G20 Summit 2023 Live: India Proposes To Launch Climate Observation Satellite; Modi, Sunak Agree To Work On FTA

Prime Minister Narendra Modi and his British counterpart Rishi Sunak agreed to continue to work at pace towards a “landmark” free trade agreement (FTA) during their bilateral meeting on the sidelines of the G20 Leaders’ Summit in New Delhi.

According to a readout of the meeting from 10 Downing Street, the topics of agenda of the meeting included cooperation in the field of defence technology, innovation and some consular issues among others.

India proposed to launch a G20 Satellite Mission for Environment and Climate Observation, with an aim to help the countries of the global south.

Prime Minister Narendra Modi suggested the satellite proposal at the G20 Leaders' Summit in the presence of world leaders including U.S. President Joe Biden, U.K. Prime Minister Rishi Sunak and South Africa President Cyril Ramaphosa among others.

PM Modi added that the G20 satellite mission would be beneficial for all of humanity just as the data obtained from India's successful Chandrayaan moon mission.

G20 leaders called for a strong, sustainable, and inclusive growth as an answer to the uneven recovery the world has seen from the pandemic-infused plunder, and flagged trillions of dollar that countries would need to meet their climate goals and clean energy technologies, reported PTI.

PTI added that while developing countries need $5.8-5.9 trillion in the pre-2030 period for their climate goals, the world would need an investment of another $4 trillion per annum by 2030 to help reach net-zero carbon emission goal by 2050.

The G20 grouping under India's presidency has condemned terrorism in all its forms and called for strengthening of efforts to increase the effectiveness of international cooperation to deny terrorist groups safe haven, freedom of operations as well as financial, material or political support, reported PTI.

U.S. President Joe Biden has rallied G20 nations to agree to collectively mobilise more headroom and concessional finance to boost the World Bank’s capacity to support low- and middle-income countries, the White House said on Saturday.

The White House said a growing coalition of countries has come together to reform the World Bank’s mission and vision, incentives, operational model, and financing capacity.

Here's a brief on what European leaders said on the new economic corridor.

"Today is the launch of the new economic corridor between India and the Middle East and Europe goes precisely in this direction and is a milestone in strengthening global interconnections," Italian Prime Minister Giorgia Meloni said.

"The India-Middle East-Europe economic corridor will be the most direct connection to date between India, the Arabian Gulf and Europe. This is also the spirit of the second project we announce today the Trans African Corridor," European Commission President Ursula von der Leyen said.

"We have to be active that these things can happen and work on the institutions that can work on financing and for this it is also important to make the work of the World Bank successful. Germany will contribute an additional 305 Million Euros to the World Bank," German Chancellor Olaf Scholz said.

French President Emmanuel Macron committed to invest alongside other partners in the economic corridor.

The leaders of India, the U.S., European Union, Japan, Saudi Arabia and UAE at the Partnership for Global Infrastructure Investment (PGII) and India-Middle East-Europe Economic Corridor programme at Bharat Mandapam.

Prime Minister Narendra Modi, along with leaders of the U.S., UAE, Brazil, Bangladesh, Italy, Singapore and others at the launch of 'Global Biofuel Alliance'.

India announced the launch of the Global Biofuel Alliance and urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20%.

India has sought to define the G20 Summit around 'inclusion of the Global South' and there has been a lot of 'positive development' with respect to the Russia-Ukraine conflict this year than it was last year, a top official of South Africa said, reported PTI.

The G20 New Delhi Leaders’ Declaration said it will continue to closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem and await an IMF roadmap for a comprehensive policy and regulatory framework.

"We endorse the Financial Stability Board’s (FSB’s) high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements," the document said.

The Finance Ministers and Central Bank Governors will discuss taking forward the Roadmap at their meeting in October 2023.

Here's what G20 agreed on the CBDCs:

"We welcome discussions on the potential macro-financial implications arising from the introduction and adoption of Central Bank Digital Currencies (CBDCs), notably on cross-border payments as well as on the international monetary and financial system. We welcome the BIS Innovation Hub (BISIH) Report on Lessons Learnt on CBDCs and look forward to the IMF Report on Potential macro-financial implications of widespread adoption of CBDCs to advance the discussion on this issue."

The External Affairs Minister said G20 is not the platform to resolve geopolitical and security issues while addressing the Ukraine aspect of the G20 declaration.

