India will press for reductions in the cost of transferring money from abroad, as well as call for quota reforms in the International Monetary Fund at the G20 summit this weekend. Niti Aayog vice-chairman Arvind Panagariya, the Sherpa (emissary) for G20 talks, said that transaction costs for remittances have come down, but the aim is to bring it to 3% by 2030. India is the largest recipient of remittances in the world, receiving USD 70 billion in 2014. Panagariya added that a strong pitch would be made for quota reforms in the IMF, something developing countries have been pushing for in the last few years.

In a series of Facebook posts, Prime Minister Narendra Modi also said the summit would review the progress of decisions made at the 2014 Brisbane Summit and would take up issues including climate change, terrorism, refugees and weak growth in the global economy. New Delhi will also push for a mechanism by which G20 countries can assist each other to improve global growth.