G20 CHARTS NEW GLOBAL PATH

As a successful Indian presidency nears the end of its term, Modi flags key focus areas for the future, and renews his call for a reformed global order to better reflect a changed world

- Prashant Jha

NEW DELHI: India on Sunday began the process of handing over the G20 presidency to Brazil after a successful stint that culminated in an unprecedented joint declaration, with Prime Minister Narendra Modi calling for a new global structure to reflect a changed world; new frameworks to govern artificial intelligence (AI), regulate cryptocurrencies, and ensure cyber security; the reform of multilateral development banks (MDBs); and the need to ensure sustainability as the top issues that the world must address. On the concluding day of the G20 Summit,Modi handed over the ceremonial gavel to Brazil’s President Luiz Inacio Lula da Silva, whose country will take over the presidency on December 1. But in order to review the progress made on the declaration, Modi called for a final virtual summit of leaders in November. “We will fully support Brazil and believe that under its

leadership, G20 will move forward towards our common objectives,” Modi said. He added that all leaders had put forward their views, given suggestions and offered proposals in the past two days. “It is our responsibility that we review the suggestions and find ways to give them momentum.” The November virtual summit will review these subjects,Modi said. On Day 1, in a departure from the norm, the

Indian Presidency succeeded in delivering the New Delhi Declaration, which found away to reconcile the global geopolitical divide on Ukraine and address a range of priority issues, including growth, climate, sustainable development goals (SDGs), debt crisis, digital transformation, women-led development and reform of MDBs.