European Commission President Ursula von der Leyen emphasised the urgency of addressing climate change, saying: "Climate change is man-made. So, it means we can fix it."

She underscored the disproportionate impact of climate change, noting that G20 countries are responsible for a staggering 80% of global greenhouse gas emissions, while Africa, with less than 4% of emissions, is among the most affected, reported PTI.

The European Commission president reminded the G20 countries that "we are about to miss our objective of limiting global warming to 1.5 degrees".

• Ukraine mentioned four times in G20 New Delhi Leaders’ Declaration.

• G20 leaders express deep concern about the immense human suffering and the adverse impact of wars and conflicts around the world.

• G20 leaders called for the cessation of military destruction or other attacks on relevant infrastructure.

• G20 calls for all for the full, timely and effective implementation of UN-brokered graine deal to ensure the immediate and unimpeded deliveries of grain, foodstuffs, and fertilizers/inputs from the Russian Federation and Ukraine.

• Reiterates PM Modi's 'Today’s era must not be of war' remark given last year.

"At the One Family Session of the G20 Summit, elaborated on how to collectively think about empowering fellow humans and making our planet more inclusive as well as sustainable. Gave the example of how technology has been leveraged to bring a positive difference in the lives of our citizens," said PM Modi.

• Commit to concrete actions to address global challenges with philosophy of living in harmony with ecosystem.

• G20 cooperation is essential in determining the course the world takes, as headwinds to global economic growth and stability persist.

• G20 leaders endorse the regulatory toolkit for enhanced digital financial inclusion of MSMEs.

• G20 leaders endorse G20 recommendations for advancing financial inclusion and productivity gains via digital public infrastructure.

Finance Minister Nirmala Sitharaman announced a G20 agreement for better, bigger, more effective multilateral development banks. The deal collectively boost World Bank’s financing abilities. Further it endorses the G20 roadmap for implementation of recommendations of the capital adequacy framework for MDBs.

The 37-page 'New Delhi Leaders’ Declaration' adopted by the G20 has been released.

Ukraine, in the midst of a war with Russia, has four mentions in the document. Further, the next G20 Leaders' Summit will be held in Brazil in 2024, followed by South Africa in 2025 and the U.S. in 2026.

The U.S. said it plans to sign a joint infrastructure plan with India, Middle Eastern countries and the European Union aimed at connecting them via a network of railways and sea routes, a development that comes as China builds its influence across the energy-rich region, reported Bloomberg.

The project will integrate railway lines and port connections from India to Europe, across UAE, Saudi Arabia, Jordan and Israel, leading to a faster transit of goods, a European Commission official said separately. It will develop energy infrastructure and enable the production and transport of green hydrogen to all partner countries. The plan includes enhancing telecommunications and data transfers with a new undersea cable connecting the region.

India announced the launch of the Global Biofuel Alliance and urged G20 nations to join the initiative with a plea to take ethanol blending with petrol globally to 20%, reported PTI.

Speaking at the G20 Summit session on 'One Earth', PM Narendra Modi also proposed to launch the 'G20 Satellite Mission for Environment and Climate Observation' and urged leaders to start working on 'Green Credit Initiative'.

The adoption of the ‘New Delhi Leaders' Declaration’ is a big achievement considering the current geopolitical climate. Such a joint declaration has been facing pushback over issues like the language of the Russia-Ukraine war and subsequent food and energy insecurities across the globe at previous ministerial-level meetings.

Amitabh Kant had earlier reiterated the focal points from the last drafting session of the leaders' declaration in Hampi in July. The sherpas and heads of delegations covered six priorities, including:

• Bold, sustainable, and inclusive growth

• Sustainable development goals

• Green development

• Multilateral-development-bank reforms

• Digital public infrastructure

• Women-led development and gender equality

Here's what India's G20 Sherpa Amitabh Kant said:

The G20 India has been the most ambitious in the history of G20 presidencies, India's Sherpa Amitabh said.

"With 112 outcomes and presidency documents, we have more than doubled the substantive work from previous presidencies," he said.

In a major breakthrough, the G20 under India's presidency has adopted the New Delhi Leaders' Declaration. Here are the key points:

• Deccan High-Level Principles on Food Security and Nutrition

• Chennai High-Level Principles for Blue/Ocean Economy

• Goa Roadmap for Tourism

• Gandhinagar Implementation Roadmap for land restoration

• Jaipur Call for Action to enhance MSMEs access to information.

