The 2024 G20 summit in Brazil served as a major diplomatic event, often compared to a “World Cup” due to the global influence of the countries involved. The focus of Brazil’s presidency was on three key areas: reducing inequality, advancing sustainable development, and pushing for changes in global governance systems. These issues were highlighted in the summit’s concluding statement.
However, the summit underscored the growing difficulty in achieving consensus on critical matters like climate change, gender equality, and conflicts. Held in the shadow of Donald Trump’s imminent U.S. presidency, many feared that any agreements made would be overturned once he took office in 2025. Some leaders, like Argentina’s President Javier Milei, resisted parts of the G20 communique that advocated for progressive tax policies and gender equality.
Despite this, India found common ground with Brazil, particularly on energy transitions, poverty alleviation, and food security. Prime Minister Modi used the occasion to strengthen India’s ties with Latin America, holding meetings with leaders from Argentina and Chile. A key development was the potential upgrading of the India-Chile trade deal to a Comprehensive Economic Partnership Agreement (CEPA), a move that would deepen India’s economic relationship with Latin America.
Modi also visited Guyana, a rapidly growing oil producer in the Caribbean, to sign multiple agreements, including those related to agriculture and defense. Despite India’s interest in Guyana’s oil sector, its efforts to secure oil deals have yet to materialize. Nonetheless, India is strengthening its diplomatic ties with Caribbean nations through the India-CARICOM summit, marking a growing strategic focus in the region.
