Explained: How India's presidency has reshaped G20
India's presidency has refocused the G20 on world development, especially for the Global South, bridging divides between Russia and the West and emphasizing diplomacy. Eva Kapoor explores the key achievements and focus of India's G20 presidency
FollowOn December 1, 2022, India had the privilege of assuming the presidency of the G20 Forum. The G20, or Group of 20, is an intergovernmental forum of 19 countries and the European Union, established in 1999 after the Asian financial crisis to discuss various global economic and financial issues. Since 2009, it has been designated as the “premier forum for international economic cooperation”.
The forum has a rotating presidency, and this year, India took the helm. With the G20 Summit -- and thus, the culmination of this year’s G20 proceedings -- in September, now seems to be the perfect time to look back at some of the key takeaways and achievements from India’s G20 presidency.
G20 Summit: India has changed how the world perceives it
The presidency’s theme of ‘Vasudhaiva Kutumbaktam’, or ‘One Earth, One Family, One Future’, emphasizes the interconnectedness of all living things on Earth and India’s goal to develop realistic solutions to global problems for the benefit of all.
Through focus sectors such as Lifestyle for Environment (LiFE), highlighting the importance of sustainable and responsible practices at the individual and national level, India aims to promote a collective approach to tackle complex and intertwined issues.
One key achievement of India’s presidency is that it has brought the focus of G20 back to world development, especially of the Global South -- a term commonly used to characterize underdeveloped or developing nations.
Last year, the focus had been on the Russia-Ukraine conflict and its immediate consequences. The conflict has been a source of deep contention for the delegations of G20, but India has maintained a neutral stance on it, serving to bridge the gap between Russia and the West and acting as a crucial peacemaker through times of unrest.
With its platform, India has chosen to present itself as the voice of the Global South, highlighting the issues that inhibit the development of the Global South and calling for action plans to approach these problems.
This diplomatic approach furthers the main goal of the G20 -- to move international coordination towards economic stability and prosperity. The G20, as such, does not have a permanent secretariat. It is instead supported by a ‘troika’ of the past, present and future holders of the presidency.
For 2023, the troika consists of Indonesia, India and Brazil: all members of the Global South. As the current holder of the presidency, India has a unique opportunity to bring the pressing issues of the Global South to the attention of the developed and powerful nations in the G20, and thus work on collaborative and practical solutions to these problems.
India’s presidency of G20 is an important moment for the nation, as India has the opportunity to set a new world order spearheaded by a vision of global equality and justice.
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