The G20 trade and investment ministers meeting concluded without a joint communique, but members agreed to enhance global value chain resilience and address the challenges posed by the pandemic and trade disruptions. However, there was disagreement over the inclusion of content related to the Ukraine conflict and its impact on the global economy. Nonetheless, the leaders achieved consensus on various deliverables focused on digitalization of trade documents and supporting micro, small, and midsize enterprises. Furthermore, a generic mapping framework for global value chains was endorsed. The ministers also discussed narrowing down realistic deliverables for agreement at the WTO's Ministerial Conference in 2024.
India's G20 presidency has shaped its global future and brought the country to the forefront of the international stage, with discussions at the NDTV G20 Conclave focusing on energy transition, clean growth, digital economy, and India's rising global influence.
US Treasury Secretary Janet Yellen will attend the G20 leaders summit in New Delhi to focus on strengthening the global economy, supporting low- and middle-income countries, and building momentum for financing developing countries' clean energy transitions. She will also rally G20 allies to maintain economic support for Ukraine and deepen bilateral ties with India.
President Biden aims to use the G20 summit as an opportunity to strengthen the U.S.'s position as the leader of the global system, boost funding for the World Bank, and counterbalance China's Belt and Road Initiative; meanwhile, a potential strike looms for General Motors and Ford, and the Federal Reserve plans to maintain interest rates while addressing inflation concerns.
Global leaders at the G-20 summit will issue a warning about the state of the global economy, noting the impact of multiple crises and the likelihood of a downturn.
The Group of 20 (G20) is an international organization that aims to unite world leaders around shared economic, political, and health challenges, with its members representing more than 80 percent of the world's economic output. The annual G20 summit brings together finance ministers and heads of state to discuss and address key issues, often culminating in a joint statement of collective action.
UK Prime Minister Rishi Sunak believes that the G20 leaders can address the enormous challenges facing the world and provide leadership, as he attends the summit in Delhi alongside Prime Minister Narendra Modi, who emphasized India's inclusive approach to the G20 presidency and proposed granting the African Union permanent membership.
Prime Minister Narendra Modi urged world leaders at the G20 Summit to overcome the "trust deficit" caused by war and emphasized the importance of finding new solutions to global challenges during his opening address. Additionally, he announced that the African Union has been granted permanent membership in the G20.
The G20 reached a consensus and adopted the New Delhi Leaders Summit Declaration, which called for upholding international law, peaceful conflict resolution, and diplomacy.
UN Secretary-General Antonio Guterres called for strong action on climate change and sustainable development goals at the G20 summit, highlighting the need for unity and deep structural reforms to address global challenges.
The G20 summit is set to feature strongmen leaders with human rights concerns, such as Mohammed bin Salman and Recep Tayyip Erdoğan, reflecting a recognition that involving these countries is necessary for addressing issues like the Ukraine war and achieving consensus on global agreements.
Global leaders have announced a multinational rail and ports deal at the G20 summit in New Delhi, aiming to connect the Middle East and South Asia and provide an alternative to China's Belt and Road initiative.
G20 leaders have adopted a green development pact to address the challenges of environment and climate change, emphasizing the pursuit of sustainable economic growth and development.
G20 leaders have arrived in Delhi, India for the annual summit, where they will discuss global issues such as inclusive growth, digital innovation, and climate resilience.
The African Union's membership in the G20 will provide an opportunity for the continent to make a significant contribution to addressing global challenges, according to AU Commission head Moussa Faki Mahamat.
US President Joe Biden stated that the G20 Summit demonstrated the ability to address urgent global issues, including the climate crisis and economic stability, through collaborative solutions.
Indian Prime Minister Narendra Modi called for global reforms and urged world leaders at the G20 summit to make global structures, including the UN Security Council, reflective of current realities and emphasized the need for India's permanent membership at the UNSC.
Leaders of the G20 summit in India overcame divisions on the Ukraine war and admitted the African Union to the bloc, while also announcing plans for a transport corridor and incremental progress on climate change.
The New Delhi Leaders’ Declaration highlights the commitment of the G20 countries to achieve global net zero emissions and triple renewable energy capacity by 2030, while also recognizing the principles of common but differentiated responsibilities and different national circumstances.
The G20 leaders have made a commitment to accelerate reforms of multilateral development banks (MDBs) in order to address global challenges and maximize developmental impact, with a focus on the needs of low- and middle-income countries. India, as the outgoing G20 President, has emphasized the need for MDBs to be more sensitive to the changing developmental needs of the 21st century, particularly in relation to climate change. A panel of experts has been set up to craft these reforms, which include tripling sustainable lending levels by 2030 and creating new funding mechanisms. The G20 has also called for ambitious implementation of a roadmap on the capital adequacy framework of MDBs, which could unlock $200 billion worth of extra funding potential.
The G20 summit in India is expected to deliver a group agreement on the need for stricter global regulation on crypto assets, but the underlying fractures and shifting allegiances may render the focus more noise than substance.
The leaders of the G20 nations have agreed to provide global tax authorities with more transparency on cryptocurrency transactions, indicating a growing global cooperation on cryptocurrency, even though implementation may take several years.
