India’s G20 presidency has expanded the area of the possible
In the realm of international diplomacy, a central and enduring question revolves around navigating a path that optimally serves a country’s interests while staying true to long-term geopolitical objectives. This journey involves a delicate balancing act that entails ticking multiple boxes, including safeguarding domestic economic and trade interests, accommodating intra-regional concerns, and contributing to the broader geopolitical calculus.
India’s G20 presidency in 2023 has arisen amid a turbulent global backdrop characterized by persistent inflationary pressures, heightened geopolitical uncertainties, the ongoing Russia-Ukraine conflict, and a cloud of uncertainty hovering over global trade. Against this complex backdrop, India’s leadership endeavors to chart a course that maximizes benefits while minimizing risks.
The theme of the G20 Summit in 2023, “Vasudaiva Kutumbakam,” or “One World, One Family, One Future,” underscores the nation’s commitment to a human-centric approach in addressing international challenges. This theme emphasizes the need for cooperation and unity in confronting global issues and reaffirms India’s determination to foster a sense of global kinship and shared destiny in the pursuit of solutions to the world’s most pressing problems.
In an exclusive interview with Moneycontrol, Prime Minister Narendra Modi highlighted the significance of the G20 Summit’s theme, “Vasudaiva Kutumbakam” (One World, One Family, One Future), as a reflection of the global recognition of India’s inclusive and effective approach, both domestically and on the international stage. He emphasized that India’s proactive and positive stance in addressing global issues was widely welcomed by the international community, demonstrating the country’s commitment to finding solutions to global challenges.
Two crucial questions arise regarding India’s role in the global economic and strategic landscape, stemming from different aspects. First, it is pertinent to assess the benefits of India’s G20 presidency for the Global South. As a representative of the Global South, India’s leadership within the G20 can potentially bring about policies and initiatives that prioritize the interests of developing nations. This could include advocating for fair trade practices, increased access to technology and finance, and addressing issues like poverty and inequality on a global scale.
Secondly, there is a need to ensure that the evolving global trade framework takes into account not only measurable factors like comparative and competitive advantages but also intangibles, particularly climate-related concerns. It is essential to prevent the inadvertent exacerbation of inequalities between developed and less developed countries.
India, along with other nations, can play a pivotal role in advocating for sustainable and equitable trade practices that consider environmental impacts, promote green technologies, and facilitate technology transfer to the developing world. This approach would contribute to a more balanced and just global economic order, aligning with the principles of inclusive growth and sustainable development.
In summary, India’s G20 presidency offers an opportunity to address these critical questions by leveraging its leadership role to benefit the Global South and advocating for a global trade framework that considers both economic and environmental factors, ultimately striving for a more equitable and sustainable world order.
Prime Minister Modi’s candid acknowledgment of the evolving nature of the global order underscores a fundamental truth: the world is indeed multipolar, with nations often finding common ground on some issues while diverging on others. In navigating this intricate landscape, countries like India are guided by their national interests, a pragmatic approach that reflects the complexity of international relations.
India’s foreign policy strategy mirrors this approach. It maintains close and robust relations with a diverse set of countries, even when those nations may hold differing viewpoints on specific matters. This flexibility allows India to engage with a broad spectrum of global partners and leverage its position as a bridge-builder in international diplomacy.
The announcement of a bio-fuel alliance as part of India’s G20 presidency exemplifies the nation’s commitment to addressing critical global challenges. This initiative seeks to help countries meet their energy requirements while promoting environmentally sustainable practices within a circular economy framework. It demonstrates India’s proactive role in advancing solutions that align with global environmental goals and energy sustainability.
As the G20 approaches its 25th year of existence, it indeed represents an opportune moment to assess its achievements and chart the course for the future. Prime Minister Modi’s emphasis on this point highlights the importance of periodically evaluating the G20’s role and effectiveness in addressing the world’s pressing issues. In an ever-changing global landscape, it is essential for international configurations like the G20 to adapt, evolve, and continue to serve as a platform for cooperation and problem-solving on a global scale.
Prime Minister Modi’s call for a critical evaluation of the G20 as it approaches its 25th anniversary is a commendable initiative. This milestone offers an excellent opportunity to reflect on the original objectives of the G20 and assess how effectively it has achieved them. Importantly, it also highlights the need to incorporate the perspectives of nations outside the G20, especially from the Global South, in shaping the future course of this influential global forum. Such inclusive inputs would be invaluable in charting a more equitable and collaborative path for the next quarter-century.
India’s proactive role within the G20 is evident in its efforts to raise and address a range of global issues, from counterterrorism to combating black money, ensuring supply chain resilience, and promoting climate-conscious economic growth. These issues, once raised within the G20, have seen appreciable developments in global cooperation, though there is always room for improvement, particularly in increasing the involvement of the Global South and giving Africa a more prominent role.
Geopolitical considerations significantly influence the investment decisions of transnational corporations and shape the direction of global trade. In this context, the G20’s influential role cannot be overstated. It plays a catalytic role in mitigating the impact of geopolitical tensions on international trade and supply chains, ultimately benefiting economies and livelihoods worldwide. India’s G20 presidency has focused on strengthening the multilateral trading system and promoting rules-based global trade, which is crucial for maintaining the stability of the global economic order.
In summary, the G20 and similar international groupings play a pivotal role in striking a delicate balance between geopolitical interests, global trade dynamics, and domestic priorities. India’s presidency has contributed significantly to advancing this equilibrium and fostering cooperation on critical global challenges. As the G20 nears its 25th year, it remains essential to continue refining and enhancing its role in addressing the ever-evolving complexities of the global stage.
