The G20 Summit's draft document encompasses a broad spectrum of global
issues, reflecting the group's commitment to addressing complex challenges. It
emphasizes strengthening public health systems, especially in light of the
COVID-19 pandemic, supporting sustainable economic recovery, climate action,
gender equality, and international cooperation on matters like terrorism, money
laundering, and migration.
Additionally, the document underscores the importance of fostering digital
innovation, securing the digital economy, and harnessing artificial intelligence
responsibly. Overall, this comprehensive document demonstrates the G20's
dedication to inclusive, sustainable, and resilient global development across
multiple dimensions, from public health to technology and beyond.
Theme Of The 18th G20 Summit
The Theme of the 18th G20 Summit organised by India is (vasudhaiva kutumbakam -
The world one is one family).
In the contemporary times, when there are multiple disputes between countries,
the idea of one earth, one family instils community hood again. It emphasises
unity in the world community. Addressing global issues like recession, poverty,
unemployment requires global efforts of the whole global community and thus,
this principle of "World Community" gains immense value to us. It just does not
mean organised collective action. Like how, in a family, we all live happily as
one, the whole world is one family without any differences (either of race,
gender, country etc.)
Therefore, the theme is chosen carefully to remind us of our fraternity and make
community efforts to resolve issues.
- Accelerate our actions to address development and climate challenges,
promote Lifestyles for Sustainable Development (LiFE), and conserve
biodiversity, forests, and oceans.
- Improve access to medical facilities and medicines to better deal with
- Promote efficient addressal of debt vulnerabilities.
- Take up steps to set up Multilateral Development Banks to maximize
global development impact.
- Make better access to digital services as well as digital infrastructure
so as to bring in inclusivity.
- Promote sustainable and good employment that is safe and healthy.
- Eliminate gender gaps and promote full participation of women in the
- Better integrate the perspectives of least developed countries (LDCs),
landlocked developed countries (LLDCs), and small island developing states
Part - A: Strong, Sustainable, Balanced, And Inclusive Growth (Art. 15 - 22)
G20 leaders called for upholding international law, diplomatic resolutions, and
peaceful conflict resolution while addressing global economic challenges. They
acknowledged below-average economic growth, citing financial tightening,
potential debt vulnerabilities, persistent inflation, and geopolitical tensions.
The leaders emphasized the necessity for balanced policies encompassing
monetary, fiscal, financial, and structural aspects to reduce inequality and
ensure stability. Policymakers must remain adaptable to achieve strong,
sustainable, and inclusive growth. They also recognized the importance of
central bank independence, targeted fiscal measures, supply-side policies, and
exchange rate commitments set by Finance Ministers and Central Bank Governors in
Development of Private Sector - Art 17
Private sector importance recognized with a focus on: inclusive global value
chains, sustainable investments (FDIs), developing countries' projects via MDB
expertise, and improving business environment. Additionally, a Start-up 20
Engagement Group initiated under India's leadership to promote startups and
micro, small, and medium industries in the economy.
Free and Fair Trade - Art. 19
Emphasizing the importance of a rules-based, non-discriminatory, fair, open,
inclusive, equitable, sustainable, and transparent multilateral trading system,
with the World Trade Organization (WTO) at its core. The commitment is to
support policies that enable trade and investment to serve as an engine of
growth and prosperity for all.
Preparing for the Future of Work - Art. 20
Under the "Preparing for the Future of Work" section, the G20 outlines
- Fair Competition and WTO Reform: The G20 reaffirms its commitment to a
fair, non-discriminatory, and transparent multilateral trading system
centred around the World Trade Organization (WTO). They aim to discourage
protectionism and market-distorting practices while actively pursuing WTO
reform through an inclusive process, with a goal of a fully functioning
dispute settlement system accessible to all members by 2024.
- MSMEs and Access to Information: Recognizing the challenges faced by
Micro, Small, and Medium Enterprises (MSMEs), the G20 introduces the Jaipur
Call for Action to enhance MSMEs' access to information and facilitate their
integration into international trade, particularly in developing countries.
- Global Value Chains (GVCs): The G20 endorses the G20 Generic Framework for
Mapping Global Value Chains (GVCs), aiding member countries in identifying
risks and strengthening their resilience within these chains.
