What India will do differently as G20 chair

India is bringing a new voice and a unique emphasis to how the leading voices in the world economy, democracy and development are trying to reshape the world, an official said.

“We basically have four priorities and they are inclusive, equitable and sustainable growth; lifestyle for the environment and climate change; technology-enabled transformation and multilateral reforms,” Indian High Commissioner to Nigeria Gangadharan Balasubramanian told PREMIUM TIMES in an exclusive interview.

India is the current Chairman of the Group of Twenty (G20); a group of 19 countries and the European Union whose focus is the global economy and development.

India’s new strategy is reflected in a series of preparatory steps it has taken in preparation for the big G20 summit in September.

First it was the invitation from nine countries, including Nigeria, that are not part of the G20.

Second, India’s Prime Minister Narendra Modi on January 12-13, 2023 held a virtual “Voice of the Global South Summit” where leaders from the global south, including the President of Nigeria, spoke.

Other countries in this league are Egypt, Bangladesh, Mauritius, the Netherlands, Oman, Singapore, United Arab Emirates and Spain.

That summit, according to Mr. Balasubramanian, was an occasion to discuss the priorities and imperatives of developing countries, how they see the global commons and how they would like to be positioned within the global commons.

This is helpful for India as it will bring all these aspects together at the G20 summit.

The high commissioner said that developing countries are major powers whose presence and ambitions have an important role to play in deciding the concept of the global commons.

Speaking about Nigeria’s invitation, he said: “India has a special relationship with Nigeria and Nigeria’s potential and strength are visible and with such a large population, it is only natural that their point of view will certainly have an advantage which is important for everyone understand. and that this is an opportunity for both India and Nigeria and other countries that have been invited to present their point of view in a combined way, which will certainly be good for the G20.”

India and the G20

India assumed the G20 presidency in December 2022. The G20 summit will be held in New Delhi on September 9-10, 2023.

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The summit will be the culmination of all the G20 processes and meetings held throughout the year between ministers, senior officials and civil society.

Indonesia was the previous president, India the current one, and Brazil the next.

“It is a unique opportunity for these three developing countries to have back-to-back presidents and I am sure this will certainly help bring other views to the table,” Balasubramanian said.

The G20 was founded in 1999 after the Asian financial crisis as a forum for finance ministers and central bank governors to discuss global economic and financial issues.

The G20 was promoted to the level of Heads of State/Government in the aftermath of the 2007 global economic and financial crisis and, in 2009, was designated the “principal forum for international economic cooperation”.

The G20 Summit takes place annually, under the leadership of a rotating presidency. The G20 initially focused largely on broad macroeconomic issues, but has since expanded its agenda to include trade, climate changesustainable development, health, agriculture, energy, environment, climate change and fight against corruption.

The Group of Twenty (G20) is made up of 19 countries; Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom and the United States, as well as the European Union.

They account for about 85 percent of world GDP, more than 75 percent of world trade, and about two-thirds of the world’s population.