G-20 Summit in India

G-20 Summit in India

Main Examination: General Studies Paper-2

(International Organizations and Agreements)

September 14, 2023

Why in News:

  • This summit was organized in New Delhi on 9-10 September 2023 under the theme 'Vasudhaiva Kutumbakam'.
  • The following countries participated in this G-20 summit held at the newly constructed ‘Bharat Mandapam International Exhibition-Conference Center (IECC)’ complex:
  • Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, South Korea, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, European Union

G-20 Group:

  • The G-20 grouping is a top forum for worldwide economic cooperation, whose members represent approximately 75% of global trade, 85% of global GDP and almost two-thirds of the world's population.

Theme:

  • The theme of the 18th G-20 Summit is “Vasudhaiva Kutumbakam: One Earth-One Family-One Future”.
  • It means 'the whole world or universe is one. It is taken from the ancient Sanskrit text of Maha Upanishad.
  • One Earth: Make the planet healthy by encouraging sustainable and eco-friendly lifestyle based on Indian traditions.
  • One Family: Promoting harmony within the human family by depoliticizing relevant supply chains of food, fertilizers and medicines. This is done with the aim of preventing humanitarian crisis due to geopolitical tensions.
  • A Future: Encourage honest dialogue among the world's most powerful countries on the core issues of climate change and reducing the risks posed by weapons of mass destruction to enhance global security.
  • This theme affirms the value and inter-relationships of humans, animals, plants and microorganisms that inhabit the Earth and the universe.
  • G-20 Presidency Logo:
  • • The G-20 logo takes inspiration from the vibrant colors of the national flag of India – saffron, white and green and blue.
  • • It connects planet Earth with the national flower of India, the lotus, which represents growth amidst challenges.

India G-20 Presidency:

  • India took over the chairmanship of the G20 group on December 1, 2022, taking over from Indonesia.
  • As the world's largest democracy and fastest growing economy, India's G20 presidency will play an important role in building on the significant achievements of the last 17 presidents.
  • For India, the G20 Presidency also marks the beginning of the “Amrit Period”, a 25-year period starting from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence towards a futuristic, prosperous, inclusive leads to.
  • India's presidency is about human-centric globalization and is expected to have a massive impact on inter-governmental policy makings and discussions that will influence the new world order and set the global post-pandemic economic agenda.

Important points of G-20 Delhi Declaration:

  • It will seek to create a roadmap for “Multilateralism 2.0”. A targeted reform agenda should be initiated for the relevant frameworks of major multilateral institutions around the world such as the UN, WHO, WTO and ILO.
  • The Leaders' Declaration, adopted at the Summit in Bali, acknowledges the importance of upholding international law to maintain peace and stability.
  • It will strive to build an inclusive digital public infrastructure to ensure affordability and secure access for all.
  • The Finance Track will focus on key issues such as financing for infrastructure, financing for health care, financial sector policy changes and financing for sustainable development under eight working groups.
  • The Sherpa Group will focus on thirteen issues such as anti-corruption, agriculture, digital economy and climate change.
  • The initiative aims to empower women and accelerate their leadership in the private sector by leveraging collaboration between business leaders and G20 countries.
  • To enhance and strengthen research and innovation cooperation among G-20 member countries.

Positive outcomes of New Delhi G-20 summit:

  • African Union has been granted permanent membership in 18th G-20 group.
  • Now it will be called G-21 group.
  • The India-Middle East-Europe-USA corridor has been proposed and passed by the leaders of these countries.
  • Global Biofuel Alliance has been formed by the member countries which will emphasize on maximum use of biofuels.

Significance of India's G-20 Chairmanship:

  • India may get a chance to showcase its knowledge about women empowerment, democracy and digital technology during the Presidency.
  • India can show the rest of the world that when democracy is established in a society, the scope for conflict can be reduced. This is even more important in view of the ongoing conflict between Russia and Ukraine.
  • India's foreign policy gives priority to "the common good of the world". India intends to expand this approach through its G-20 leadership to find long-term answers to some of the key global issues arising as a result of the interconnectedness of the world, including climate change, new and developing technologies, food and energy security, etc. Could. During India's chairmanship, the G-20 troika will include India, Indonesia and Brazil.
  • For the first time, the Troika will be made up of three emerging economies and developing countries. It is envisaged that this will change the power dynamics of the G-20, benefiting emerging countries and giving them a greater stake in decision-making by this organization. India's presidency of the G-20 has a great opportunity to address the persistent issues plaguing developing countries, especially in the area of agriculture and food subsidies.

Significance of the 18th G-20 Summit:

  • India has a better opportunity to contribute to the global agenda on critical issues of global importance during its presidency of the G20.
  • Building global consensus on UN reform is the first step towards building a new international order for the post-COVID era.
  • This is his chance to assume the position of leader of the Global South. The importance of the G20 is growing in a world where there are urgent challenges such as climate change, the COVID-19 pandemic and the conflict in Ukraine.

Chairmanship of G-21 in 2024:

  • The upcoming nineteenth meeting of the G-21 will be held in Rio de Janeiro in 2024. That means Brazil will host the G-21 (predecessor G-20) in 2024, followed by South Africa in 2025.

                                          -----------------------------    

Main Exam Questions

  • The G-20 New Delhi Declaration is a consensus document for multilateral solutions, analyze critically.
  • Review the important issues related to the G-20 New Delhi Declaration.