G20 Summit : Latest Updates, Discussions, and Outcomes

Prime Minister Narendra Modi is set to visit Brazil next week to take part in the G20 Leaders’ Summit.

In light of increasing geopolitical tensions stemming from ongoing conflicts involving Russia and Ukraine, as well as West Asia, Prime Minister Narendra Modi will head to Brazil next week for the G20 Leaders’ Summit, where he will present India’s perspectives on these matters. The Ministry of External Affairs (MEA) announced his visit on Tuesday, stating that the Prime Minister is set to go to Rio De Janeiro on November 18-19 for the G20 Summit hosted by Brazilian President Luis Inacio Lula Da Silva.

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Along with South Africa and Brazil, India is a member of the G20 Troika and has been actively participating in the current G20 Summit talks. The MEA (Ministry of External Affairs) statement stated that the PM would present India’s stances on a number of global issues during the summit. Expanding upon the findings of the G20 New Delhi Leaders’ Declaration and the Voice of the Global South Summits that India organized in the last two years.

Despite the details of the bilateral discussions remaining unclear, officials indicated that the PM is expected to engage with several leaders during the G20 Summit. Furthermore, after the US elections that declared Donald Trump the winner, this will mark American President Joe Biden’s last major international involvement.

Although there is no update on the Biden-Modi meeting at this time, it is reported that Biden will meet with President da Silva to address workers’ rights and enhance economic growth. New Delhi is expected to advocate for advancements on matters related to debt, climate, and gender in the multilateral forum.

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Modi’s trip to Brazil is included in his tour of three countries that begins on November 16 in Nigeria. “At the invitation of the President of Nigeria, Bola Ahmed Tinubu, Prime Minister will visit Nigeria from 16-17 November,” the MEA stated, noting that this marks the first visit by an Indian PM to Nigeria in 17 years.

Throughout the visit, the Prime Minister will engage in discussions to evaluate the strategic partnership between India and Nigeria and explore additional ways to strengthen the bilateral ties. He will likewise speak to a group of the Indian community in Nigeria. India and Nigeria have been strategic allies since 2007, enhancing their collaboration in economic, energy, and defense sectors. Over 200 Indian firms have put more than $27 billion into key sectors in Nigeria. India and Nigeria also maintain a robust partnership in development cooperation.

The final stop of Modi’s three-country journey will be Guyana, where he is traveling at the request of President Mohamed Irfaan Ali. This trip to Guyana will mark the first by an Indian Prime Minister since 1968. In early 2023, President Ali attended India as the Chief Guest at the 17th Pravasi Bharatiya Divas in Indore, Madhya Pradesh, where he received the Pravasi Bharatiya Samman.

“In Georgetown, Guyana, the prime minister will also participate in the second CARICOM-India Summit and hold meetings with leaders of CARICOM member countries to further enhance India’s long-standing friendship with the region,” it said.

The Caribbean Community (CARICOM) is an intergovernmental organisation of 15 member states in the Caribbean region having the primary objective to promote economic integration and cooperation among the members.

Reflections on the Legacy of Previous G20 Summits

18ª G20 Summit in New Delhi, India, 2023

The 18th G20 Summit took place in New Delhi on September 9 and 10, 2023, featuring the theme of the Indian presidency: “One Earth, One Family, One Future”. In the statement passed at the Summit, G20 leaders promised to: expedite the execution of the 2030 Agenda for Sustainable Development; confront development and climate issues; enhance the ability of developing nations to manage health crises; tackle vulnerabilities linked to the debts of developing countries; support Multilateral Development Banks; advocate for gender equality; amplify the representation of developing countries in global decision-making processes; among other commitments.

17ª G20 Summit in Bali, Indonesia, 2022

The 17th G20 Summit for Heads of State and Government took place in Bali on November 15 and 16, 2022. The Summit represented the final result of the efforts made during ministerial meetings, working groups, and engagement groups over the year. Under the motto “Recover Together, Recover Stronger”, in response to the economic crisis primarily triggered by the COVID-19 pandemic, G20 leaders agreed to take synchronized steps to promote an agenda for a robust, inclusive, and resilient global recovery and sustainable development that creates jobs and fosters economic growth.

