Can India lead the world? Can it become the so-called Vishwa Guru?
India has been awarded the G20 Precedency this year from December 2022 to 31 December 2023 which means India is being recognized as the president of 20 world’s most powerful nations. The whole world is looking towards India as a Game Changer of India and hoping that some new and powerful reforms will take place in the coming times. This year is going to be very crucial for India as delegations from all over the world will be coming and looking for better solutions for problems and side by side exploring our motherland.
G20 Every Year
G20 rotates every year from country to country and the agenda of the meetings is chaired by 3 nations which include the past president, present president and future president. Countries have been regarding this precedency as a precedency of hope, harmony and healing.
What is G20?
First of all, let us understand what exactly is G20.
G20 or GROUP 20 is an organization of the world’s 20 most powerful nations which covers over 60% of the world population, controls 75% of the world trade and has almost 80% of the gross domestic product.
Now, why is G20 required?
Before G20, there was another organization named G7 which consisted of the 7 most powerful nations in the world. All the nations in this group were fully developed. Now, as the group consisted of mostly western world nations, they focused on their own economy irrespective of the fact that their one bad move could disturb the whole balance of the economy in the world. This can be seen during the 2008 Economic Meltdown when the Lehman Brothers were declared bankrupt. The whole economy of the world dropped and took a very long time to recover. Similarly in 1998 when there was a financial crisis in Thailand, recessions were felt all over Asia. So after 1999, a group called G20 was established with a view to corporate with other under-developed countries across the globe.
How does G20 Work?
G20 works or focuses on 2 main tracks namely financial and sherpa (guiding) tracks. In the financial track, finance ministers and the representatives of the central bank of each country assemble and discuss global economic growth, tax information exchange, financial inclusion, fossil fuel subsidies etc. On the other hand, in the sherpa track, diplomats come together and share their views on employment, climate change, agriculture and food security, UNSDG etc.
How can India utilize its presidency for a good cause?
India as the president is planning to hold over 200 meetings all over India including some of the most important meetings in hostile areas like Jammu and Kashmir, Assam etc. Also, India has the power to invite other countries as guests who are not part of the G20. This can improve and strengthen our relations with other nations. Some of the instances are the invitation which is sent to UAE, Bangladesh, Egypt, Spain, Mauritius, Singapore etc. With the help of other countries, India can emerge as a leader in the Global South.
Also, as every nation around the world has its eyes on India, it is a very good chance for India to show the world who we truly are. This can also help in improving our developmental and tourism sectors as diplomats are always keen to explore the country’s vibrant and diversified culture. Technological advancements in the green energy sector along with proper facilities can be thrown into the light so that people around the globe see what exactly we are doing.
How G20 Helped India?
G20 has helped India in many ways. It has tied the whole nation in a string so that everyone can prepare to welcome diplomats from all over the world. A significant example of this can be seen during the All India Political Parties Meet 2022. Before the commencement of G20, leaders from every political party in India met and discussed about how every state can work together to bring the best out of themselves. With the theme of “Vasudev Kutumbhakam” or “World is One” India can help other countries to leave all disparities and tie hands with other countries to work together towards a noble cause.
This is how G20 is going to be a game changer for India and also help to boost our economy.
By: Vinayak Agarwal
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