On September 9–10 of next year, India will host the G20 Summit. Starting on December 1 of this year, India will also assume the leadership of the strategic multilateral forum, which unites established and emerging economies. Previously held by Indonesia, India will have the presidency from December 1, 2022, to November 30, 2023. The country will be hosting around 200 meetings across the nation.
What is the G20 Summit?
The “Summit on Financial Markets and the World Economy” is the official name of the G20 Summit. The G20 has consistently worked to achieve strong global economic growth as the “primary forum for international economic cooperation” (as agreed by leaders at the Pittsburgh Summit in September 2009). The G20 represents more than 80% of the global GDP.
The recent G20 summits have focused not only on macroeconomics and trade but also on a wide range of global issues that have a significant impact on the global economy, such as development, climate change, energy, health, counterterrorism, as well as migration, and refugees. As globalization advances and various issues become more intricately intertwined, these recent summits have become more and more important. Through its contributions to resolving global issues, the G20 has aimed to achieve an inclusive and sustainable world.
The members of the G20 are-
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom, the United States, and the European Union.
The main economies of the world are gathered under the G20. More than 80% of the world’s GDP, 75% of the world’s trade, and 60% of humanity are represented by its members.
The G20 presidency, which runs from December through the following November, is held by the nation hosting the summit. Additionally, the G20 presidency schedules meetings of pertinent working groups and ministers.
Negotiations Lead By India
In her most recent press briefing, White House press secretary Karine Jean-Pierre stated that Prime Minister Narendra Modi “made it clear that today’s era must not be of war,” referring to the Ukraine-Russia conflict that erupted in February of this year. She added that India played a crucial role in the negotiations leading up to the G20 Summit declaration.
Top world leaders attended the two-day G20 conference, which was held in Bali, Indonesia, and ended earlier this week. Among them were US Vice President Joe Biden and UK Foreign Secretary Rishi Sunak. One of the most important talking points was the conflict in Ukraine.
G20 Summit and India’s Priorities
India, Indonesia, and Brazil would make up the troika during our Presidency. Three emerging economies and developing nations would make up the troika for the first time, giving them a stronger voice.
India has set priorities and key points to discuss and push forward in the summit. These priorities are expected to initiate further conversations, not just at the summit, but throughout the summit in the rest of the world as well. The ongoing conversations have been around inclusive, equitable and sustainable growth. Though these topics have been in talks through the years, the world as a whole still lacks efforts and planning to achieve them. Nothing is set to stone as a “theme” or agenda yet, but the conversations will be around these points.
Women’s empowerment will also be discussed at the summit. Following the recent and ongoing movement by the strong women of Iran, women empowerment is still very much a topic that needs discussions and development, despite living in the 21st century.
Following the notion of sustainable growth, digital public infrastructure and tech-enabled development in areas ranging from health, agriculture, and commerce education are also on the agenda list.
Inclusivity is kept as a crucial conversation with developmental cooperation, the fight against economic crime and multilateral reforms are also on the checklist.
Relations And The Summit
India would also need to pay close attention to how US-China relations develop. After their one-on-one summit in Bali, leaders Joe Biden and Xi Jinping, stock markets throughout the world rose the following day (helped also in some measure by China dialing down its stringent covid lockdown rules). In addition, though they did not have a bilateral meeting, Xi Jinping and Indian Prime Minister Narendra Modi shook hands. They exchanged pleasantries against India’s tense relations with China over the previous two to three years.
Twitter And G20 Summit
Every highly opinionated person exists on Twitter. Ever since the announcement of the summit, there have been bubbling threads and tweets about it.
- Through this tweet, the plans of Agenda 30 were highlighted
- The Indonesian Health Prime Minister suggests a Digital ID to control the movement of people- if you are vaccinated or tested properly, you can move.
- Another about the countries Russia and Ukraine
Although it may be too soon to consider the G20 platform as a replacement for multilateral institutions soon, its influence may undoubtedly be used to improve chances for the Global South. Here is another reality check: it took at least 7-8 years for all of the aforementioned G20 triumphs to materialize.