As the G20 summit came to an end on Sunday with the US, Russia, and France hailing the gathering’s accomplishments under Indian presidency, Prime Minister Narendra Modi reaffirmed his call for the UN Security Council to be expanded and for reforms to all international institutions to reflect the “new realities” of the globe.

Prime Minister Modi ceremonially handed the gavel over to Brazilian President Luiz Inacio Lula da Silva to begin the rotating G20 chair. Lula praised India for speaking out on issues that concern rising economies.

Lula added that in order for emerging nations to reclaim political clout and have a stronger voice at the World Bank and the IMF, the UNSC needs to add additional developing nations as permanent and non-permanent members.

The prime minister also suggested a virtual G20 session for the end of November to review the recommendations and choices taken by the leaders of the main industrialized and developing countries here in his closing remarks at the final session of the two-day G20 summit. A major accomplishment for India’s president was the Saturday awarding of permanent membership to the 55-country African Union.

I hereby declare the G20 meeting to be over with this (proposal),” Modi remarked.

Modi quoted a Sanskrit shloka to pray for optimism and peace throughout the world, noting that India’s official G20 presidency would last until November 30 and that more than 2.5 months remained in its term as grouping leader.

A day after a breakthrough on the contentious issue was made to help the G20 leaders come out with a 37-page Declaration marking a significant diplomatic victory for India, official sources said the text relating to the Russia-Ukraine conflict is a “convergent consensus” rather than a “divisive consensus” and it could show a path to resolution of the crisis.

The Declaration, which avoided mentioning the Russian invasion of Ukraine and made a general appeal to all states to follow the principle of respecting each other’s territorial integrity and sovereignty, reflected the “100%” consensus India was able to achieve on geopolitical and developmental issues.

According to US Vice President Joe Biden, the New Delhi summit demonstrated that the alliance can still spearhead solutions to its most pressing problems.
He made the comments in a post on X as he was departing for Vietnam, following a morning visit with other G20 leaders to Mahatma Gandhi’s monument Rajghat.

This year’s Summit “proved that the G20 can still drive solutions to our most pressing issues at a time when the global economy is suffering from the overlapping shocks of the climate crisis, fragility, and conflict,” added Biden.

The G20 Summit, which was held under India’s leadership, was a “breakthrough” summit in many aspects, according to Sergey Lavrov, the Russian foreign minister, as it revealed the strength and significance of the Global South and provided a roadmap for the world to go forward on a number of difficulties.

French President Emmanuel Macron told reporters after a lunch meeting with Prime Minister Modi that India has done well as the G20 president given the current disjointed climate.

Speaking at the summit’s ‘One Future’ session, Modi said it was essential that international organizations take into account the “new realities” if they were to guide the world toward a brighter future.

“Global systems must be in line with the reality of the present in order to move the world toward a better future. The “United Nations Security Council” of today is another illustration of this. The world was very different from what it is today when the UN was founded. The UN has 51 founding members at that time. Around 200 nations are currently members of the UN, according to Modi.

Every industry has undergone change, including those in transportation, communication, health, and education. Our new global organization should take into account these new realities. The US, China, France, Britain, and Russia are the UNSC’s five permanent members.

In his pitch for reforms, he claimed that the historic decision to award the African Union (AU), which consists of 55 nations, permanent participation in the G20 was taken on Saturday.

“In a similar vein, multilateral development banks need to have a wider range of authority. Our decisions in this regard should be swift and decisive, Modi emphasized. Modi also presided over a symbolic tree-planting ceremony at the opulent Bharat Mandapam convention center to commemorate the G20’s 18th summit, which was formed in the wake of the 1999 Asian financial crisis.

Cryptocurrencies and cyber security were among the pressing challenges Modi listed as affecting both the present and the future of the world. He claimed that the development of international standards to control cryptocurrencies is a new issue for social order, monetary stability, and financial stability.

According to him, cyberspace has grown to be a new source of finance for terrorism, and its security requires international cooperation and a framework. “This is a crucial topic for the security and prosperity of every nation.”

“When we take care of the security and sensitivity of every country, then the feeling of ‘One Future’ will be strengthened,” he continued.

He said that the “global family” must replace the idea of a “global village” and become a reality, advocating for a time when nations’ hearts as well as their interests are in harmony.

Lavrov claimed during his press conference that India was crucial in “preventing the West” from advancing their positions on a number of issues, including Ukraine.
In many ways, this conference is a breakthrough. It gives us a way to move forward with many concerns.

Lavrov added that the Delhi summit pointed the way toward justice in both global governance and finance.

He said that the West would not be able to maintain its “hegemony” as new centers of power emerged throughout the world. “I want to express my gratitude to India for preventing attempts to politicize the G20,” he said.

President Lula addressed the closing ceremony and stated that geopolitical issues should not be allowed to dominate the G20 meetings. He also stated that the bloc was not interested in a “divided G20” and that the only effective way to address the problems of the day was through collective action.
Conflict must be replaced by peace and cooperation, he declared. The following summit will take place in November 2024 in Rio de Janeiro.

“Everyone’s dedication and commitment will be needed along the route from New Delhi to Rio de Janeiro.”