By Natesh M

Introduction

The G20 or Group of 20 is an intergovernmental forum comprising 19 sovereign countries, the European Union, and now, the African Union. It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development.

The 18th G20 summit was held at New Delhi on the 9th and 10th of September this year under India’s presidency. It was hailed ‘successful’ due to the adoption of the New Delhi Declaration with 100% consensus on the opening day of the summit, alleviating the concerns and skepticism of many experts.

In this blog, let us take a look at the key economic outcomes of the declaration briefly.

Key Economic Organizations:

• Asian Development Bank
• [Financial Stability Board](https://www.fsb.org/about/#:~:text=The FSB promotes international financial,and other financial sector policies.)
• International Monetary Fund
• Organization for Economic Co-operation and Development
• World Bank
• World Trade Organization

Key Points:

1. Strong, Sustainable, Balanced and Inclusive Growth (SSBIG): The declaration laid focus on SSBIG and invited investment in sustainable finance. It also highlighted the importance of sustainable development goals (SDGs), which are based on the transition from a fossil-fuel-based economy to a sustainable energy-based economy.

                                                    Source: [The United Nations](<https://www.un.org/sustainabledevelopment/blog/2015/12/sustainable-development-goals-kick-off-with-start-of-new-year/>)

1. Global Biofuel Alliance: The declaration announced the launch of the Global Biofuel Alliance to strengthen the use and trade of ethanol and other biofuels among member countries. It includes India, Singapore, Bangladesh, Italy, USA, Brazil, Argentina, Mauritius and UAE as members.