Key Highlights of The 2023 G20 New Delhi Summit

Aanchal Tekriwal, Godda, Jharkhand and Mehak Sharma, Delhi

G20 or Group of 20 is a “premium international economic forum” which is held annually under the presidency of the world’s major economies, comprising 19 nations and the European Union (EU). It focuses on various global economic, trade, sustainable development, environment, health, anti-corruption and agricultural issues. India’s G20 logo is India’s national flower i.e., Lotus holding Earth portraying a message of growth amidst hardships. It has four colours- Blue, Green, White, Saffron and the word “Bharat” written in Devanagari script. 

_{Picture Credits: g20org (Instagram: G20 India)}

India is holding its G20 presidency from 1st December 2022 to 30th November 2023. The G20 Summit 2023 was held in New Delhi on the 9th and 10th of September at the Bharat Mandapam International Exhibition-Convention Centre (IECC). The purpose of the events follow issues such as food security, economies and financial markets, climate change, global debt vulnerabilities, development, health and digitalisation.

Countries Participating: India (Present Presidency), Argentina, Australia, Brazil (Next Presidency), Canada, China, France, Germany, Indonesia (Previous Presidency), Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, European Union.

India’s Role

India has set “Vasudhaiva Kutumbakam” or “One Earth – One Family – One Future” as the theme for its G20 presidency, aiming to subject galvanizing green initiatives, igniting inclusive growth and synergising technology. Under India’s G20 Presidency, more than 200 meetings at 60 locations, with nearly 30,000 delegates and over 100,000 participants in the side events, strengthen development back to the forefront of the global agenda. It focuses on policies that welfare the emerging and developing nations, with a focal point infused with poverty alleviation and financial inclusion. 

_{Picture Credits: @narendramodi (Twitter/X)}

Trade diplomacy is a crucial aspect of India’s G2O presidency. Indulging soft power, India showcased its diplomacy at Bharat Mandapam in Delhi through UPI services for foreign delegates, a VR cycle highlighting the country’s digital journey, and its Digital Public Infrastructure (DPI) like Aadhaar, direct-benefit-transfers, and Digi Locker in divulging its digital revolution.  

History of Indo-Korea Diplomacy

Indo-Korea relationships date back to the year 48 AD when Suriratna (Queen of Ayodhya) went to Korea and married King Kim Suro. Later during the Korean War, India acted as a major negotiator to bring peace to the Korean Peninsula. Ultimately, full diplomatic relations between the two nations were established in the year of 1973. Since then, both nations have indulged in various trade, military exercises and technological investments. A new, important phase in Indo-Korea relations was established when President Dr. A.P.J. Abdul Kalam visited Korea in 2006. It resulted in the launch of the Joint Task Force to conclude the Comprehensive Economic Partnership Agreement (CEPA). The agreement was officially signed in Seoul on 7th August 2009. Bilateral trade reached a record high of over 28 billion USD in 2022. By 2030, the two nations intend to increase their trade to 50 billion USD.

_{Picture Credits: @RokEmbIndia (Twitter/X: Korean Embassy India)}

India-Korea’s cultural relation was slowly growing. To boost it further, India established the Swami Vivekananda Cultural Centre (SVCC) in Seoul in the year 2011. Later, another centre was established in Busan in the year 2013. These centres initially offered yoga and dance classes keeping in mind that Yoga was famous in Korea but not many were aware that it came from India. Various institutions also promote exchange programs by signing MoUs. Many institutes in India now offer courses in Korean language. Korea has established a department of Asian studies offering degrees in Yoga, philosophy and Ayurveda.

Korea’s Role and Expectations from G20 Summit

South Korean President Yoon Suk Yeol and First Lady Kim Keon-hee arrived in New Delhi on 9th September. PM Narendra Modi held a bilateral summit with President Yoon Suk Yeol on 10 September 2023 on the sidelines of the G20 Summit in New Delhi. The leaders acknowledged that this year marks the 50th anniversary of the founding of diplomatic relations. They discussed progress on various outlooks considering bilateral Special Strategic Partnership, including trade and investment, defence production, semiconductors and EV battery technology. Additionally, they exchanged views on global and regional matters.

