G20 Summit: PM Narendra Modi Will discuss ways to meet new & upcoming challenges

Prime Minister Narendra Modi, who is travelling to Buenos Aires to attend the 13th G20 summit, said Tuesday he would be discussing ways to meet the new and upcoming challenges of the coming decade with world leaders there.

In his departure statement issued here, Modi said through the 10 years of its existence, the G-20 had strived to promote stable and sustainable global growth.

"This objective is of particular significance for developing countries and emerging economies such as India, which is today the fastest growing large economy in the world," he said.

Modi said the country's contribution to the global economic growth and prosperity underlined its commitment to 'Building Consensus for Fair and Sustainable Development', which is the theme of the summit.

"I look forward to meeting leaders from other G-20 countries to review the work of G-20 in the last ten years of its existence and chart the ways and means to meet the new and upcoming challenges of the coming decade," he said.

The prime minister said the participants would deliberate on the situation of the global economy and trade, international financial and tax systems, the future of work, women empowerment, infrastructure and sustainable development.

Emerging economies, which played a major role in revitalising the growth in the global economy pursuant to the financial crisis are today facing unprecedented economic and technological challenges, Modi said.

"I will highlight the need for reformed multilateralism which reflects the contemporary realities and can effectively strengthen collective action for global good," he noted.

The prime minister stressed on the need to strengthen international cooperation and enhance coordinated action against fugitive economic offenders and financing of terrorism.

"As in the past, I look forward to the opportunity to meet leaders on the sidelines of the Summit to exchange views on bilateral matters of mutual interest," he added.

Earlier in the day, the Ministry of External Affairs said Modi would meet Chinese President Xi Jinping and German Chancellor Angela Merkel on the sidelines of the event.

He will be in Buenos Aires from November 29-December 1.

(With inputs from agencies.)