By S A H Rizvi
Bureau Chief
The Times Kuwait
New Delhi

The G20 Leaders summit concluded with Indian Prime Minister Narendra Modi handing over the G20 Presidency gavel to Lula da Silva, the President of Brazil, a country, which will assume the presidency of the grouping from December 1 this year.

Addressing the closing session of the G20 Summit, PM Modi proposed holding a virtual session at the end of November to take stock of the progress made on the suggestions in New Delhi.

In the morning however there was a major glitch as last night rainfall inundated portion of newly constructed Bharat Mandappam venue of the summit. However Press Information Bureau of India rejected the video that went viral saying due to heavy rains water had accumlated at the front portion which were immediately cleared by putting water pumps into action.

Handing over the gavel of the Presidency to Brazil President, Modi said, “We have full faith in the Troika spirit. We will provide our full support to Brazil and are confident that under their leadership, the G-20 will further our shared goals.”

“As you all know, India has the responsibility of G-20 Presidency till November. There are still two and a half months left. In these two days, all of you have put forth many things, given suggestions, made many proposals. It is our responsibility to look at the suggestions that have come forward to see how our progress can be accelerated. I propose that we hold another virtual session of the G-20 Summit at the end of November,” Modi said.

“In that session we can review the topics decided during this summit. Our team will share the details of all these with you all,” he said before declaring the conclusion of the G-20 Summit.

Earlier in the day, Modi addressed the third session of the G20 Summit and suggested a framework for responsible

“Today, we are witnessing unimaginable scale and speed in new generation technology. The example of Artificial Intelligence is in front of us. In 2019, the G20 adopted ‘Principles on AI’. Today we need to go one step further,” Modi said.

“India has used technology for inclusive development and last-mile delivery. In our smallest villages, even the smallest merchants are making digital payments. I am glad that under India’s chairmanship, a strong framework for Digital Public Infrastructure has been agreed upon. Similarly, the ‘G20 Principles on Harnessing Data for Development’ has also been accepted,” the PM said.

The Prime Minister said it has also been decided to launch the “Data for Development Capacity Building Initiative” for the development of Global South. Formation of the Startup 20 engagement group during the Presidency of India is also a big step, he said.

The Prime Minister also flagged the need for the development of global standards for regulating crypto-currencies. He also stressed the need for reforms in global institutions.

“To take the world towards a better future, it is necessary that the global systems should be according to the present realities. Today, the United Nations Security Council is also an example of this… At that time there were 51 founding members in the UN. Today the number of countries included in the UN is around 200,” Modi said.

“Despite this, the number of permanent members in the UNSC is still the same. Since then, the world has changed a lot in every aspect. Be it transport, communication, health, or education, every sector has today

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