In which year will India host the G20 Summit?

Correct option is D

​The correct answer is (d) 2023.

Explanation:

• India hosted the G20 Summit in 2023. The G20 is a major international forum for governments and central bank governors from 19 countries and the European Union.
• India assumed the presidency of the G20 for the first time.
• The 19th G20 Summit was held in Rio de Janeiro from 18 to 19 November 2024.
• The G20 Johannesburg Summit will be the 20th meeting of the Group of Twenty (G20), to be held from November 22 to 23, 2025.

Information Booster:

G20 Summit:

• The G20 (Group of Twenty) Summit is held annually and involves leaders from the world’s largest economies, including developed and developing countries.
• The presidency rotates annually among G20 members, and the host country is responsible for organizing the summit, setting the agenda, and leading discussions on global economic issues, climate change, sustainable development, and more.

Major Outcomes of the G20 Summit 2023 in New Delhi

• The 18th G20 Summit was held in New Delhi, India, on September 9th and 10th, 2023. This marked India’s first time hosting the G20 Leaders’ Summit. The summit's theme, "Vasudhaiva Kutumbakam", meaning "The world is one family", reflected the spirit of unity and global cooperation.
• The New Delhi Declaration achieved a unanimous consensus addressing several global issues, such as the Russia-Ukraine conflict, sustainable development, food security, and the establishment of the Global Biofuels Alliance.

Key Outcomes of the 2023 G20 Summit

• Admission of the African Union (AU) to the G20 (G20 becomes G21):
• The G20 leaders agreed to make the African Union a permanent member, marking a significant move towards improving the representation of developing countries in the forum.
• This inclusion provides the Global South with a stronger voice on global issues such as trade, finance, and investment.
• It allows the African Union's interests and perspectives to be more widely recognized in the G20 decision-making process.
• Global Biofuels Alliance (GBA):
• GBA is an India-led initiative aimed at promoting biofuels as a critical component of the energy transition.
• The alliance will work with governments, international organizations, and industries to accelerate biofuels adoption, contributing to job creation and economic growth.
• It is expected that biofuel production will increase 3.5 to 5 times by 2050, driven by Net Zero targets.
• Founding Members: India, the US, Brazil, Argentina, Bangladesh, Italy, Mauritius, South Africa, and UAE.
  
• Supporting Countries and Organizations:
• G20 Invited Countries: Bangladesh, Singapore, Mauritius, UAE
• Non-G20 Countries: Iceland, Kenya, Guyana, Paraguay, Seychelles, Sri Lanka, Uganda, Finland
• International Organizations: World Bank, Asian Development Bank, World Economic Forum, UN-Energy, UNIDO, and others.
• India – Middle East – Europe Economic Corridor (IMEC):
• IMEC is a significant infrastructure project aiming to connect India, the Middle East, and Europe through transport corridors such as railways and sea lanes.
• An MoU was signed between India, the US, Saudi Arabia, the EU, UAE, France, Germany, and Italy to establish the corridor.
• IMEC is part of the Partnership for Global Infrastructure Investment (PGII), a broader initiative that focuses on funding infrastructure projects in developing countries with a mix of public and private investments.
• IMEC is seen as a counter to China’s Belt and Road Initiative (BRI), offering an alternative infrastructure network.