India takes over G20 presidency: Faces tough task of steering nations to consensus

New Delhi [India], December 13 : India's G20 (Group of Twenty) presidency comes at a time when the world is witnessing tough circumstances and challenges but New Delhi's reputation is likely to bring consensus among nations on finding viable solutions to core issues of economic stability and world amity as the world is staring at geo-political and geo-economic challenges, Raagini Shekher Sharma writes in the Greek-based think tank Research Institute for European and American Studies (RIEAS).
According to the think tank, India will overcome the geo-political and geo-economic challenges, present and future, and steer the nations to find viable solutions to core issues of economic stability and world amity.
During India's G20 presidency, there are other problems that the country has to solve: economic stability, climate change, the pursuit of SDG's 2030 goals, energy and health security, food, fertilisers and fuel security.
The ongoing Ukraine-Russia war has badly hit the economy all across the continents and politically the nations are more divided than before. India, is currently, in the midst of geo-political and geo-economic transitions which has no prediction. This is creating friction between the States over the issues, seemingly with no resolution in sight.
Uncertainties loom large on the security and economic landscape. Hence, the conception of multilateralism decision-making hangs in a balance.
It is apt to state that the presidency to India has come at an inflexion point wherein the tensions between USA and China have soared over the Indo-Pacific region and several other issues; war in Ukraine has put the West against Russia once again and the transnational issues like climate change, post-pandemic health challenges, an economic slump and the rising friction and dissidence over technological governance and privacy of the people.
Notably, India officially assumed the G20 presidency on December 1.
G20 was formed in 1999 in the wake of the economic meltdown in South East Asia that shook the world's economy with a view to unite the world's largest established and emerging economies and ensure global financial and economic stability. The aim was to create a global ecosystem that would support equitable growth and development. The most powerful economies in the world, both developed and emerging, were brought together for this common cause.
India's strategy of inclusiveness and multilateral diplomacy will be put to the test during its G20 presidency. India's stand on the Russian invasion of Ukraine has also raised many eyebrows in the EU and various western countries.
According to the think tank, India's theme of "One Earth, One Family, One Future," for the G20 presidency is apt as firstly it is based on the centuries-old Indian tradition of "Vasudhaiva Kutumba-Kam," (in the Sanskrit language) i.e. the world is one family.
It also talks about India's vision. The think tank believes that India has selected the vision carefully which implies its commitment as also a message to all that the world is not divided into 'first world or third world' or 'North or Global South' or 'West or East', rather, it is one world.
The first G20 Sherpa meeting under India's Presidency kicked off in Udaipur on December 5 where Lukash said that digital transformation and innovations are key drivers of growth and development. She further said, "Hence proposed by #G20India as cross-cutting topics at all the G20 working tracks."
During the G20 Sherpa meeting held in Udaipur, Russian G20 Sherpa Svetlana Lukash lauded India and Indian Sherpa Amitabh Kant for putting 'Women-led development' as one of the group's key priorities.
The G20 or Group of 20 is an intergovernmental forum of the world's major developed and developing economies. It comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and the European Union.
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.