G20 Summit 2023: India Leads the Way in Global Governance and Connectivity

The G20 Summit 2023, hosted by India in New Delhi on September 9-10, was a historic event that showcased the country’s global leadership and diplomatic prowess. The summit brought together the leaders of the world’s 20 major economies, along with guest nations and international organizations, to discuss and decide on various issues of global importance, such as economic growth, climate change, health, trade, digital transformation, and multilateralism.

Outcomes of G20 Summit 2023

The summit was a resounding success for India, as it achieved several objectives and outcomes that reflected its vision and priorities for the world. Here are some of the key highlights and achievements of the G20 Summit 2023:

• The New Delhi Declaration: The summit adopted the New Delhi Declaration, a comprehensive document that outlines the commitments and actions of the G20 members on various aspects of global governance and cooperation. The declaration was adopted with 100% consensus, a rare feat in the G20 history, thanks to India’s skillful diplomacy and consensus-building. The declaration covers a wide range of topics, such as:
  • Strengthening the global recovery from the COVID-19 pandemic and ensuring equitable access to vaccines and health care for all.
  
  
  • Enhancing the resilience and sustainability of the global economy and financial system, and promoting inclusive growth and development.
  
  
  • Addressing the urgent challenge of climate change and environmental degradation, and supporting the implementation of the Paris Agreement and the 2030 Agenda for Sustainable Development.
  
  
  • Boosting trade and investment flows, and reforming the World Trade Organization (WTO) to make it more responsive and effective.
  
  
  • Leveraging the potential of digital technologies and innovation for social and economic benefits, and ensuring digital security and inclusion.
  
  
  • Fostering multilateralism and dialogue among different regions and cultures, and respecting international law and sovereignty.
  
  
  • Combating terrorism, extremism, cybercrime, corruption, money laundering, and other threats to peace and security.
  
  
  • Enhancing cooperation on education, culture, tourism, sports, youth, women, and other areas of human development.
  
  
• The G20 Global Partnership for Financial Inclusion: The summit endorsed the G20 Global Partnership for Financial Inclusion (GPFI) document prepared by the World Bank, which lauded the transformative impact of Digital Public Infrastructure (DPIs) in India. The document highlighted how India has achieved in six years what would have otherwise taken five decades in terms of financial inclusion and digital empowerment of its citizens. The document also praised India’s initiatives such as Aadhaar (the world’s largest biometric identification system), UPI (the world’s largest real-time payment system), GSTN (the world’s largest tax network), DigiLocker (the world’s largest digital locker system), e-RUPI (the world’s first digital voucher system), among others. The document urged other countries to learn from India’s experience and adopt similar DPIs to enhance their financial inclusion and digital transformation.
  
• The G20 Action Plan on Climate Change: The summit agreed on an ambitious action plan on climate change that aims to limit the global temperature rise to 1.5 degrees Celsius above pre-industrial levels by 2100. The action plan includes:
  • Raising the nationally determined contributions (NDCs) of each country under the Paris Agreement by 2025.
  
  
  • Phasing out coal-fired power plants by 2030 in developed countries and by 2040 in developing countries.
  
  
  • Ending fossil fuel subsidies by 2025.Mobilizing $100 billion per year by 2025 to support developing countries in their climate actions.
  
  
  • Increasing the share of renewable energy in the global energy mix to at least 50% by 2030.
  
  
  • Enhancing adaptation and resilience to climate impacts.
  
  
• The G20 Support for UNSC Reform: The summit expressed strong support for reforming the United Nations Security Council (UNSC) to make it more representative, democratic, transparent, and effective. The summit recognized India’s legitimate claim for a permanent seat in the UNSC, along with other emerging powers such as Brazil, Germany, Japan.

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Last modified: September 15, 2023