G20 Summit 2023 Highlights, PM Modi Announces Conclusions

Purpose of G20 Summit

The G20 summit is an informal gathering of the world’s largest economic countries and its presidencies that is held annually to discuss economic issues, global policy on trade, health, climate, agriculture, energy, environment, anti-corruption and other issues. The Group of 20 countries is G20 which comprises 19 countries and the European Union. This year, India takes the lead at the summit in bringing the African Union to the global table, so from now on G20 will be G21 officially. In addition to membership of these countries, there are also other forums or institutes participating in the meeting, namely, IMF, the World Bank, the International Monetary and Financial Committee and the Development Assistance Committee.

G20 was formed in the year 1999, comprising nineteen countries namely Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom (UK), and the United States. Spain is invited as a permanent guest. The forum is held annually under the leadership of a rotating presidency. India hosted the G20 Summit 2023 in New Delhi’s Pragati Maidan. This year, our PM Narendra Modi derived many productive conclusions which are detailed below. At the end of the Summit, our country passed the presidency to Brazil.

India’s G20 Leadership and the Rise of Diplomacy

In Indian history, its presidency in G20 2023 is unique and most ambitious as it has favourably rendered about 112 productive outcomes and documents covering a wide range of sectors and topics. The presidency was driven by three pillars which are People, Planet and Prosperity. The presidency of India in the G20 forum focussed on principles such as innovations, sustainability and resilience. The country demonstrated its leadership in the ability to withstand global crises and recuperate under complexities. Thus the summit served as a testament to India as an emerging stakeholder in addressing global challenges and opportunities.

Conclusions and Highlights of the G20 Forum

The leaders of different countries have arrived at a consensus in New Delhi on various issues and topics. India has also taken the lead in bringing the African Union to take its seat as a new member in the G20 summit. Some of the conclusions derived are described below:

1. Promoting international economic cooperation through global partnership.
2. Accelerating strong, sustainable, balanced and inclusive growth.
3. Promoting the full and effective implementation of the 2030 Agenda for sustainable development.
4. Improving access to medical countermeasures and facilitating more supplies and production capacities in developing countries to prepare better for future health emergencies.
5. Promoting resilient and sustainable growth by urgently and effectively addressing debt vulnerabilities in developing countries.

Sharing is caring!