INDIA AND G 20

It was December 1st, 2022, when Prime

Minister Modi held the gavel of the G20
presidency for one year from his Indonesian
WHAT IS G 20 counterpart in Bali. The G20 is particularly
The Group of Twenty (G20) is the important for a celebratory country like India,
premier forum for international economic known in Sanskrit as “Utsavdharmita”, which
cooperation. It plays an important role in loves to celebrate and showcase its cultural
shaping and strengthening global architecture diversity on the global stage. During its
and governance on all major international presidency of the G20, India will have the
economic issues. India holds the Presidency of opportunity to shape the global agenda and
the G20 from 1 December 2022 to 30 promote its priorities. Prime Minister Modi has
November 2023. stated that his focus will be on promoting
inclusive and sustainable growth, improving
INCEPTION OF G20 digital infrastructure and access to technology,
The G20 was founded in 1999 after the and strengthening the global trading system.
Asian financial crisis as a forum for the
Finance Ministers and Central Bank THEME OF INDIA’S G20 PRESIDENCY
Governors to discuss global economic and I. India’s theme for its G20 Presidency,
financial issues. “Vasudhaiva Kutumbakam” (One
Earth - One Family - One Future) is
ELEVATION TO LEADER’S LEVEL aiming to build unanimity to address
The G20 was upgraded to the level of global challenges collectively and
Heads of State/Government in the wake of the effectively.
global economic and financial crisis of 2007, II. As a leading development partner of
and, in 2009, was designated the “premier India, ADB is supporting India’s G20
forum for international economic Presidency on its key priorities:
cooperation”. The G20 Summit is held supporting cities as engines of
annually, under the leadership of a rotating economic growth, clean energy
Presidency. The G20 initially focused largely transition, and shaping a global health
on broad macroeconomic issues, but it has agenda.
since expanded its agenda to inter-alia include III. India has an important opportunity
trade, sustainable development, health, during its G20 Presidency to establish
agriculture, energy, environment, climate a legacy of success across these critical
change, and anti-corruption. challenges and it has friends that it can
rely on for support.
G20 MEMBER COUNTRIES
As of 2023, there are 21 members in INDIA'S G20 PRIORITIES
the group: Argentina, Australia, Brazil, India has identified a wide array of
Canada, China, France, Germany, India, cutting-edge priorities that are being
Indonesia, Italy, Japan, Mexico, Russia, Saudi deliberated by various G20 working groups, to
Arabia, South Africa, South Korea, Turkey, help address the key challenges we face and to
the United Kingdom, the United States, the plan for a better future. Let me highlight three
European Union and the African Union. of them.
The first agenda relates to financing
tomorrow’s cities and establishing them as the
foremost engines of economic growth. While India has made efforts for the G20 to focus
cities generate over 80% of global gross on the need to expand and diversify critical
domestic product, unplanned and rapid minerals and renewable energy supply chains
urbanization constrain their economic for economies to secure uninterrupted and
potential. It is estimated that by 2050, nearly affordable access to renewable energy and
twice as many people will live in cities. To energy storage, both prerequisites for the
sustain their economic potential, cities need to overall transition to net-zero emission.
become more livable through upgraded The third agenda relates to health care. The
infrastructure and services, such as reliable COVID-19 pandemic highlighted the
water, transport, power, waste management, compelling need for a united global approach
and affordable housing. to fortify health systems to effectively address
Cities must also be nurtured as hubs emerging health crises. India’s G20
for entrepreneurship, jobs, and skill Presidency is a medium of change towards
development. This requires massive more resilient, responsive, and sustainable
investments in smart, sustainable, and resilient health systems and to advance previously
urban infrastructure. Globally, roughly $5.5 established G20 pandemic preparedness
trillion needs to be invested in urban efforts.
infrastructure annually over the next 15 years. G20 can help shape a global health
The private sector is an important partner in agenda focused on ensuring universal,
these needed investments. The G20 platform affordable, and quality health services. Giving
could be used to mobilize international priority to enhancing health emergency
support to bridge this financing need. prevention and preparedness (with focus on
The second agenda where India can One Health and linkages between climate
lead the way is in energy transition. Enabling change and health), strengthening cooperation
an orderly and just transition from carbon- in the pharmaceutical sector, and leveraging
intensive energy to renewable energy would digital health innovations and solutions to aid
not only help combat climate change, but also universal health coverage, is critical.
help bolster energy security, raise economic
productivity and create jobs, improve INDIA’S INITIATIVES
environmental outcomes, and prune health
costs. In other words, decarbonization is India has launched several initiatives to
development. promote renewable energy, such as the
Today, India is the world’s third-largest International Solar Alliance, which aims to
producer of renewable energy, with further mobilize $1 trillion of investment in solar
expansion underway. India’s success in energy by 2030, and the National Clean Energy
scaling up solar energy, along with recently Fund, which finances clean energy projects. By
announced programs such as the National sharing its experiences with other G20
Hydrogen Mission, Production-Linked countries, India can help accelerate the
Incentives for electric vehicles and the transition to a more sustainable energy system
manufacture of solar technologies and battery and promote global environmental
energy storage, and incentive mechanisms for sustainability.
supporting offshore wind, all allow the
country to lead by example and drive global ----- x-----
collaboration to reduce the cost of achieving
net-zero emission. CLASS X (SS) : NOTES (DSAV-CHENNAI)