India is presiding over the G20 summit this year. This conference has been organized on 9 and 10 September at Bharat Mandapam of Pragati Maidan.
G20’s first joint declaration
- A joint declaration has been agreed upon on the very first day of the ongoing G20 Summit in New Delhi. At the beginning of the second session on Saturday, PM Modi, in his capacity as President, passed the New Delhi Declaration with the consent of all the member countries.
The G20’s joint declaration is a total of 37 pages. There are total 83 paragraphs in it. This has been called the New Delhi Declaration. The main proposals included in this are as follows
- All countries will work on Sustainable Development Goals. One Future Alliance will be formed on India’s initiative.
- All countries should work according to the rules of the UN Charter.
- Bio fuel alliance will be formed. Its founding members will be India, America and Brazil.
- Emphasis will be laid on one earth, one family, one future.
- Multilateral development banks will be strengthened. They will be made better, bigger and more effective.
- Emphasis will be placed on the priorities of the Global South.
- There will be talks to make a global policy regarding cryptocurrency.
- India has emphasized on making a common framework to create a better system regarding loans.
- The fastest growing cities in the world will be funded.
- Work will be done on green and low carbon energy technology.
- All countries have criticized all forms of terrorism. Terrorism was mentioned 9 times.
Europe and Middle East will build economic corridor with India
- The G20 summit held in the Indian capital will be remembered for a historic deal. This deal has been made between India, Europe and Middle East i.e. Gulf countries.
- This has been called the India, Europe, Middle East Economic Corridor Deal. It is being considered as the answer to two Chinese projects.
- These are the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor or CPEC. In a sense, CPEC is considered a part of BRI.
- 8 countries are part of this economic corridor. This deal has innumerable benefits and the target is to complete it in 10 years.
These countries are included in the deal
- India, United Arab of Emirates (UAE), Saudi Arabia, European Union (EU), Italy, Germany, France and America. White House spokesperson had recently hinted towards this deal and said – It is possible that soon some more countries will become a part of a special economic deal. Some of these names may surprise you.
Key points of this deal
- The poor and middle-income countries falling in the three regions will benefit the most. America’s Deputy National Security Advisor John Finneran told the media that we will not have to wait 10 years for its results. Very soon you will see huge changes.
- This summit is proving to be very special for President Biden. He was considered soft on China, but he gave a forceful reply and gave the world the option of BRI. In this, every powerful country including India is with America.
- Now the Middle East region will be directly connected with India and Europe not only through rail but also through port. Everyone will benefit from this. Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) wants to make the oil economy business based. They know this will fulfill their Vision 2030.
- America’s deputy NSA Finner himself said – it will soon be known how big a success this is. People will be able to understand more about this deal when its work starts. This will also reduce tension in every area.
- In recent times, China has been trying to weaken America and India by increasing its influence in UAE and Saudi Arabia. Now the Saudi Crown Prince has once again hinted towards joining America’s side. This is also important because after the Corona period, China’s economy is weakening day by day. Its growth rate has been low every time in the last four quarters.
- From the economic point of view, every country included in this deal is developing rapidly. Now since the European Union is also a part of it, you will also have to keep in mind that at least 27 countries will be in this deal only from this union.
Global Biofuel Alliance was launched at the end of the first day
- PM Modi launches Global Biofuel Alliance. During this, US President Biden, Bangladesh Prime Minister Sheikh Hasina and heads of state of Brazil, Argentina and Italy were also present. After this, PM Modi said in his address that increasing connectivity is a priority for India.
What is biofuel
- Biofuel means fuel made from plants, grains, algae, husk and food waste. Biofuels are extracted from many types of myomas.
- It contains less amount of carbon. If its use increases, the world’s dependence on traditional fuel petrol and diesel will reduce and environmental pollution will also reduce.
- For the first time in the year 1890, Rudolf Diesel used vegetable oil to run an internal combustion engine for farming.
How is biofuel made
- Different types of refineries are used to make biofuel. It is categorized on the basis of crop stock.
- First generation biofuel depends on reserves of food crops. Sugarcane crop and grain starch are processed in the first generation unit. Whereas second generation biofuel is known as advanced biofuel. In this, the process takes place in non-edible plants, woody biomass or husk.
- Third generation biomass is made from algae and microbes. Fourth generation biofuels rely on biomass materials that absorb carbon dioxide.
Where is most biofuel produced
- The largest ethanol producing countries in the world in the year 2022 are America and Brazil. America produced 57.5 billion liters of ethanol and Brazil produced 35.6 billion liters of ethanol. Whereas Europe remained at the forefront in the matter of making biodiesel. 17.7 billion liters of biodiesel was produced there. After that America is at second place and Indonesia is at third place.
What is the theme of G20 Summit 2023?
- This time the theme of G20 Summit 2023 is Vasudhaiva Kutumbakam. It means one earth, one family, one future.
What is the logo of G20 Summit 2023
- This time India has made the earth its logo along with the lotus flower. This logo is of 3 colors, which is taken from the Indian flag. And these colors are- saffron, white, green and blue.
What is the motto of G20 Summit 2023?
- India’s presidency of the G20 will prove helpful in strengthening trade ties with member countries and provide an opportunity to attract investments from those countries in sectors such as infrastructure.
Importance of G20 Summit 2023
- G-20 is called Group of Twenty, this group has 19 member countries and the 20th member of the group is the European Union. The G-20 Summit is organized once a year, however, starting from 2008, the G-20 Summit was organized twice each in the years 2009 and 2010.
- In this conference, the heads of state of the member countries of the group are invited and some other countries are also invited. After this, the heads of state of all the countries sit and discuss many issues.
- This year, under the chairmanship of India, the G-20 conference is going to be held at Pragati Maidan in Delhi.
How many countries has participate in this G20 Summit?
- This time 20 countries are participating in the G20 Summit 2023. Apart from India, the G-20 group includes France, China, Canada, Brazil, Australia, Argentina, America, UK, Turkey, South Korea, South Africa, Saudi Arabia, Russia, Mexico, Japan, Italy, Indonesia and as the 20th member. The European Union is involved.
- Presiding over the G-20 representing more than 80 percent of the global economy is a big opportunity for India.