G20 Summit concludes – PM Modi hands over Presidency to Brazil

• PM Modi has called for a G20 virtual event in November.
• India's presidency of G20 would officially continue till November 30.
• The Delhi Declaration's 83 paragraphs have been passed unanimously.

The G20 Summit concluded in New Delhi after Prime Minister Narendra Modi handed over the symbolic event Presidency gavel to Brazilian President Luiz Inácio Lula da Silva. The Brazilian President on his part complimented India for hosting the G20 Summit successfully and added that Brazil will look to carry the torch forward.

"The Brazilian presidency of the G20 has three priorities - First, social inclusion and fighting against hunger. Second, energy transition and sustainable development in its three aspects...Third, the reform of global governance institutions,” he said.

Before the event ended, Prime Minister Narendra Modi on Sunday proposed a virtual session of the G20 around the end of November to take stock of the suggestions and decisions made at the leaders' summit that concluded here on Sunday.

In his concluding remarks at the final session of the two-day G20 summit here, Modi noted that India's presidency of G20 would officially continue till November 30 and over two-and-half months were left for its tenure as the head of the grouping.

"In the last two days, you have put forward your views, given suggestions and a number of proposals have been put forward. It is our responsibility that the suggestions that have come forth are closely looked upon as to how they can be speeded up," Modi said.

India’s G20 Presidency has seen the Delhi Declaration adopted. It called on nations to uphold international law, including territorial integrity, international humanitarian law and the multilateral system that safeguards peace and stability.

The declaration envisages a green development pact for a sustainable future, it endorses high-level principles on lifestyle for sustainable development, voluntary principles of hydrogen, the Chennai principles for a sustainable resilient blue economy and the Deccan principles on food security and nutrition among others.

The biggest takeaway of the declaration was that all 83 paragraphs of the declaration were passed unanimously with a 100% consensus along with China and Russia in agreement. For the first time, the declaration contained no footnote or Chair's Summary.

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The G20 meeting on Saturday also saw the African Union being inducted as the new permanent member of G20 thereby offering developing nations a greater say in global decision-making.

PM Narendra Modi on Saturday also launched the Global Biofuels Alliance in the presence of US President Joe Biden, President of Brazil Luiz Inacio, President of Argentina, Alberto Fernandez and Prime Minister of Italy Giorgia Meloni. The Global Biofuel Alliance is one of the priorities under India's G20 Presidency.

Another major takeaway from Day 1 of the summit, was the announcement of the launch of a mega India-Middle East-Europe shipping and railway connectivity corridor by India, the US, Saudi Arabia and the European Union.

With inputs from agencies