16ª G20 Summit in Rome, Italy, 2021

The G20 Summit hosted by Italy took place in Rome on October 30-31, 2021, with the theme “People, Planet, Prosperity.” The Leaders’ Summit held three primary sessions focused on global macroeconomic development linked to the health crisis, strategies for tackling environmental and climate issues, and the importance of promoting sustainable development worldwide. The Summit adopted a Leaders’ Declaration that formalized their commitment to support the countries most affected by the Covid-19 pandemic, enhance their resilience, and address significant challenges like ensuring food security and environmental sustainability. They also pledged to combat climate change, make significant strides toward gender equality, and guarantee that the advantages of digitalization are widely, safely shared, helping to reduce inequalities.

Other significant results of the Italian Presidency included the official endorsement of the Matera Declaration on food safety and the collective aim of planting a trillion trees worldwide by 2030. Ultimately, the Leaders have acknowledged culture as a concern for the G20 and implemented creative measures to combat corruption.

15ª G20 Summit in Riyadh, Saudi Arabia, 2020

The Kingdom of Saudi Arabia held a virtual G20 summit in Riyadh on November 21-22, 2020. The G20 leaders reaffirmed their dedication to coordinating worldwide efforts, unity, and multilateral collaboration, protecting the Earth, and creating new opportunities. The G20 leaders additionally pledged to collaborate in overcoming the COVID-19 pandemic, reviving growth, and creating a more inclusive, sustainable, and resilient future. The G20 leaders were committed to aiding the most vulnerable and fragile nations, particularly in Africa, in their battle against the pandemic. The G20 leaders also concentrated on Employment for countless workers who still encounter job and income losses, particularly affecting women and youth. It similarly emphasized active social protection for everyone, including individuals in the informal economy.

14ª G20 Summit in Osaka, Japan, 2019

The G20 Summit, hosted by Japan for the first time in Osaka in 2019, featured G20 member nations, 8 invited countries, and delegates from 9 international organizations, marking the largest Summit ever held in Japan’s history. Leaders from leading nations convened to find common ground and collaboratively tackle significant challenges concerning the global economy.

In the context of global unrest and discontent resulting from the shifts related to globalization, Japan assumed the Presidency role, making certain that the G20 conveyed a powerful message to the world through the G20 Osaka Leaders’ Declaration. This declaration encompasses diverse topics, including driving global economic growth by fostering free trade and innovation, tackling inequalities, and aiding in the resolution of environmental and global issues.

13ª G20 Summit held in Buenos Aires, Argentina, 2018

Argentina took over the G20 presidency from December 1, 2017, until December 1, 2018, when the Leaders’ Summit wrapped up in Buenos Aires. The nation succeeded in reaching agreement on delicate topics including international commerce, excess steel production, the significance of the Paris Agreement for climate change, and the approach to the 2030 Agenda.

Under the theme “Creating consensus for fair and sustainable development”, these matters were pivotal at the G20 2018 and established three priorities that influenced the agenda of the Argentine presidency: “the future of work”, “infrastructure for development” and “a sustainable food future”. The G20 agenda focused on people at its centre. Similarly, the gender perspective was another important issue that Argentina advocated for and was strategic and pervasive across the various working groups in the forum.

Argentina consistently engaged in the G20 with the goal of advancing the viewpoint of developing nations and aiming to provide the gathering with a wider and more inclusive outlook.

12ª G20 Summit in Hamburg, Germany, 2017

Under the slogan “Creating an Interlinked World”, the G20 in Hamburg (2017) emphasized and facilitated concrete multilateral collaboration on important matters. The G20 showcased significant foresight regarding pandemic readiness and AMR, and created the G20 Africa Partnership along with the Compact with Africa, aimed at promoting sustainable investment and opportunities.

The G20 in Hamburg witnessed the approval of additional new initiatives, including the G20 Hamburg Climate and Energy Action Plan for Growth to facilitate Paris Agreement execution, as well as the Hamburg Update to advance the 2030 Agenda for Sustainable Development.

