Theme : Significance of G20 countries ; International Relations.
Paper:GS-2
TABLE OF CONTENT
- Context
- G-20
- What are the Current Issues
- Thematic Priorities of India’s G-20 Presidency
- Steps India can take
- Road Ahead
Context : India formally assumed the G20 Presidency. The Prime Minister said that India looks forward to a Presidency of healing, harmony and hope.
G-20 :
- The G20 is an informal group:19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
- The G20 Presidency rotates annually: according to a system that ensures a regional balance over time.
- For the selection of the presidency: 19 countries are divided into 5 groups, each having no more than 4 countries.The presidency rotates between each group.
- Every year the G20 selects a country from another group to be president.India is in Group 2 which also has Russia, South Africa, and Turkey.
- The G20 does not have a permanent secretariat or Headquarters.
What are the Current Issues :
- Covid-19 pandemics: It has impacted most of the national economies
- Developing countries: are facing an extended, multi-faceted shock of great magnitude.
- Stalled negative economic growth
- Financial and liquidity crunch
- External debt crisis
- Increased poverty
- Worsening of social indicators and inequality.
- The UN says: the world is off track on the Sustainable Development Goals (SDGs).
- Digital divides between the developed and developing nations and within countries, regions and genders have widened.
- Climate-change disasters and conflicts
- The Taliban takeover of Afghanistan
- Ukraine-Russia war
- Food, fuel and fertilizer crisis
- Inflation-recession.
- Terrorism persists: the zero-tolerance stance and counterterrorism focus of the international community seems diluted.
- China: Continued Chinese muscle-flexing
- Rise of Covid crisis in China again.
- North-south divisions within the G20
Thematic Priorities of India’s G-20 Presidency :
- Technological transformation and digital public infrastructure
- Accelerating progress on SDGs
- Lifestyle for environment (LiFE), green development and climate finance
- Accelerated, inclusive and resilient growth
- Women-led development and multilateral institutions for the 21st century
- Finding solutions for the “3 Fs: food, fuel and fertilizer-related crisis.
Steps India can take :
- India can build on the decisions and mechanisms of previous summits.
- Mobilizing global solidarity for solutions to pressing problems of humanity.
- India’s multi-alignment can be leveraged to bridge systemic and ideological differences and spark a “mindset change”.
- India can drive consensus on key reforms of the UN, World Bank, IMF etc.
Road Ahead :
- India is seen as a bright spot in the global economic horizon. It can play a “lighthouse role” by regionalisation and globalizing its achievements.
- India can offer proven solutions and be a transformer of the Global South: From social justice projects, digital transformation, climate and environmental activism to pandemic and disaster relief etc
- PM’s LiFE initiative: global high-level principles and the creation of an ecosystem of government and businesses covering demand, supply, policy signals and economic framework could be envisaged.
- Assessing and securing low-cost funding(public and private) for the future trajectory of climate-friendly/green development and clean energy technologies could be game changing.
- India’s robust, inclusive and interoperable digital public infrastructure model, which has driven inclusion across finance, health and education, would be of immense value if it were replicated in the Global South.
FAQs :
-
What are Thematic Priorities of India’s G-20 Presidency?
ANS.
- Technological transformation and digital public infrastructure
- Accelerating progress on SDGs
- Lifestyle for environment (LiFE), green development and climate finance
- Accelerated, inclusive and resilient growth
- Women-led development and multilateral institutions for the 21st century
- Finding solutions for the “3 Fs: food, fuel and fertilizer-related crisis.
-
What is G-20 grouping?
ANS.
- The G20 is an informal group:19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
- The G20 Presidency rotates annually: according to a system that ensures a regional balance over time.
- For the selection of the presidency: 19 countries are divided into 5 groups, each having no more than 4 countries.The presidency rotates between each group.
- Every year the G20 selects a country from another group to be president.India is in Group 2 which also has Russia, South Africa, and Turkey.
- The G20 does not have a permanent secretariat or Headquarters.