G20 Head of States Summit: In the spirit of One Earth, One Family, One Future
India’s first-ever G20 presidency marks a significant milestone in its global leadership journey. The annual G20 Summit assembles leaders from the world’s top 20 economies, offering a platform to discuss international economic and financial issues, harmonize policies, and confront shared challenges. The 18th Heads of State and Government Summit of the G20 will be held on September 9 & 10, 2023, in New Delhi, India.
India is focusing on various issues like inclusive growth, digital innovation, climate resilience, and equitable global health access. By leveraging its presidency, India is fostering collaborative solutions that not only benefit its own population but contribute to the broader global well-being, reinforcing its spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’. Under India’s presidency, the forum will have the theme, ‘One Earth, One Family, One Future’.
Image Credit: PIB
G20 Presidency: India’s global leadership role
The G20, also known as the Group of Twenty, is an intergovernmental forum that brings together the world’s most significant developed and developing economies. It consists of 19 individual countries, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, and the USA, along with the European Union (EU). Together, these nations collectively account for 85% of global GDP, conduct 75% of international trade, and are home to approximately two-thirds of the world’s population. This positions the G20 as the primary platform for international cooperation on economic matters.
India has assumed the Presidency of the G20 for one year from 01 December 2022 to 30 November 2023. India’s current role within the G20 involves being part of the G20 Troika, which includes the current, previous, and upcoming G20 Presidencies. During India’s presidency, the Troika will consist of India, Indonesia, and Brazil. Notably, this marks the first time that the troika will comprise three developing countries and emerging economies, affording them greater influence and representation within the G20.
As per G20 tradition, the G20 Presidency extends invitations to the guest countries and International Organizations (IOs) to participate in G20 meetings and the Summit. During its current G20 Presidency, India sent invitations to the following Guest countries: Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE. In addition, India will also invite Guest IOs, including the International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure (CDRI), and the Asian Development Bank (ADB).
These invitations underscore the G20’s commitment to inclusivity and the importance of engaging a diverse set of voices and organizations in addressing global challenges and advancing international cooperation.
The G20 currently comprises
- 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).
India’s G20 priorities
- Green development, climate finance and lifestyle for environment (life)
- Accelerated inclusive and resilient growth
- Accelerating progress on sustainable development goals (SDGS)
- Technological transformation and digital public infrastructure
- Multilateral institution for the 21st century
- Women-led development
Which world leader will attend?
- US President Joe Biden- Prior to the onset of the two-day Summit, there are scheduled bilateral meetings between him and Prime Minister Narendra Modi.
- Britain’s Prime Minister Rishi Sunak- The British Prime Minister is set to participate in the G20 Summit, marking his inaugural official visit to India since assuming office.
- Australian Prime Minister Anthony Albanese- Ahead of the G20 summit, Albanese underscored Australia’s dedication to the Indo-Pacific region, aiming to promote “economic growth, stability, respect for sovereignty, and long-lasting peace.
- Canadian Prime Minister Justin Trudeau- Justin Trudeau will participate in the ASEAN summit before arriving in New Delhi for the G20 Summit.
- German Chancellor Olaf Scholz- German Chancellor Olaf Scholz has affirmed his participation in the forthcoming G20 Summit in New Delhi.
- Japanese Prime Minister Fumio Kishida- Japan’s Prime Minister Fumio Kishida is set to attend the G20 summit in New Delhi.
- South Korean President Yoon Suk Yeol- Yoon Suk Yeol has confirmed his presence at the G20 summit in Delhi.
- French President Emmanuel Macron- He is expected to hold bilateral discussions between him and Prime Minister Narendra Modi discussing a range of issues.
- South African President Cyril Ramaphosa- He has expressed full support for India’s G20 presidency.
- Turkish President Tayyip Erdogan- He is expected to discuss a series of issues including climate change.
- Argentina’s President Alberto Fernandez– He has officially confirmed his presence at the G20 summit in New Delhi.
- Nigeria’s President Bola Tinubu- He is poised to participate in the G20 summit with the objective of advancing foreign investment in the country and rallying global capital for infrastructure development.
India’s stewardship of the G20 has marked a significant milestone in its global leadership journey. As the host nation, India has made notable strides in fostering international cooperation and addressing pressing global challenges. Its inclusive approach, evident in the invitation of guest countries and international organizations, reflects a commitment to diverse perspectives and innovative solutions.
Furthermore, India’s role in the G20 Troika alongside Indonesia and Brazil, comprising three developing nations, has amplified its voice and influence within the forum. India’s emphasis on critical issues, such as sustainable finance, climate resilience, and equitable global health access, underscores its dedication to collective well-being. India’s G20 Presidency has exemplified its commitment to global cooperation, inclusivity, and driving positive change on the world stage.