NEW DELHI: With the MEA announcement of the schedule for the G20 Leaders’Summit under India’s presidency, things have started moving in fast gear. India will assume the year-long presidency of the premier global forum on December 1 this year. The G20 Leaders’ Summit, the annual meeting of the Heads of State/Government will be held on September 9 and 10, 2023 in New Delhi, the Ministry of External Affairs announced earlier this month.
As one of the largest and fastest developing countries, the core priority for India lies in the field of data and digitalisation as it holds key to identifying vulnerabilities and coming up with problem-centric approach. Another area of importance is linkage of development, climate discourse, renewable energy and emission commitments.
Moreover, financial inclusion, capacity-building and sustainable jobcreation hold the key for a smooth transition for India from a developing nation to a developed country. Hence, India’s priorities are aligned with the needs and demands of developing nations.
India, Indonesia and Brazil would form the troika during India’s presidency of G20. It will be the first time that the troika would consist of three developing countries and emerging economies.
The G20 is an inter-governmental forum of the world’s major developed and developing economies. It comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA and the EU. Collectively, it accounts for 85 pc of global GDP and 75 pc of international trade. The G20 forum entails:
- Finance Track, with 8 workstreams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms)
- Sherpa Track, with 12 workstreams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, Tourism)
- 10 Engagement Groups of private sector/civil society/independent bodies (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20 and Youth 20).
- Apart from the G20 members, there has been a tradition of the G20 presidency inviting some guest countries and International Organisations (IOs) to its G20 meetings and Summit.
Accordingly, in addition to regular international organisations (UN, IMF, World Bank, WHO, WTO, ILO, FSB and OECD) and chairs of regional organisations (AU, AUDA-NEPAD and ASEAN), India will be inviting Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as guest countries. Besides, ISA (International Solar Alliance), CDRI (Coalition for Disaster Resilient Infrastructure) and ADB will be the guest international organisations.