The G20 Summit 2023, hosted in Delhi, has been marked by significant developments, with a particular focus on the India-US relationship. The joint statement issued by Prime Minister Narendra Modi and President Joe Biden reaffirms their commitment to shared values and cooperation in various domains.
Key Highlights of the India-US Joint Statement:
Inclusive Global Governance: Both leaders expressed the view that global governance should be more inclusive and representative. President Biden reiterated his support for a reformed United Nations (UN) Security Council, with India as a permanent member. He also welcomed India's candidature for the UNSC non-permanent seat in 2028-29.
Deepening Defence Partnership: Prime Minister Modi and President Biden emphasized their commitment to enhancing the India-US Major Defence Partnership. This partnership aims to expand cooperation in new and emerging areas, including space and artificial intelligence (AI). It also seeks to accelerate defence industrial collaboration between the two nations.
Green Energy and Investment: India and the United States are actively promoting the development of investment platforms to reduce the cost of capital and facilitate the deployment of greenfield renewable energy projects, battery storage solutions, and emerging green technologies in India. As a significant step in this direction, India's National Investment and Infrastructure Fund, along with the U.S. Development Finance Corporation, have exchanged letters of intent to jointly support a renewable infrastructure investment fund with a potential funding of up to US$500 million.
Shared Values of Freedom and Democracy:
The Joint Statement underlines the pivotal role of shared values in strengthening the India-US relationship. Both leaders reiterated the importance of freedom, democracy, human rights, inclusion, pluralism, and equal opportunities for all citizens. These values are seen as fundamental in bolstering the success and resilience of the partnership between the two countries.
PM Modi's Schedule and Bilateral Meetings:
Prime Minister Narendra Modi's schedule during the G20 Summit includes 15 bilateral meetings with leaders from various countries. These meetings are expected to cover a wide range of issues, including economic cooperation, regional security, and diplomatic relations.
The G20 Summit 2023 in Delhi serves as a platform for global leaders to engage in meaningful discussions and collaborations on pressing global challenges. The India-US Joint Statement reflects the commitment of both nations to fostering deeper cooperation in areas of mutual interest, including defence, green energy, and global governance. The emphasis on shared values of freedom and democracy underscores the foundation upon which this bilateral relationship is built, signifying its enduring importance in an evolving world order.