- Digitalization of Trade Documents: The G20 welcomes High-Level Principles
on the Digitalization of Trade Documents, urging their implementation and
encouraging other nations to consider adopting them.
- Trade and Environment Policies: The document highlights the importance of
aligning trade and environment policies, ensuring they are supportive of
each other and consistent with WTO and multilateral environmental
- Aid for Trade: The G20 acknowledges the significance of the WTO's 'Aid for
Trade' initiative in enabling effective global trade participation,
particularly for Least Developed Countries (LDCs). They express support for
mobilizing the necessary resources to facilitate this goal.
- Skilled Workforce and Migration: The G20 commits to addressing skill
gaps, promoting decent work, and ensuring inclusive social protection
policies. They endorse well-managed, regular, skills-based migration
- Global Skill Gap Analysis: Efforts to map global skill gaps and
establish G20 policy priorities for addressing these gaps, improving data,
and extending skills databases to G20 nations are welcomed.
- International Occupation Classification: Consideration for an
international occupation classification based on skill and qualification
requirements to facilitate cross-country comparability and recognition.
- Digital Upskilling and Reskilling: Welcoming a toolkit for adaptable
digital upskilling and reskilling programs.
- Social Protection and Decent Work: Aiming for sustainable universal
social protection and portability of social security benefits.
- UN Global Accelerator on Jobs and Social Protection: Recognizing the
cultural and creative sector's significance for inclusive growth and decent
- Gig and Platform Workers: Ensuring social protection and decent
conditions for these workers.
- Elimination of Child and Forced Labor: Increased efforts to eliminate
child and forced labor in global value chains.
Under Art. 21, G20 seeks to re-emphasize on its G20 Policy Recommendations for
Advancing Financial Inclusion and Productivity Gains through Digital Public
Infrastructure. It is trying to achieve financial inclusion and the
digitalisation of the member countries. It also focuses on developing MSMEs
through the G20 2023 Financial Inclusion Action Plan (FIAP).
Art. 22 provides extensive details on Policy measures and Convention guidelines
regarding Corruption. Way to address corruption, punishments etc. Light is also
shone upon the OECD Anti-Bribery Convention.
Part B: Accelerating Progress On Sustainable Development Goals (Sdgs) (Art. 23 -31)
We are already half-way through the decade and we have achieved only 12% of the
set targets of Sustainable Development Agenda 2030. Therefore, emphasis has been
made to accelerate progress on SDGs. Committing to take collective action for
effective and timely implementation of the G20 2023 Action Plan to Accelerate
Progress on the SDGs, ensuring that no one is left behind.
Eliminating Hunger and Malnutrition - Art 26
- Digital Transformation and Financing
Recognizing the role of digital transformation, AI, data advances, and the
need to address digital divides. Committing to mobilize affordable,
adequate, and accessible financing from all sources to support developing
countries in their domestic efforts to address bottlenecks for implementing
the 2030 Agenda.
- Tourism and Culture
Highlighting the crucial role of tourism and culture as a means for
sustainable socioeconomic development and economic prosperity. Mentioning
the Goa Roadmap for Tourism as a vehicle for achieving the SDGs.
- G20 Cooperation and Partnerships
Committing to enhancing G20 cooperation and partnerships to address
challenges in the implementation of the 2030 Agenda. Expressing support for
UN efforts and processes related to the SDGs.
Hunger and malnutrition are major problems affecting people all around the
Global Health and One Health Approach - Art. 28
- Climate-Resilient and Nutritious Grains
- Encouraging efforts to strengthen research cooperation on
climate-resilient and nutritious grains.
- Emphasizing the importance of increasing access to, availability, and
efficient use of fertilizer and agricultural inputs.
- Sustainable Agriculture
- Committing to accelerating innovations and investments focused on
increasing agricultural productivity, reducing food loss and waste, and
improving marketing and storage to build more sustainable and
climate-resilient agriculture and food systems.
- Access to Nutritious Diets
- Committing to support developing countries in addressing their food
security challenges and enabling access to affordable, safe, nutritious,
and healthy diets.
- Trade in Agriculture
- Committing to facilitate open, fair, predictable, and rules-based
agriculture, food, and fertilizer trade, reducing market distortions in
accordance with relevant WTO rules.
