Blog 5: INDIA AT THE HELM OF G20

Being placed at the helm of affairs of G20, India has got a unique opportunity to contribute to the global agenda on pressing issues of international importance. Hon’ble Primeminister Sh. Narendra Modi had rightly said that for India the G-20 in 2023 will not only be about diplomatic meetings, but it will provide us with the opportunity to showcase our developmental strides aimed at furthering global good. India has also invited Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the UAE as guest countries for the summit in 2023. The throne is not without thorns. As India assumes G20 Presidency, there are daunting challenges ahead of it. It has been rightly said that Indian G20 priorities are inclusive, equitable and sustainable growth, women’s empowerment, digital public infrastructure and tech-enabled development, climate financing, energy security, food security and others. India has to lead from the front. The global economy is already in doldrums post the COVID 19 pandemic. Unemployment, hunger and malnutrition are still forces to fight, SDG 2030 are rushing in, climate change is already hitting hard the food and nutritional security, sea levels are on the rise and many other challenges are confronting the humanity on the planet. What is more disturbing is regarding the credibility of the group. Individual differences and cooperation has overshadowed the group goals and objectives. An internal rift between the member countries is clearly visible. Countries are not able to arrive at a consensus regarding issues having global repercussions. It has to find innovative solutions and build bridges. India has to come out with a solution or a programme that is acceptable to all the member countries.

            Regarding the financial instability and the recession in the global economy more so after the COVID-19 pandemic, the priority of India would be to come up with a roadmap for financial recovery and inclusiveness by collaborating with international bodies like World Trade Organization (WTO), International Monetary Fund (IMF), Organization for Economic Co-operation and Development (OECD), and the Financial Stability Board (FSB). All across the globe although a lot has been done for ensuring food security but a lot still needs to be done towards ensuring nutritional security to all. Reports reveal that about 200 million people have gone below the poverty line and 75 million people having lost their jobs due to Covid. The challenge for us would also be to accelerate the pace of SDG Sustainable Development Goals as we will be midway through the 2030 agenda. Global efforts like food fortification, promotion and use of millets in daily diet have to be scaled up. India would also be under pressure to come up with a clear policy on Russia-Ukraine conflict. To forge unity among the member countries, governance reforms to promote inclusiveness and unity. Climate financing is another area that India needs to work on with the rich and developed nations. In 2009, they had committed to providing developing countries $100 billion a year. This commitment has not been adequately provided for. The developed countries have to be pushed for transfer of clean technologies and renewable energies developing economies and more to the vulnerable economies. Solar energy is another area where India can show way to the world as an effective strategy to tackle climate related changes and ultimately the increased temperatures.

            India has also to ensure that the decisions taken at Bali summit are enforced in letter and spirit. After three decades of pushing for compensation for 'Loss and Damage' caused by climate change, the 27^th Conference of Parties has adopted the proposal. The parties also agreed to utilize the Santiago Network, established at COP 25 and to establish and operationalize a Loss and Damage fund particularly for nations most vulnerable to the climate crisis. A ‘transitional committee’ has been formed to work out the modalities regarding who will manage the fund, whether contributions are expected from large developing countries and what the fair share of contributors will be. Besides Loss and Damage, COP 27 also saw the launch of a new five-year work program to promote climate technology solutions in developing countries. The countries also launched a package of 25 new collaborative actions in five key areas: power, road transport, steel, hydrogen and agriculture. UN Secretary-General Antonio Guterres announced a USD 3.1 billion plan to ensure everyone on the planet is protected by early warning systems within the next five years. India will also have to play a proactive role in all these developments.

            India has carried out a vast amount of digital transformation through the digital public infrastructure. India also has to guide and lead the world in health. By making and exporting the COVID vaccine to world, India has emerged as vaccine producer of the world as to how it did developed vaccine for COVID. Infact the global community has acknowledged that the vaccine developed by India saved billions of lives all over the globe. India also has emerged as skill capital with a lot being invested in creation and generation of enterprises in agriculture and allied sectors. With initiatives like Make in India, Vocal for Local and Digital missions India has also emerged as soft power to which all other democracies of the world look for guidance and mentorship.

            Through G20 Presidency, the country has become the voice of the developing world. We have to set the agenda for the entire world. It is for the world to react to that agenda.
No doubt, there are challenges; but with collective will and determination, an emerging country like ours will make this historic and path breaking moment an opportunity to prove itself and lead the world.