leaders and finance ministers from scores of countries, which gave me a clear perspective.”

“The roadmap for the evolution of the World Bank is to get a new vision and mission and to make it inclusive,” Banga said.

Clarity of vision, simplicity of speaking, management and measurement of what you want to achieve, and simple scorecards are all important steps that need to be taken for a successful transition, Banga said on the steps needed for the transition, in terms of what still needs to be achieved.

On geopolitics and China, Banga said, “The challenges of the world are very plentiful and the kind of financial energy required is much more than how much just one institution should want to dominate on,” he said.

“Yes, there is geopolitics and I do not deny it, but China is a shareholder and it does not take much money from us any longer,” the World Bank chief said, adding, “There’s a lot for the World Bank to work on (in climate change and healthcare), which can keep us occupied for the years to come.”

“I met US President Joe Biden and he was very clear about the leveragability of the resources of the bank. The US contribution enhances our earning capacity,” Banga said about Washington arranging more funds for the World Bank.

Source: https://www.businesstoday.in/g20-summit/story/g20-summit-im-the-perfect-example-of-made-in-india-says-world-bank-chief-ajay-banga-397789-2023-09-10