G20 PRESIDENCY – What Will Be The Impact After The Foreign Affairs Meet ?
- History of the G20 SUMMIT
- Significance of the presidency to India
- Benefits of G20 Presidency for India.
- How India became Global Leader with the Presidency of G20 Summit.
- History of the G20 Summits
•Formed in the late early 2000s the G20 Summit is a group of intergovernmental forums consisting majorly nations that can shape the future of the world in terms of Geo-politics, economics, climate actions, terrorism, and other considerable dealings around the globe. - The forum constitutes of 19 member nations namely ( Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States) and the European Union.
- The main reason for the construction of the G20 forum was that the earlier G7 we not successful in finding efficient ways to tackle world issues and then thus realized the importance of including the developing and developed nations in a global forum.
- Each year the presidency of the G20 Summit is to a member nation, to ensure smooth functioning, just as if the most recent summit was being headed and hosted in Bali, Indonesia in 2022. This year the presidency is with India i.e. -2023.
- Significance of the Presidency to India
- Firstly, looking from a broader picture, India has been given the G20 presidency amidst geopolitical tensions whether it be the Russia-Ukraine conflict or it is the tensions of the China –Taiwan strait; Economic recession around the globe, and a global crisis of Food and Energy and a potential pandemic. In these times of tension, the global forums look upon the G20 summit with the hopes of finding out an efficient and swift way to drive the world in a better shape.
- India has a big responsibility of displaying what it is capable of achieving, given the necessary opportunity and recognition. The Honorable Prime Minister of India Mr. Modi during the G20 submission mentioned that in these times of crisis, the Indian presidency of the G20 will focus on an Inclusive, Ambitious, Decisive, and Asia Oriented Approach; the Prime Minister even focused on how crucial it is to keep women-led projects a priority during the Tenure and also focused on sustainable lifestyle aspects during his speech being addressed as the head of the forum.
- Benefits of G20 Presidency for India.
- Reports have mentioned the meetings for the G20 being held in the Indian territory of Jammu & Kashmir and Ladakh. This is a potentially strong move by the Indian Government to send a loud message on the global front to highlight that the Union Territory of Jammu & Kashmir and Ladakh is an integral part of the Territory of India. This message is essentially being sent to two of the most disputed neighbors of India, China, and Pakistan; and to the western nations and their media that portray the land of J&K and Ladakh as disputed land and does not consider it to be a part of the territory of India. So, just by attending the summit, they would be in a state of acceptance of the Because today’s world has a very polar outlook; i.e.- Either choosing to be the ally of a dominant nation or be its enemy, even to add that in the past
it was difficult to bring all the state leaders on the same table was a big change, considering that in 2022 Mr. Vladimir Putin denied joining the G20 Summit due to the tensions on the borders. In consideration of this India which is a nation that is very much respected in that sense and is considered to have a middle ground on every issue will surely be working as an issue resolver or at least bring the parties on the same page.
- How India became Global Leader with the Presidency of the G20 Summit.
- As today India stands as the 5th largest economy in the world and is estimated to be the largest country by population by 2030, with one of the largest standing militaries in the globe, India was being looked upon with so much respect because India was being able to produce its vaccines and not just supply it to their citizens but even supplied it affordable rates to under impoverished nations of the world and alongside this even take care of the food and financial needs during the onset of a pandemic; Thus, it is nearly impossible to ignore the fact that India in the upcoming decades will determine world politics and development.
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