Prime Minister Narendra Modi. File photo: Mint
Prime Minister Narendra Modi. File photo: Mint

At G20 summit, Modi to take up risks posed by oil price volatility

Narendra Modi, who is leaving for Buenos Aires on Wednesday, will also stress on the need to look at 'reformed multilateralism'

Prime Minister Narendra Modi will flag India’s concerns about the risks posed by oil price volatility at the forthcoming G20 summit in Argentina, foreign secretary Vijay Gokhale said on Tuesday.

Modi, who is leaving for Buenos Aires on Wednesday, will also stress on the need to look at “reformed multilateralism"—in other words—that, “We cannot replace a rules-based agreed multilateral order with unilateral actions but we can certainly look at a reform of systems in the light of the new situation," Gokhale told reporters in New Delhi.

Ways to stem financing of terrorist groups and building disaster resilient infrastructure were two other areas that India would be focussing on at the two-day meet, the foreign secretary said.

The G20 grouping of developed and developing economies was formed in the wake of the global financial crisis in 2008. This is the 10th summit of the grouping.

On the sidelines of the meet, Modi will meet leaders of all BRICS countries—Brazil, Russia, China and South Africa. Besides this, Modi will have separate meetings with Chinese President Xi Jinping and Russian President Vladimir Putin. A meeting with US President Donald Trump could also happen.

According to Gokhale, the meeting with Xi is aimed at building trust with China.

Modi is also expected to meet European Union leaders, UN secretary-general Antonio Guterres and German Chancellor Angela Merkel.

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