Mon, Mar 27, 2017 | updated 12:15 PM IST

Global value chains must provide level playing field to developing nations: PM Modi

Updated: Sep 05, 2016 11:52 IST

Hangzhou [China], Sept. 5 (ANI): Emphasising on the fact that global trading regime needs to respond to the needs and priorities of the developing nations, Prime Minister Narendra Modi on Monday urged the global value chains to provide developing nations a 'level playing field.'

Intervening in the session on 'Robust International Trade and Investment' on the second day of the 11th G20 Summit here in Hangzhou, Prime Minister Modi said global trade is at a cross roads.

"Vision of transparent, equitable, non-discriminatory, open, inclusive and rule-based global trading architecture should underpin collective efforts," he added.

Stressing on the fact that trade facilitation is important among the global nations; he urged all countries to fully implement the Bali and Nairobi Ministerial decisions

The Prime Minister insisted that India's priority is to work towards trade facilitation agreement for services.

He also called on the G20 member nations to act to stimulate investment flows.

"Transformed and liberalized investment regime has put India among top host nations for FDI. Global investment principles shouldn't be prescriptive. Countries need policy space depending on national circumstances and developmental focus," he said.

Earlier in the day, Prime Minister Modi said that fighting corruption, black money and tax evasion is the key to effective financial governance.

Intervening in the session on 'More Effective and Efficient Global Economic and Financial Governance' at the G20 Summit, he called for zero tolerance for corruption and black money and zero administrative, policy and treaty loopholes in this area.

He said that the G-20 member nations need to act to eliminate safe havens for economic offenders and track down and unconditionally extradite money launderers.

Prime Minister Modi also held his first bilateral meeting with British counterpart Theresa May on the sidelines of the G20 Summit.

He also met French President Francois Hollande and Turkish President Recep Tayyip Erdogan.

Yesterday, he held bilateral talks with Chinese President Xi Xinping, Australian Prime Minister Malcolm Turnbull and Deputy Crown Prince of Saudi Arabia Mohammad Bin Salman on the sidelines of the summit. (ANI)

Hyderabad [Pakistan], Mar. 27 (ANI): Pakistan Supreme Court Justice Amir Hani Muslim has said that it is impossible for 17 apex court judges to take care of the entire country.

Full Story >>

Pak detains 73 Indian fishermen

Updated: Mar 27, 2017 10:41 IST

Karachi [Pakistan], Mar. 27 (ANI): At least 73 Indian fishermen have reportedly been detained by the Pakistan Maritime Security Agency (PMSA) for allegedly fishing in territorial waters of the country.

Full Story >>

London [U.K.], Mar. 27 (ANI): Joe Biden believes he could have won the Presidency in 2016, had he made it through a tough Democratic primary.

Full Story >>

London [U.K.], Mar. 27 (ANI): With just 48 hours before British Prime Minister Theresa May formally triggers article 50 - the official process for exiting the European Union (EU), Labour's Brexit spokesman Keir Starmer will set out six tests which any deal must pass, or face the opposition of Labour in the House of Commons.

Full Story >>

Iran imposes sanctions on 15 U.S. companies

Updated: Mar 27, 2017 06:23 IST

Tehran [Iran], Mar. 27 (ANI): Iran has imposed sanctions on 15 U.S. companies "supporting terrorism," according to local media reports.

Full Story >>

London [U.K.] India, Mar. 27 (ANI): The family of PC Keith Palmer, who was stabbed to death as he guarded the building by an attacker Khalid Masood when he drove through the Westminster bridge in a bid to enter the the Palace of Westminster, has thanked those who fought for his life and paid tribute to the "selfless bravery" of the officer.

Full Story >>

Kiev [Ukraine], Mar. 27 (ANI): A Ukrainian military helicopter crashed in the eastern region of the country on Sunday, killing all five people aboard after apparently hitting a power line, the army said.

Full Story >>

London [U.K.], Mar. 27 (ANI): British-born terrorist Khalid Masood, who killed five people and injured more than 50 in an attack on Westminster here, was known as a potential extremist in 2010, it emerged as the police made a fresh arrest in connect

Full Story >>

London [U.K.], Mar. 27 (ANI): United States President Donald Trump on Tuesday will sign an executive order to unveil former president Barack Obama's plan to curb global warming, the head of the Environmental Protection Agency said on Sunday, claiming the move would be "pro-growth and pro-environment."

Full Story >>

Moscow [Russia], Mar. 26 (ANI): Russia's main opposition leader Alexey Navalny has been detained amid a tense anti-corruption protest in the heart of Moscow, according to his tweets.

Full Story >>

Pyongyang [North Korea], Mar. 26 (ANI): The North Korean military on Sunday warned the United States and South Korea against any attempt to stage a "special operation" to hit its leadership and military installations, including the nuclear arms base.

Full Story >>

Washington D. C. [USA], Mar. 26 (ANI): U.S. President Donald Trump on Sunday criticized conservative Republicans for nixing the party's ObamaCare overhaul plan, saying, "Democrats are smiling" because the conservatives saved the struggling health care law and Planned Parenthood.

Full Story >>

Moscow [Russia], Mar. 26 (ANI): The Russian Foreign Ministry has expressed disappointment over the U.S. authorities' decision to introduce sanctions against eight more Russian companies.

Full Story >>

Geneva [Switzerland], Mar. 26 (ANI): United Nations envoy to Syria Staffan de Mistura has sent a letter to the three guarantor states of the Syria cease-fire - Russia, Turkey and Iran - urging them to undertake urgent efforts to uphold the cease-fire regime during the ongoing peace talks in Geneva.

Full Story >>

London [UK], Mar. 26 (ANI): The ban on carrying some selected electronic devices by the passengers in cabins of flights from certain countries in the Middle East and Africa by the United States and United Kingdom was put considering a previously undisclosed terrorists' plot involving explosives hidden in a electronic device.

Full Story >>

Houstan [USA], Mar. 26 (ANI): Ian Grillot, who was injured while trying to intervene during the Kansas shooting incident that killed Indian engineer Srinivas Kuchibhotla, was felicitated by Indian-Americans community in Houston.

Full Story >>

Islamabad [Pakistan], Mar. 26 (ANI): A new government report obtained by the Pakistani media has revealed that the major source of funding for terror and extremist groups in the country is crime including extortion, smuggling and kidnapping for ransom.

Full Story >>

Cincinnati [United States], Mar. 26 (ANI): At least one person has reportedly been killed and several others injured after a gunman opened fire at Cameo Night Club in Cincinnati, Ohio, local U.S. media reported.

Full Story >>

Washington [United States], Mar. 26 (ANI): Pakistan Ambassador to the United States Aizaz Ahmad Chaudhry has reiterated that Islamabad wants good relations with India, but every time the dialogue process is halted, it eventually helps the terrorists to have their way.

Full Story >>

Tokyo [Japan], Marc. 26 (ANI): NEC Corporation and Netcracker Technology have announced their participation in a trial with Nippon Telegraph and Telephone Corporation (NTT) to realize the "NetroSphere Concept" for developing future communication networks.

Full Story >>