Posted: Post Date – 12:30 AM, Sat – 11/12/22
India will take the helm of the G20, an informal group of 19 countries and the European Union (EU), at a time when the world is going through upheaval marked by military conflict, economic uncertainty and the aftermath of a devastating pandemic. From December 1 this year to November 30, 2023, India will assume the presidency of the G20, a testament to its growing influence in international geopolitics. With that comes many challenges. A major task is to initiate G20 reforms, develop strategies to reduce inequality, reshape the global green agenda and prevent debt-related crises. During its presidency, New Delhi will host 200 Forum meetings across the country. India’s leadership in the bloc comes at a turning point in contemporary history when the international community faces multiple challenges politically and economically. The Ukraine conflict has damaged relations between Russia and Western industrialized nations, most of which are members of the G20. India, as president, has a great responsibility not only to advocate for its own agenda, but also to forge a beneficial path for the peoples of other developing countries currently struggling between the machinations of global powers, economic headwinds and the adverse effects of the climate crisis. India is uniquely positioned in the world to understand the priorities of developed countries and understand the challenges and ambitions of developing countries, enabling it to act as a bridge to meet expectations.
India’s decades of support for causes in the global South and poorer countries have made it a leader in developing countries. As the helm of the G20, it needs to work to make the group more representative and cohesive than it is today. Rotating members will open the group’s doors to a wider range of countries. While the G20 is more inclusive by design than the G7, it’s still not quite as inclusive. Ideally, the selection of temporary members should be based on transparent criteria such as economic size or population. Substantial challenges that must be addressed include the rising unsustainable debt of a large number of low- and middle-income countries; the continued underperformance of promised climate finance in rich countries, which have historically had a disproportionately long negative impact on the environment; green Fiscal and other challenges posed by the energy transition and global food insecurity. Today’s world is moving towards multipolarity and rebalancing. As its presidency of both the G20 and the Shanghai Cooperation Organization has shown, India stands ready to engage with all parties and is not afraid to secure its broad interests.
