Introduction
The G20 is a significant international forum that brings together the leaders of 19 major economies and the European Union. It comprises a grouping of  world's leading industrialised and emerging economies. These members account for around 85% of the world GDP, 75% of the total international trade, and two-thirds of the global population. Established in 1999, the G20 serves as a platform for leaders to discuss and coordinate on crucial global issues.

 

2023 G20 Summit
The G20 Leaders' Summit of 2023, recently held in New Delhi, marked India's debut as a host, with the participation of 43 Heads of Delegation. The 2023 G20 Summit in New Delhi marked the 18th meeting of the G20. The summit concluded at the Bharat Mandapam International Exhibition-Convention Centre, Pragati Maidan, New Delhi. Vasudhaiva Kutumbakam, which translates to “One Earth, One Family, One Future,” is the theme of India’s G20 presidency.

 

Key takeaways from the G20’s New Delhi Summit or Major outcomes:

• India’s G20 presidency resulted in adoption of New Delhi Declaration. It is an an official non-binding statement which aims to underscore the importance of strong, sustainable, balanced, and inclusive growth.
• The African Union, with 55 members, gained permanent G20 membership for enhanced representation and inclusivity.
• A new organization called the Global Biofuel Alliance (GBA) has been launched by the member countries which will emphasise on the maximum use of Biofuel.
• India-Middle East-Europe-USA Corridor has been proposed and passed by the leaders of these countries. It aims build a rail and shipping corridor linking India with the Middle East and Europe.

 

Significance for India or India's G20 Presidency
India's G20 presidency carries significant weight due to its status as the fastest-growing major economy. It advocates for climate action, inclusive growth, empowerment, employment, fostering an atmosphere of global cooperation. By convening meetings of the Global South alongside the G20, India becomes their representative voice. The 2023 G20 Summit marked a momentous occasion, showcasing India's growing prominence on the global stage.