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Congratulate Turkish Presidency for coordinating efforts on Growth and Investment strategies and Employment Plans: PM Modi
To stimulate growth, we need to enhance public investments, not just rely on monetary policy: PM Modi
Multilateral Development Banks should enlarge their capital base to support infrastructure needs of the developing countries: PM Modi
There is global consensus on the need to address climate change: PM
G20 efforts must be aligned with the UN SDGs, particularly with number one goal of elimination of all poverty by 2030: PM Modi
We welcome the G20 focus on youth and employment of women: PM Modi
India's economic growth is likely to grow at 7.5% this year; we have reduced inflation and current account and fiscal deficits: PM Modi
Our programmes of inclusive development, Make in India, Skill India, Digital India, etc. will boost growth & employment in India: PM

Excellencies, 

The global economic growth remains weak, with slowdown in several major economies, volatile financial markets and competitive devaluation of currencies.

I congratulate the Turkish Presidency for coordinating efforts on Growth and Investment strategies and Employment Plans. We must all now implement our commitments.

To stimulate growth, we need to enhance public investments, not just rely on monetary policy.

G20’s continued call to Central Banks for careful communication on monetary policy actions will be helpful in keeping financial and currency markets stable.

Multilateral Development Banks should enlarge their capital base to support infrastructure needs of the developing countries. New institutions such as the New Development Bank are welcome additional sources of financing.

There is global consensus on the need to address climate change. However, multilateral institutions should not impose such difficult safeguards and conditions on loans that they become barriers to development in many countries and undermine sustainable development.

G20 efforts must be aligned with the UN Sustainable Development Goals, adopted this year, particularly with the number one goal of elimination of all poverty by 2030.

We welcome the G20 focus on employment of women and, on youth this year.

Stable long term global economic growth requires not just capital flows, but also efforts to facilitate labour mobility and skill portability.

Excellencies,

India's economic growth is likely to grow at 7.5% this year and achieve a growth rate of 8% plus next year. We have reduced inflation and current account and fiscal deficits.

Our programmes of inclusive development, including Financial Inclusion, universal access to basic needs by target year, Make in India, Skill India, Digital India, Industrial Corridors and Smart Cities will boost growth and, employment in India.

This will be a source of strength for the global economy.

Thank you!

Modi Govt's #7YearsOfSeva
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Climate change must be fought not in silos but in an integrated, comprehensive and holistic way: PM
November 22, 2020
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Climate change must be fought not in silos but in an integrated, comprehensive and holistic way: PM
India has adopted low-carbon and climate-resilient development practices: PM Modi
Smoke free kitchens have been provided to over 80 million households through our Ujjwala Scheme: PM Modi

Your Majesty,

Excellencies,

Today, we are focused on saving our citizens and economies from the effects of the global pandemic . Equally important is to keep our focus on fighting climate change. Climate change must be fought not in silos but in an integrated, comprehensive and holistic way. Inspired by our traditional ethos of living in harmony with the environment, and the commitment of my Government, India has adopted low-carbon and climate-resilient development practices.

I am glad to share that India is not only meeting our Paris Agreement targets, but also exceeding them. India has taken concrete action in many areas. We have made LED lights popular. This saves 38 million tons of Carbon Dioxide emissions per year. Smoke free kitchens have been provided to over 80 million households through our Ujjwala Scheme. This is among the largest clean energy drives globally.

There are efforts to eliminate single-use plastics; Our forest cover is Expanding ; The lion and tiger population is increasing; We aim to restore 26 million hectares of degraded land by 2030; And, we are encouraging a circular economy. India is making next-generation infrastructure such as metro networks, water-ways and more. In addition to convenience and efficiency , they will also contribute to a cleaner environment. We will meet our goal of 175 Giga Watts of renewable energy well before the target of 2022. Now, we are taking a big step ahead by seeking to achieve 450 Giga Watts by 2030.

Your Majesty,

Excellencies,

The International Solar Alliance is among the fastest growing International Organisations, with 88 signatories . With plans to mobilise billions of dollars train thousands of stake-holders, and promote research and development in renewable energy, the ISA will contribute to reducing carbon foot-print. One more example is the Coalition for Disaster Resilient Infrastructure.

18 countries - including 9 from among the G20 - and 4 international organisations have already joined the Coalition . CDRI has started work on increasing resilience of critical infrastructure. Infra damage during natural disasters is a subject that has not got the attention it deserves. The poorer nations are specially impacted by this. Therefore, this Coalition is important.

Your Majesty,

Excellencies,

This is the best time for further increasing research and innovation in new and sustainable technologies. We should do so with a spirit of cooperation and collaboration. The entire world can progress faster if there is greater support of technology and finance to the developing world.

Your Majesty,

Excellencies,

For humanity to prosper, every single individual must prosper . Rather than seeing labour as a factor of production alone, the focus must be on the human dignity of every worker. Such an approach would be the best guarantee for safeguarding our planet. Thank you.