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G20 Summit Climate Corona And Corporate Tax At The Center Of Superpower Talks

Summary

The inaugural session of the Group of 20 Heads of State talks focused on global health and the economy. Along with this, some prominent leaders on the sidelines of the program also discussed the upcoming steps regarding Iran’s nuclear program.

Italian President Mario Draghi on Saturday opened the summit of the world’s most powerful countries, the G20, with a demand to increase vaccine supplies for poor countries. The large global vaccine supply gap is morally unacceptable, he said. This time Italy is the host of the two-day summit of the G20.

Draghi said, in poor countries of the world, only 3 percent of the population has received at least one dose of the vaccine, while in rich countries more than 70 percent of the population has received at least one dose. This gap is morally unacceptable and weakening the fight against the pandemic, he said. Draghi was an economist and head of the European Central Bank.

At the meeting, French President Emmanuel Macron resolved that he would use the conference to pressure fellow European leaders to generously donate vaccines to poor countries. But civil society advocates, who have been in talks with G20 officials before the start of this meeting, are viewing this approach of charity with suspicion. The World Health Organization has set a target of 40 percent immunization worldwide this year and 70 percent next year.

Expected to keep $100 billion for Africa….
Macron told reporters, it is expected that the G20 will approve an additional $100 billion to revive Africa’s economy. This money will be part of the $650 billion that can be withdrawn from the IMF’s foreign exchange tool under special withdrawal rights.

India ready to make 5 billion vaccines of Kovid by 2022: Modi
Underlining India’s role in fighting the corona pandemic at the G20 meeting on Saturday, Prime Minister Narendra Modi said that India is ready to produce 5 billion vaccine doses by the end of next year i.e. 2022 to help the world. Briefing the media about Modi’s address at the meeting, Foreign Secretary Harsh Vardhan Shringla said, “Interventing during the ‘Global Economy Global Health’ session of the G20 meeting, the PM sought to facilitate international travel and mutual approval for vaccine certification. It was also suggested to make arrangements.

Underlining that emergency approval for India-made Covaxin is still pending in the World Health Organization, India has suggested that India can help other countries by getting this vaccine approved. In his address, Modi also mentioned the supply of medical aid to 150 countries of the world during the pandemic and maintaining the global supply chain.

UN takes a dig at inequality in vaccines
The UN chief blames geopolitical divisions for hindering global vaccination to fight Corona. “On the one hand people in rich countries are getting the third dose of vaccine, on the other hand only five percent of Africans have been fully vaccinated,” he said. Britain’s PM Boris Johnson announced a donation of 20 million vaccines to developing countries in view of the inequality in vaccines.

Minimum Corporate Tax Good news for all
The consensus on the 15 per cent global minimum corporate tax in the G20 meeting has come as great news for all countries. For this, the economic superpowers are going to support the Organization for Economic Cooperation and Development (OECD) agreement. Its draft findings will be formally accepted on Sunday. The terms of the agreement will come into force globally from 2023. Its purpose is to prevent multinational companies from hiding their profits in countries where they pay little or no tax. The White House has praised the move as a game changer.

Discussion on climate change in Glasgow today
India’s emphasis will be on reducing carbon emissions at the UN’s COP26 conference on climate change in Glasgow, UK. The conference will be held from October 31 to November 12, in which the heads of government or their representatives of 120 countries of the world will participate. Britain and Italy will preside over the conference.

India and Italy have agreed to enhance cooperation to promote green and natural energy. According to a joint statement issued after the first meeting between Prime Minister Narendra Modi and Italian Prime Minister Mario Draghi, the two leaders have agreed to promote joint investment in Indian and Italian companies in energy transformation.

According to the statement, the two agreed to negotiate for the development and installation of green hydrogen and related technology in India. Apart from this, Italy will also help in building a huge Green Renewable Energy Corridor towards meeting India’s target of producing 450 GW of renewable energy by 2030. Joint ventures will be encouraged to make urban public transport electric.

India has set a target of 4,50,000 MW from solar power, wind power by 2030. The intention is to bring the share of natural gas in energy to 15 percent to achieve the goal of low carbon emissions.

The Joint Working Group on Energy Sector, formed through a Memorandum of Understanding on October 30, 2017, will now explore possibilities in areas such as smart cities, transportation and smart grids, the joint statement said.

Moments spent with many world leaders
On the sidelines of the G20 summit, the Prime Minister spent light moments in a personal meeting with the world’s top leaders. During this he spoke to US President Joe Biden. In the picture released by the PMO, both the leaders are seen smiling while talking. Similarly, he also met British Prime Minister Boris Johnson, Canadian Prime Minister Justin Trudeau, German Chancellor Angela Merkel, South Korean President Moon Jae In, UN Secretary General Antonio Guterres and Singapore Prime Minister Lee Hsien Loong.

