Prime Minister Narendra Modi concluded the G20 Summit in New Delhi on Sunday by handing over a ceremonial gavel to Brazil, which will assume the presidency of the bloc.
GS Paper – 2- Groupings & Agreements Involving India and/or Affecting India’s Interests
Dimensions of the article:
- About G20
- G20 Summit, 2023
- Brazil’s Presidency
The G20 Summit serves as an international governmental forum that plays a pivotal role in shaping and reinforcing the global economic framework and associated governance. Initially, the Group of 20 primarily focused on global macroeconomic issues and financial stability, which were its core reasons for establishment. However, over time, its agenda has expanded to encompass a wide array of concerns, including trade, climate change, sustainable development, healthcare, agriculture, energy, environmental conservation, anti-corruption efforts, and more.
Outcomes of the G20 Summit, 2023
- New Delhi Leaders Declaration: The country heads signed the New Delhi Leaders Declaration, which emphasizes Inclusive Growth.
- Global Biofuel Alliance: Member countries created the Global Biofuel Alliance, focusing on promoting the maximum use of biofuels.
- Digital Public Infrastructure (DPI) Framework: A voluntary and suggested framework for the development, deployment, and governance of DPI was unanimously accepted by all G20 member countries.
- Global Digital Public Infrastructure Repository: The declaration mentions the approval of India’s plan to build and maintain a global repository where non-G20 and GG-20 countries can voluntarily share open-source mechanisms to foster a mutually beneficial ecosystem.
- One Future Alliance: The declaration acknowledges India’s proposal to create the One Future Alliance, a voluntary initiative aimed at building capacity, providing technical assistance, and offering funding support for implementing digital public infrastructure in low and middle-income countries.
- Ukraine Conflict: G20 nations recognized that states should not acquire territory through force and expressed concern for the suffering of the Ukrainian people. However, they refrained from direct criticism of Russia, marking a softening of their position compared to the previous year.
- African Union Membership: The 55-member African Union was granted permanent membership status in the G20, alongside the European Union, to enhance the representation of the Global South within the G20.
- U.S., Saudi, India Transport Corridor: Leaders from the United States, India, and Saudi Arabia announced plans to establish rail and port links connecting the Middle East, South Asia, and eventually Europe as a strategic project.
- Climate Change: G20 leaders agreed to aim for a tripling of global renewable energy capacity by 2030 and acknowledged the need to phase out unabated coal power. However, they did not set significant climate goals or provide concrete plans for financing the transition to green energy.
Looking ahead, Brazil is set to assume the G20 presidency on December 1, with a focus on priorities such as social inclusion, the fight against hunger, energy transition, sustainable development, and global governance reform. Brazil aims to build a fair world and a sustainable planet through initiatives like the global alliance against hunger and poverty and the global mobilization against climate change.