G-20 Meets in Brisbane in Mid Nov, Seeks 2% Extra Growth Formula

Curbs on Global Tax Dodging on the Anvil

The G-20 leaders’ summit is the most high profile event in the G20 year, is set for November 14-15 in Brisbane, Prime Minister Narendra Modi representing India will lead the delegation. He should include FM Jetley who will participate in the two day meeting of Finance Ministers preceding the 15-16 summits. UK, Germany, France and China heads will follow G-20 with state visits to Sydney and Canberra. Some of them including PM Modi will address Australian Parliament. The Australian presidency of the G20 has witnessed a focus on the fundamentals: trade, tax issues, infrastructure, employment and banking.

On trade, India will be cornered again WTO trade facilitation agreement finalised during last year’s ‘Bali Ministerial’. Australia leads in anti subsidy on food as leader of Cairns group. India is a votary of food subsidy exceeding the 10% limit set by WTO.

One of the key outcomes of last year’s G20 summit in St Petersburg back any new instalments of trade or investment related protectionist measures until the end of 2016.