Additionally, the G20 reiterated its support for a multilateral rules-based trading system, emphasizing renewed dedication to sustainable supply chains and managing excess capacities; strengthened counter-terrorism resources through the Financial Action Task Force; took tangible actions toward attaining gender equality by empowering women (such as initiatives like #eSkills4Girls and the Women Entrepreneurs Finance Initiative, aimed at assisting women in developing nations to expand their businesses), and underscored the importance of tackling the root causes of displacement, along with the needs of refugees and migrants.

11ª G20 Summit in Hangzhou, China, 2016

The 11th G20 Summit took place in Hangzhou, China, on September 4-5, 2016. The theme focused on “Advancing a Creative, Dynamic, Interconnected, and Inclusive Global Economy.” Participants engaged in thorough conversations about four major topics: establishing a new growth trajectory, enhancing global economic and financial governance, strengthening international trade and investment, and fostering inclusive and interconnected development.

At a vital turning point for global economic development and the evolution of the G20, the Hangzhou Summit wrapped up with the approval of the G20 Leaders’ Communique Hangzhou Summit along with 28 outcome documents. The results demonstrated the essence of collaboration in facing challenges and set the direction for the global economy. The support for practical action initiatives like the G20 Action Plan on the 2030 Agenda for Sustainable Development and the G20 Strategy for Global Trade Growth demonstrated a dedication to shared development.

The Hangzhou Summit delivered this message to the global community: The G20 functions for its members as well as for the broader world, particularly developing nations and their populations.

10ª G20 Summit in Antalya. Türkiye, 2015

Türkiye held the G20 Presidency in 2015 and organized the Leaders’ Summit in Antalya on November 15-16, 2015. The Turkish G20 Presidency sought to emphasize fostering more inclusive global growth, boosting investments, and successfully executing prior commitments. Hence, Türkiye established its G20 Presidency priorities with three I’s: “Inclusivity, Investment, and Execution.”

The Leaders’ Summit brought together delegates from 26 nations and seven global organizations, totalling 13,000 attendees.

During the Summit’s inaugural day, Leaders participated in a working lunch focused on “Development and Climate Change,” a session called “Inclusive Growth: Global Economy, Growth Strategies, Employment and Investment Strategies,” and a working dinner addressing “Global Challenges: Terrorism and Refugee Crisis.”

Leaders conversed about financial regulations, global taxation, anti-corruption measures, and IMF reforms during the meeting named “Enhancing Resilience”. Trade and energy were the main topics discussed during the working lunch, where the Summit’s final communiqué and Antalya Action Plan were approved.

9ª G20 Summit in Brisbane, Australia, 2014

Australia’s 2014 G20 Summit was held in Brisbane, 15-16 November. The Summit delivered outcomes across the agenda’s three themes of (i) growth and jobs, (ii) economic resilience, and (iii) strengthening global institutions.

Leaders at the Brisbane Summit discussed the key global economic challenges and strategies for economic growth. The G20 committed to lifting G20 GDP by more than 2 per cent over five years. It also agreed to boost growth and create quality jobs, as set out in the Brisbane Action Plan and associated growth strategies.

Leaders agreed also to increase investment in infrastructure through the creation of a Global Infrastructure Hub, improve energy collaboration, strengthen energy markets through the G20 Principles on Energy Collaboration, and reduce the gap between male and female workforce participation rates by 25 percent by 2025 through the Brisbane Goal. Leaders agreed as well to reforms to strengthen financial regulations and combat tax avoidance. The Summit resulted in a Leaders’ Communique, the Brisbane Action Plan, and a standalone statement on Ebola.

8ª G20 Summit Saint Petersburg, Russia,2013

The 8th G20 Summit was held in St. Petersburg, Russia, on September 5-6, 2013.

The main topics proposed for consideration of the summit were: Implementation of the Framework Agreement for Sustainable, Strong and Balanced Growth; providing employment; reforming the international monetary and financial system; reform of financial regulation and supervision; sustainable development of global energy markets; promoting international development; strengthening multilateral trade; anti-corruption.

