This essay will delve into the factors that have contributed to Bharat’s rise as a global power and its leadership within the G20. To understand Bharat’s emergence as a global power, one must first recognise its immense demographic advantage. With a population of over 1.3 billion people, Bharat is the second-most populous Country in the world, offering a vast and dynamic labor force. This demographic dividend has fueled economic growth, innovation, and entrepreneurship, making Bharat an attractive destination for global investors.
Economic Growth and Reform
Bharat’s economic growth over the past two decades has been nothing short of remarkable. The country has consistently ranked among the fastest-growing major economies in the world. Key reforms, such as the introduction of the Goods and Services Tax (GST) and the “Make in India” initiative, have created a more favorable business environment, attracted foreign investments, and propelled Bharat towards becoming a global manufacturing hub. Additionally, Bharat’s robust technology sector, characterised by its IT services and software development capabilities, has played a pivotal role in boosting the nation’s global economic standing.
Bharat’s remarkable economic growth and resilience have been instrumental in its ascent as a global power. Over the past few decades, it has consistently maintained a strong economic trajectory, with a burgeoning middle class and a dynamic entrepreneurial ecosystem. As of my knowledge cutoff in September 2021, Bharat was the world’s sixth-largest economy, a position poised to rise in the coming years. The Country’s economic growth has been driven by factors such as a youthful demographic dividend, increasing urbanisation, and a burgeoning services sector, which includes information technology, pharmaceuticals, and financial services. Bharat’s economic resilience was evident during the global financial crisis of 2008 and the COVID-19 pandemic. The Country’s prudent fiscal policies, including its emphasis on financial inclusion and digitalisation through initiatives like Jan Dhan Yojana and Digital India, helped cushion the impact of these crises. The rapid recovery from the economic challenges posed by the pandemic reinforced Bharat’s reputation as an economic powerhouse.
Bharat’s strategic location in South Asia has made it a key player in regional geopolitics. It shares borders with several neighboring Countries, including China and Pakistan, and its influence extends beyond its borders. Bharat’s strategic partnerships with Countries like the United States, Russia, and Japan have further enhanced its standing on the global stage. Its membership in organisations such as BRICS (Brazil, Russia, India, China, South Africa) and the Shanghai Cooperation Organisation (SCO) has solidified its role in shaping global policies and initiatives.
Bharat’s diplomatic efforts have been instrumental in positioning it as a Global leader. Prime Minister Narendra Modi’s proactive foreign policy has strengthened Bharat’s ties with both traditional allies and emerging partners. Initiatives like “Act East,” which seeks to bolster ties with Southeast Asian nations, and Bharat’s active participation in international forums like the United Nations have showcased its commitment to global cooperation and problem-solving. Bharat’s proactive diplomacy and engagement in multilateral forums have played a pivotal role in positioning the nation as a global power. The G20, comprising 19 of the world’s largest economies and the European Union, serves as a crucial platform for addressing global economic challenges and fostering cooperation. Bharat’s engagement in the G20 has been characterised by its commitment to addressing various global issues, ranging from climate change to terrorism.
In recent G20 summits, Bharat has been at the forefront of discussions on climate change and sustainable development. The Country has undertaken ambitious renewable energy initiatives, such as the International Solar Alliance (ISA), which aims to promote solar energy utilisation. Bharat’s commitment to addressing climate change aligns with global efforts to combat environmental degradation and achieve sustainable development goals. Furthermore, Bharat’s diplomacy extends beyond economic and environmental concerns. It has actively sought to strengthen its relationships with G20 members and other global players through strategic partnerships and cooperation agreements. These diplomatic initiatives demonstrate Bharat’s commitment to a multipolar world order and its aspirations to shape global governance.
Leadership in G20
Bharat’s leadership role within the G20, an international forum for Governments and central bank governors from 19 Countries and the European Union, underscores its growing importance in global economic governance. As the host of the 2023 G20 summit, Bharat as a unique opportunity to shape the global agenda. The G20 presidency provides Bharat with a platform to address critical issues such as climate change, sustainable development, and global economic recovery. Its commitment to fostering inclusive growth and addressing climate concerns aligns with the priorities of the international community.
As Bharat asserts its global leadership within the G20, it is making significant contributions to global governance. The nation has actively participated in discussions on international financial reforms and the regulation of financial markets to prevent future crises. Its economic experience and expertise have been invaluable in shaping policies that promote stability and growth in the global economy. Moreover, Bharat has played a pivotal role in addressing issues related to global health, particularly during the COVID-19 pandemic. The Country’s pharmaceutical industry, often referred to as the “pharmacy of the world,” supplied essential medicines and vaccines to nations in need. This contribution underscored Bharat’s commitment to global public goods and its willingness to collaborate on pressing global challenges.
Soft Power and Cultural Influence
Bharat’s soft power is another crucial aspect of its global emergence. Bollywood, yoga, Indian cuisine, and traditional art forms have captured the imagination of people around the world. The Indian diaspora, which is widespread and influential, further enhances the Country’s soft power. The popularity of the International Day of Yoga, initiated by Bharat and celebrated globally, exemplifies the Country’s ability to project its culture and values on a global scale.
In conclusion, Bharat’s journey from a developing nation to a global power is a remarkable story of resilience, economic growth, and diplomatic finesse. Its leadership within the G20 is a reflection of its commitment to shaping global policies and addressing pressing global challenges. As Bharat continues to navigate its path towards global leadership, it must remain committed to inclusive development, innovation, and cooperation on the international stage.