G20 New Delhi Summit: Top 10 Key Takeaways from one of the biggest geopolitical events in Indian history

G20 Summit 2023: On September 10th, India marked a historic milestone by successfully concluding the G20 Summit. This achievement places India among the select nations that have hosted such a significant geopolitical event, signifying a pivotal moment in Indian history. Various leaders from across the globe gathered to address crucial matters concerning Green industries, Globalization, and Economic Stability. As the G20 summit drew to a close, Prime Minister Narendra Modi symbolically passed the presidency to Brazil's Lula. Earlier in the day, PM Modi expressed satisfaction with the productive discussions held at the summit, aiming for a better planet.

Top 10 Key Takeaways from the G20 New Delhi Summit

• Induction of Africa: With the addition of the African Union as a new permanent member of the G20, a new global order is being promoted, offering developing countries more support.
• Rail linkings: A vast network of rail and marine connections has been announced, connecting the US, India, Saudi Arabia, Gulf Arab countries, and the EU.
• Sustainable development: The 'G20 High-Level Voluntary Principles on Hydrogen' were endorsed with the aim of creating a sustainable and fair global hydrogen ecosystem that serves the interests of all countries.
• Delhi Declaration: The Delhi Declaration, supported by China and Russia, urges nations to respect international law, including territorial integrity, sovereignty, humanitarian law, and the multilateral system to restore peace and stability.
• Green Climate Fund: The declaration emphasised the need to maximise the impact of concessional resources, such as those from global climate funds. Additionally, it called for the Green Climate Fund to get an ambitious second replenishment between 2024 and 2027.
• Russia-Ukraine war: Russia welcomed the G20 consensus declaration for its balanced approach, without direct criticism of Moscow regarding the Ukraine conflict.
• Fuels: The Global Biofuel Alliance was established by PM Modi to promote the use of cleaner fuels.
• Land degradation: As promised under the G20 Global Land Initiative, the G20 declared its intention to minimize land degradation by 50% by 2040.
• G20 discussions: Other aspects covered during the G20 discussions are: the upcoming India - EU Summit, challenges about a Free Trade Agreement, climate change initiatives like LiFE, digital technology advancements, and the Trade and Technology Council.
• Relations with South Korea: According to PM Modi, the discussions with the president of South Korea have strengthened connections between the two countries in a number of areas, including trade, commerce, and people-to-people contacts.