Rajya Sabha TV- India’s World: 13th G-20 Summit
- December 6, 2018
- Posted by: InsightsIAS
- Category: RAJYA SABHA VIDEOS
Rajya Sabha TV- India’s World: 13th G-20 Summit
(TOPICS COVERED: MAINS: GENERAL STUDIES II – INTERNATIONAL RELATIONS
PRELIMS: CURRENT EVENTS OF NATIONAL AND INTERNATIONAL IMPORTANCE)
For the first time, India will host the annual G-20 Summit in 2022 coinciding with the country’s 75th anniversary of independence. Prime Minister Narendra Modi made the announcement at the closing ceremony of the 13th G-20 Summit in the Argentinian capital Buenos Aires on 1st December 2018. Other than G-20 Summit, PM Modi also participated in the first trilateral meeting with his Japanese counterpart Shinzo Abe and United States President Donald Trump.
The second Russia-India-China ‘RIC’ Trilateral Summit also took place in the Argentinian capital after a gap of 12 years. Meeting was mainly characterized by warmth and positivity; the leaders also discussed cooperation and coordination in various areas, which could contribute to global peace and stability.
Group of Twenty (G 20)
- It is an international forum for the governments and central bank governors from 19 countries and the European Union.
- It was formed on 26 September 1999 to discuss policies relating to financial stability.
- Its agenda was expanded since 2008 including heads of governments / heads of states as well as finance ministers and foreign ministers.
- It thus, brings important industrialized and developing countries to discuss important issues in the global economy.
Takeaways for India:
It was the first meeting among the three leaders of Japan, India and USA. Currently, India’s relation with Japan and America are the best that they have ever been. All the three countries are democracies therefore, in terms of values; they are on the same page. What really brings them together at the moment is the convergence of interests such as ensuring stability, prosperity and security in the Indo-Pacific region. Greater importance was also given to India in terms of economic, political and security architecture by both the countries.
Free, open, inclusive and rules-based order is essential for the regional peace and prosperity. The Prime Minister also offered some ideas on how JAI countries should take forward on the concept of Indo-Pacific and how the three countries can work together to promote this concept. These meetings were useful and they should continue on the margins of subsequent G-20 meetings.
Japan, India and USA are also engaged in Quadrilateral Security Dialogue (initiated in 2007 and reestablished in 2017) in parallel with joint military exercises of an unprecedented scale, called Exercise Malabar. Such dialogues are important in providing a counterbalance to tensions created in South China by specially China.
In the last few years, China has expanded its influence and assertiveness in the region particularly in the South China Sea. It continues to create and occupy more islands and militarize them in the South China Sea despite opposition from the neighboring countries like Philippines and ASEAN as well. This has also brought India, US and Japan together.
Action on economic offenders
Prime Minister Narendra Modi presented a nine-point programme on ways to take action against fugitive economic offenders. India managed to push through a clause in the final communiqué which calls for a universal law which allows the assets of economic offenders in other nations to be frozen, and their repatriation expedited. This is significant given that some defaulters have fled the country after transferring assets abroad.
Leaders of India, China and Russia called for reforming multilateral institutions, including the United Nations (UN) and the World Trade Organization (WTO), as they understood the benefits of a multilateral trading system and an open world economy for global growth.
They also agreed to have regular consultations to jointly promote international and regional peace and stability, to strengthen cooperation through BRICS (Brazil, Russia, India, China and South Africa), the SCO (Shanghai Cooperation Organization) and the East Asia Summit (EAS) mechanisms, to address global challenges such as terrorism and climate change.
These trilateral meetings among the leaders where `I’ is the common factor is recognition of several facts including, “India as a global engine of economic growth and will be in top five economies of the world; stability in the region and recognition of India assuming leadership role on global issues of people’s concerns such as climate change, renewable energy, corruption and disaster resilient infrastructure.
Hunger, sanitation, health, higher education, skill, indigenous manufacturing base, environment and renewable energy might be some of the key areas where India can do something concrete till 2022 when G20 summit is hosted.
- South China Sea has assumed greater geopolitical significance in the present context. Explain. (12.5 marks, Question is to be answered in not more than 200 words)