Some Facts about the New Delhi Declaration of G20

Some Facts about the New Delhi Declaration of G20

Subject : IR

Section: Groupings

More about the news:

• The Declaration’s Structure:
  • The Declaration stands out due to its unique structure, deviating from traditional paragraph-based joint declarations.
  • It begins with a preamble, followed by 10 chapters, and concludes with a final section.
• Emphasis on Ukraine:
  • The Declaration dedicates a significant portion to addressing the Ukraine-Russia conflict, with seven detailed paragraphs.
  • In contrast, the previous Bali Declaration only contained two paragraphs on this issue.
• Global Economic Focus:
  • The document discusses the global economic situation, emphasizing financial inclusion and anti-corruption efforts.
  • Commitment to implementing the Action Plan against Fugitive Economic Offenders to enhance international cooperation and information sharing.
• Sustainable Development Goals (SDGs):
  • Focus on achieving SDGs, including ending hunger, improving healthcare, and providing quality education.
  • Highlights potential economic impacts of future pandemics and identifies gaps in pandemic response mechanisms.
• Education Priorities:
  • Emphasis on enhancing teachers’ capacity, improving curricula, offering content in local languages, and increasing access to digital resources.
  • Aims to provide essential education for all, especially marginalized children.
• Green Development:
  • Stress on implementing clean, sustainable, just, affordable, and inclusive energy transitions.
  • Recognizes the importance of reliable, diverse, and sustainable value chains for critical minerals and technologies.
• Multilateral Institution Reform:
  • Discussion on reforming international financial institutions likeNotable agreement on UN Security Council reform and reforms for more effective Multilateral Development Banks (MDBs).
  • Calls for addressing debt vulnerabilities in low and middle-income countries and exchanging tax-relevant crypto asset information by 2027.
• Technological Transformation:
  • Focus on building digital public infrastructure, regulating crypto-assets, and harnessing AI responsibly.
  • Agreement on a G20 framework for digital public infrastructure and a Global Digital Public Infrastructure Repository (GDPIR).
  • Emphasis on cyber education and awareness, particularly for children and youth.
• Crypto-Asset Regulation:
  • Achievement of consensus on establishing a global regulatory framework for crypto-assets.
  • Endorsement of high-level recommendations by the Financial Stability Board (FSB) for regulating crypto-asset activities.
• Gender Equality:
  • Promotion of equal economic rights, property ownership, financial services, and inheritance for women.
  • Support for women’s organizations, closing gender gaps in agricultural access, and the creation of a working group on women’s empowerment.
• Countering Terrorism and Money Laundering:
  • Strong condemnation of terrorism and commitment to international peace and security.
• Inclusivity and Diplomacy:
  • India’s G20 Presidency welcomed the African Union’s permanent membership, enhancing G20 inclusivity and cooperation with Africa.
  • It shows India’s commitment to promoting respect for religious and cultural diversity and denouncing religious hatred.
• Acknowledgement of future G20 Presidencies, including Brazil in 2024, South Africa in 2025, and the US in 2026 and recognition of the significance of Engagement Groups and Initiatives under India’s G20 Presidency.

Some facts about Engagement Groups