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Key Outcomes of the 2023 G20 Summit in India: African Union now member of the G20

Key Points:

  1. India's Historic Hostship: The 18th G20 Summit was held in New Delhi, marking India's first-ever hosting of the G20. The summit's theme, "Vasudhaiva Kutumbakam," emphasized sustainable development.
  2. 100% Consensus: The G20 New Delhi Declaration, containing 83 paragraphs, achieved a rare 100% consensus, even with the participation of China and Russia.
  3. Finance Track Achievements: The declaration addressed multilateral development banks, cryptocurrency regulation, and digital public infrastructure to enhance financial inclusion. It also emphasized the urgency of climate funding and transitioning to clean energy technologies.
  4. African Union Membership: The African Union was granted full membership in the G20, aligning India's position with the Global South's interests.
  5. India – Middle East – Europe Economic Corridor (IMEC): An MoU was signed to establish the IMEC, a transportation network aimed at promoting economic development by connecting Asia, the Arabian Gulf, and Europe.
  6. Bilateral Meetings:Prime Minister Modi engaged in bilateral meetings with world leaders, addressing various issues of mutual interest.
  7. Global Unity and Prosperity: The summit highlighted India's role in promoting global unity and prosperity, especially in the context of the changing world dynamics.
  8. Operational Structure of the G20:The G20 operates through three main tracks: the Finance Track, Sherpa Track, and Engagement Groups, addressing a wide range of global economic and social issues.

The G20 Summit in India showcased the country's diplomatic achievements, emphasized consensus on critical global matters, and set the stage for addressing key challenges and opportunities on a global scale.