The second session of the G20 Summit has commenced under the theme 'One Family'.

PM Modi announced that a consensus has been arrived by the G20 leaders to adopt the New Delhi Leaders' Declaration, inviting applause from the participants.

Its not just India holding bilateral meetings with G20 participants. Member U.K. and G20 invitee Singapore have agreed a new strategic partnership during Rishi Sunak's meeting with Singapore PM Lee Hsien Loong, reported PTI.

Following the new UK-Singapore Strategic Partnership, Downing Street said both countries will work to conclude a 'new and modern' bilateral investment treaty – the first the UK has negotiated since Brexit.

PM Modi and his Japanese counterpart Fumio Kishida held a bilateral meeting on the sidelines of the G20 Summit.

The two countries have established close ties as they confront challenges posed by China. Japan and India are partners in another key group -- QUAD -- with the U.S. and Australia.

As the world's top leaders assembled for the G20 Summit, they called for an urgent need to tackle various challenges before the globe including on the climate front, reported PTI.

The leaders of India, U.S., Brazil, South Africa and World Bank gathered for a photo sessions at the Bharat Mandapam.

On the sidelines of the G20 Summit, PM Modi and his U.K. counterpart Rishi Sunak met earlier on Saturday to hold bilateral talks. This is Sunak's first India visit since assuming the office of British PM.

French President Emmanuel Macron has arrived in New Delhi for the G20 Summit. He is on a two-day visit to India and will head to Bangladesh on Sunday, after the Summit's conclusion.

Although the Summit has already began, here's what the French ambassador to India had to say:

PM Modi, at the first session of the G20 Summit, highlighted the need to further human centric development, which is also something Indian culture has always emphasised on.

The session one is themed 'One Earth', with focus on climate change and other goals.

India's G20 Sherpa Amitabh Kant said the PM has urged leaders to find a solid solution for challenges like management of food and fuel, terrorism, and health for the welfare of future generations.

The G20 has agreed to grant the African Union permanent membership status. The move would give the 55-member African Union, which is currently classified as an “invited international organization,” the same status as the European Union.

What this means is that Africa's premiere bloc would now get representation in the high table of global diplomacy. India, along with other countries, have been pushing for more African involvement in international matters.

Earlier, only South Africa, the continent's third-largest economy, was part of the G20. Now, the African Union, which itself has a rotating presidency, will have a permanent presence in future G20 meetings.

The African Union's inclusion to the club is a big win for India, which has been championing the cause of 'Global South', a reference to developing countries who don't particularly enjoy representation at top global forums.

It also lends India huge diplomatic clout in Africa, which has become the playground for major powers like the U.S., Russia, China and European countries, all vying for political and economic influence in the resource-rich continent.

Diplomats from the Group of 20 nations have hammered out compromise language on Russia’s invasion of Ukraine, overcoming differences between Moscow and the rest of the group that had threatened to derail hopes of a joint communique from this weekend’s summit, reported Bloomberg.

The phrasing is broadly similar to that agreed at last year’s summit in Bali, Indonesia, the report said.

The language still must be approved by G-20 leaders, but that’s seen as likely now that senior staff have agreed on the language.

Indian Prime Minister Narendra Modi expressed disappointment the leaders of China and Russia opted to skip the Group of 20 leaders’ summit in New Delhi during a private meeting with U.S. President Joe Biden, US officials said Friday, reported Bloomberg.

"For our Indian partners, there is substantial disappointment that they’re not here and gratitude that we are," Kurt Campbell, Indo-Pacific coordinator on the White House National Security Council, told reporters after the meeting between Biden and Modi.

Russian President Vladimir Putin is not attending the G-20 for the second straight year, following his invasion of Ukraine, while Chinese President Xi Jinping also did not travel to India amid growing tensions between Beijing and New Delhi.

PM Modi’s country tag at the speech also read ‘Bharat’ amid the government’s reported proposal to change the country’s name from India. Earlier, the President’s gala dinner invite also mentioned the title as the 'President of Bharat', sparking furore from the opposition parties.

With the first day of the G20 Summit underway, the first leaders’ session is titled ‘One Earth’. Following this, there will be a session titled ‘One Family’, taking on India’s presidency theme of Vasudeva Kutumbakam.

