In a world of constant upheavals, economic shifts, and the aftermath of global pandemic, India held the prestigious G20 presidency and charted a new course for the global order. Read on:
A World in Turmoil: India's Inaugural G20 Presidency
India's ascendancy to the helm of the G20 came during a period of unprecedented global turmoil. The Russia-Ukraine conflict had polarized the international community, with the world seemingly divided into 'West and the Rest.' Simultaneously, China's actions questioned the very foundations of the 'rules-based order' that had guided international relations for decades. The United States, once the unrivalled global superpower, no longer held sole dominance. Challenges to its dollar hegemony and the assertive postures of China and Russia served as stark reminders of a shifting geopolitical landscape.
Food Security and the Post-COVID-19 World
The aftermath of the COVID-19 pandemic had disrupted global supply chains, leading to food and energy shortages in many developing nations. It was under India's leadership that the world's attention was drawn to the critical issue of food security.
Reshaping Financial Institutions
International financial institutions, such as the World Bank and the IMF, found themselves under increased scrutiny regarding their effectiveness. Behind-the-scenes negotiations led to collaborative agreements among key global finance institutions. Prime Minister Narendra Modi led by example, emphasizing the need for these institutions to adapt to changing realities and prioritize the voices of those who matter.
India's Emergence as a Global Player
Throughout its G20 presidency, India placed its strength at the forefront. The nation had firmly established itself as a trustworthy, technologically advanced, and economically stable nation, deeply committed to upholding the rule-based international order.
Inclusion of the Global South
India's presidency also marked a significant milestone in the inclusion of the Global South in decision-making discussions. This move not only served India's own diplomatic interests but also underscored its favorable standing in the regions it sought to bring to the global table.
Strategic Autonomy in a Divided World
The Russia-Ukraine conflict posed a formidable diplomatic challenge. India's deft handling of the situation earned recognition as a global leader capable of forging consensus in a divided world. The Delhi Declaration, while not explicitly condemning Russian aggression in Ukraine, highlighted the human suffering and negative consequences of the conflict.
A Historic Moment for the African Union
One of the most notable developments during India's G20 presidency was the official inclusion of the African Union (AU) as a permanent member of the Group of 20 largest economies. Prime Minister Modi announced this historic development during the inaugural session of the two-day G20 Summit. This move was a step towards more inclusive and equitable global governance.
The Delhi Declaration: A Vision for a Better Future
The G20 Summit, under India's leadership, concluded with the adoption of the Delhi Declaration. This document showcased India's ambitious leadership and its contributions to global development, climate action, and diplomacy. In doing so, India reinforced its enduring belief in 'Vasudhaiva Kutumbakam'—the ancient Indian philosophy that asserts the 'World is One Family.'
