What to expect from the mega G20 summit to be held in the next two days in New Delhi? The focus will of course be on Global South, with India stating its intent on bridging the Global North-Global South divide. India is of the view that an inclusive post-Covid world order needs to be defined, premised on the slogan One Earth-One Family-One future.
This swim or sink together approach will positively guide deliberations that touch on a slew of topics that will impact on the health of the planet.
Consequently, decisions on sustainable debt management and setting up a debt relief structure that especially impacts the Global South, global food and energy security, climate financing, boosting digital public infrastructure by eliminating the north-south digital divide, regulation of cryptocurrencies are among the key issues which are expected to be discussed at length at the mega summit.
The two-day G20 summit begins in New Delhi tomorrow. More than 200 meetings have taken place in 56 cities in the last one year under India’s presidency. India has successfully managed to highlight issues concerning the Global South.
One of the key achievements for India would be the inclusion of the African Union in the G20 frame. While Chinese President Xi Jinping has decided to skip the mega event, many said that the move may not go down well for Beijing’s image.
Amid mounting pressure on India to outline the Russia-Ukraine war in the joint declaration, India has managed to keep the focus on economic issues.
“The core mandate of the G20 is to promote economic growth and development,” External Affairs Minister Subrahmanyam Jaishankar said in late August. “And that cannot advance if the crucial concerns of the Global South are not addressed.
India will pass on the baton to Brazil, which will be the chair for the next G20 deliberations.
The G20 – Group of 20– comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States along with the European Union. G20 members currently account for more than 80 per cent of world GDP, 75 per cent of global trade, and 60 per cent of the global population.
Besides these members, India has invited Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the United Arab Emirates as special guests to participate in the G20 deliberations.