G20 Summit 2023: A Global Gathering of Economic Powerhouses

• The G20 Summit 2023 is the 18th meeting of the Group of Twenty (G20), an intergovernmental organisation comprising 19 countries and the European Union (EU).
• The summit is hosted by India from September 9 to 10, 2023, at Pragati Maidan in New Delhi.
• The theme of the summit is “Vasudhaiva Kutumbakam”, or “One Earth · One Family · One Future”, derived from the Maha Upanishad.
• The summit will be attended by heads of government or state, finance ministers, foreign ministers, and other high-ranking officials from all the G20 members and invited guests.
• The summit will adopt a G20 Leaders’ Declaration, stating the commitment of the leaders towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.
• The summit will also address major global economic issues such as debt vulnerabilities, climate change, digital transformation, health security, trade and investment, infrastructure development, and financial stability.

Member Countries and Leaders

Guest Countries and Leaders:

India has extended invitations to the leaders of 11 nations to participate as guests in the G20 Summit 2023. They are:

• Bangladesh
• Egypt
• Mauritius
• Netherlands
• Nigeria
• Oman
• Singapore
• Spain
• UAE

Schedule and Agenda

The schedule and agenda for the G20 Summit 2023 are as follows:

Day 1: September 9 – Opening Ceremony

The opening ceremony will be held at Pragati Maidan at 10:00 AM IST. The chief guest will be Prime Minister Narendra Modi. The host country’s delegation will deliver a welcome address. The leaders of all the G20 members will arrive at Pragati Maidan by helicopter.

Plenary Session

The plenary session will start at 11:00 AM IST. The host country’s delegation will chair the session. The leaders of all the G20 members will participate in the discussion on various topics such as:

• Debt vulnerabilities in low and middle-income countries
• Climate change action and adaptation
• Digital transformation and innovation
• Health security and pandemic response
• Trade and investment facilitation
• Infrastructure development and connectivity
• Financial stability and macroeconomic policy coordination

Working Group Sessions

The working group sessions will take place throughout the day on different topics. Each working group will have representatives from all the G20 members. The working group sessions will provide an opportunity for dialogue and consultation among the leaders on specific issues.

Closing Ceremony

The closing ceremony will be held at Pragati Maidan at 5:00 PM IST. The chief guest will be Prime Minister Narendra Modi. The host country’s delegation will deliver a farewell address. The leaders of all the G20 members will depart from Pragati Maidan by helicopter.

Day 2: September 10 – Plenary Session

The plenary session will start at 9:00 AM IST. The host country’s delegation will chair the session. The leaders of all the G20 members will participate in a review of progress made on various topics during day one. They will also discuss new initiatives or challenges that emerged during day one.

Working Group Sessions

The working group sessions will take place throughout the day on different topics. Each working group will have representatives from all the G20 members. The working group sessions will provide an opportunity for follow-up action or recommendations among the leaders on specific issues.

Joint Press Conference

The joint press conference will be held at Pragati Maidan at 12:00 PM IST. All the leaders of all the G20 members will attend it. They will answer questions from journalists on various topics related to their respective countries or regions.

Important Matters Discussed on G20 Summit

Some of the important matters discussed at G20 Summit are:

• Debt vulnerabilities in low and middle-income countries: The leaders agreed to enhance cooperation and coordination among themselves and with other international partners to support debt relief, restructuring, and sustainable financing for low and middle-income countries. They also pledged to mobilize at least $100 billion in new debt relief for these countries by 2025.
• Climate change action and adaptation: The leaders reaffirmed their commitment to the Paris Agreement and the goal of limiting global warming to well below 2°C above pre-industrial levels. They also agreed to enhance their climate finance flows, support developing countries in their transition to low-carbon economies, and strengthen their resilience to the impacts of climate change.
• Digital transformation and innovation: The leaders recognized the potential of digital technologies to transform various sectors and domains of society. They also agreed to promote digital inclusion, data privacy, cybersecurity, and digital trade. They are also committed to fostering innovation and entrepreneurship in their countries.
• Health security and pandemic response: The leaders expressed their solidarity with the countries that are facing the COVID-19 pandemic. They also agreed to support the global vaccine distribution, strengthen the health systems, enhance the preparedness for future health emergencies, and coordinate their efforts to end the pandemic.
• Trade and investment facilitation: The leaders agreed to simplify and streamline their trade rules, reduce tariffs and non-tariff barriers, resolve trade disputes through multilateral mechanisms, and promote fair competition. They also agreed to enhance their investment climate, attract foreign direct investment, protect intellectual property rights, and foster regional integration.
• Infrastructure development and connectivity: The leaders agreed to mobilize at least $1 trillion in infrastructure investment by 2030. They also agreed to support the development of green infrastructure, digital infrastructure, social infrastructure, and resilient infrastructure. They also agreed to enhance their connectivity through various initiatives such as the G20 Connectivity Action Plan.
• Financial stability and macroeconomic policy coordination: The leaders agreed to maintain financial stability by addressing systemic risks, enhancing financial regulation and supervision, strengthening macroprudential frameworks, improving financial literacy, and promoting financial inclusion. They also agreed to coordinate their macroeconomic policies by following a common framework based on sound macroeconomic fundamentals.