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Business News/ News / G20 Summit 2023: What will be discussed by World Leaders during the mega event

G20 Summit 2023: What will be discussed by World Leaders during the mega event

The G20 Summit 2023 in Delhi will cover topics such as loans to developing nations, debt reform, cryptocurrency regulation, and geopolitical uncertainties.

Illuminated G20 logos adorns the vicinity near Bharat Mandapam at Pragati Maidan ahead of the G20 Summit set to take place in New Delhi. (Hindustan Times)Premium
Illuminated G20 logos adorns the vicinity near Bharat Mandapam at Pragati Maidan ahead of the G20 Summit set to take place in New Delhi. (Hindustan Times)

The G20 Summit 2023 in Delhi will encompass discussions on a wide range of topics, reflecting the evolving global landscape and India's specific focus areas. 

The G20, also known as the Group of Twenty, is a forum comprised of 19 individual countries and the European Union. These member nations are major players in the global economy, collectively accounting for 85% of the world's economic output and conducting 75% of global trade. G20 countries represent approximately two-thirds of the world's total population, reported BBC News.

Also read: G20 Summit 2023 Delhi LIVE Updates: Security checks underway in Delhi. Details here

According to Forbes these discussions between global leaders will include:

Increasing loans to developing nations: A focus on boosting financial support to developing countries through multilateral institutions.

Reforming international debt structures: Efforts to reform the global debt framework, ensuring sustainability and fairness in debt management.

Regulating cryptocurrencies: Addressing the challenges and opportunities presented by cryptocurrencies, including regulatory frameworks.

Impact of geopolitical uncertainties: Assessing the effects of geopolitical tensions on global food and energy security.

India's specific focus areas for the G20 2023 Summit include:

Green development, climate finance and LiFE: Commitment to addressing climate change, with an emphasis on climate finance, technology transfer, and equitable energy transitions. The introduction of the LiFE movement, promoting environmentally conscious practices in line with India's sustainable traditions.

Accelerated, inclusive and resilient Growth: Prioritising sectors with potential for structural transformation, supporting small and medium-sized enterprises in global trade, promoting labor rights and welfare, bridging the global skills gap, and developing inclusive agricultural value chains and food systems.

Also read: G20 Summit 2023 Highlights: India is ‘right country’ at ‘right time’ to hold G20 presidency, says UK PM Rishi Sunak

Accelerating progress on SDGs: Reaffirmation of goals outlined in the 2030 Agenda for Sustainable Development, with a specific focus on mitigating the impact of the Covid-19 pandemic.

Technological transformation and digital public infrastructure: Advocacy for a human-centric approach to technology, encouraging knowledge-sharing in areas like digital public infrastructure, financial inclusion, and technology-driven progress in agriculture and education.

Multilateral institutions for the 21st century: Endeavours to reform multilateralism, making it more accountable, inclusive, and representative to address contemporary challenges.

Women-led development: A commitment to inclusive growth and development, highlighting women's empowerment and representation to advance socio-economic progress and achieve Sustainable Development Goals (SDGs).

Read the full report at Forbes India

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Published: 07 Sep 2023, 03:53 PM IST
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