Indian Prime Minister Narendra Modi warned that there is a risk of a "new model of colonialism" if nations with critical minerals do not see it as a global responsibility, as the race to secure resources for energy transition goals intensifies. Modi emphasized the need for cooperation in the face of uneven geographical diversification and export restrictions imposed by countries like China.
Indian Prime Minister Narendra Modi has called for global collaboration on formulating crypto regulations during the annual G20 summit, advocating for a comprehensive global framework for regulating cryptocurrencies despite India's own lack of regulatory clarity and high taxation.
Indian Prime Minister Narendra Modi's exchange with Chinese President Xi Jinping at the BRICS summit in South Africa suggests a potential thawing of the financial relationship between the two countries, with India showing interest in a larger Chinese presence in its businesses and a softening of its screening policy for investments.
Indian Prime Minister Narendra Modi discussed India's achievements during its presidency of the G20, highlighting its human-centric model of development and its response to the pandemic, which has gained recognition and appreciation from the international community; he also emphasized the importance of including the Global South and Africa in global affairs and addressing their needs. Additionally, Modi noted India's efforts in promoting renewable energy and the democratization of technology, while acknowledging the challenges of cybercrime and the need for global cooperation. He expressed confidence in India's future economic growth and its potential to become one of the top three economies in the world by 2030 and a developed country by 2047.
African Union Chairperson Azali Assoumani thanked Prime Minister Narendra Modi for his support in including the 55-nation African Union in the G20, calling India the "fifth superpower of the world" and praising its power and influence; he also expressed Africa's openness to investment from countries other than China.
