India’s G20 Presidency
Prof. Rasal Singh
On 1st December 2022 India formally took over the presidency – which rotates annually between members – of the Group of Twenty countries constituting the most powerful intergovernmental forum, known as G20. The presidency for the year 2023 was handed over to India by Indonesia in the recently concluded Bali summit. The illustrious group together account for over 80% of global GDP, 75% of global trade and 60% of the world’s population. G20 is truly enormous, and the mandate it carries, can potentially re-establish institutional credibility. For countries like India, the G20 is a unique global institution, where developed and developing countries have equal stature. Here, the latter can display their global political, economic, and intellectual leadership on par with the world’s most powerful countries. Thus, heading this world’s most influential multilateral forum is an occasion for national rejoicing and is projected as a symbol of India’s growing global stature and prestige, capable of straddling the North-South divide. In its first ever global leadership role, India’s long-awaited moment to lead and spearhead new policies at the negotiating table has arrived. Where it uses its new position to secure green investment and shift global governance to the benefit of the “Global South,” a grouping that largely includes lower-income nations in Latin America, Asia, Africa, and Oceania.
However, the presidency came at a time of geopolitical tumult, uncertainty over post-pandemic economic recovery and the looming crisis of climate change. The Russia-Ukraine conflict has vitiated relation between Russia and the industrialised Western countries, most of which are members of the G20. The conflict and the resulting unilateral sanctions imposed by the West has upset the post pandemic global recovery, sharply impacted oil, and gas prices as well as food availability. The impact of rising unemployment and increasing inflation is felt most sharply by the most vulnerable, the developing countries, LDC’s. According to the World Bank, global growth is estimated to slow down considerably from 5.5 % in 2021 to 4.1 % in 2022, and 3.2% in 2023 as backlogged demand fritters and fiscal and monetary support are phased across the world. Because of its impressive performance in handling the shocks of the Covid-19 pandemic and the Russia-Ukraine conflict, India has emerged as a beacon of hope in an otherwise dark and gloomy global scenario. The world is looking out to the G20 and to India’s presidency to try to come up with some solutions, both short and immediate, shock absorbers and as well as to regain and maintain focus on medium and longer-term issues.
Presiding G20 Forum in 2023 is a fitting aspiration and a welcome challenge for India. India should use its G20 presidency to pursue its thought leadership role and the broader goal of reducing polarisation, channelise resources in an inclusive manner, and firm up optics in favour of developmental priorities. India is committed to focusing on issues of critical importance to the world. The theme identified by India for its presidency is ”One Earth, One Family, One Future.” This flows from the philosophy of “Vasudhaiva Kutumbakam” (The World Is One Family) which appears in our ancient scriptures and forms the foundation of our foreign policy. During its term, India will hold more than 200 meetings across some 50 cities involving ministers, officials, and civil society, leading up to a marquee summit in the capital, New Delhi, in September 2023. The summit will be attended by about 30 heads of state and government, from G20 members and invited countries. Against this backdrop, New Delhi is expected to highlight the need for unity and cooperation to resolve the major global challenges.
A major economy and a developing nation with an evolving democracy, holding its head high into the 76th year of its independence, India has the unique opportunity to set ‘Agenda 2023’ with a focus on equitable green, and resilient recovery. India will set the global economic governance agenda for the year, a unique opportunity for the country to shape the international policy discourse and align its national priorities with its global aspirations. According to the Ministry of External Affairs (MEA), under the G20 Presidency, India plans to focus on the following areas: “women’s empowerment, digital public infrastructure, health, agriculture, education, culture, tourism, climate financing, circular economy, global food security, energy security, green hydrogen, disaster risk reduction and resilience, fight against economic crime and multilateral reform. As we further narrow down the agenda, it becomes clear that India’s presidency will focus on climate finance, energy security and green hydrogen in the energy sector. India’s G20 Sherpa Amitabh Kant reiterated that the developed world has taken limited climate action, including on climate finance, which will be a key discussion point during India’s G20 presidency. Further, India must pivot discussions around knowledge and technology exchange, standardisation, and political neutrality in energy.
India figured among the top 10 high performers in the Climate Change Performance Index in 2020 whereas big polluters such as China and the United States (US) figured much below in the list. The issue of climate change and action plan will deepen India’s position in G20 and beyond. India will aspire to deliver outcomes in areas of critical interest such as integrating the climate and development agenda and accelerating progress towards achieving the SDG 2030 mandate. Quest for sustainable development is fundamental. India’s net zero target of 2070, reduce the projected carbon emissions by one billion and meeting 50 per cent of its energy requirements from renewable energy by 2030 is most welcome. India would also like to promote the outreach and potential of its initiatives in the climate change and disaster risk reduction spheres as envisaged in the International Solar Alliance and Coalition for Disaster Risk Initiative projects. As chair of the G20, India will discernibly push for the provision of finance and technology as critical enablers for achieving the climate goals set by the Paris Accord. Sustainability, a personal mantra promoted by PM Modi, and reflected in the G20 declaration on sustainable consumption and responsible production patterns, should also see emphasis. The recently concluded COP27 announced a ‘loss and damage fund’ specifically to support vulnerable countries with limited resources to fight climate change. Carrying this forward, under India’s presidency, the emphasis on more effective targeting of financials to support clean economy is expected to be reaffirmed at the G20.
It is an unprecedented opportunity to shape the global narrative in favour of reducing the carbon footprint and encouraging green energy and digitalisation as significant components of transformational changes. India has set a good example by taking several measures to meet its climate commitments: these aim to reach non-fossil energy capacity of 500 GW and meeting 50 per cent of its electricity requirements from renewable energy by 2030. A continuing expansion of its indigenous nuclear power programme and a rapid move towards the use of solar and wind energy for electricity generation are steps in this direction. India’s ability to forge partnerships and friendships across today’s polarised world can help it bring energy transition issues into sharper focus. A lot will depend on how ideas trickle down to action and finally impact the world. New Delhi’s traditional approach of conservation and responsible consumption can be demonstrated to foreign visitors during its G20 presidency as insight on sustainable lifestyles. The prime minister, too, has encouraged all citizens down this path as part of his call for LIFE or “lifestyle for environment” during the 26th United Nations Climate Change Conference of Parties (COP26) in Glasgow, 2021. The Presidency could drive the climate and energy transition agenda by instituting bold domestic and global initiatives that are concrete and bring real change on the ground.
As the world’s largest democracy, the third largest economy of the world in Public private partnership terms and 2nd most populous country of the world, India will make a meaningful contribution in the G20 to support faster, sustainable, and inclusive growth. The G20 Presidency would place India on the global stage and provide an opportunity for India to place its priorities and narratives on the global agenda. It would also provide a unique opportunity to showcase India’s progress and developments as well as its rich culture heritage and diversity. India’s G20 presidency is the best hope for the world in its fight against the climate crisis and work towards acquiring sustainable goals. While India must negotiate its vital interests in highly complex climate negotiations, the world is now ready to listen and follow India’s strategic and vision-led initiatives. There is a vacuum in the thought leadership space, and this is the best opportunity for India to take the lead.
(The author is Dean, Students’ Welfare, Central University of Jammu.)
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