G20 Endorses India's Concerns On Money, Beyond


India has no official estimates of illegal money stashed away overseas, but the unofficial ones range from $466 billion to $1.4 trillion.

In fact, according to Indian interlocutors, such strong words on illicit money and imposition of curbs in the communique would not have been possible without India's intervention, since the original draft did not contain a language that was satisfactory for India.

They said the prime minister and his official team led by his Sherpa, Railway Minister Suresh Prabhu, got strong endorsements for New Delhi's stand, notable Brazil and South Africa, to make this happen.

"India scores at G20," the external affairs ministry spokesperson Syed Akbaruddin tweeted. He and Minister Prabhu even termed the outcome "unprecedented success".

“The G0 communique addressed concerns going beyond G20, developmental issues -- employment, India’s prime concern, was a central issues of discussion,” Prabhu told reporters at a post-summit briefing here.

The tax and related black money issue apart, several other issues which New Delhi pursued vigorously in Brisbane found echo at the G20 Summit -- reducing the cost of remittances from abroad, of which India is the largest beneficiary at $70 billion annually, collaborations on energy, infrastructure financing, inclusive growth, job creation and energy security.

The communique also specifically welcomed the breakthrough between India and the United States at the World Trade Organisation (WTO) and saw this as paving the way for a pact that will help ease the processes involved in global commerce, and move forward in addressing the concerns of developing countries on food security.

Source: PTI