India still on margins in G-20's power play
6 years, 1 month ago

India still on margins in G-20's power play

Deccan Chronicle  

Ten years ago, the Group of Twenty, or G-20, was created to coordinate worldwide action to combat the global financial crisis. India’s Prime Minister Narendra Modi happily posed with him eyeing prospective Saudi investments in India and the three million-odd Indians working in Saudi Arabia, besides the Indian dependence on oil imports. The US-China meeting had implications for global trade as the two largest economic powers, having imposed tit-for-tat tariffs, sat down for what the two leaders later called a “highly successful meeting”. The United States postponed tariff hikes on $250 million Chinese products from 10 per cent to 25 per cent planned January 1 as China agreed to buy a substantial amount of agricultural, industrial and energy products and agreed, with a 90-day deadline, as well as to “immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusion and cyber theft”. Jawaharlal Nehru, India’s first Prime Minister who is now reviled by the neo right-wing, paid obeisance at the “temples of modern science and industry”.

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