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India’s G-20 Presidency

the 17th annual summit of G-20 was hosted by the Indonesian G20 presidency in Bali under the theme ‘Recover Together, Recover Stronger’....

Recently, the 17th annual summit of G-20 was hosted by the Indonesian G20 presidency in Bali under the theme ‘Recover Together, Recover Stronger’.

  • Now, India has assumed the charge of the G20 presidency and the 18th summit will be held in India in 2023.
What is G20?
  • It is an informal group:19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
  • The G20 Presidency rotates annually.
  • Every year the G20 selects a country from another group to be president.
  • The G20 does not have a permanent secretariat or Headquarters.
What are the current issues?
  • Developing countries: are facing an extended, multi-faceted shock of great magnitude
  • Increased poverty
  • Worsening of social indicators and inequality.
  • The UN says: the world is off track on the Sustainable Development Goals (SDGs).
  • Climate-change disasters and conflicts.
  • Ukraine-Russia war
  • Food, fuel and fertilizer crisis
  • Inflation-recession.
  • Terrorism persists: the zero-tolerance stance and counterterrorism focus of the international community seems diluted.
Thematic priorities of India’s G20 presidency:
  • Accelerating progress on SDGs
  • Technological transformation and digital public infrastructure
  • Accelerated, inclusive and resilient growth
  • Lifestyle for environment (LiFE), green development and climate finance
  • Finding solutions for the “3 Fs: food, fuel and fertilizer-related crisis.
  • Women-led development and multilateral institutions for the 21st century
What steps India can take?
  • Previous summits: India can build on the decisions and mechanisms of previous summits.
  • Mobilizing global solidarity for solutions to pressing problems of humanity.
  • India’s multi-alignment can be leveraged to bridge systemic and ideological differences and spark a “mindset change”.
  • India can drive consensus on key reforms of the UN, World Bank, IMF etc.
How can G20 help to furnish these objectives?
  • G20 could adopt actionable norms and policies
  • Grow data and knowledge hubs and best practices
  • Launch mechanisms for financing and implementation
  • Advocacy campaigns
  • Impactful programmes on the ground — individually, collectively and for the benefit of the Global South.
Way Forward
  • India is seen as a bright spot in the global economic horizon. It can play a “lighthouse role” by regionalisation and globalising its achievements.
  • PM’s LiFE initiative: global high-level principles and the creation of an ecosystem of government and businesses covering demand, supply, policy signals and economic framework could be envisaged.
  • PM seeks to drive a veritable “Jan Andolan: A people’s movement based on being “One India” as much as “One Earth, One Family, One Future”.
  • Voice of the Global South Summit’ under the theme – ‘Unity of Voice, Unity of Purpose: It essentially envisages bringing together countries of the global south and share their perspectives and priorities on a common platform across a whole range of issues,”

Read more : East Timor:11th member of ASEAN

India’s G-20,India’s G-20

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