It is a great honor to meet PM: Indian ancestry got emotional after meeting Modi
Prime Minister Modi said on Saturday that good talks have been held with the Indian diaspora in Italy. Apart from people gathering information about India there, he also met people who have developed close ties with their motherland over the years. On the second day of his Italy visit, Modi also shared pictures from his meeting with the Indian diaspora on Twitter. On Twitter, he wrote, Nice to talk to the Indian diaspora in Italy on Friday. It was wonderful to know his views on various subjects.

Bilateral relations gain momentum in meeting with Macron
In the meeting between Modi and French President Emmanuel Macron here, discussions were held to give further impetus to the relationship. It was also agreed to further enhance the strategic partnership. External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval were also present with Modi. Foreign Ministry spokesman Arindam Bagchi said that Modi and Macron have discussed many global and regional topics.

Prime Minister Narendra Modi on Saturday met Pope Francis, the biggest cleric of the Roman Catholic Church, for the first time. PM Modi said that his meeting with the Pope was warm and the two discussed many issues ranging from the Kovid epidemic to the challenge of climate change. The Prime Minister has also invited the Pope to visit India.
The Foreign Ministry said, the Pope commended India for helping the world during the pandemic. He has accepted the invitation to visit India.

The scheduled meeting of 20 minutes lasted an hour
The meeting was scheduled for 20 minutes between the PM-Pope, but this meeting lasted for an hour. External Affairs Minister S Jaishankar and NSA Ajit Doval were also present.

  • The Kerala Catholic Bishops’ Council has termed the Pope’s invitation to visit India as historic.
  • Rashtriya Swayamsevak Sangh has welcomed Modi’s meeting with the Pope.

Expansion

Italian President Mario Draghi on Saturday opened the summit of the world’s most powerful countries, the G20, with a demand to increase vaccine supplies for poor countries. The large global vaccine supply gap is morally unacceptable, he said. This time Italy is the host of the two-day summit of the G20.

Draghi said, in poor countries of the world, only 3 percent of the population has received at least one dose of the vaccine, while in rich countries more than 70 percent of the population has received at least one dose. This gap is morally unacceptable and weakening the fight against the pandemic, he said. Draghi was an economist and head of the European Central Bank.

At the meeting, French President Emmanuel Macron resolved that he would use the conference to pressure fellow European leaders to generously donate vaccines to poor countries. But civil society advocates, who have been in talks with G20 officials before the start of this meeting, are viewing this approach of charity with suspicion. The World Health Organization has set a target of 40 percent immunization worldwide this year and 70 percent next year.

Expected to keep $100 billion for Africa….

Macron told reporters, it is expected that the G20 will approve an additional $100 billion to revive Africa’s economy. This money will be part of the $650 billion that can be withdrawn from the IMF’s foreign exchange tool under special withdrawal rights.

India ready to make 5 billion vaccines of Kovid by 2022: Modi

Underlining India’s role in fighting the corona pandemic at the G20 meeting on Saturday, Prime Minister Narendra Modi said that India is ready to produce 5 billion vaccine doses by the end of next year i.e. 2022 to help the world. Briefing the media about Modi’s address at the meeting, Foreign Secretary Harsh Vardhan Shringla said, “Interventing during the ‘Global Economy Global Health’ session of the G20 meeting, the PM sought to facilitate international travel and mutual approval for vaccine certification. Also suggested to make arrangements.

Underlining that emergency approval for India-made Covaxin is still pending in the World Health Organization, India has suggested that India can help other countries by getting this vaccine approved. In his address, Modi also mentioned the supply of medical aid to 150 countries of the world during the pandemic and maintaining the global supply chain.

UN takes a dig at inequality in vaccines

The UN chief blames geopolitical divisions for hindering global vaccination to fight Corona. “On the one hand people in rich countries are getting the third dose of vaccine, on the other hand only five percent of Africans have been fully vaccinated,” he said. Britain’s PM Boris Johnson announced a donation of 20 million vaccines to developing countries in view of the inequality in vaccines.

Minimum Corporate Tax Good news for all

The consensus on the 15 percent global minimum corporate tax in the G-20 meeting has come as great news for all countries. For this, the economic superpowers are going to support the Organization for Economic Cooperation and Development (OECD) agreement. Its draft findings will be formally accepted on Sunday. The terms of the agreement will come into force globally from 2023. Its purpose is to prevent multinational companies from hiding their profits in countries where they pay little or no tax. The White House has lauded the move as a game-changer.

Discussion on climate change in Glasgow today

India’s emphasis will be on reducing carbon emissions at the UN’s COP26 conference on climate change in Glasgow, UK. The conference will be held from October 31 to November 12, in which the heads of government or their representatives of 120 countries of the world will participate. Britain and Italy will preside over the conference.

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