INDIA AND G20 PRESIDENCY- BREAKTHROUGH IN GLOBAL LEADERSHIP

INDIA AND G20 PRESIDENCY

Our county India is a developing nation with its historic presence in the world economic scenario. Since past our country has played major role in trade and economic activities, whether it is the case of exporting raw materials, spices and produces or the handicrafts to the western world. We had our trade relations with many countries of different continents. In present scenario, when the globalisation and intercontinental dependency is increasing day by day, our nation has again rise up to the mark in various global economic activities under the able leadership. In this context 01 December 2022 was a red-letter day as India assumed the G20 Presidency from Indonesia.

INTRODUCTION TO GROUP-20 OR G20

The Group of Twenty (G20) is an intergovernmental forum comprising 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, which 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. It was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.The G20 Summit is held annually, under the leadership of a rotating Presidency.

THE G20 PRESIDENCY

The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track, while Sherpas lead the Sherpa Track.

The Finance Track is led by Finance Ministers and Central Bank Governors of the member countries. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organisations participate.

The G20 process from the Sherpa Track is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. The Sherpa Track oversees inputs from 13 Working Groups, 2 Initiatives – Research Innovation Initiative Gathering (RIIG) and G20 Empower, and various Engagement Groups, all of whom meet throughout the year and develop their Issue Notes and Outcome Documents in parallel. These substantive discussions then feed consensus-based recommendations to the Sherpa Meetings. The outcome document of the Sherpa-level meetings eventually forms the basis of the Leaders’ Declaration, which will be debated and signed (after and if consensus is reached) at the final New Delhi Summit in September this year by the Leaders of all G20 member countries.

In addition, there are Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries. 

INDIA’S G-20 PRESIDENCY

India holds the Presidency of the G20 from December 1, 2022 to November 30, 2023. The 43 Heads of Delegations- the largest ever in G20-will be participating in the final New Delhi Summit in September this year.

The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue. It juxtaposes planet Earth with the lotus, India’s national flower that reflects growth amid challenges. The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature. Below the G20 logo is “Bharat”, written in the Devanagari script.

The theme of India’s G20 Presidency – “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” – is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, 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. The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.

For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.

The Startup 20 Engagement Group will be established under India’s G20 Presidency for the first time, recognising the role of start-ups in driving innovation that responds to a rapidly changing global scenario. 

A new working group on Disaster Risk Reduction will be established under India’s Presidency to encourage collective work by the G20, undertake multi-disciplinary research and exchange best practices on disaster risk reduction.

India’s special invitee guest countries are Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE.

G-20’s invited international organisations are UN, IMF, World Bank, WHO, WTO, ILO, FSB, OECD, AU Chair, NEPAD Chair, ASEAN Chair, ADB, ISA and CDRI.

G20 meetings will not limited only to New Delhi or other metropolises. Drawing inspiration from its G20 Presidency theme of “Vasudhaiva Kutumbakam’-“One Earth One Family One Future, as well as the Prime Minister’s vision of an ‘all of government” approach, India will host over 200 meetings in over 50 cities across 32 different work streams, and would have the opportunity to offer G20 delegates and guests a glimpse of India’s rich cultural heritage and provide them with a unique Indian experience. The Presidency is also a chance for the G20 Secretariat to provide the country’s citizens with the unique opportunity be a part of India’s G20 story.

The Indian G20 presidency has also planned a year-long India Experience’ for G20 member countries, special invitees, and others.

INDIA’S G20 PRIORITIES

GREEN DEVELOPMENT, CLIMATE FINANCE & LIFE

The opportunity to lead G20 comes at a time of compounding existential threat, with the COVID-19 pandemic having exposed the fragilities of our systems under the cascading impacts of climate change. In this regard, climate change is a key priority for India’s presidential Presidency, with a particular focus towards not only climate finance and technology, but also ensuring just energy transitions for developing nations across the world.

Understanding that the issue of climate change cuts across industry, society, and sectors, India offers the world LiFE (Lifestyle for Environment) -a behaviour-based movement that draws from our nation’s rich, ancient sustainable traditions to nudge consumers, and in-turn markets, to adopt environmentally-conscious practices. This ties closely with India’s G20 theme: ‘Vasudhaiva Kutumbakam’ or ‘One Earth. One Family. One Future.

ACCELERATED, INCLUSIVE & RESILIENT GROWTH 

An accelerated, resilient and inclusive growth is a cornerstone for sustainable development. During its G20 Presidency, India aims to focus on areas that have the potential to bring structural transformation. This includes an ambition to accelerate integration of MSMEs in global trade, bring in the spirit of trade for growth, promote labour rights and secure labour welfare, address global skills gap, and build inclusive agricultural value chains and food systems etc.

ACCELERATING PROGRESS ON SDGS

India’s G20 Presidency collides with the crucial midpoint of the 2030 Agenda. As such, India acknowledges the detrimental impact of COVID-19, which changed the current decade of action into a decade of recovery. In line with this perspective, India wants to focus on recommitting G20’s efforts to achieving the targets laid out in the 2030 Agenda for Sustainable Development.

TECHNOLOGICAL TRANSFORMATION & DIGITAL PUBLIC INFRASTRUCTURE

As G20 Presidency, India can foreground its belief in a human-centric approach to technology, and facilitate greater knowledge-sharing in priority areas like digital public infrastructure, financial inclusion, and tech-enabled development in sectors ranging from agriculture to education

 MULTILATERAL INSTITUTIONS FOR THE 21^ST CENTURY

India’s G20 priority will be to continue pressing for reformed multilateralism that creates more accountable,inclusive just, equitable and representative multipolar international system that is fit for addressing the challenges in the 21^st century.

WOMEN-LED DEVELOPMENT

India hopes to use the G20 forum to highlight inclusive growth and development, with women empowerment and representation being at the core of India’s G20 deliberations. This includes a focus on bringing women to the fore, and in leading positions, in order to boost socio-economic development and achievement of SDGs.

PARTICIPATION AND ACHIEVMENTS

India will convene the G20 Leaders’ Summit for the first time in the country in 2023. A nation deeply committed to democracy and multilateralism, India’s G20 Presidency would be a watershed moment in her history as it seeks to play an important role by finding pragmatic global solutions for the wellbeing of all, and in doing so, manifest the true spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’.

India kick-started its presidency term agenda with a series of cultural initiatives that included various Jan Bhagidari activities, a special University Connect event with 75 educational institutions from across the country, the lighting up of 100 ASI monuments with the G20 logo and colours, and showcasing G20 at the Hornbill festival in Nagaland. Sand artist Shri Sudarshan Pattnaik also created sand art of India’s G20 logo on Puri beach in Odisha. Various other events, youth activities, cultural performances, and site excursions showcasing the sights and traditions of respective city-venues, are also planned throughout the year-long calendar.

CONCLUSION

With our ancient philosophy and vision of sustainable economic growth along with equality, cultural and social progress of each and every human of the globe, we are quite sure that in this era of growing technology, we will progress towards a better world for the future generations to come, and also make the earth a better place to live, as rightly said by our PM Narendra Modi,“India’s G20 Presidency will work to promote this universal sense of one-ness. Hence our theme – ‘One Earth, One Family, One Future.’” And through proper planning and execution of our economic policies, we will not only grow as a nation but also take along those weaker nations where any economic situations rises. It is only possible when we work towards achieving these goals by putting our best efforts together. We should also encourage ourselves to be responsible citizens to preserve our rich cultural heritage and proudly put efforts and support the government in achieving the desirous goals.

 

JAI HIND