The G20 Summit (2023) in New Delhi
For the first time, India has taken on the presidency of the G20. This historic event has emphasized the country's rising status as a worldwide leader. India has been able to take the lead in tackling numerous challenging global concerns.It is also working with other major economies to develop effective solutions and providing unique perspectives to the global community. There are various factors that affect the global economy, such as the emergence of the COVID-19 pandemic and supply chain disruptions, are contributing to the uncertainty and slowdown of the growth of the global economy. The country has an opportunity to establish a lasting legacy of success by leading collective efforts on various global issues. It can also rely on its allies for support in response to world's need and response.
India is focusing on various global issues such as climate change, digital innovation, and health access. Through its presidency, India is now getting able to foster collaborative solutions that can benefit both its population and the global community. The spirit of 'Vasudhaiva Kutumbakam' (One Earth, One Family, and One Future) is also reflected in the country's approach to international diplomacy. By achieving its presidency, India is aiming on bringing about a better world for everyone through its AmritKaal initiative. This platform aims to promote a sustainable lifestyle and green practices. It also plans to implement a development-oriented strategy to promote peace and order. Around 200+ events are planned, including the grand G20 Summit of 2023, in which India will strengthen its agenda with 6 thematic priorities.
The G20 was established in 1999 by the European Union and 19 other countries to discuss global financial and economic issues. It brings together Central Bank Governors and Finance Ministers from different countries. The G20 countries together account for over two-thirds of the world's population and almost all of its trade. It was expanded following the financial crisis in 2007. It became the leading global economic forum.
The G20 has a pair of tracks that it uses to engage its members: the 08 Finance Track and the 13 Sherpa Track Working groups, which brings together finance officials and central bank governors. These are the individuals who serve as the G20's personal envoys. The Sherpas individuals are responsible for coordinating the various activities of the G20 during the year, as well as for the summit's agenda. They will also handle the negotiations and the work of the working groups. This year, the working groups of the G20 will focus on various global priority areas which are inclusive and grounded, such as climate finance, digital economy, health, education and public infrastructure. They will also work on reforms for women's empowerment. The G20's actions are aimed at accelerating progress toward the SDGs and establishing a better future for mankind. The outcomes of these discussions will be known after the course of the presidency. These G20's priority areas are based on the national developmental goals of each country.
In the recent times, India has been able to identify a wide range of cutting-edge initiatives that are being worked on by its various working groups. The first G20 agenda is focused on financing the development of tomorrow's cities. While they contribute over 80% of the world's gross domestic product, they are also under threat due to rapid urbanization and unplanned growth. To ensure that they can continue to grow, they need to improve their services and infrastructure. Some of the key factors that cities need to improve include reliable water, transportation, power, and waste management. Cities are vital to the development of economies and are also needed to support the creation of jobs and entrepreneurship. Over the next 15 years, trillions of dollars are needed to upgrade and sustain urban infrastructure. The private sector is expected to play a vital role in addressing this issue. Through the G20 platform, the private sector can be urged to help finance the needed investments.
The second agenda that India can take up is the energy transition. It is important that the country leads the way in addressing the issue of climate change by transitioning to renewable energy sources. Doing so will help fight climate change and improve the country's energy security and economic productivity. India is currently the third-largest producer of solar energy in the world. It has also launched various programs and incentives to encourage the country's rapid expansion of renewable energy. These include the National Hydrogen Mission and the establishment of production-linked incentives for electric cars. Through its leadership, India can help other countries lower their emissions.But in contrast, there is also a need to control its own emissions first and as part of its efforts to address the energy transition, India has been coordinating with other G20 nations to expand the availability of renewable energy supplies. This will help them meet their goals of reducing greenhouse gas emissions.
The third agenda of the G20 is focused on health care. The emergence of the COVID-19 pandemic underscored the need for a global response to address the increasing number of health crises. As the leader of the G20, India can play a vital role in developing a resilient and sustainable health system. The G20 can help create a comprehensive global health agenda that focuses on ensuring that all individuals have access to affordable and quality healthcare. It should prioritize enhancing preparedness and emergency prevention, partnering with pharmaceutical companies, and leveraging digital innovations to provide universal coverage. As the leader of the G20, India can play a vital role in developing a resilient and sustainable health system. Through its private-public partnerships and regulatory environment, the country can help create a successful digital health architecture.
The G20 is the ideal forum for India to blur the distinction between its domestic politics and foreign affairs. As the host of the G20, New Delhi will also have to make sure that the issues that marred the previous summit in Bali, including the Ukraine conflict, don’t affect its objectives. In order to avoid getting carried away by the negative effects of the Ukraine conflict, India hopes that the G20 will adopt a more conciliatory approach. Indian officials has stated that it wants to place significant emphasis on developing countries' concerns, such as climate change and rising energy and food prices. The G20 comes at a crucial moment for South Asia, as it shows how important it is to be a part of the global community. Because Western nations know that they can't solve the world's problems on their own, it is important that they work together. Due to the increasing inequality, climate change, and food prices, many countries are questioning the relevance of the G20 as an effective forum for global engagement. They also believe that it is focused on outdated global governance arrangements. This G20 summit will be the opportunity for India to deliver on its promise to bring the world together. Addressing the global community and the people of the Global South, India's Prime Minister Narendra Modi said that his country is ready to lead from the front. He also noted that the international community must not ignore the growing concerns of the region under his leadership. As a growing global leader, India's proposal to add the African Union to the G20 shows its commitment to helping developing nations. Also, as one of the world's fastest growing economies, India believes it has the necessary resources to achieve its goals. It will be very challenging for the government to bridge the developing and the developed world, especially since it continues to be in an unstable geopolitical position. Since Prime Minister Narendra Modi has been leading India's efforts to promote the G20, it is expected that the country will deliver on its domestic agenda. He will be looking to show that he has the necessary skills to make the country a stronger global leader.
India is focused on addressing the issue of climate change. It is also committed to ensuring that developing countries are able to transition to renewable energy sources. The LiFE movement seeks to promote practices that are both environmentally friendly and based on Indian traditions. As the leader of this global alliance, India can also focus on areas that can help bring about structural change. These include supporting small and medium enterprises in global trade and addressing the skills gap. Moreover, as part of its efforts to improve the global system, India is also committed to establishing a more inclusive and accountable multilateral framework. Not least of all the goals, India is aiming to promote a human-centric technology approach. This can help the country develop a digital infrastructure that will support the growth of its agricultural and education sectors.
Pic Courtsey-G-20 Website
(The views expressed are those of the author and do not represent views of CESCUBE.)
