India’s maturity and position of global influence can serve the country well in leading and helping to discover answers to urgent global problems, despite the significant difficulties that lie ahead.
The G20 is a conference for important nations to discuss global concerns like climate change, international financial stability, and economic cooperation.
G20 countries account for more than 80% of global GDP, 75% of global trade, and 60% of the global population.
The G20 forum’s president has rotated annually among its member nations, and the nation holding the presidency is in charge of hosting all meetings and setting its schedule.
One Earth, One Family, One Future is the theme of India’s G20 Presidency, which runs from December 1, 2022, to November 30, 2023.
The G20 State Meeting Summit will take place in New Delhi on September 9 and 10, 2023.
The importance of India’s presidency
It gives India a platform to share its finest practices with the world and so serves as an example for the rest of the world. India will have the chance to show off how well its population has embraced technology and to share its approach with other nations.
Additionally, it gives India the chance to develop its soft power by inviting foreign delegations to the different events that take place in India.
It enables India to show off its influence in upholding good relations with the member nations.
It will support India’s efforts to push for the creation of a robust global value chain that promotes the “China plus one” approach and looks beyond dependence on China.
The challenges
During India’s G20 presidency, there will be pressure to find answers to the debt problem that many low- to middle-income nations are currently experiencing.
Both the current global financial situation and the impending recession must be handled.
Any significant move toward climate financing or a green transition will require India to press for specific action.
India will have a difficult time convincing all other members to accept the idea of reforming various international organizations, including the UN Security Council, the IMF, the World Bank, and the WTO.
India will need to establish a balance between the Western nations and Russia and China while it holds the presidency.