_{Picture Credits: @koreanet_official (Instagram)}

Korea aims for significant progress in the negotiations for upgrading the Comprehensive Economic Partnership Agreement (CEPA) with a picture that gives prominence to bolstering the foundation for economic cooperation between the two countries. Korea has urged the Indian government to add more items such as biofuel cells, drones, and future mobility products to encourage active investment from Korea. The Changwon province of South Korea (which is also known as the centre of the military sector) has sent a delegation of 10 Small to Medium-sized Enterprises (SMEs) with expertise in defence and future mobility to investigate prospective partnerships. South Korea aims to be a ‘Global Pivotal State’ with increased engagement in the Indo-Pacific region. For the same reason, Korea pledged to actively cooperate with India’s strategy on the Indo-Pacific along with Seoul’s strategy for this region.

_{Picture Credits: @koreanet_official (Instagram)}

During the meeting with the leaders of G20 nations, South Korea decided to make a contribution of $300 million to the Green Climate Fund. Korea also decided to contribute $2.3 billion to help Ukraine in its reconstruction. On the sideline of the Summit, Korea held bilateral meetings with the leaders of Italy, Germany and Mauritius to promote its bid to host the 2030 World Expo in Busan. He also held a meeting with the President of Turkey to expand partnerships on military weapons and aircraft.

India and the Other Nations

The New Delhi Declaration was issued on the first day of the two-day G20 Summit, targeting future negotiations on pivotal issues configuring climate financing which has for the first time put $5.9 trillion on green finance, multilateral bank reforms, international taxation and sustainable development in developing countries. Condemning the Ukraine War, the G20 countries called on each state to maintain territorial integrity and sovereignty. The framework structured around the discussions at the Summit comprises 5 working groups. Starting with the Framework Working Group, chaired by India and the UK, focusing on the emphasis of the deliberations on macroeconomic conditions, risk and uncertainties. The US and China are co-chairing the Sustainable Finance Working Group. The Global Partnership for Financial Inclusion (GPFI) co-chaired by Russia and Italy, pivoted advanced financial inclusion on a global scale. Australia and Brazil are co-chairing the Infrastructure Working Group. South Korea and France are co-chairing the International Financial Architecture (IFA) Working Group. 

_{Picture Credits: The Korea Times}

The Turkish President proposed a mechanism on how other 195 countries can also become a member of the UN Security Council. They also emphasized the fact that it would be a proud moment for them if a country like India became a permanent member of the UN Security Council. He also described India as ‘The greatest trade partner in South Asia.’

The leaders of India, Brazil, South Africa and the United States issued a joint statement on 9th September. As the current and the next three presidencies, they will work on more effective multilateral development banks for a better future.

Concluding Remarks

The summit was formally closed by PM Modi on Sunday. He officially passed the gavel to the Brazilian President as Brazil will take over the presidency of G20 from 1st December 2023. President Yoon congratulated India for its successful Chandrayaan Mission. The leaders agreed on a target of tripling Global renewable energy by the year 2030 while committing to “phasedown” of coal “in line with national circumstances.” On the sideline, the leaders also paid respect to Mahatma Gandhi at Raj Ghat.

The biggest takeaway was the New Delhi Declaration which was unanimously passed with the 100% consensus. The summit inducted the African Union as the new Permanent member of G20. Mega India-Middle East-Europe shipping railway corridor was also announced by India, the US, Saudi Arabia and the European Union.

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The world leaders and experts said that this summit has proved that the group can provide solutions to crucial issues and shows a path to move forward amidst a range of challenges. The Brazilian President also thanked India for providing a voice to emerging economies. John Kirton, director of the G20 Research Group emphasized that the ‘G20 has now become a major step forward in global governance.’

With respect to India and Korea, both nations agreed to further boost commercial and cultural ties. Besides G20, both nations are also exploring new migration agreements. The year 2023 also marks 50 years of the formal diplomatic ties between the two nations. To commemorate the 50th anniversary, a promotional campaign was launched by South Korea’s Office of the Public Relations Secretary with the slogan “50 years of friendship and trust, to the shining future of Korea and India.”

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