Page 4 - The Indian EYE 081823

The Indian Eye
BIG STORY AUGUST 18, 2023 4

INDEPENDENCE DAY SPECIAL

INDIA LEADS

G-20

India has a unique opportunity to redefine and refocus the G20 agenda to reflect

interests and priorities of the Global South. India is looking to create mechanisms
that strengthen the capacity of developing countries, says Anil Wadhwa

ANIL WADHWA
Delegates listening to the virtual address of Prime Minister Narendra Modi at G20 Anti-Corruption Ministerial meeting in Kolkata on Saturday (ANI)
he baton of the G20 presiden-
cy has been passed on to India.
TCollectively, the G20 nations the world are facing a debt crisis. 200 sus maker. the LiFE (Lifestyle for Environment)
have delivered important results in million people in the world have gone Prime Minister Modi has stated movement in India, making the adop-
relieving debt burdens, rationalizing below the poverty line while 75 mil- on the eve of India taking over the tion of successful lifestyles a mass
international taxation, capital and lion people have lost their jobs. Presidency that India has some nota- movement These will be useful tem-
liquidity requirements for banks, re- ble achievements to its credit, includ- plates, as India’s G20 priorities will be
capitalization of the IMF, stabilizing INCLUSIVE DIPLOMACY ing the scalability of digital technolo- shaped in consultation with not only
the financial situation during the 2008 The UN Security Council has gies, collective decision-making and the G20 partners but also its fellow
global financial crisis, creating a Debt seen gridlocks due to geopolitics. Chi- democracy, a governance model of travellers in the global South, whose
Service Suspension Initiative, ensur- na dominates as many as 15 of the taking care of the marginalized while voice often goes unheard.
ing overall macroeconomic stabili- world’s multilateral institutions in a nurturing the creative genius of youth, India plans to host the most inclu-
ty. Over the years, the G20 has also strategic and calculated takeover; the and making national development a sive G20 meetings with delegates from
worked to widen its agenda to include UN System badly needs reforms, and citizen-led “people’s movement.” In- 19 countries and the European Union
issues like corruption, terror financing, the G7 is perceived as an elitist, rich dia is successfully leveraging technol- plus over 800special invitees from
jobs and social security, drug traffick- country grouping. Against this back- ogy to create digital public goods that Bangladesh, Egypt, Nigeria, Oman,
ing, migration, agriculture and food drop, the G-20 is seen as a promising are open, inclusive, and interoperable Singapore, Mauritius, the Nether-
security, health and climate change. forum with the right mix of industri- which has delivered revolutionary lands, Spain and the UAE, many
Building on these achievements, alized and developing economies and progress in social protection, health international bodies, and business
India is geared up to deliver an inclu- more representative of the current insurance, vaccination and tracking; leaders who will attend the 200 meet-
sive, ambitious and action-oriented global balance of power and influ- financial inclusion, and electronic ings in 55 cities over the coming year.
presidency. The world faces a geo- ence. As the world’s largest democra- payments.
political crisis due to the conflict in cy, the fifth largest economy, and the It is the only country in G20 NEW INITIATIVES
Ukraine. There is the challenge of most populous nation in the world, which is well on track to achieve its India has already outlined a vi-
global breakdowns in supply chains, India has pursued a policy of strategic Nationally Determined Contributions sion of shaping a new paradigm of hu-
the crisis of climate finance and cli- autonomy in recent times and has the for climate mitigation under the Paris mancentric globalization. According
mate action, and seventy countries in heft and credibility to act as a consen- Agreement. PM Modi has launched Continued on next page... >>

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