Politics

India lists priorities ahead of assuming G-20 Presidency

The G-20 is an inter-governmental forum of the world's major developed and developing economies

September 13, 2022

India to hold over 200 G-20 meetings across country during its Presidency

Ahead of assuming the G-20 Presidency for a year, India has listed its priorities. India will hold the G-20 Presidency from December 1, 2022, to November 30, 2023, and is expected to host over 200 G-20 meetings across the country, in its role.

India, as G-20 Presidency, will be inviting Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and UAE as guest countries, as well as the International Solar Alliance, Coalition for Disaster Resilient Infrastructure, and the Asian Development Bank as guest international organizations.

In addition to G-20 members, there has been a tradition of the G-20 Presidency inviting some guest countries and international organizations to its meetings and summit. Accordingly, in addition to regular international organizations (UN, IMF, World Bank, WHO, WTO, ILO, FSB, and OECD) and Chairs of Regional Organizations (AU, AUDA-NEPAD, and ASEAN).

In a statement on Tuesday, the Ministry of External Affairs said: “Our G-20 priorities are in the process of being firmed up, ongoing conversations inter alia revolve around inclusive, equitable and sustainable growth; LiFE (Lifestyle For Environment); women’s empowerment; digital public infrastructure and tech-enabled development in areas ranging from health, agriculture and education to commerce, skill-mapping, culture and tourism; climate financing; circular economy; global food security; energy security; green hydrogen; disaster risk reduction and resilience; developmental cooperation; fight against economic crime; and multilateral reforms”.

The G-20 Leaders’ Summit at the level of Heads of State Government is scheduled to be held on September 9-10, 2023 in New Delhi, said the Ministry statement.

The G-20 is an inter-governmental forum of the world’s major developed and developing economies. It comprises 19 countries — Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US — and the European Union (EU).

Collectively, the G-20 accounts for 85 percent of the global GDP, 75 percent of international trade, and two-thirds of the world population, making it the premier forum for international economic cooperation.

India is part of the G-20 Troika (current, previous, and incoming G20 Presidencies), which includes Indonesia and Italy.

“During our Presidency, India, Indonesia, and Brazil would form the Troika. This would be the first time when the Troika would consist of three developing countries and emerging economies, providing them a greater voice,” the statement said.

The G-20 currently comprises Finance Track, with eight workstreams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms)

Sherpa Track, with 12 workstreams — Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, and Tourism.

Ten Engagement Groups of private sector/ civil society/ independent bodies (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20, and Youth 20).

[With Inputs from IANS]

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