According to Modi, higher capital requirements should not become a constraint on promoting financial inclusion or functioning of the banking sector in developing countries.
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Modi at the dinner had stated that a few countries still use terror as “an instrument of state policy” and need to be isolated while terror financing should be criminalised. “G-20 can play an effective role in supporting the multilateral goals of increasing research and development to develop affordable renewable energy”, he added.
“We must meet the target of $100-billion goal per year by 2020”, said the prime minister in this Mediterranean resort, ahead of the crucial meeting of the Conference of Parties (COP) in Paris from November 30 to December 11, under the aegis of the UN Framework Convention on Climate Change.
Prime Minister Narendra Modi on Sunday said the world “stands united” in condemning the terrible Paris attacks in which suspected Islamic State gunmen massacred almost 130 people and injured many others on Friday. Earlier today Prime Minister Modi addressed the BRICS Summit expressing Indias deep concerns on burgeoning terrorism and urged entire mankind to rise in solidarity against terrorism. Combating it must be major priority for G20″, Modi said here at the G20 Summit of leaders from the world’s top-20 economies. We must isolate those who support and sponsor terrorism; and stand with those who share our values of humanism, ” the Prime Minister said. “We are honoured to assume the Chairmanship of BRICS from 1st February, 2016 and build on the great work done by other Members”, he said.
The theme of India’s BRICS Chairmanship will be “Building Responsive, Inclusive and Collective Solutions” or “BRICS”.
Besides, he also held bilateral meetings on the sidelines, including with Australian Prime Minister Malcolm Turnbull.
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Apart from a civil nuclear agreement signed between the two countries, commercial deals worth $14 billion were signed. Modi raised the issue of terror on various occasions on the first day of the two-day G20 Summit yesterday.
