G-20 Key Issues for Delhi Summit

Spread the Information

G-20 Key Issues for Delhi Summit

G-20 Key Issues for Delhi Summit

The forthcoming Group of 20 summit, or G-20, will bring together the leaders of the world’s wealthiest and most powerful nations in India’s capital of New Delhi, a first for the South Asian country.

The two-day summit begins on September 9 with a slew of important global concerns at stake–and uncertainty about the bloc’s ability to present a cohesive face.

The G-20 is, at its core, an intergovernmental forum largely focused with economic matters, comprising of the world’s 20 largest economies (19 countries and the EU).

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States are members.

The G-20 countries account for nearly 60% of the world’s surface area and two-thirds of its people.

On the economic front, it accounts for 80% of global gross domestic product and 75% of international trade.

The organization was formed in the aftermath of the Asian financial crisis in 1999, and until 2008, its only annual meeting brought together the treasury chiefs of the member countries.

That changed with the 2008 financial crisis, and today a leaders’ summit is held every year, bringing together heads of government or state, finance ministers, finance ministers, and other high-ranking individuals.

Meanwhile, top officials from the European Commission, European Council, and European Central Bank represent the EU.

A DIVIDED HOUSE

The G-20 has a sharply divided outlook this year, owing in large part to the Russia-Ukraine conflict.

Western countries supporting Ukraine have stated that a joint statement would require censure of Russia, a G-20 member.

Russia refers to its military activities in Ukraine as a “special military operation,” whereas Western nations regard it as a “unprovoked Russian invasion.”

Others, such as this year’s host India, have adopted a neutral stance on the issue, further complicating the situation.

There was no common statement issued by the G-20 finance and central bank heads when they met in February, and the same is likely at the leaders’ summit.

Climate change targets, which continue to split affluent and developing countries, could be another possible roadblock.

The Ukraine conflict and other geopolitical schisms have also impacted the participation list for the New Delhi summit, with Russian President Vladimir Putin and his Chinese counterpart Xi Jinping the two most notable absentees.

Turkish President Recep Tayyip Erdoan, US President Joe Biden, Canadian Prime Minister Justin Trudeau, British Prime Minister Rishi Sunak, and Australian Prime Minister Anthony Albanese have all confirmed their participation.

Read: President Joe Biden will Visit India on September 7

AGENDA

The G-20 has focused on food and energy security, altering the international debt structure, multilateral lending to developing countries, and other problems such as regulating cryptocurrencies during India’s leadership.

“The theme of India’s G-20 Presidency-‘Vasudhaiva Kutumbakam’ or ‘One Earth – One Family – One Future’-is drawn from the ancient Sanskrit text of the Maha Upanishad,” according to the G-20 website.

Image [X-Twitter]
With the summit only a few days away, security precautions in New Delhi have been stepped up, including the deployment of tens of thousands of security personnel.

Fighter jets, radars, anti-drone systems, and surface-to-air missiles are all part of the extensive attempts to safeguard the capital’s and surrounding areas’ airspace.


Spread the Information

Leave a Comment