Fri, 08 Dec 2023

New Delhi [India], November 29 (ANI): India's G-20 presidency comes at a crucial time when the world is in the process of a geopolitical shift amid the Russia-Ukraine war and a troubled global economy inching toward recession. India will be presiding over the G20 for the first time since its inception.

India is all set to assume the G20 presidency on December 1.

The G20 reflects an emerging world order by bringing the G7 together with other major economies as equal partners. In the emerging global order, India is well poised to play the role of a leading power. India sees the G20 presidency as an opportunity to forge consensus on key global issues, set rules and shape outcomes. While unveiling the logo of G20, the Indian PM emphasised the principle of 'Vasudhaiva Kutumbakam' by stressing the mantra of "One Earth, One Family, One Future." Taking a cue from its own multicultural democracy, India shall be striving to move the world away from polarisation towards solidarity.

Through its G20 Presidency, India hopes to extend the principle of the global common good and universal brotherhood to find sustainable solutions to some of the key global challenges. India will set the agenda for priorities of vital importance in sectors ranging from energy, agriculture, trade, digital economy, employment, environment and health, anti-corruption, countering terrorism, and women empowerment as well as focus areas that impact the marginalized and most vulnerable. India will also be bringing into the G20 discussions a focus on Disaster Risk Reduction, climate financing, green hydrogen, and reforms in multilateralism.

As India inherits from Indonesia the G20 Presidency full of challenges, India has the chance not only to showcase its global leadership and statesmanship but also to turn adversities into opportunities. Given the pressing challenges of post-pandemic effects, climate change problems and a need for a clean energy transition, India must highlight its global leadership regarding low-cost vaccine technology, universal immunisation programme, generic drugs production, and solar energy, amongst others.

India has not only delivered over 16 crore doses of the COVID-19 vaccine to around 96 countries thus far, but along with South Africa pushed for temporary suspension of Intellectual Property Rights(IPR) on vaccines in the WTO so that vaccines can be cheaply produced and delivered to poor and least developed countries. Due to its efforts, the WTO in its 12th Ministerial Conference in 2022 gave a limited IPR waiver for Covid-19 vaccines.

With regard to climate action, India at UNFCCC COP-26 in Glasgow announced five sets of resolutions (Panchamrit) to curb carbon emissions that included achieving a net zero carbon by 2070 and meeting 50 per cent of electricity requirements from renewable sources by 2030. This resonates with Indian PM Narendra Modi's emphasis that the environment is a global cause as well as personal responsibility. India shall be using the G20 platform to propel developed countries into mobilising the climate finance meant for developing and least developed countries which are most vulnerable to climate change effects. Regarding the Ukraine-Russia war and its effect on oil prices, food inflation and deteriorating geopolitics, India may also use the G-20 platform to help reduce the tensions by leveraging its historical ties with Russia and its strategic partnerships with the EU and the USA.

India will certainly use the presidency to focus on climate action, energy security, improving public health systems and accelerating the 2030 Sustainable Development Goals. India can thus use the platform constructively. With the upcoming Troika5 of Indonesia, India and Brazil (representing previous, present and upcoming G20 Presidency) representing emerging economies, it is also an opportunity to give them a greater voice. It may also help shift the balance of power within the G20 and give developing countries a greater share in decision-making at the grouping. India's presidency, therefore, augurs well for a move towards a more inclusive and equitable functioning of the G20.

In view of the devastating impact of the pandemic on employment in culture, several countries emphasized the need for new economic models, notably for cultural tourism. When the global commitment has to place culture at the core of the policy spectrum with a view to building back better is expected to be further reinforced. By hosting such a high-profile international event at a time of international turbulence, India is signalling its intent to think and deliver big with its effective leadership, India can rejuvenate the degrading multilateral order. Indian presidency is also an opportunity for the existing multilateral order to retain its credibility at the global podium with concerted efforts. (ANI)

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