'G20 acknowledges India's leadership on global concerns': Piyush Goyal on eve of Summit

The G20 member states have reached a “broad consensus” on the issue of recognising vaccine certificates to resume travel and economic activities and boost post-pandemic recovery, said Union Commerce Minister Piyush Goyal on Friday.

Goyal has been in Rome for the past three days to oversee the final preparations for Prime Minister Narendra Modi’s participation in the G20 Summit.

Addressing a news briefing in Rome, Goyal acknowledged that India has made “significant interventions” in discussions on key issues such as mutual recognition of vaccine certificates, sustainable development and climate change that will figure in the declaration to be issued after the G20 Summit.

He said there was a “broad consensus” on mutual recognition of vaccine certificates because all the nations are looking to resume travel and economic activity. The G20 members are working towards the acceptable language to bring the matter within the grouping’s framework, Union Minister Piyush Goyal said.

“We are quite confident that there is broad consensus and the language is being worked out on how we can bring it in. To bring in the sense and bring confidence to the world, that we are all committed to faster recovery, resilient recovery, yet at the same time ensuring that there is sufficient policy space for nations to protect their own national interests,” Goyal said.

The G20 sherpas, including the commerce minister, have held discussions over the past three days on the proposed declaration to be adopted at the G20 Summit on October 30 and 31, 2021. Goyal said that India had spoken for developing, low and middle-income countries at these talks, and most G20 states had endorsed our position that “extensive COVID-19 immunisation is a global public good.”

India also batted for sustainable development and food security and emphasised that policies must protect the interests of small and marginal farmers while conserving local food cultures.

On climate change and environment, India spoke on the “need for critical enablers for galvanising global climate action,” including commensurate long-term concessional climate finance, access to affordable and sustainable technology, and a commitment to adopt sustainable lifestyles and responsible consumption patterns, Goyal said.

As co-chair of the G20 framework working group on economic recovery, India is ensuring that there is no premature withdrawal of financial support for the most vulnerable countries.

In the realm of tax reforms, India pushed the G20 to address a “mismatch between the source of generation of profits and jurisdiction where profits are taxed” to ensure that large MNCs pay a minimum effective corporate tax in the country of operation, he said.

India to take G20 Presidency in 2022

Goyal also noted that India was one of the most responsible countries in terms of meeting its nationally determined contributions (NDCs) under the Paris Accord to cut greenhouse gas emissions. On the other hand, several other countries hadn’t fulfilled their commitments to providing finance and technology to developing countries. The G20 sherpas discussed how to reflect collective efforts and the need for all nations to meet their targets while being more ambitious while going forward, he said.

This year, Italy convened a special summit to leverage the G20’s influence in addressing the humanitarian crisis in Afghanistan. Goyal said that India will take on the G20 Presidency during the period between December 1, 2022, and November 30, 2023, and enter the Troika in December this year and will take leadership on the issues and concerns of developing countries and emerging market economies in the G20 forum.

Image: Twitter/@PiyushGoyal