G20 in India
News Kashmir Analysis
The G20 is composed of most of the world’s largest economies’ finance ministries, including both industrialised and developing countries; it accounts for around 80% of gross world product (GWP), 75% of international trade, two-thirds of the global population, and 60% of the world’s land area.
Leaders from the most powerful nations in the world flocked to New Delhi for the G20 Heads of State and Government Summit held on September 9-10.
It has been seen as the rise of India as a global leader .
The culmination of India’s year-long presidency of the G20, the summit envisages to be concluded with the adoption of a G20 Leaders’ Declaration, which will state the participating leaders’ commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.
The summit was held at the International Exhibition-cum-Convention Centre (IECC) complex, also known as Bharat Mandapam, in New Delhi’s Pragati Maidan. Prime Minister Narendra Modi inaugurated this complex on July 26 this year. It boasts state-of-the-art facilities, including a convention centre, exhibition halls, and an amphitheatre.
As a matter of fact, As of 2023, there are 20 members in the group: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. Guest invitees include, amongst others, Spain, the United Nations, the World Bank, the African Union and ASEAN.
United States President Joe Biden on Friday said that he is headed for India to hold discussions with other G20 leaders on several pressing world issues. Taking to his official X (formerly known as Twitter) account, Biden said that every time the G20 engages, it “gets better”.
“I’m headed to the G20 – the premier forum for international economic cooperation – focused on making progress on Americans’ priorities, delivering for developing nations, and showing our commitment to the G20 as a forum that can deliver. Every time we engage, we get better,” Joe Biden said.
As a matter of fact, The main agenda for the annual meeting of the G20 countries in Delhi includes climate change, economic development and debt burdens in low-income countries as well as inflation including food and fertilizers. On each of these issues, there are deep divisions among the participants with the Russia-Ukraine war causing a major schism between Russia and China at one end and the Western Block on the other.
The holding of G20 summit 2023 in India is a big achievement for India.
