India, China Worked hard to Protect G-20

General Studies Paper -2

Context: The External Affairs Minister of India emphasized that India and China worked hard to preserve the G-20 as an institution amid global polarization.

About

• India and China discussed bilateral developments, particularly the situation on the Line of Actual Control (LAC).
• The two leaders reviewed bilateral relations, discussing the resumption of the Kailash Mansarovar pilgrimage, trans-border river talks, flight connectivity, and facilitating travel.

Inception of the G20

• It was founded in 1999 after the Asian financial crisis (1997-1998) as an informal forum for Finance Ministers and Central Bank Governors.
• Initially focused on macroeconomic issues, but has expanded to include trade, climate change, health, agriculture, energy, and anti-corruption.
• Membership: Comprises 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, and US.
• Also includes two regional bodies: the European Union (EU) and African Union (AU).
• Presidency: The G20 does not have a permanent secretariat.
• The G20 Presidency rotates annually, and each country within a regional group takes a turn hosting the Presidency.

Role of India in G20

• The G20 Leaders’ Summit in 2023, showcased India’s capacity as G20 president to create a platform for global discussions and reach a consensus through the Leaders’ Declaration.
• India placed inclusivity at the forefront, ensuring public concerns were heard through 11 Engagement Groups representing diverse segments like youth, women, private sector, and civil society.
• India’s G20 presidency advocated for Sustainable Development Goal 1 (SDG 1) – “no poverty” – aligning with global development goals.
• India represents the Global South in G20, advocating for developing nations and addressing their challenges.

Importance

• India’s economic strength and diverse representation enable it to contribute to policies benefiting emerging economies.
• The G20 forum helps India attract foreign investments,spurring job creation, technological advancement, and infrastructure development.
• India’s G20 leadership reflects its commitment to inclusivity and economic strength, aiming for tangible outcomes like increased investments, job opportunities, income growth, and poverty reduction.

Challenges

• India faces challenges in navigating relations between major powers like the US, China, and Russia.
• India’s rapid industrialization and development pose challenges in balancing economic growth with climate goals.
• The divide between developed and developing countries remains a challenge.

Conclusion and Way Forward

• India’s G20 participation elevates its global profile and strengthens its leadership in international affairs.
• Despite challenges, India’s G20 role offers significant opportunities to drive global change, promote growth, and represent developing nations.
• India’s global ascent, under G20 leadership, extends benefits to ordinary citizens, farmers, factory workers, and the urban middle class, ensuring equitable global prosperity.