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.
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