G20 Summit 2023 Outcomes

 

G20 Summit 2023 Outcomes

There are many positive outcomes of the G20 Summit New Delhi and we have mentioned each of them below.

  • Firstly, Africa Joined the G20 Organization and became a member from this year.
  • Secondly, New Delhi Leaders Declaration has been signed by the country heads as per which Inclusive Growth will be emphasised. 
  • Thirdly, India-Middle East-Europe-USA Corridor has been proposed and passed by the leaders of these countries. 
  • Fourthly, Global Biofuel Alliance has been created by the member countries which will emphasise on the maximum use of Biofuel.

Opportunities for India in G20 

 One of the significant outcomes of the G20 is 'India-Middle East-Europe Economic Corridor'. A cost-effective cross-border ship-to-rail transit network will connect India to the Arab countries, the EU and the US. This could translate into trade and investment opportunities for Indian businesses.

India has a comparative advantage and has the potential to unlock exponential global GDP growth far greater than the benefits of freer trade in goods. The 2030 Agenda for Sustainable Development establishes a bold, revolutionary, and global framework for sustainable development activities.

Fast-tracking negotiations for free trade agreement, ease of doing business, development of modern infrastructure, skilled manpower, large population with growing income are some of the positives which help India to enhance trade realisations with these member countries. The G20 has 43 members and not 20 countries.


India’s G20 Presidency: An Opportunity to Steer the World Toward Inclusive and Sustainable Growth



KEY TAKEAWAYS

  •  India’s theme for its G20 Presidency, “Vasudhaiva Kutumbakam” (One Earth - One Family - One Future) is aiming to build unanimity to address global challenges collectively and effectively.
  •  As a leading development partner of India, ADB is supporting India’s G20 Presidency on its key priorities: supporting cities as engines of economic growth, clean energy transition, and shaping a global health agenda.
  •  India has an important opportunity during its G20 Presidency to establish a legacy of success across these critical challenges and it has friends that it can rely on for support.


Konark Wheel becomes centre of attraction at G-20 summit venue.

Prime Minister Narendra Modi chose a wall depicting the historic Konark Wheel of Odisha’s Sun Temple as the backdrop for his welcome handshake with world leaders at the G20 Summit venue


PM Modi was seen explaining the historic significance of the Konark Wheel to world leaders like American president Joe Biden at the G20 venue in Delhi on Saturday. The historic Konark Wheel of Odisha’s Sun Temple became a centre of attraction at the G20 Summit venue on Saturday as Prime Minister Narendra Modi chose a wall depicting the 13th century artefact as the backdrop for his welcome handshake with world leaders at the Bharat Mandapam in Delhi.














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