New Delhi Declaration

As the curtains fell on the G20 Summit Sunday, the consensus arrived in the G20 New Delhi Leaders’ Declaration set the stage for the diplomatic and political conversation on the Russia-Ukraine conflict with a hope — across the spectrum — that the text is expected to set the tone for any negotiations between the two warring sides: the West-led G7 grouping that is backing Ukraine, and Russia, which has Beijing’s support in the form of a no-limits friendship.

Overview - G20 Delhi Declaration:

G20 Delhi Declaration is essential in determining the course the world takes. Years of cascading challenges and crises have reversed gains in the 2030 Agenda and its Sustainable Development Goals (SDGs).

Global greenhouse gas (GHG) emissions continue to increase, with climate change, biodiversity loss, pollution, drought, land degradation and desertification threatening lives and livelihoods. Rising commodity prices, including food and energy prices are contributing to cost of living pressures.

Global challenges like poverty and inequality, climate change, pandemics and conflicts disproportionately affect women and children, and the most vulnerable.

G20 Summit 2023 - Chaired by PM Shri Narendra Modi

G20 Summit Theme - Vasudhaiva Kutumbakam: One Earth, One Family, One Future.

New Delhi Declaration a historic and path-breaking was adopted with 100% consensus on all developmental and geopolitical issues.

The reference to geopolitics is especially important given the backdrop of the Russia-Ukraine conflict.

The declaration noted with deep concern the immense human suffering and the adverse impact of wars and conflicts around the world.

The declaration also saw the mention ofMission LiFE (Lifestyle for Environment), a global plan of action that aims to save the planet from the disastrous consequences of climate change.

Indian PM urged to urgently accelerate the actions to address development and climate challenges, promote Lifestyles for Sustainable Development (LiFE), and conserve biodiversity, forests and oceans,”.

Prime Minister of India handed over the customary gavel of the G20 chair to Brazilian President Luiz Inacio Lula da Silva, who will officially take over the presidency on December 1, 2023.

Key takeaways:

Admittance of the African Union (G20 now G21):

The G20 leaders agreed to admit the African Union as a permanent member of the G20, which is a major step towards increasing the representation of developing countries in the forum.

The AU's membership in the G20 offers an opportunity to reshape global trade, finance, and investment and would provide a greater voice to the Global South within the G20.

It allows African interests and perspectives to be heard and recognized within the G20.

Global Biofuels Alliance (GBA):

GBA is an India-led initiative that aims to develop an alliance of governments, international organizations, and industry to promote the adoption of biofuels.

The initiative seeks to position biofuels as a key component of the energy transition and contribute to job creation and economic growth.

It will help accelerate India’s existing biofuels programs such as PM-JIVANYojna, SATAT, and GOBARdhan scheme.

As per IEA, there will be 3.5-5x biofuels growth potential by 2050 due to Net Zero targets, creating a huge opportunity for India.

India – Middle East – Europe Economic Corridor (IMEC):

A Memorandum of Understanding (MoU) was signed between the Governments of India, the US, Saudi Arabia, the European Union, the UAE, France, Germany and Italy to establish the IMEC.

IMEC is part of a broader initiative called the Partnership for Global Infrastructure Investment (PGII).

IMEC is a significant infrastructure project connecting India, the Middle East, and Europe.

The project aims to establish a network of transport corridors, including railways and sea lanes.

War in Ukraine:

The G20 countries emphasize the importance of peace and call on all states to uphold the principles of international law, including territorial integrity and sovereignty.

The declaration expresses deep concern about the human suffering and adverse impacts of wars and conflicts worldwide, specifically addressing the war in Ukraine.

It emphasizes that all states must act in accordance with the Purposes and Principles of the UN Charter, refraining from the threat or use of force to seek territorial acquisition.

The use or threat of use of nuclear weapons is deemed inadmissible.

Countering Terrorism and Money Laundering:

The G20 condemns terrorism in all its forms, including those rooted in xenophobia, racism, and intolerance or carried out in the name of religion.

A holistic approach based on international law is advocated to effectively counter terrorism, with an emphasis on strengthening international cooperation to deny terrorist groups safe haven, freedom of operations, and financial support.

Concerns about illicit trafficking and diversion of small arms and light weapons are addressed, with an emphasis on international cooperation among states to combat these phenomena.

The G20 leaders commit to supporting the resource needs of the FATF and FATF Style Regional Bodies to combat money laundering and terrorist financing.

Economy & Climate:

G20 leaders call for strong, sustainable, and inclusive growth in response to the uneven recovery from the pandemic.

India's G-20 presidency has laid the foundation for a coordinated and comprehensive policy and regulatory framework for cryptocurrencies.

