G20 Summit

World leaders have gathered in New Delhi for a two-day G20 Summit 2023, being held on September 9 and 10. The G20, formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular, aims to secure global financial stability by involving middle-income countries. Together, the G20 countries include 60 per cent of the world’s population, 80 per cent of global GDP, and 75 per cent of global trade. The member countries include Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, Italy, Japan, Mexico, South Korea, Russia, Saudi Arabia, South Africa, Turkey, US, UK, EU, Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE.

At the end of the 18th G20 Summit on September 10, a G20 Leaders’ Declaration will be adopted, which will reflect the priorities and commitments discussed in the various ministerial and working group meetings throughout the year.

As part of its preparations for the Summit. which is being held at Bharat Mandapam in Pragati Maidan, the Delhi government has ordered all government offices and educational bodies situated in the city to remain closed. Similarly, private offices which function on Saturday and Sunday have been asked to remain shut. Apart from this, commercial and financial establishments situated within the jurisdiction of New Delhi Police District will remain closed during this period, including markets which see high footfall on weekends. Security has been ramped up, with as many as 60 Deputy Commissioners from across the city, including those from specialised units, drafted to oversee and manage specific tasks related to the Summit. This includes security, in and around the Summit venue, IGI Airport, designated hotels, sites designated for visits by spouses, and traffic routes of visiting delegations. The Delhi Police has also put in place a slew of restrictions, diversions apart from deploying around 10,000 personnel on the ground to ensure smooth flow of traffic in the capital.

As a forum for international economic cooperation, it plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.