New Delhi, 11 September, 2023 (GNP): The 2023 G20 summit concluded in New Delhi with leaders from the world’s 20 major economies achieving significant consensus and taking substantial steps on various global issues. Here are the key takeaways:
Softer stance on Ukraine war
In a diplomatic move, the G20 nations expressed their agreement that states should not acquire territory through force and acknowledged the suffering of the Ukrainian people. However, the declaration refrained from directly criticizing Russia for its role in the conflict. But the commitment to avoiding territorial expansion by force was seen as a success.
African Union membership
The G20 formally admitted the 55-member African Union (AU) as a permanent member, elevating it to the status of the European Union (EU). This move aims to enhance representation within the group and grant a stronger voice to the Global South. Until now, only South Africa was a G20 member from the African continent.
Transport corridor initiative
Leaders from the United States, India, Saudi Arabia, and others revealed plans for establishing rail and port connections between the Middle East, South Asia, and eventually Europe. This ambitious infrastructure project aims to provide an alternative to China’s Belt and Road Initiative, signaling U.S. efforts to engage as an investment partner in the developing world.
Climate change commitments
The G20 leaders pledged to triple global renewable energy capacity by 2030 and acknowledged the necessity of phasing out unabated coal power. While this marks progress, no specific climate targets were set, and there was no detailed plan for achieving these goals. The G20 recognized the need for $4 trillion annually to support a green energy transition but did not outline a clear pathway.
India’s diplomatic showcase
Indian Prime Minister Narendra Modi utilized the G20 presidency to showcase India as a major diplomatic and economic force on the global stage. This event provided an opportunity to boost investment and trade in India while bolstering Modi’s political standing domestically as he seeks re-election.
Great meeting with @EU_Commission President @vonderleyen and @eucopresident @CharlesMichel. Subjects such as improved connectivity, trade and technology featured prominently in our discussions. India-EU cooperation in futuristic sectors including green hydrogen is very laudatory. pic.twitter.com/ZimofZG7lZ
— Narendra Modi (@narendramodi) September 10, 2023
Prime Minister Narendra Modi announced the consensus reached by G20 leaders in the New Delhi as G20 Leaders Declaration, demonstrating unity in addressing pressing global challenges.