As for the objectives of the Russian G20 Presidency, it decided not to introduce any new items to the agenda but rather concentrate on the traditional track in support of a sustainable, inclusive and balanced growth and job creation around the world. Russia concentrated on coordinating policy measures that could be taken to stimulate the expansion and developing of long-term investment sources of growth, as well as discussing the future of sovereign borrowings within the context of the national commitments to a set of agreed international rules.

In order to ensure the continuity and implementation of the earlier commitments Russia focused to work with partners to advance traditional issues on the G20 agenda, such as the state of the global economy, implementation of the Framework Agreement for Strong, Sustainable and Balanced Growth, facilitation of job creation, reform of the currency and financial regulation and supervision systems, including the reform of the IMF formula and quotas, as well as maintaining stability in global energy markets, stepping up international development, strengthening multilateral trade and countering corruption.

7ª G20 Summit Los Cabos, México,2012

Mexico took on the G20 presidency in 2012 with the aim of creating a more efficient global economic governance framework that takes into account the needs and priorities of emerging and developing nations.

The main objectives of the Mexican presidency included stabilizing the economy and implementing structural reforms for growth and job creation; enhancing financial systems and encouraging financial inclusion to spur economic development; refining the international financial framework within a linked global economy; boosting food security and reducing fluctuations in commodity prices; and advancing sustainable development, green initiatives, and efforts against climate change.

6ª G20 Summit in Cannes, France,2011

The sixth G20 Leaders’ Summit took place on November 3-4, 2011 in Cannes, France. The Heads of State and Government approved action plans targeting agricultural price fluctuations as well as growth and employment. Subjects like food safety, banking and financial oversight, combating corruption, and avoiding the shutdown of national markets were also covered. The topic of the social effects of globalization was included in the group’s agenda.

5ª G20 Summit in Seoul, Republic of Korea,2010

The fifth G20 Summit took place on November 11 and 12, 2010, in Seoul. At the summit, the leaders proposed measures to avert the increase of trade protectionism and manipulation of exchange rate policies. They also concurred on overhauling the IMF’s quota system and executive board; establishing a structure to encourage sustainable growth; introducing new regulations on banking and systemically significant financial institutions; along with credit lines for emergencies.

4ª G20 Summit in Toronto, Canada,2010

The G20 Summit occurred on June 26 and 27, 2010, coinciding with a period of economic recovery for many of the members. The G20 leaders addressed the issue of addressing enduring unemployment and the ongoing effects of the prior crisis years. One outcome of the Canadian presidency was the creation of macroeconomic policy recommendations for groups of nations within the Framework for Strong, Sustainable and Balanced Growth, along with the addition of combating corruption to the agenda.

3ª G20 Summit in Pittsburgh, USA,2009

The second G20 Summit took place in Pittsburgh, USA, on September 24 and 25 in 2009. During that event, the leaders established the G20 as a permanent entity and the “primary platform for international economic collaboration” among its members.

A structure for robust, sustainable, and equitable growth was established. Additionally, there were choices made to enhance the international financial regulatory framework, update international organizations to align with the evolving global economy, and reform the IMF’s mandate, mission, governance structure and development banks.

In addition, the leaders discussed measures in the areas of energy security and climate change. Finally, the G20 members committed themselves to supporting the most vulnerable and to putting quality jobs at the heart of economic recovery, promoting an open global economy.

2ª G20 Summit in London, UK,2009

During the London Summit on April 2, 2009, the G20 leaders met to discuss collective actions to restore the confidence of economic agents; to strengthen regulation; to finance financial institutions to overcome the crisis and prevent its recurrence; to promote trade and capital flows; to prevent the closure of markets, laying the foundations for a sustainable and inclusive resumption of growth and employment.

1ª G20 Summit in Washington DC, USA,2008

The first G20 Summit of 2008 was held in Washington, D.C., in the wake of the subprime mortgage crisis. The leaders discussed measures to strengthen economic growth, deal with the crisis and prevent further crises. The Action Plan was approved to implement reforms in the functioning of financial institutions and intensify cooperation between regulators, promoting broader participation by emerging economies.