Addressing the World’s Most Crucial Issues: G20 Summit Sets Stage for Global Leaders’ Deliberations

G20 Summit

New Delhi will become the focal point of the global geopolitical landscape on Saturday, as Prime Minister Narendra Modi, US President Joe Biden and other top political figures within some of the world’s wealthiest economies convene for the G20 Summit. In hosting this momentous event for the first time, India is striving to achieve tangible results from discussions concerning climate transition financing, digital public infrastructure, accelerated implementation of sustainable development goals, cryptocurrency regulation and reform of international finance organisations.

The majority of Indian G20 priorities aimed to benefit developing countries or the Global South. Most of New Delhi’s proposals are expected to be endorsed by the top leadership of the grouping, according to Indian negotiators involved in drafting the leaders’ declaration.

A number of leaders are expected to attend the summit, including German Chancellor Olaf Scholz, French President Emmanuel Macron, British Prime Minister Rishi Sunak, Turkish President Recep Tayyip Erdoğan, Canadian Prime Minister Justin Trudeau, his Italian counterpart Giorgia Meloni, South Korean President Yoon Suk Yeol and Brazilian President Luiz Inacio Lula da Silva.

The G20 summit will not be attended by Chinese President Xi Jinping and Russian President Vladimir Putin.

Many world leaders are attending the two-day summit at the Bharat Mandapam in the heart of the national capital, including the United Nations, International Monetary Fund, World Bank, World Health Organization and African Union.

Currently, India holds the G20 presidency, which rotates among its members annually.

In his conversations with Modi last night, US President Biden praised India’s presidency for demonstrating how the G20 is delivering results.

In view of the sharp differences between the West and the Russia-China combine on the text to describe the Ukraine conflict in the document, the summit’s biggest question is whether it will succeed in bringing out a joint leaders’ declaration.

It will be a first for the grouping if the summit ends without a joint declaration.

According to multiple sources, China has emerged as the main stumbling block in reaching a consensus on the Ukraine conflict, as well as other proposals, such as climate change. Russia has never been able to reach a consensus on Ukraine.

Consensus governs the G20

Despite agreeing to the two paragraphs on the Ukraine conflict in the Bali declaration, Russia and China backed out this year.

Due to Russian and Chinese opposition to any text mentioning the Ukraine conflict, almost all meetings under India’s G20 presidency failed to produce consensus documents.

Amitabh Kant, India’s G20 sherpa, said on Friday that the New Delhi Leaders’ Declaration will reflect the voices of developing countries.

As the New Delhi Leaders’ Declaration is almost ready, I don’t want to dwell on it, as it will be recommended to the leaders during the summit and then they will accept it, and it will only be possible to discuss its actual achievements after the declaration has been accepted by the leaders,” he said.

The G20 Summit will address reshaping international debt architecture, lending to developing nations, and regulating cryptocurrency and artificial intelligence.

In her capacity as G20 president, India has focused on issues such as inclusive growth, digital innovation, climate resilience, and equitable access to global health.

In leveraging its presidency, India is fostering collaborative solutions not only for its own people, but also for the greater global good, reinforcing its spirit of ‘Vasudhaiva Kutumbakam’ (one family, one world).

The summit will also be attended by leaders from Bangladesh, Egypt, Mauritius, the United Arab Emirates, Spain, Singapore, Oman, Nigeria, and the Netherlands.

Around 200 meetings related to the G20 were held across India after India assumed the presidency of the bloc on December 1.

About two-thirds of the world’s population reside in G20 member countries, which account for around 85 percent of the global GDP, over 75 percent of the global trade, and over 75 percent of the global trade.

Group members include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).

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I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.

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