Trillions of dollars will be required for countries to meet their climate goals and invest in clean energy technologies.

Reforms of international financial institutions are urged, along with efforts to manage debt vulnerabilities in low and middle-income countries.

The exchange of tax-relevant information on crypto assets is set to begin by 2027.

The declaration calls for accelerated efforts to phase down unabated coal power and eliminate inefficient fossil fuel subsidies.

Emphasis is placed on the need for well-calibrated monetary, fiscal, financial, and structural policies to promote growth, reduce inequalities, and maintain macroeconomic and financial stability.

Global Growth:

It stress that central banks remain committed to achieving price stability in line with their respective mandates.

Financial Stability Board (FSB): Initiatives by the FSB, Standard Setting Bodies (SSBs), and jurisdictions to examine lessons from recent banking turbulence are welcomed.

Multilateral Development Banks:

G20 leaders emphasize the importance of delivering better, bigger, and more effective multilateral development banks (MDBs).

Financial institutions are encouraged to leverage private capital through innovative financing models and partnerships for maximum development impact.

The roadmap for implementing the recommendations of the G20 Independent Review of MDBs Capital Adequacy Frameworks (CAFs) is endorsed.

Cross-border Payments:

The G20 reaffirms its commitment to achieving global targets for faster, cheaper, and more transparent cross-border payments by 2027.

Discussions on the potential macro-financial implications of Central Bank Digital Currencies (CBDCs) are welcomed, especially concerning cross-border payments and the international monetary and financial system.

Education:

The G20 recognizes the importance of investing in human capital development and supporting digital technologies to bridge educational divides.

The promotion of open, equitable, and secure scientific collaboration and mobility of students, scholars, researchers, and scientists is encouraged.

Emphasis is placed on inclusive, equitable, high-quality education and skills training, with foundational learning as a primary building block.

Healthcare Resilience and Research:

The G20 New Delhi Leaders' Declaration places significant emphasis on healthcare and prioritizes the need to build a resilient healthcare system.

It commits to strengthening the global health architecture to create more resilient, equitable, sustainable, and inclusive health systems. The World Health Organization (WHO) is at the core of this effort.

The goal is to enhance primary healthcare, the health workforce, and essential health services to levels better than pre-pandemic within the next two to three years.

India’s G20 presidency also pushed for the integration of evidence-based traditional medicine practices with modern medicine.

There is an emphasis on adopting a one-health approach, which tracks diseases in animals, plants, and humans within the same mechanism, with a particular focus on tackling antimicrobial resistance.

Agriculture:

Trade Facilitation: Rising commodity prices contributing to cost of living pressures are addressed.

The G20 leaders commit to facilitating open, fair, predictable, and rules-based trade in agriculture, food, and fertilizers, in line with relevant WTO rules.

Support for developing countries’ efforts to address food security challenges is emphasized, aligning with the G20 Deccan High-Level Principles on Food Security and Nutrition 2023.

Religion:

The G20 strongly condemns acts of religious hatred against individuals, religious symbols, and holy books.

Emphasis is placed on promoting respect for religious and cultural diversity, dialogue, and tolerance.

The interdependence of freedom of religion or belief, freedom of opinion or expression, peaceful assembly, and freedom of association is recognized as a means to combat intolerance and discrimination based on religion or belief.

Corruption:

The G20 reaffirms its commitment to zero tolerance for corruption.

Strengthening international cooperation and information sharing for combating corruption is urged.

The joint Declaration also called for strengthening asset recovery mechanisms for combating corruption.

India-Mercosur Preferential Trade Agreement (PTA):

India and Brazil agreed to work together for the expansion of India-Mercosur PTA to promote economic ties.

Mercosur is a trading bloc in Latin America, comprising Brazil, Argentina, Uruguay and Paraguay.

The India-Mercosur PTA came into effect on June 1, 2009, aimed to eliminate customs duties on a limited number of goods agreed between India and the Mercosur bloc.

India’s Cultural Showcase:

Bharat Mandapam (inspired from Anubhav Mandapam).

Bronze statue of Lord Nataraja (Chola style).

Konark Chakra of Odisha’s Sun Temple and Image of Nalanda University (used as iconic backdrops).

Thanjavur Paintings and Dhokra art .

Brass statue of Lord Buddha sitting under Bodhi tree.

Diverse musical heritage (Hindustani, Folk, Carnatic, Devotional).

Conclusion:

In essence, the New Delhi Declaration serves as a testament to the collaborative efforts of G20 member countries in addressing global challenges and striving for a more prosperous, peaceful, and sustainable world.