The recent G20 Summit at New Delhi has garnered global acclaim as India, under the leadership of Prime Minister Modi, achieved a significant diplomatic victory. While the Summit’s highlight was a declaration that refrained from condemning Russia for its Ukraine invasion, it also marked the beginning of several initiatives aimed at fostering stronger relationships between G20 nations and the newly included African Union.
New Delhi declaration
External Affairs Minister S. Jaishankar proudly announced that the New Delhi Declaration showcased India’s ability to present ideas, address global issues, bridge differences, and reach consensus. He emphasized India’s commitment to the Global South and the promotion of its rich cultural heritage alongside contemporary achievements.
• Green Development for a Sustainable Future
One of the major outcomes of the Summit is the Green Development Pact. This pact envisions a sustainable future and promotes high-level principles for lifestyles that support sustainable development. It also advocates voluntary principles for hydrogen use, endorses the Chennai principles for a sustainable blue economy, and highlights the Deccan principles concerning food security and nutrition, among other crucial aspects.
• India-Middle East-Europe Economic Corridor
A significant announcement during the Summit was the ambitious India-Middle East-Europe Economic Corridor. This project, jointly introduced by the leaders of the United States, India, and several other nations, is seen as an alternative to China’s Belt and Road Initiative. It aims to enhance economic development by improving connectivity and economic integration between Asia, the Arabian Gulf, and Europe.
• Digital Public Infrastructure and Multilateral Development Bank Reforms
Another key development is the emphasis on digital public infrastructure during India’s G20 presidency. This includes the introduction of a central bank’s digital currency. Additionally, the Summit focused on reforms for Multilateral Development Banks (MDBs), aimed at enabling them to use their existing resources more effectively.
• Africa’s Inclusion in G20
One of India’s most significant diplomatic achievements was the inclusion of the African Union, effectively transforming the G20 into the G21. This move has been welcomed by African leaders and is seen as a step towards reforming global and multilateral institutions. It opens up opportunities for the resource-rich African continent to advance its global agenda.
• Global Biofuel Alliance and Renewable Energy
In a bid to promote sustainable energy practices, G20 members agreed to phase out unabated coal power, increase investments in renewables, and double targets for energy efficiency by 2030. Prime Minister Modi also announced the launch of the Global Biofuel Alliance, urging G20 nations to embrace ethanol blending with petrol globally at a rate of 20 percent.
The G20 Summit marked a diplomatic success for India, with key initiatives that promise to shape the global landscape for years to come. From sustainable development to economic corridors and digital innovation, India showcased its leadership on the world stage.
