India will assume the one-year presidency of the G20 on 1 December 2022. In Bali, Prime Minister Modi assured world leaders that India will work towards a comprehensive, ambitious, decisive and action-oriented policy during the G20 presidency. Prime Minister Modi outlined key themes and priorities and said the G20 needs to send a strong message of ‘peace and harmony’. Without this, the next generation will not be able to benefit from economic growth and technological innovation.
Hope, Harmony, Peace and Stability are the key ideas outlining the presidency of the G20 Group of the world’s most advanced emerging economies. The G20 offers India, the world’s fifth largest economy, a golden opportunity to shape global public opinion at a time of widespread polarization and escalation of geopolitical rigidity. India will work tirelessly to promote peace, stability and shared prosperity in a divided world.
The Group of Twenty (G20) was formed in 1999 and was originally a meeting of finance ministers and central bank governors to broaden the debate on policies useful in resolving the global economic and financial crisis.
As an economic organization, the G20 is a member of 19 countries. United States, Argentina, Brazil, Australia, Canada, Mexico, Turkey, Indonesia, South Korea, Japan, China, Germany, United Kingdom, India, Saudi Arabia, South Africa, Italy, France, Russia. In addition, the European Union (EU), International Monetary Fund (IMF), World Bank, International Monetary and Financial Committee, Development Committee, Finance Ministers and Central Bank Governors will also form part of his G20.
The establishment of the G20 is the result of the international community’s frustration that the G7 countries have not found solutions to the world’s economic problems. At that time, the view emerged that it was important to include middle-income countries and countries with systemic economic influence in discussions to find solutions to global economic problems. This group occupies a strategic position as it collectively accounts for about 65% of the world’s population, 79% of world trade and about 85% of the world economy. Various G20 meetings were discussed and resolved to solve the challenges affecting global economic growth, including finance, trade, infrastructure and investment, energy, employment, anti-corruption, development, agriculture, technology, innovation and the digital economy. A workaround is found.
The spirit of India’s G20 Presidency is expressed in the theme of ‘One Earth, One Family, One Future’ enshrined in the ancient Sanskrit spirit as ‘Vasudahaiva Kutumbakam’. The logo encloses the budding lotus and her seven petals, an earthly affirmation of the fundamental values of all life, whether human, animal, plant or microbe, and their interrelationships on the earth and the wider universe. is clasping. The lotus flower emblem in the G20 logo represents hope in these difficult times. Her seven petals of the lotus flower represent her seven continents of the earth and her seven musical notes. The G20 brings the world into harmony. The lotus flower represents Indian mythological heritage, faith and intelligence in this logo.
India sees the G20 Presidency as a vehicle for change and global transformation in times of multifaceted crisis such as food and energy security. As the world is engulfed in conflict and ordinary people’s livelihoods are at stake, India will use its G20 presidency to push for a resurgence of global growth, stronger climate action, a robust global health architecture, and more. , to arrive at constructive solutions to various challenges. As the pandemic pushes millions of people into poverty, it is imperative to support food and nutrition security. Accelerating the Sustainable Development Goals (SDGs) and leading the world to adopt green and sustainable lifestyles through Life for Environment (LiFE) will be key priorities in the coming months.
With strength in information technology, India is focused on building a digital architecture that includes becoming a carrier of socio-economic evolution. Promoting inclusive growth and financial inclusion will be key priorities.
The G20 is also an opportunity to showcase the glory and diversity of India, the world’s largest democracy. It also gives member countries the opportunity to demonstrate new heights of excellence in everything from economic development to science and technology, space, innovation and start-ups. India He hosts more than 200 her G20 related meetings in 56 different locations in India and brings delegates from different countries to visit this vibrant and diverse country. For many visitors, the G20 event will be their first taste of India. So every Indian should do their best to welcome the world and treat them as part of her one family. The G20 is vital for India because this international forum encompasses all her UNSC’s five permanent members, all her G7 members, and all her BRICS countries. The platform will help India showcase its developments and propose its model to the world as a potential solution. It has sound macroeconomic fundamentals. With its robust finances, burgeoning marketing and export trajectory, and determined climate leadership, India is a bright spot on the global horizon.
India’s challenges: India has taken office as president at a time when the world is facing a range of problems. With geopolitics at their peak, India’s navigation of these rocky seas seems like a daunting task. It poses a multi-faceted challenge to Member States and they will be eager to know India’s position on each issue. India has acknowledged the dire consequences of economic decline, rising global poverty and slow progress in achieving its Sustainable Development Goals. The G20 is a marginalized home, and some leaders have abandoned their responsibility to find peaceful solutions in Ukraine. The root cause must be addressed. In this regard, the stamp of Indian diplomacy by Prime Minister Narendra Modi’s statement that ‘these days are not war’ resonated well. A balanced outcome by opposing groups saved Bali Summit. India now faces the challenge of taking the initiative and bringing both parties to the negotiating table to end the conflict.
Bottom line: India articulated its vision at the G20 summit by arguing that without peace and security, the next generation will not be able to benefit from economic growth and technological innovation. India is now recognized as a world leader. The action-oriented and resolute presidential commitments underscored by Indian Prime Minister ) countries. India has already taken the lead on several fronts, notably digital public goods and their governance, self-reliance or Aatma Nirbhar, vaccine diplomacy, and technology to assert a firm stance on various geopolitical issues. As a result, the stage is set for India to strive for world peace, rules-based governance and prosperity for all people in this world.
The above views are those of the author.
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