New Delhi: India Friday urged the twenty most significant economies of the world (G20 nations) for mutual recognition of travel documents, including vaccine certificates and Covid-19 test reports issued by other countries to facilitate global trade and travel.
Commerce and Industry minister Piyush Goyal, who is in Rome, to help finalise the Rome Declaration which will be adopted at the meeting of G-20 leaders, shared India’s concerns on a range of issues such as food security, climate change, concessional climate financing, and suspension of loan repayment to enable the developing countries to cope with the challenges posed by Covid-19.
Prime Minister Narendra Modi has also arrived in Rome today morning to participate in the G-20 summit, which is his eighth G-20 summit.
As part of the sixth G-20 Sherpas’ meeting, Goyal held bilateral meetings with his G-20 counterparts such as the UK, Germany, France, European Union, Indonesia and Singapore.
After the meeting, Goyal told reporters that the G20 ministers have supported India’s position that extensive COVID-19 immunization is a global public good.
Goyal said several G-20 ministers supported India’s demand for mutual recognition of travel documents, including testing and vaccine certificates.
Earlier this month, India had decided to impose similar restrictions on the travellers coming from the UK as were imposed by the UK authorities on Indian travellers.
It forced the UK authorities to relax the restrictions for fully vaccinated Indian travellers.
Food Security
India has always sought support for its food security programme at global discussions such as G-20 and discussions at the World Trade Organisation (WTO).
In his discussion with G-20 ministers, Goyal said the policies must protect the interests of small and marginal farmers, conserve local food cultures which in turn will ensure food security and sustainable development.
Climate Change
India sought the support of G-20 nations for galvanizing global climate action which includes commensurate, long-term and concessional climate finance, access to affordable and sustainable technology, and commitment to adopt sustainable lifestyles and responsible and consumption pattern.
Economic recovery
India is co-chair of the G-20 Framework Working Group on economic recovery post Covid.
Goyal said India is ensuring that there is no premature withdrawal of support and the most vulnerable sections are provided with the necessary support. “G20 has agreed to extend the debt service suspension initiative till the end of 2021 thereby giving some breathing space to those in need and vulnerable around the world,” said the minister.
Global minimum corporate tax
During his interaction with G-20 ministers, Goyal also pushed for a reform of the global tax structure.
India has pushed the G20 nations to address the mismatch between the source of generation of profits and the jurisdiction where they are taxed.
This will ensure that large MNCs pay a minimum effective corporate tax in the country of their operation, he said.
Why is the G-20 important?
The G-20 or a group of 20 nations has gradually emerged as the most important platform for world leaders to discuss and shape the economic agenda as these 20 countries alone represent the world’s 80% GDP, 75% of the world trade and 60% of the world population.
The G-20 Presidency is rotated among the member countries and this year Italy is holding the presidency under the theme: People, Planet, Prosperity with a focus on recovery from the pandemic and strengthening global health governance, economic recovery and resilience, climate change and energy transition and sustainable development and food security.