India is looking at producing tangible results in areas of financing for climate transition, digital public infrastructure, accelerated implementation of sustainable development goals, framework for cryptocurrency and reform of the international financial institutions.

World leaders at the G20 Summit in New Delhi are currently discussing on ways to address the challenges posed by climate change.

Developing countries argue that wealthier nations should take greater responsibility for emission reductions, given their massive historical emissions, and provide the necessary means of implementation, including finance and technology, to assist developing and vulnerable nations in transitioning to clean energy and adapting to climate change.

Ahead of the meeting, a landmark United Nations assessment of global progress on cutting emissions shows countries are largely failing to meet their commitments, putting the planet on course for catastrophic global warming.

The report released Friday says governments must rapidly find a way to cut billions of tons of carbon dioxide if they want to stop the world from exceeding 1.5 degrees Celsius of warming by the end of the decade.

Unveiled by PM Modi last year, the theme of India's G20 Presidency - 'Vasudhaiva Kutumbakam' or 'One Earth One Family One Future' - is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe.

Following PM Modi's inaugural address, the world leaders will now discuss on the agenda items of the G20. The first session is on the theme 'One Earth'.

Prime Minister Narendra Modi invited the Head of the African Union to take his seat, as a permanent member of the G20 as the first session of the Summit begins.

Group of 20 nations agreed to grant the African Union permanent membership status. The move would give the 55-member African Union, which is currently classified as an “invited international organization,” the same status as the European Union.

G20 Summit begins with Prime Minister Narendra Modi's welcome remarks. Modi addressed the G20 meeting with country name identified as 'Bharat'.

"Before we start the proceedings of G20, I want to express my condolences over the loss of lives due to an earthquake in Morocco. We pray that all injured recover at the earliest. India is ready to offer all possible assistance to Morocco in this difficult time," he said.

U.S. President Joe Biden has arrived at Bharat Mandapam, the venue for G 20 Summit.

In a meeting with PM Modi on Friday, the two leaders vowed to "deepen and diversify" the bilateral defence partnership while welcoming forward movement in India's procurement of 31 drones and joint development of jet engines.

In their over 50-minute talks, the two leaders deliberated on India's G20 presidency, cooperation in nuclear energy, critical and emerging technologies such as 6G and artificial intelligence, and ways to fundamentally reshape multilateral development banks.

The joint statement said the U.S. President welcomed the issuance of a Letter of Request from India's Defence Ministry to procure 31 MQ-9B remotely piloted aircraft from American defence giant General Atomics.

Russian Foreign minister Sergey Lavrov has arrived at the Bharat Mandapam, who will represent Moscow at the summit in President Vladimir Putin's place.

China's Premier Li Qiang has also arrived at the venue, filling in for President Xi Jinping.

The G20 has been divided over the war in Ukraine.

A replica of Konark Wheel from the Sun temple in Odisha's Puri served as the backdrop of Prime Minister Narendra Modi's welcome handshake with G20 leaders as they arrived at the summit venue, Bharat Mandapam.

The Konark Wheel was built during the 13th century under the reign of King Narasimhadeva-I. The wheel with 24 spokes, which has also been adapted into the Tricolour, embodies India's ancient wisdom, advanced civilisation and architectural excellence.

Its rotating motion symbolises time, 'Kaalchakra', as well as progress and continuous change.

As all eyes remain on whether a New Delhi Declaration will emerge from India’s G20 Presidency, Sherpa Amitabh Kant said on Friday that such a document would be inclusive of the voice of the global south and developing countries.

"Our presidency has been decisive... The New Delhi Declaration is almost ready," Kant said in a press conference. Now, it would be up to the leaders to accept it, he said, reported PTI.

Such a joint declaration has been facing pushback over issues like the language of war and subsequent food and energy insecurities across the globe at previous ministerial-level meetings.

The G20 was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.

In 2008, G20 was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”.

The national capital has been swarmed with the presence of security forces including Delhi Police and paramilitary units in light of the G20 Summit. Security checks were intensified across the national capital on Saturday morning ahead of the two-day meeting of top world leaders scheduled to begin later in the day.