- Agricultural Market Transparency
- Committing to strengthening the Agricultural Market Information System
(AMIS) and the Group on Earth Observations Global Agricultural
Monitoring (GEOGLAM) for greater transparency in food markets and to
avoid food price volatility.
Delivering quality Education - Art. 30
- The G20 reaffirms its commitment to strengthening global health and
implementing a One Health approach:
- Primary Health Care and Health Workforce - Focusing on strengthening
primary health care, ensuring adequate numbers of health workers, and
improving access to essential health services, medicines, and vaccines,
especially in low-income countries.
- Pandemic Preparedness- Acknowledging the importance of pandemic
preparedness and response, calling for the full and timely
implementation of the International Health Regulations (2005).
- Antimicrobial Resistance (AMR) - Committing to implementing a One
Health approach to combat AMR by improving infection prevention and
control, and promoting responsible and sustainable use of
- The members understand the requirement for investment in human capital.
In this view, they have committed to:
- Provide quality basic education.
- Remove digital divide affecting students.
- Helping educational institutions to keep up with technological
advancements like AI.
- Expanding access to high-quality Technical and Vocational Education
and Training (TVET).
- Improving the mobility of students.
Part - C. Green Development Pact For A Sustainable Future (Art. 32 - 46)
Climate Change Mitigation and Adaptation
Committing to strengthening the implementation of multilateral environmental
agreements and their enforcement mechanisms. The G20 addresses its commitment to
climate change mitigation and adaptation:
1.5�C Goal - Committing to implementing and enhancing climate action to limit
global warming to 1.5�C above pre-industrial levels.
Climate Finance - Strengthening efforts to provide climate finance to support
developing countries in their mitigation and adaptation efforts.
The G20 nations are committed to addressing climate change urgently, aligning
with the Paris Agreement, limiting global warming, reassessing climate targets,
promoting sustainable lifestyles, and embracing circular economy principles, all
while considering the macroeconomic impacts of these efforts. These commitments
reflect a strong commitment to environmental sustainability and responsible
Clean, Sustainable, and Inclusive Energy Transitions - Art. 38
G20 emphasizes energy security, open markets, and inclusive investments aligning
with sustainability and climate goals. They aim to provide low-cost financing
for developing countries transitioning to clean energy, support hydrogen
markets, triple global renewable energy capacity, and advance clean energy
technology. Commitment to phasing out inefficient fossil fuel subsidies and
scaling up clean power generation while phasing down unabated coal is key.
Conserving, Protecting, Sustainably Using, and Restoring Ecosystems - Art.
G20 acknowledges ecosystem degradation due to global warming, pledging to
restore 30% of degraded ecosystems and work towards land degradation neutrality.
Implementation of the Kunming-Montreal Global Biodiversity Framework is crucial.
They commit to avoiding discriminatory green economic policies and raising
finance for forest conservation, particularly for developing countries.
Harnessing and Preserving the Ocean-based Economy - Art. 43: G20 seeks to make
the United Nations Convention on the Law Of the Sea on marine biodiversity
beyond national jurisdiction legally binding. They condemn illegal fishing and
Ending Plastic Pollution - Art. 44: G20 upholds the UNEP resolution to create a
binding international instrument on plastic pollution.
Reducing Disaster Risk and Building Resilient Infrastructure - Art. 46: G20
reaffirms the Sendai Framework for Disaster Risk Reduction (SFDRR), emphasizing
its accelerated implementation, early warning and action, capacity building, and
mutual learning from recovery experiences.
Part D : Multilateral Institutions For The 21st Century (Art. 47 - 54)
Reforming International Financial Institutions
The G20's vision for transforming international development finance in the 21st
century centres on enhancing the effectiveness of Multilateral Development Banks
(MDBs) to address the unique challenges facing developing countries,
particularly those most vulnerable. They aim to create a more robust and
responsive financial system capable of delivering on a larger scale and
maximizing development impact. Key priorities include increasing MDB financing
capacity, enhancing representation for developing countries in global economic
institutions, and promoting domestic resource mobilization in emerging
The G20 emphasizes the need to evolve MDBs to meet the 21st-century challenges
while adhering to their commitment to Sustainable Development Goals (SDGs). They
encourage MDBs to adopt innovative financing models, leverage private capital,
and explore new partnerships. Additionally, the G20 is committed to boosting the
World Bank's capacity and supporting the poorest nations through initiatives
like IDA21 replenishment.
