WHAT ARE THE OUTCOMES OF G20 SUMMIT IN BHARAT 2023 ?

 The 18th G20 Summit of 2023 recently concluded in New Delhi, India, marking the first-ever G20 summit hosted by the country. 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.

India was successfully able to achieve consensus around the New Delhi Declaration early on in the G20 Summit, which saw a dilution in the position taken by the U.S. and EU on Russia, besides focus on UN Sustainable Development Goals, climate action and green development initiatives, multilateral financing, digital public infrastructure, artificial intelligence (AI), and international taxation, among others.

We discuss the key outcomes of the 2023 G20 Summit below.

1. SOFTER LANGUAGE ON UKRAINE WAR

G20 nations agreed that states cannot grab territory by force and highlighted the suffering of the people of Ukraine, but avoided direct criticism of Russia for the war. The declaration was seen as an apparent softening from the position that the G20 took last year when it condemned Russia for the war and demanded that it withdraw from Ukraine.

2. AFRICAN UNION INSIDE THE CLUB

The 55-member African Union was formally made permanent member of the G20, on par with the European Union, in order to make the grouping more representative. Until now only South Africa was a member of the G20. The entry of the AU would provide greater voice to the Global South within the G20 where the G7 countries have long played a dominant role

3. U.S., SAUDI, INDIA JOIN HANDS FOR TRANSPORT CORRIDOR

Leaders of the United States, India and Saudi Arabia among others announced plans to set up rail and ports links between the Middle East and South Asia and eventually to Europe which U.S. President Joe Biden said was a "real big deal."

The Biden administration is seeking to counter China's Belt and Road push on global infrastructure by pitching Washington as an alternative partner and investor for developing countries at the G20 grouping.

4. INCREMENTAL PROGRESS ON CLIMATE CHANGE

The G20 leaders agreed to pursue tripling renewable energy capacity globally by 2030 and accepted the need to phase-down unabated coal power, but stopped short of setting major climate goals.

The group did not provide any plan to amend existing policies and targets in order to achieve the target of ramping of renewables. It also said $4 trillion a year would be needed to pay for a green energy transition but did not lay out any pathway to it.

5. MODI BOOSTS STANDING AS INDIA'S BIG MOMENT ARRIVES

For Indian Prime Minister Narendra Modi, the leadership of the G20 has been a year-long opportunity to showcase India as an influential diplomatic and economic power, and drive investment and trade flows into the world's most populous country.

 JAI HIND 

JAI BHARAT