The Indian G20 Presidency has placed effective and most relevant solutions, based on the ideas emanating out of Indian philosophy, ethos and practices. The wider challenges the global community has faced in the last couple of years led to further complications with the world getting engulfed in the polycrisis of climate change, geopolitical conflicts, extreme inequalities, and fragmentations at several levels.
With the idea of ‘One Earth, One Family, One Future’, India has attempted to reconcile the conflicting nature of economic growth with biodiversity conservation, deweaponising the supply chain of essential commodities, and to ensure inclusive global order. This would certainly require trust, humane approach and confidence for G20 to move forward. These values now seem to be essential for promoting resilient growth across all the partner countries. The looming debt crisis, supply chain disruptions are results of self-centric approaches.
FOCUS ON GLOBAL SOUTH
With the focus on Global South, India has made efforts for integrating the perspectives of developing countries into future G20 agenda setting and strengthening their participation. The suggestion for including the African Union has paved the way for an inclusive global order. As part of the India’s G20 presidency, emphasis is given to – Green Development, Climate Finance & LiFE; Accelerated, Inclusive & Resilient Growth; accelerating progress on SDGs; Technological Transformation & Digital Public Infrastructure; Multilateral Institutions for the 21st century; and Women-led development.
“Our presidency of G20 is the People’s presidency in which the spirit of public participation is at the forefront. In one way or the other, more than 1.5 crore people are associated with the events being organised across the country” — Narendra Modi, Prime Minister
The working and engagement groups of G20 have discussed these themes and identified specific modalities of taking them forward. At the G20 Presidency, some of the important initiatives include: G20 High Level Principles (HLP) on Lifestyle for Sustainable Development; Global Initiative on Digital Health; Joint Finance and Health Task Force (JFHTF); HLPs for a Sustainable and Climate Resilient Blue Economy; Global Medical Countermeasures (MCM) Coordination Platform; One Health-based health emergencies prevention, preparedness, and response (HEPPR) among others.
India has also added a working group on Disaster Risk Resilience (DRR) and engagement group on Start-up 20 to deliberate on the emerging issues. India throughout its presidency has been a vocal voice not just for itself but for the larger global South community. The Voice of Global South Summit is a remarkable demonstration of India’s priority to take up the concerns of global south at a prominent international forum.
LIFESTYLE FOR ENVIRONMENT
As the world grapples with interconnected crises, the G20’s proactive stance, led by the Indian Presidency, showcases the potential of international cooperation and forward-looking strategies to navigate an increasingly complex global landscape. One of its manifestations is seen in the LiFE (Lifestyle for Environment) focus. To align the misplaced priorities of economic growth with resource extraction, PM Modi highlighted the significance of LiFE in his remarks at the G20 summit in Bali on November 15 , 2022. “For the safe future of the planet, the sense of trusteeship is the solution. LiFE campaign can make a big contribution to this. Its purpose is to make sustainable lifestyles a mass movement”.
In recognition of India’s efforts in changing the global debate on climate change, the G20 Bali Leaders’ Declaration has endorsed the concept of sustainable development and lifestyles, resource efficiency and circular economy. Under Indian G20 presidency, a unique Think 20 (T20) task force on Lifestyle for Environment (LiFE) has been constituted under the process. Task Force 3 on LiFE, Resilience and Values for Wellbeing, primarily focuses on holistic aspects of Lifestyle for environment (LiFE) and how to bring in ethics and value system in our economic models of financing and technology.
The adoption of High-Level Principles for Lifestyles for Sustainable Development was a milestone in mainstreaming the philosophy of LiFE (Lifestyle for Environment). The nine principles chart out the pathways to promote interlinkages between development, environment and climate agendas and their associated goals which are at the heart of Lifestyles for Sustainable Development approach. Together with the High-Level Principles on Lifestyles for Sustainable Development, led by India, the G20 has also adopted the seven-year action plan to accelerate the SDGs.
COLLABORATION & INNOVATION
In an era of unprecedented macro-economic challenges, the G20, under Indian Presidency, is setting a remarkable precedent for global collaboration and innovation. The focus on strengthening Multilateral Development Banks (MDBs) to tackle 21st-century global challenges demonstrates the group’s commitment to evolving strategies. This includes endorsing a roadmap for implementing capital adequacy frameworks and promoting the coordinated debt treatment necessary for the distressed economies of the Global South.
India’s resonance with digital transformation is evident through its Digital Public Infrastructure (DPI) agenda. Acknowledging the profound role of DPI in enhancing financial inclusion and productivity, the G20 endorsement of policy recommendations paves the way for inclusive growth and technological advancement. Simultaneously, the G20’s emphasis on addressing the macro-financial implications of crypto assets exemplifies its readiness to navigate complex financial landscapes and prioritize the concerns of emerging economies.
Climate finance discussions and efforts to bolster pandemic prevention and response underscore the G20’s comprehensive approach to global challenges. Additionally, the unwavering commitment to tax transparency, combatting financial crimes, and enhancing tax coordination reaffirms the G20’s role in shaping a more just and accountable financial architecture.
FUTURE-READY ECONOMY
As India holds the G20 Presidency, the Ministry of Electronics and Information Technology (MeitY) spearheads the G20 Digital Economy Working Group (DEWG), propelling an ambitious agenda in the digital realm. The DEWG’s three priority areas — Digital Public Infrastructure, Security in the Digital Economy, and Digital Skilling — highlight India’s commitment to shaping a future-ready economy. Marking the final stretch of deliberations, the fourth DEWG meeting, held in Bengaluru, was pivotal in crystallizing the G20’s stance on these critical issues. The group underscored the need for inclusive and impactful action in these priority areas.
With over 100 delegates from G20 member nations, invited countries, and esteemed international organizations like OECD, ITU, UNDP, World Bank, and UNESCO, this meeting signifies global collaboration at its finest. The G20’s dedication to advancing the digital landscape is evident in the adoption of the “G20 Digital Economy Ministerial Declaration,” which is a product of rigorous discussions among experts. This declaration is set to become a roadmap for the G20’s digital journey. As the G20 aligns with innovation, the Digital Innovation Alliance (DIA) Summit, serves as a dynamic platform.
This Summit brings together startups, incubators, accelerators, corporates, and state governments to showcase the future of digital innovation. With several participants from the Global South, this summit epitomizes the global spirit of collaboration and progress.
India’s G20 Presidency underscores the nation’s commitment to steering the global community towards a future that is stable, inclusive and prosperous for the humanity, and also for all other forms of lives, including the mother planet. The new vision for development at the G20 is a beacon of hope, harmony and healing.
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