In terms of IMF reform, the G20 seeks to revisit quotas and governance
structures while maintaining the IMF's resource envelope. They also underscore
the importance of channelling Special Drawing Rights (SDRs) through MDBs,
especially for Africa, and exploring ways to put the Poverty Reduction and
Growth Trust (PRGT) on a sustainable footing. IMF surcharge policy and
precautionary arrangements are areas of continued discussion and assessment.
Part D : Multilateral Institutions For The 21st Century (Art. 47 - 54)
Technology is a catalyst for closing digital gaps and advancing inclusive and
sustainable development. Digital Public Infrastructure (DPI), a shared system by
public and private sectors, can provide societal-scale services when built on
secure, open standards, and open-source software. Efforts are being made to
ensure DPI interoperability, respecting data flow and legal frameworks.
Additionally, there's a reaffirmation of the role of data in development
Building Digital Public Infrastructure - Art. 56: The G20 recognizes the
significance of secure and inclusive Digital Public Infrastructure (DPI) and
welcomes the G20 Framework for DPI development. India plans to establish the
Global Digital Public Infrastructure Repository (GDPIR), while acknowledging the
role of the One Future Alliance (OFA) in enhancing DPI in less developed
Building Safety, Security, Resilience, and Trust in the Digital Economy - Art.
57: The G20 embraces non-binding G20 High-level Principles aimed at ensuring a
safe and secure digital economy. They also welcome the G20 Toolkit designed to
promote cyber awareness among youth.
Crypto-assets: Policy and Regulation - Art. 58: G20 countries support the
high-level recommendations proposed by the Financial Stability Board (FSB)
regarding crypto-assets. They endorse the IMF-FSB Synthesis Paper and its
comprehensive regulatory roadmap, emphasizing adherence to global standards set
by FATF to combat money laundering.
Central Bank Digital Currency (CBDC) - Art. 59: G20 members support discussions
concerning the macro-financial impacts of Central Bank Digital Currencies (CBDCs)
and welcome the insights from the BIS Innovation Hub's report on CBDC lessons.
Fostering Digital Ecosystems: G20 nations promote the development of safe and
resilient digital ecosystems with a focus on digital technology for farmers,
digital health, and cultural heritage preservation.
Harnessing AI Responsibly for Good and for All: G20 countries commit to the
responsible use of artificial intelligence (AI), ensuring the protection of
human rights and privacy. They reaffirm their dedication to the G20 AI
Principles, promote AI's role in achieving Sustainable Development Goals (SDGs),
and emphasize international cooperation for AI governance.
Part F: International Taxation (Article 62)
Participating countries reiterate their commitment to establishing a fair and
contemporary global tax system. They report substantial advancements in the
two-pillar international tax package, particularly regarding Pillar One, which
includes the development of a Multilateral Convention (MLC) and streamlined
application of the arm's length principle for in-country marketing and
distribution activities (Amount B).
Pillar Two's Subject to Tax Rule (STTR) has been completed. The nations aim to
resolve pending MLC issues and prepare it for signature by late 2023, with
Amount B work targeted for completion by the end of 2023. Countries are
supportive of the Global Anti- Base Erosion (GloBE) Rules as a common approach
and emphasize the importance of coordinated capacity-building efforts, including
support for developing countries, as outlined in the 2023 update of the G20/OECD
Roadmap on Developing Countries and International Taxation.
They call for the prompt adoption of the Crypto Asset Reporting Framework (CARF)
and revisions to the Common Reporting Standard (CRS). It requests the Global
Forum on Transparency and Exchange of Information for Tax Purposes to establish
a coordinated timeline for exchanges by relevant jurisdictions, with many aiming
to start CARF exchanges by 2027. Progress on this initiative will be reported in
future meetings. The statement also acknowledges two reports: the OECD's report
on enhancing international tax transparency in real estate and the Global
Forum's report on facilitating the use of tax-treaty-exchanged information for
Part G: Gender Equality And Empowering All Women And Girls (Art. 63 - 68)
Enhancing Economic and Social Empowerment: Art. 64 - The G20 underscores gender
equality's significance, committing to women's active participation in
decision-making, bridging labour force gaps, ensuring quality education access,
closing the gender pay divide, tackling violence, and promoting women's
Bridging the Gender Digital Divide: Art. 65 - Aiming to halve the digital gender
gap by 2030, the G20 pledges to address gender barriers, foster regulatory
policies enabling women's involvement in digital strategies, eliminate digital
risks, encourage women-led businesses, and empower women in the digital sector.
