The much-expected two-day 18th G-20 Leaders' Summit began at the newly inaugurated the State-of-Art Bharat Mandapam Convention Centre at Pragati Maidan in New Delhi on Saturday morning.
Indian Prime Minister Narendra Modi delivered inaugural speech at the event around 10.30 am. He also welcomed the guests on their arrival at the summit venue.
In the inaugural session, the African Union (AU) has been made permanent member of group of 20 countries as the Indian premier invited the AU represented by its Chairperson Azali Assoumani to take a seat at the table of G20 leaders as a permanent member.
"With everyone's approval, I request the AU head to take his seat as a permanent G20 member", Modi said in his address.
He, as well, urged the international community to transform the global trust deficit into one of trust and reliance, saying that it is the time for the world to move together.
More than 30 heads of state and government apart from nine invited country's delegation and top officials from the European Union and 14 heads of international organisations are attending the mega event under India's G-20 Presidency began in December 2022.
US President Joe Biden, UK Prime Minister Rishi Sunak, Canadian Prime Minister Justine Trudeau, Australian Prime Minister Anthony Albanesia, French President Emmanuel Macron, Chinese Prime Minister Li Qiang, Saudi Crown Prince Mohammed Bin Salman, Japanese Prime Minister Fumio Kishida were among the key figures who are attending the summit.
Russian Foreign Minister Sergey Lavrov is leading his country's delegation as its President Vladimir Putin is not attending the event.
Bangladesh Prime Minister Sheikh Hasina along with the leaders of nine invited countries by the G20 presidency are attending the mega event. The invited countries are - Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and United Arab Emirates.
The G-20 Summit with the title 'One Earth' is one of the main topics of discussion focusing on accelerating climate action through increased mitigation and strengthening the agenda of global net zero emission as soon as possible.
The main theme of this year's G20 Summit - "Vasudhaiva Kutumbakam" or "One Earth - One Family - One Future" - is drawn from the ancient Sanskrit text of the Maha Upanishad.
The theme affirms the value of all life - human, animal, plant, and microorganisms - and their interconnectedness on the planet Earth and in the wider universe.
After the conclusion of the 'One Earth' session, and followed by lunch, another session of 'One Family' will begin at 3.00 pm. Indian President Droupadi Murmu will host a dinner for the guests at 7.00 pm.
According to official sources, a G20 Leaders' Declaration will be adopted at the conclusion of the summit, stating Leaders' commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.
The India G20 Presidency has been able to arrive at a general consensus on four key financial matters - including the Global South in industrial economies' growth strategies, restructuring multilateral development banks (MDBs) for inclusive global growth, leveraging digital technology for societal development and exploring the potential of new technology for common good, sources said.
Since India is hosting the G20 Summit for the first time, necessary preparations including ensuring full-proof security for the dignitaries were put in place in the mega city.
A spectacular media centre with modern facilities has been set up at the International Media Centre (IMC) to ensure maximum coverage of the event.
The Group of Twenty (G20) is the premier forum for international economic cooperation. It plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
The G20 comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States) and the European Union.
The G20 members represent around 85 percent of the global GDP, over 75 percent of the global trade and about two-thirds of the world population.