India officially transfers G20 presidency to Brazil at New Delhi Summit

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India has formally handed over the G20 Presidency to Brazil at the closing ceremony of the annual summit in New Delhi.

Indian Prime Minister Narendra Modi has completed the transition by handing over the presidency to Brazil President Lula Da Silva.

During the two-day summit, the bloc adopted a consensus declaration that made commitments on several issues such as food security, energy, climate change and global debt vulnerabilities.

After two days of intense negotiations by the world’s powerful economies, the G20 Leaders Summit has come to an end. The Indian Prime Minister Narendra Modi who chaired the global economic forum says the gathering has been a resounding success.

“I have recently received the good news that with the hard work of all the teams and your cooperation, New Delhi G20 Leaders Summit declaration. We have received consensus.”

The leaders adopted a consensus that avoided condemning Russia for the war in Ukraine, But they called on states not to use force to grab territory. Western nations earlier pushed for the Kremlin to be denounced for invading its neighbour.

Indian Foreign Minister Subrahmanyam Jaishankar says, “Everybody helped because everybody came together for the consensus. But I think if I would bear me out. I think the emerging markets took a particular lead on this. And you know many of us have a strong history of working together. Bear in mind that actually you have four developing countries in succession as G20 presidency, Indonesia, US, Brazil and South Africa, so but I would say rather than, you know, who helped, the point to be recognised is that a common landing point was ultimately fashioned out.”

On other key issues, the global leaders have announced a multinational rail and ports deal linking the Middle East and South Asia.

This comes at a critical time as US President Joe Biden sees to counter China’s Belt and Road push on global infrastructure by pitching Washington as an alternative partner and investor for developing countries.

“As we work to address infrastructure gaps across low and middle income countries, we need to maximise impact of our investments. That’s why a few months ago I announced that the United States will work with its partners to invest in economic corridors. In practice, it means we are focusing on regional infrastructure projects, deliver results across multiple countries and in multiple sectors.”

World leaders also braved the New Delhi rain to visit a memorial dedicated to India’s independence hero Mahatma Gandhi.

South Africa has been represented by President Cyril Ramaphosa and Pretoria will take over the G20 presidency in 2025.