The summit addressed pressing global challenges such as economic disparities, environmental degradation, food security and poverty alleviation
The nineteenth Summit of the G 20 held recently in Rio de Janeiro, Brazil holds a lot of significance in raising the voice of the Global South. In addition to the 19 member states, this summit also had two more members which included the African and the European Unions. Amid uncertainty on account of West Asian crises and the ongoing Russian-Ukraine conflict the summit focused on two pertinent issues: the increasing economic disparities and the degradation of the environment besides, the question of food security and poverty alleviation have also become paramount topics of the agenda for a stable and peaceful world order.
In the wake of the economic crisis of 1997, the G-20 Group was formed in 1999 with the basic purpose of uplifting the economies from economic doom and since then economic aggrandizement has been the central point of discussions in all the G-20 summits. The Group of 20 includes an amalgamation of the most powerful as well as the developing countries of the global order like: the United States, France, China, India, Japan, Germany, Russia, the UK, Brazil, Canada, Italy, Indonesia, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Turkey, Argentina, Australia.
Adding Spain as a permanent guest of the G20 and the recent inclusion of the African Union and the European Union has extended its scope and area of influence.
The latest meeting of G 20 is important from the point of view that now countries of the south started giving a major push to their innate aims and the latest in the series is the idea of green industrial planning and strategies.
The increasing demand for bringing about a few reforms in the major international monetary and governing institutions such as the World Bank, IMF the WTO and the Security Council of the UNO indicates the changing dimensions of the Group as now there seems to be a shift towards a more transparent and inclusive world system beside the Cultural Contiguity and exchanges about energy resources are some new take away of the G 20 meetings. On the other hand, the member countries have increasingly realised the need for sustainable development along with increasing concern for deadly spikes of increasing temperature across the globe. The fullest utilisation of modern technology in the economy such as the digital economy remains another important topic that can play a magnificent role in upgrading the old pattern to save valuable time. The rich experience of India in promoting brotherhood and uplifting standards particularly from developing countries to undoubtedly a developed nation is a lot to learn from.
India’s remarkable progress in the IT industry has opened new doors for Indian companies, which are now aggressively expanding into overseas markets.
The country’s compliance and regulatory authorities have ensured that foreign investments are secure and economic transactions are monitored thoroughly. Despite the challenges posed by a tough global economic climate, India’s G20 Presidency during 2023 had already provided it with an opportunity to position itself as a key player in global manufacturing and a reliable partner in various sectors. The cooperation among G20 nations has also fostered the development of new strategies to meet the needs of vulnerable countries, fostering a more inclusive global society.
This cooperation could promote a positive shift in international relations, promoting greater harmony and collaboration. India’s impressive progress is largely attributed to its incredibly foresighted leadership, immense talent and superb foresight. The setting up of the International Solar Alliance, the Green Hydrogen Innovation Centre, One Sun One World One Grid. and the Global Biofuel Alliance along with the waste-to-energy efforts of India speaks volumes of its being the front leader among G 20 Countries. Prime Minister Modi has very well highlighted the remarkable efforts and achievements of India in his speech.
He is undoubtedly the most respected and popular leader of World Politics who has made India the leading voice of the Global South. Gradually the scope of G 20 partnership has expanded to include critical areas such as disaster management, digital infrastructure, and climate change, making it a multifaceted initiative with both security and development dimensions as these are also some issues that are raising concerns about the international community. However, the G-20 countries are also navigating through social and political pressures and their success will depend on how these countries maintain growth momentum amid numerous challenges. By addressing these challenges on account of socio, cultural economic and political pangs, the G 20 can further solidify its position as a global economic powerhouse, capable of driving growth not only among member countries but also able to create an inclusive world order.
By fostering diplomatic engagement and conflict resolution mechanisms, the G 20 group members may also promote stability while ensuring economic prosperity for all member nations. The group’s shared strategic vision is vital in shaping a multi-layered, multilateral strategy for dealing with not only economic but also security challenges in an increasingly interconnected world.
The G 20 can also become a platform for fostering development in fields such as education, science, biotechnology, and strategic planning, further strengthening the bonds between its members and slowing the entire world community and India is playing front runner’s role with the ablest leadership at the helm.
(The writer is a professor and expert on strategic affairs; views are personal)
