Source: Indian Express, The Hindu
- Prelims: Current events of international importance, G20, Global south, Inflation etc.
- Mains GS Paper II & III: Significance of G20 countries, Bilateral, regional and global grouping and agreements involving India or affecting India’s interests.
ARTICLE HIGHLIGHTS
- India formally assumed the G20 Presidency, from
- The Prime Minister said that India looks forward to a Presidency of healing, harmony and hope.
- Charles Dickens novel-A Tale of Two Cities: “It was the best of times, it was the worst of times… it was the spring of hope, it was the winter of despair.”
INSIGHTS ON THE ISSUE
Context
G20:
- 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 G20 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.
What steps India can take?
- Previous summits: 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.
How can G20 help to furnish these objectives?
- G20 could adopt actionable norms and policies
- Grow data and knowledge hubs and best practices
- Launch mechanisms for financing and implementation
- Advocacy campaigns
- Impactful programmes on the ground — individually, collectively and for the benefit of the Global South.
Way Forward
- The ability to come together and agree on key reforms and means of implementation in the economic, financial and political order could make the difference between the world hurtling into calamity or making exponential progress towards peace, prosperity and environmental sustainability.
- India is seen as a bright spot in the global economic horizon. It can play a “lighthouse role” by regionalisation and globalising 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.
- PM seeks to drive a veritable “Jan Andolan: A people’s movement based on being “One India” as much as “One Earth, One Family, One Future”.
- Voice of the Global South Summit’ under the theme – ‘Unity of Voice, Unity of Purpose: It essentially envisages bringing together countries of the global south and share their perspectives and priorities on a common platform across a whole range of issues,”
QUESTION FOR PRACTICE
Q. The long sustained image of India as a leader of the oppressed and marginalized nations has disappeared on account of its new found role in the emerging global order.’ Elaborate(UPSC 2019) (200 WORDS, 10 MARKS)
