Dec 10: “India’s G20 Presidency will work to promote this universal sense of one-ness. Hence our theme – ‘One Earth, One Family, One Future’” – PMNarendra Modi
December 1, 2022 is a red-letter day as India assumed the G20 Presidency from Indonesia and will convene the G20 Leaders’ Summit for the first time in the country in 2023. A nation deeply committed to democracy and multilateralism, India’s G20 Presidency would be a watershed moment in her history as it seeks to play an important role by finding pragmatic global solutions for the wellbeing of all, and in doing so, manifest the true spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’.
So, what is the G20?
The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States and the European Union.
The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues. It was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”.
What is the G20 Summit?
The G20 Summit is held annually, under the leadership of a rotating Presidency. The G20 initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia include trade, climate change, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.
How does the G20 work?
The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track, while Sherpas lead the Sherpa Track.
The Finance Track is led by Finance Ministers and Central Bank Governors of the member countries. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organisations participate.
The G20 process from the Sherpa Track is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. The Sherpa Track oversees inputs from 13 Working Groups, 2 Initiatives – Research Innovation Initiative Gathering (RIIG) and G20 Empower, and various Engagement Groups, all of whom meet throughout the year and develop their Issue Notes and Outcome Documents in parallel. These substantive discussions then feed consensus-based recommendations to the Sherpa Meetings. The outcome document of the Sherpa-level meetings eventually forms the basis of the Leaders’ Declaration, which will be debated and signed (after and if consensus is reached) at the final New Delhi Summit in September next year by the Leaders of all G20 member countries.
In addition, there are Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries. The Startup20 Engagement Group has been initiated under India’s G20 Presidency for the first time, recognising the role of startups in driving innovation that responds to a rapidly changing global scenario. Active consultation with the Engagement Groups forms an integral part of India’s “inclusive ambitious, decisive, and action-oriented”, G20 approach, as outlined by Prime Minister Narendra Modi in the Bali Summit this year.
India’s G -20 Presidency
India holds the Presidency of the G20 from December 1, 2022 to November 30, 2023. The 43 Heads of Delegations- the largest ever in G20-will be participating in the final New Delhi Summit in September next year.
The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue. It juxtaposes planet Earth with the lotus, India’s national flower that reflects growth amid challenges. The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature. Below the G20 logo is “Bharat”, written in the Devanagari script.
The theme of India’s G20 Presidency – “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” – is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe. The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.
For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.
A new working group on Disaster Risk Reduction has been established under India’s Presidency to encourage collective work by the G20, undertake multi-disciplinary research and exchange best practices on disaster risk reduction.
India’s special invitee guest countries are Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE.
G-20’s invited international organisations are UN, IMF, World Bank, WHO, WTO, ILO, FSB, OECD, AU Chair, NEPAD Chair, ASEAN Chair, ADB, ISA and CDRI.
G20 meetings will not be limited only to New Delhi or other metropolises. Drawing inspiration from its G20 Presidency theme of “Vasudhaiva Kutumbakam’-“One Earth One Family One Future, as well as the Prime Minister’s vision of an ‘all of government” approach, India will host over 200 meetings in over 50 cities across 32 different workstreams, and would have the opportunity to offer G20 delegates and guests a glimpse of India’s rich cultural heritage and provide them with a unique Indian experience. The Presidency is also a chance for the G20 Secretariat to provide the country’s citizens with the unique opportunity be a part of India’s G20 story.
The Indian G20 presidency has also planned a year-long India Experience’ for G20 member countries, special invitees, and others.
What are India’s G20 Priorities?
- Climate Action and Financing. Just Energy Transitions, and LiFE
The opportunity to lead G20 comes at a time of compounding existential threat, with the COVID-19 pandemic having exposed the fragilities of our systems under the cascading impacts of climate change. In this regard, climate change is a key priority for India’s presidential agenda, with a particular focus towards not only climate finance and technology, but also ensuring just energy transitions for developing nations across the world.
Understanding that the issue of climate change cuts across industry, society, and sectors, India offers the world LiFE (Lifestyle for Environment) -a behaviour-based movement that draws from our nation’s rich, ancient sustainable traditions to nudge consumers, and in-turn markets, to adopt environmentally-conscious practices. This ties closely with India’s G20 theme: ‘Vasudhaiva Kutumbakam’ or ‘One Earth. One Family. One Future.
- Accelerating Implementation of SDGs
India’s G20 Presidency collides with the crucial midpoint of the 2030 Agenda. As such, India acknowledges the detrimental impact of COVID-19, which changed the current decade of action into a decade of recovery. In line with this perspective. India wants to focus on recommitting G20’s efforts to achieving the targets laid out in the 2030 Sustainable Development Goals.
- Digital Public Goods/Data for Development
As G20 lead, India can foreground its belief in a human-centric approach to technology, and facilitate greater knowledge-sharing in priority areas like public digital infrastructure, financial inclusion, and tech-enabled development in sectors ranging from agriculture to education.
- Debt Distress
India hopes to drive consensus on key, and contentious issues, like taxation, as well as discuss ways to reform development financing, which should “not trap a country,” the FM said.
- Reformed Multilateralism
India’s G20 priority will be to continue pressing for reformed multilateralism that creates more accountable and inclusive international organisations.
- Women-led development
India hopes to use the G20 platform to highlight inclusive growth and development, with women empowerment and representation being at the core of India’s G20 deliberations.
Development Working Group (DWG)
The DWG meetings aims to discuss developmental issues in Developing Countries (DC), Least Developed Countries (LD) and Island Countries (Small Island Developing States/SIDS).
The DWG is a platform for G-20 member countries to come together and prioritize multilateralism, share solutions that promote growth, remap development plans and achieve the Sustainable Development Goal’s targets (SDG). The G-20 possesses the knowledge, expertise, financial resources required to reverse trajectories that have gone off track.
The DWG held in the 3rd G-20 at Bali between August 10-12, 2022, concluded with the discussion and finalization of key G-20 agreements.
These include G-20 Roadmap for Stronger Recovery and Resilience in DCs, Least Developed Countries (LDCs) and SIDs, the G- 20 principles to Scale up Blended Finance in DCs, the G-20 Ministerial Vision Statement: Multilateralism for Sustainable Development Goals( SDGs) Decade of Action and the 2022 G-20 Bali Update.
The first DWG Meeting during India’s Presidency will be held in Mumbai from December 13 -16, 2022. In these meetings, sessions on Data For Development, Role of G-20 in Advancing the 2030 Agenda, Infusing New LiFE into Green Development and Accelerating Progress on the SDGs. The delegates will enjoy cultural events that give them a unique India experience, go for a Gateway of India walk and also an excursion to Kanheri Caves on the last day.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.