B Y: G R O U P 2
• The Group of Twenty (G20)
What is G20?
is the premier forum for
international economic
cooperation. It plays an
important role in shaping
and strengthening global
architecture and
governance on all major
international economic
issues.
India holds the Presidency of
the G20 from 1 December
2022 to 30 November 2023.
Source: G20.org
9/30/2023
2
Purpose of G20
The G20 initially focused largely
on broad macroeconomic issues,
but it has since expanded its
agenda to inter-alia include
trade, sustainable development,
health, agriculture, energy,
Purpose
of
G20
environment, climate change,
and anti-corruption.
9/30/2023
Source: G20.org
3
G20 2023
•
The 2023 G20 New Delhi summit was
the eighteenth meeting of G20 (Group
of Twenty). It was held in Bharat
Mandapam International ExhibitionConvention Centre, Pragati
Maidan, New Delhi on 9–10 September
2023. It was the first G20 summit held
in India. Leaders of the world's biggest
economies begin a two-day G20
summit on Saturday in India's capital
Source: G20.org
of New Delhi.
9/30/2023
Source: easterneye
4
Source: G20.org
Source: G20.org
Key outcomes of the G20 Summit 2023
• Prime Minister Narendra
Modi’s diplomatic coup.
- At the Summit, India was
able to leverage its
economic significance to
garner support from all
G20 member nations for a
Leaders’ Declaration
recognizing the conflict in
Ukraine without
specifying any aggressor.
Source: Harshwardhan Sharma
India Briefing
Key outcomes of the G20 Summit 2023
• G20 New Delhi
Declaration
-
All 83 paragraphs of the 2023
G20 New Delhi Leaders’
Declaration were unanimously
approved, achieving a
remarkable 100 percent
consensus, even with China
and Russia in agreement.
Notably, this declaration stood
out by containing no footnotes
or Chair’s Summary, marking a
historic moment.
.
Source: Harshwardhan Sharma
India Briefing
Key outcomes of the G20 Summit 2023
• African Union accepted
as part of the G20
- At the Delhi Summit of
the G20, the African
Union, which represents
the 55 countries in the
African continent, was
given full membership,
like how the EU is
represented.
Source: Harshwardhan Sharma
India Briefing
Key outcomes of the G20 Summit 2023
• India – Middle East –
Europe Economic
Corridor (IMEC)
-
IMEC is envisioned as a
network of transportation
routes encompassing
railways and sea lanes.
Its primary objective is to
promote economic
development by fostering
integration between Asia,
the Arabian Gulf, and
Europe. Source: Harshwardhan Sharma
India Briefing
Key outcomes of the G20 Summit 2023
• Climate action
-
Leaders at the G20
Summit did not reach a
consensus on the phaseout of fossil fuels, despite
a United Nations report
categorizing this phaseout as “indispensable” for
achieving net-zero
emissions.
Source: Harshwardhan Sharma
India Briefing
G20 2023 and its effect on Business in a Global
Context
India was successfully able to achieve consensus around the
New Delhi Declaration early 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.
The G20 summit is important for the world because it includes more than 75% of global trade,
around 85% of global gross domestic product and two-thirds of the world population. - G20
Organization
Source: Harshwardhan Sharma
India Briefing & g20.org
Sources:
• G20.org
• Harshwardhan
Sharma - India
Briefing
9/30/2023
13
Group 2:
• Jaswinder Kaur
• Kimberly Valeza
• Komal Sharma
• Khushleen Kaur
• Harshita Nagpal
9/30/2023
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