16 November 2022, NIICE Commentary 8402
Ankita Bharadwaj
In a complex, changing, and increasingly contested world, the G20 has shown many ambitious expectations. The G20 which started as an informal grouping comprising 19 states and the European Union came into existence in September 1999. It was elevated to the level of the Heads of State in 2008, thus evolving into a major forum for discussing economies and other global issues. Every year, the leaders meet according to a rotating chair among their members and decisions are made by consensus. However, the implementation of its agenda depends on the political will of the individual nations. Among many other groupings, G20 is very important because not only do the members represent around two third of the world’s population but also 8.5 percent of global GDP, 80 percent of the global investment, and over 75 percent of global trade. The G20 summit is conducted through two tracks-Sherpa and Finance. The Sherpa track carries out the process of planning, negotiations, and implementation on various issues, while the Finance track focuses on economic and financial issues.
However, with the pandemic and the Russia-Ukraine war, the biggest criticism is rethinking the credibility of the G20. Not only there are disagreements regarding Russia’s membership in the forum, but it also reflects the inability to bring solutions to many global problems like food insecurity or climate change. Some major issues that lie today are reviving global economic growth, the rising unsustainable debt of a large number of middle and low-income countries, various environmental challenges, energy insecurities, a spike in international prices of oil, natural gas, food grains, etc. Issues of reforming the Bretton Woods institutions are also one of the issues that the G20 faces along with the others. Moreover, the idea of multilateralism, which forums like G20 represent is also challenged by many minilateral organisations, in order to find solutions for various global problems.
Expectations from India’s Presidency
With PM unveiling the logo, theme, and website of India’s G20 on 8 November 2022; massive expectations from India’s presidency have set in already. It is a ‘matter of pride and a great opportunity for the country in its 75th year of independence to take India’s leadership role to the international stage’, as PM Modi said during the ceremony. India’s presidency also came at the time when the world is facing a severe geopolitical and geo-economic crisis. Thus, one can expect that India’s priorities at the G20 forum will have to focus on an equitable and sustainable developmental approach. Foreign Secretary, Vinay Kwatra said that India’s evolving priorities will include green development, lifestyle for the environment, digital transformation, inclusive and resilient growth, women-led development, and a greater voice for the global south in economic cooperation and the need to reform the 21st century institutions.
India’s leadership and its ideals also give it an opportunity of being an effective instrument of global governance. India along with other strong members of G20 such as the USA, firmly believes that such forums are all about ‘creating real opportunity, greater equality, and a more secure, healthy and prosperous world’. G20, a strategically important multilateral economic caucus has the ability to re-shape the post-pandemic world order. Thus, India should utilise this opportunity to create a roadmap and focus on equitable, green, and resilient recovery.
However, one cannot also expect answers to all problems, as Dr Arvind Kumar, the President of India Water Foundation says, ‘a single year presidency does not empower the host to change the world’; but ‘India can provide evidence of its domestic success for global adoption’. The logo that India adopted is of the lotus, which represents shared knowledge, prosperity, and hope. India firmly believes that the G20 should be a shared space for dialogue. Ambassador Ina Krishamurthi, also emphasized that ‘if there is no dialogue, how can any issue between them be resolved’. The dialogue will also probably give a resolution to the internal crisis that G20 is facing as the banning of Russia from G20 seem very unlikely and any decision of such needs to be in consensus with all the members. On the other hand, the Bali Leader’s Declaration, adopted in the Bali Summit recently says that ‘today’s era must not be of war’. Thus, India’s role here should be very strategic and sensitive to find common grounds for diplomatic dialogues.
Climate, environment, and energy security are some of the issues that India needs to steer very wisely. Initiatives like the Green Grids Initiative (One Sun, One World, One Grid) is a very inspiring example of collaboration on the optimal use of renewable resources, ensuring that clean and efficient energy is a reliable alternative for all countries to meet their energy requirements. India should bring together its fellow nations with more inclusive and trans-border frameworks because the environment is for all. Sustainable use of resources and the creation of green and blue economies are the future of a balanced development. Thus equitable ideas as such should be on India’s G20 agenda. The very theme that India has adopted for its presidency is “One Earth, One Family, and One Future’ which also reflects on such inclusions and co-operation. It not only aims for equitable growth but also ensures common goodwill amongst all nations.
Despite multiple challenges, India is on track to become a USD 5 trillion economy. With such growth after the pandemic, Samir Saran of ORF also highlights that India is emerging as the world’s first and largest truly digital economy. This model of growth is uniquely Indian and it not only provides the citizens to unleash their entrepreneurial potential but also produces value by using digital goods. It is expected that India’s digital economy will cross USD 800 billion by 2030. And such a boost has always been a core G20 initiative. Thus, India’s presidency will also be a reflection of its domestic abilities and inspiring models of growth for the ‘Global South’.
India’s own decentralised planning and governance model too can be expected to reflect in G20 partnerships. It must aim to synthesise divergent interests of all constituents of the forum and leverage the ability to develop multi-layered governance through access to experts, civil societies, politicians, policymakers, and other non-state actors. No doubt India’s presidency came at very crucial hours, but it gives India an opportunity to act as a prime mover to envision new ideas and accelerate collective action.
Ankita Bharadwaj is a PhD Scholar at Department of Political Science, Dibrugarh University, India.
