The G20 summit in India and developments on its sidelines like the announcement of the IMEC, multiple bilateral meetings held by Prime Minister Modi, will all have long term geoeconomic and geopolitical impact. These, along with the summit deliberations and outcome are key to assess the future prospects of great power relations.
The New Delhi Leaders' Declaration breaks new ground key areas like climate finance, digital public infrastructure, trade, and multilateral reform. While the declaration is backed by unanimous consensus and outlines ambitious and wide-ranging goals, the actual extent of its implementation can only be assessed in the medium term.
India’s leadership of the G20 has managed to maintain a balanced stance on the Russia-Ukraine conflict in the grouping while also highlighting the need for greater accommodation of emerging powers within the multilateral framework. This experience positions India on the path to becoming a more equitable global rule-maker, fostering collaborations between the Global South and the G20.
Sanctions against Russian energy, high cost fuel, heat waves and droughts all at once have raised the price of daily energy use to unprecedented levels and plunged large parts of the world into darkness.