A multi-layer security cover has been put in place around the Pragati Maidan area in central Delhi

Dog squad and mounted morchas with binoculars have also been deployed to keep a hawk's eye on the security arrangements

UN Secretary General Antonio Guterres, International Monetary Fund (IMF) Managing Director and Chairman Kristalina Georgieva and World Trade Organisation (WTO) Director General Ngozi Okonjo-Iweala were among the first to arrive.

UAE President Sheikh Mohamed bin Zayed Al Nahyan, Bangladesh PM Sheikh Hasina, Canadian PM Justin Trudeau, are among the others to have arrived.

Modi welcomed the world leaders against the backdrop of the replica of the Konark Wheel, a 13th-century artefact symbolising time, progress and continuous change.

Here are the world leaders attending G20 Summit 2023 in New Delhi:

• Joe Biden, President, USA

• Rishi Sunak, Prime Minister, UK

• Emmanuel Macron, President, France

• Justin Trudeau, Prime Minister, Canada

• Li Qiang, Premier, China

• Anthony Albanese, Prime Minister, Australia

• Olaf Scholz, Chanellor, Germany

• Fumio Kishida, Prime Minister, Japan

• Yoon Suk-Yeo, President, South Korea

• Mohammed Bin Salman, Crown Prince, Saudi Arabia

• Cyril Ramaphosa, President, South Africa

• Sheikh Hasina, Prime Minister, Bangladesh

• Recep Tayyip Erdoğan, President, Turkey

• Alberto Fernandez, President, Argentina

• Bola Tinubu, President, Nigeria

Here are the world leaders who will not be a part of the G20 Summit 2023:

• Vladimir Putin, President, Russia

• Xi Jinping, President, China

• Andrés Manuel López Obrador, President, Mexico

• Pedro Sanchez, President, Spain

The theme for India's G20 presidency, 'Vasudhaiva Kutumbakam - One Earth, One Family, One Future', is a global roadmap for sustainable, inclusive and human-centric development, President Droupadi Murmu said on Saturday.

On Saturday, PM Modi will hold bilateral meetings with the leaders of the U.K., Japan, Germany and Italy besides attending the G20 events.

He will also hold a working lunch meeting with French President Emmanuel Macron on Sunday.

The world leaders arrive at Bharat Mandapam ahead of the first session of the G20 meet, 'One Earth'. The G20 leaders will deliberate on pressing global issues at the grouping's annual summit here on Sept. 9 and 10. India is hosting the summit in its capacity as the current G20 chair.

PM Modi welcomed the world leaders against the backdrop of the replica of the Konark Wheel, a 13th-century artefact symbolising time, progress and continuous change.

India's proposal for setting up a Global Biofuels Alliance is likely to get through at the G20 summit with sources indicating that the new grouping may be launched on Saturday to help accelerate energy transition, reported PTI.

The Global Biofuels Alliance is aimed at facilitating cooperation and intensifying the use of sustainable biofuels, including in the transportation sector.

Prime Minister Narendra Modi on Saturday morning reached the G20 Summit venue Bharat Mandapam here ahead of the two-day meeting of the top world leaders scheduled to begin later in the day.

Modi will welcome the G20 leaders upon their arrival at the venue, while the first key summit is expected to start at 10.30 am.

India's legacy to the group of 20 nations could be on issues such as cryptocurrency regulation, multilateral development bank reform, furthering digital public infrastructure, climate financing, formulating common debt relief frameworks for distressed countries, and improving the lines of global value chains.

Although the language around the Russia-Ukraine crisis and the subsequent global food and energy insecurity is likely to impact the joint communiqué, the summit in New Delhi is expected to yield a Chair Summary similar to the G20 Bali Summit in 2022.

The lack of consensus on certain topics is highlighted by the absence of Russian President Vladimir Putin and Chinese President Xi Jinping from the list of leaders due to visit New Delhi this weekend.

The event will conclude with India passing the G20 baton to Brazil—the host for the next summit in 2024.

The G20 Summit 2023 under India's presidency is set to take place between Sept. 9 and 10.

The summit is likely to be attended by more than 30 heads of state, top officials from the European Union, invited guest countries, and 14 heads of international organisations.

The Group of Twenty, or G20, comprises 19 countries—Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States—and the European Union. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two thirds of the world population.

India holds the Presidency of the G20 from Dec. 1, 2022 to Nov. 30, 2023. The G20 Presidency is responsible for bringing together the G20 agenda in consultation with other members and in response to developments in the global economy.