Driving Gender Inclusive Climate Action: art. 66 - Recognizing climate change's
disproportionate impact on women, the G20 commits to their enhanced
participation in climate action, supporting gender-responsive solutions,
particularly in areas like water and hygiene.
Securing Women's Food Security, Nutrition, and Well-Being: Art 67- The G20
promotes inclusive, resilient agriculture and food systems, accessible
nutrition, and women-focused agri-value chain innovation.
Creation of a Working Group on the Empowerment of Women: Art. 68- The G20
establishes a Working Group on Women's Empowerment, boosting women's development
in tandem with its Women's Ministerial.
Part H: Financial Sector Issues (Art. 69 -71)
Support for NBFI Resilience: The G20 strongly backs the Financial Stability
Board (FSB) and standard-setting bodies' efforts to enhance non-bank financial
intermediation (NBFI) resilience. They welcome FSB reports on liquidity issues
in open-ended funds, leverage in NBFI, and cybersecurity.
Cross-Border Payments: The G20 reaffirms its commitment to improving
cross-border payments by 2027, endorsing actions laid out in the G20 Roadmap.
They appreciate the G20 TechSprint 2023 initiative to enhance cross-border
Climate Risks: The G20 welcomes the FSB's annual progress report on addressing
financial risks from climate change, highlighting their commitment to climate
resilience in the financial sector.
Corporate Governance: They endorse revised corporate governance principles that
support sustainability and access to capital markets, promoting the resilience
of the broader economy.
Sustainable Capital Flows: The G20 emphasizes the promotion of sustainable
capital flows and acknowledges reports on investment requirements and risk
management in green transitions by the OECD.
Part I: Countering Terrorism And Money Laundering (Art. 72 - 75)
The G20 unequivocally condemns terrorism, including acts rooted in xenophobia,
racism, or religious intolerance, recognizing it as a severe threat to global
peace. They condemn all terrorist actions against critical infrastructure and
emphasize the importance of comprehensive counterterrorism measures while
safeguarding human rights. Combatting illicit small arms trafficking and
diversion is a priority, emphasizing international cooperation.
The G20 commits to supporting the resource needs of the Financial Action Task
Force (FATF) and urges others to do the same. They prioritize implementing
FATF's standards on beneficial ownership transparency and asset recovery to
counter money laundering. The G20 backs regulatory frameworks for virtual
assets, addressing terrorism financing, money laundering, and proliferation
They endorse FATF's efforts to expedite global standard implementation,
including the "travel rule," and its work addressing emerging technology-related
risks such as decentralized finance (DeFi) arrangements and peer-to-peer
Part J: Creating A More Inclusive World (Art. 76-79)
The G20 welcomes the African Union as a permanent member, recognizing Africa's
global economic significance and pledging to strengthen ties and support the
African Union's Agenda 2063. They express strong backing for Africa, including
through initiatives like the G20 Compact with Africa and industrialization
support in Africa and LDCs. The G20 aims to deepen cooperation with regional
They reaffirm their commitment to supporting migrants, ensuring their human
rights and fundamental freedoms, addressing irregular migration, and cooperating
with countries of origin, transit, and destination. Additionally, they emphasize
religious and cultural diversity, dialogue, and tolerance, and condemn acts of
religious hatred. The G20 remains dedicated to integrating developing countries'
perspectives into its agendas.
The G20's commitments in the digital and technology spheres underscore their
recognition of the transformative impact of the digital economy. They prioritize
secure and inclusive Digital Public Infrastructure (DPI), with India leading the
establishment of the Global Digital Public Infrastructure Repository (GDPIR) and
the One Future Alliance's support for less developed countries.
The G20 embraces non-binding High-level Principles for a secure digital economy
and supports comprehensive regulation of crypto-assets in line with global
standards. They explore Central Bank Digital Currencies (CBDCs), foster
resilient digital ecosystems, and promote responsible AI use for sustainable
development. These commitments reflect their dedication to navigating the
challenges and opportunities of the digital age for global prosperity.