Daily Newscap

 The Saudi Crown Prince arrived in Delhi for a three-day tour which began with the G20 Summit in the national capital. New Delhi: Trade, economy, defence, and cultural cooperation were the main topics of discussion between Prime Minister Narendra Modi and Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud during the latter's State visit today. During the high-profile meeting today at Delhi's Hyderabad House, the two leaders co-chaired the first leaders' meeting of the Strategic Partnership Council, a bilateral agreement between India and Saudi Arabia signed by the two nations in Riyadh in 2019. "For India, Saudi Arabia counts as one of its closest and biggest strategic partners," PM Modi said. "India-Saudi Arabia partnership crucial for stability, welfare of region and world." "We are adding a new dimension to our ties in tune with changing times. We have identified several initiatives to take our close partnership to the next level," ...

Overcoming hurdles related to trade and China’s sway in Africa are challenges yet to be faced. It’s over, bar the shouting. The headline for India’s G20 presidency will undoubtedly be a consensus forged among fractious global leaders. This was in addition to successfully aligning the summit agenda with the Global South’s interests, which included, among other things, re-focusing attention on the indebtedness that has afflicted poor and developing nations after the pandemic. The Indian presidency’s extraordinary achievements will now have to be followed up with equally exceptional steps to dispel doubts that G20 commitments rarely translate into action. The Indian presidency’s crowning moment was the unexpected but unanimous acceptance of a Leaders’ Declaration, that too a day in advance. This was achieved with sophisticated, deft deployment of words that speak but do not tell. The Leopard-2 tank in the room—the Russia-Ukraine war—threatened to derail consensus; however, the wording of ...

The global order has undergone dramatic changes since the Second World War due to economic growth and prosperity, decolonization, demographic dividends, technological achievements, emergence of new economic powers and deeper international cooperation. The United Nations must be responsive to the entire membership, faithful to its founding purposes and principles of its Charter and adapted to carrying out its mandate.  In this context, we recall the Declaration on the Commemoration of the 75th anniversary of the United Nations (UNGA 75/1) which reaffirmed that our challenges are inter-connected and can only be addressed through reinvigorated multilateralism, reforms and international cooperation.  The need for revitalized multilateralism to adequately address contemporary global challenges of the 21st Century, and to make global governance more representative, effective, transparent and accountable, has been voiced at multiple fora. In this context, a more inclusive and reinvig...

  We emphasise the need for enhanced mobilisation of finances and efficient use of existing resources in our efforts to make the cities of tomorrow inclusive, resilient, and sustainable. To this effect, we endorse the G20 Principles for Financing Cities of Tomorrow, which are voluntary and non-binding in nature and the G20/OECD Report on Financing Cities of Tomorrow, which provides a financing strategy as well as presents a compendium of innovative urban planning and financing models. We encourage stakeholders, including the Development Financial Institutions and the MDBs, to explore the potential of drawing upon these principles in their planning and financing of urban infrastructure wherever applicable and share experiences from early pilot cases. We note the progress in outlining the enablers of inclusive cities. We also note the customisable G20/ADB Framework on Capacity Building of Urban Administration to guide local governments in assessing and enhancing their overall institu...

  We commit to conserving, protecting, restoring and sustainably using the world’s ocean, marine ecosystems, and look forward to make progress and in this regard, contribute to the 2025 UN Ocean Conference. To this end, we: i. Welcome the Chennai High-Level Principles for a Sustainable and Resilient Blue/Ocean-based Economy. ii. Note the adoption of the new international legally binding instrument under the UN Convention on the Law of the Sea (UNCLOS) on the conservation and sustainable use of marine Biological diversity of areas Beyond National Jurisdiction (BBNJ) and call on all countries for its early entry into force and implementation. iii. Support the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR), within the Antarctic Treaty system, to establish a representative system of Marine Protected Areas (MPAs) in the CCAMLR Convention area based on the best available scientific evidence. iv. Reiterate our commitment to ending illegal, unreported, and un...

  We welcome the Sustainable Finance Working Group (SFWG) recommendations on the mechanisms to support the timely and adequate mobilisation of resources for climate finance while ensuring support for transition activities in line with country circumstances. We also recognise the significant role of public finance as an important enabler of climate actions, such as leveraging much-needed private finance through blended financial instruments, mechanisms and risk-sharing facilities to address both adaptation and mitigation efforts in a balanced manner for reaching ambitious Nationally Determined Contributions (NDCs), carbon neutrality and net-zero considering different national circumstances. We welcome the SFWG recommendations for scaling up blended finance and risk-sharing facilities, including the enhanced role of MDBs in mobilizing climate finance. We underscore the importance of maximizing the effect of concessional resources, such as those of the multilateral climate funds, to s...

 G20 Summit: The announcement is significant as the deliberations on the Delhi declaration were clouded by the different positions on Russia-Ukraine war. G20 Summit: PM Modi announced on Saturday that the leaders of G20 countries have reached a consensus on New Delhi G20 Leaders Declaration. The announcement is significant as the deliberations on the Delhi declaration were clouded by the different positions on Russia-Ukraine war. Here's the full text of the New Delhi G20 Leaders Declaration: Preamble 1. We are One Earth, One Family, and we share One Future. 2. We, the Leaders of the G20, met in New Delhi on 9-10 September 2023, under the theme ‘Vasudhaiva Kutumbakam’. We meet at a defining moment in history where the decisions we make now will determine  the future of  our people and our planet. It is with the philosophy of living in harmony with our surrounding ecosystem that we commit to concrete actions to address global challenges. 3. G20 cooperation is essential in d...