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The 18th G20 Summit of 2023 concluded in New Delhi, marking the first-ever G20 summit hosted by India. The summit’s theme, “Vasudhaiva Kutumbakam” or “One Earth, One Family, One Future” is rooted in ancient Sanskrit texts and the goal of sustainable development.
So what actually happened during the 2-day summit? Let’s break it down…
The Delhi Declaration
In a momentous development, the New Delhi Declaration was adopted by the leaders of the G20 leaders and all 83 paras of the declaration were passed unanimously with a 100 percent consensus along with China and Russia in agreement.
The declaration underscores the significance of fostering robust, long-lasting, equitable, and comprehensive development.
Key highlights of Delhi Declaration
It mentions that all states must refrain from threat or use of force to seek territorial acquisition and also stated that terrorism constitutes one of the most serious threats to international peace and security.
The document emphasises protecting the vulnerable through promoting equitable growth and enhancing macroeconomic and financial stability and also focuses on strong and sustainable growth, a green development pact, and reinvigorating multilateralism.
Welcoming the African Union
The Group of 20, representing a remarkable 85 percent of the world's GDP, greeted the African Union with open arms as it officially became its newest member.
The African Union joined its ranks, boasting 55 members (excluding six junta-ruled nations), encompasses a combined GDP of $3 trillion and a population of 1.4 billion people.
The Modern Spice Route
A diverse coalition, comprising the United States and Saudi Arabia, has unveiled an ambitious vision to create a contemporary Spice Route, connecting Europe, the Middle East, and India.
This groundbreaking initiative entails the development of a comprehensive infrastructure network encompassing railways, ports, electricity grids, data networks, and hydrogen pipelines, serving as an alternative to China's substantial infrastructure investments globally.
Handing over the Presidency
Prime Minister Narendra Modi handed over the gavel, symbolic of the G20 Presidency, to Brazilian President Luiz Inácio Lula da and the top Priorities for the new president would be social inclusion and fight against hunger and energy transition and sustainable development.
President Lula da Silva added that two task forces: 1) Global Alliance against - Hunger and Poverty, and 2) Global Mobilisation against Climate Change, will be created to work towards these priorities.
Other Important Decisions
PM Modi launched the Global Biofuels Alliance in the presence of President Biden, Luca de Silva, Alberto Fernandez and Italian PM Giorgia Meloni.
A consensus was achieved that the new G21 will be working towards establishing a fair and modern international tax system which is in accordance of needs of 21st century.
Bottomline
With the adoption of the G20 New Delhi Leader’s Declaration and the induction of the African Union as a permanent member, India’s G20 presidency has been acknowledged as the most productive and ambitious in the group’s 24-year history.
In its presidential tenure India recorded a total of 112 outcomes and documents, which is more than double the outcomes witnessed during the Bali G20 Summit.
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