Prime Minister Narendra Modi on Friday told G-20 leaders that India’s demonetisation move had dealt a “blow to corruption, boosted digitisation and enlarged the formal economy”. At the session on global growth and trade, he said: “We are ready to carry forward the fight against black money and corruption. Hope G-20 will assume leadership to act on all important issues.” A global implementation of automatic exchange of financial account information on a reciprocal basis would help curb black money and illicit flows, he said.
In the presence of US President Donald Trump at the meeting on global growth and trade, Modi said that the “rise in protectionism threatens gains from globalisation and the G-20 must speak in one voice to support and sustain a regime of openness”. Modi also spoke on the Sustainable Development Goals to remove poverty, inequality and take steps to battle climate change. The Prime Minister said Skill India and Digital India as well as financial inclusion measures were India’s own initiatives in consonance with development goals.
Stressing upon the need to be forthcoming on climate change action, he said developing countries must have enough room to grow. Modi proposed an international coalition of countries that can identify technology, develop systems and build capacities, and that “India (is) ready to lead” on this front. Modi also emphasised the need for cooperation while dealing with opposing realities on the climate change debate.
He outlined his national priorities before the G-20 summit, which included lifting 100 million households out of poverty by 2019, doubling income of farmers by 2022, and equipping 500 million youths with productive skill sets.