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India's Stellar Leadership in the G-20 Summit
India is one of the founding members of the G-20 Summit which was established in 1999, following the Asian financial crisis. The Group of Twenty includes the European Union and 19 individual countries. India has acquired the presidency of the annual G-20 summit from December 1, 2022 to November 30, 2023. Upon acquiring this responsibility, Prime Minister Narendra Modi had made clear the ways in which India would lead the G-20 Summit. India followed the agenda of action-oriented decision making by being inclusive and ambitious. India’s list of priorities covered a wide range of objectives including the progress on SDGs, environment friendly development and LiFE, public digital infrastructure and technological transformation to name a few. Before the commencement of G-20 the leaders of the Summit had additional meetings to finalize the concrete agenda of G-20 Summit including 19 Sherpa, Finance Track and many Ministerial meetings. An international level meeting had been held in Srinagar for the first time after Article 370 was removed. It can be said that India’s presidency is a symbol of ‘Sabka Shakti’- following its agenda of inclusiveness.
Brand India:
India is the world’s fifth largest economy. As such, it has a major role in the world economic order and the future of the global economy. India’s leadership will give an opportunity to developing countries to advocate for their further advancements. Our Nation’s constant goal has been sustainable development, including climatic changes, renewable energy and biodiversity conservation. We have always advocated the importance of the interests of the rising economies of the world in the global-decision making process and will continue to do so during its presidency. India’s presidency gave the rising economies a platform to address their priority issues and concerns at a global level. The 2023 G20 New Delhi Summit was held on 9-10 September, 2023 at Bharat Mandapam International Exhibition-Convention Centre, Pragati Maidan, New Delhi. It was the first G20 Summit held in India.
PM Modi had stated that the theme of the summit would be “One Earth, One Family, One Future.” India also focused on global digitalization and financial inclusion issues. With its increasing progress in these areas and its expertise, India could set an inspiring example for other countries. P.M Modi quoted “Digital transformation is the most remarkable change of our era. The proper use of digital technologies can become a force multiplier in the decades-long global fight against poverty”. Women empowerment and prosperity was also one of the agendas discussed at the G-20. On this PM Narendra Modi had said, “When women prosper, the world prospers. Their economic empowerment promotes development. Their access to education drives global progress and their leadership promotes inclusivity and their voices inspire positive change.”
However, India’s presidency also came with a lot of challenges. India had to balance its own national interests alongside addressing global issues. Success at balancing this particular challenge ensured India’s stellar stance as president of the G-20 Summit. India also had to make sure that the geopolitical issues did not overshadow the economic issues. G-20 is a platform for addressing global economic issues. However, India came into presidency at a time when tensions between US and China were heightened. India’s capability in handling this tension also cemented its position as president of the G-20 Summit. Another major challenge for India was the scrutiny that it was under, from developed and developing countries alike. India had demonstrated its commitment to adhering to its principles of multicultural and economic cooperation.
G-20 is a mixture of different countries with their respective cultures, ideologies and beliefs. It was imperative to ensure consensus building among all these differently faceted countries. India had to make decisions that would lead to everyone present finding a common ground they could walk on. Dealing with key-issues of every country and finding a ground zero for everyone has become a major factor for India to prove its leadership.
PM Narendra Modi had stated at the G-20 Summit, “Today, the expectations of the whole world from India have increased a lot. Experts from all over the world and various international organizations are saying that India’s time has arrived.” His words ring true.
Jai Hind!
Written By: Ms.Debasmita Bhandari, PGDM, Batch (2023-25) ABBS School of Management.
Mentored by: Dr.Kamini Dhruva, Professor, ABBS School of Management
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Debasmita Bhandari