Russian Foreign Minister Sergey Lavrov has thanked India for preventing attempts to politicize the G20 Summit. Lavrov stated that India’s active role as president has consolidated the G20 countries from the Global South for the first time in history. He also noted that the BRICS partners – Brazil, Russia, India, China, and South Africa – have been particularly active in upholding and protecting their legitimate interests. However, Ukraine has criticized the New Delhi Declaration for not mentioning Russia.
India's G20 Sherpa, Amitabh Kant, has described his counterparts from various countries as the toughest and most professional negotiators in the world. He said that preparing for the G20 summit in New Delhi gave him sleepless nights. The Indian team held over 200 hours of non-stop negotiations and 300 bilateral meetings to deliver a consensus on the G20 declaration, which was adopted by world leaders at the summit. The declaration called on all states to uphold the principles of international law, including territorial integrity and sovereignty.
PM Narendra Modi closed G20 Summit in India. Shah Rukh Khan tweeted for the PM.
Brazilian President Luiz Inacio Lula da Silva has outlined three key priorities for Brazil's presidency of the G20: social inclusion and the fight against hunger, energy transition and sustainable development, and reform of global governance institutions. President Lula also called for greater participation of emerging economies in decision-making processes and for action on the foreign debts of poor countries. He visited the Raj Ghat in India, paying homage to Mahatma Gandhi and drawing parallels between his own work and Gandhi's non-violent struggle.
- Accelerated Growth
- Green Development
- Women-led Development
4th Sherpa Meeting
Finance Deputies Meeting
Joint Sherpas and Finance Deputies Meeting
4th Sustainable Finance Working Group Meeting
4th Meeting for the Global Partnership for Financial Inclusion
4th Framework Working Group Meeting
The G20, or Group of Twenty, is a forum consisting of 19 countries and the European Union. It is an international platform established to promote cooperation and dialogue among the world's most powerful economies. The member countries of the G20 account for two-thirds of the world's population and 85 per cent of the global GDP.
Inception of G20
The G20 was first established in 1999, and since then, it has become one of the most important platforms for international cooperation on global economic and financial issues. Over the years, the G20 has expanded its areas of focus to include issues like climate change, energy policies, and the fight against terrorism.
The G20 presidency plays a crucial role in formulating the collective goals and priorities of the organisation, in consultation with its members and in response to economic trends and challenges at the global level. The G20 presidency steers the G20 agenda for one year. India holds the presidency of the G20 from Dec 1, 2022 to Nov 30, 2023. The presidency theme is 'Vasudhaiva Kutumbakam', which means 'One Earth One Family One Future'.
While the G20 does not have any legal or binding powers, its recommendations and decisions usually carry a strong influence on global economic policy. One of the key strengths of the G20 is its ability to bring together leaders from both developed and developing countries to work towards a common goal. The forum has also been instrumental in coordinating responses to global economic crises, such as the 2008 financial crisis.
Despite its successes, the G20 also faces criticism for its lack of inclusivity, and it has been argued that the interests of developing countries are not always adequately represented. Nevertheless, the G20 remains an important platform for international cooperation on global economic issues.