Highlighting the imperative of peace in today’s world, the declaration urged the pursuit of “initiatives for comprehensive, equitable, and lasting peace in Ukraine.”
The diplomatic achievement of the G20 Bharat Summit was underscored by the unanimous acceptance of a 37-page declaration comprising 83 paragraphs, including eight paragraphs dedicated to addressing “geopolitical matters,” in which consensus was successfully achieved.
On September 9th and 10th, the 18th G20 Summit took place at Bharat Mandapam, New Delhi, hosted by India as part of its first-ever G20 Presidency under its charismatic Prime Minister Narendra Modi, who has firmly established himself as a significant and highly influential global leader. It is noteworthy that this event coincided with India’s celebration of its 75th year of Independence. Further, India’s G20 Presidency theme, ‘Vasudhaiva Kutumbakam – One Earth, One Family, One Future,’ serves as a comprehensive global roadmap for sustainable, inclusive, and human-centric development.
The summit covered a wide range of topics, including climate change, economic reforms, the gradual reduction of fossil fuels, debt reorganization, the establishment of a biofuel coalition, healthcare, the development of digital infrastructure, the regulation of cryptocurrencies, and the empowerment of women. The declaration also underscored that India’s guiding principle of ‘Sabka Saath, Sabka Vikas, and Sabka Vishwas’ resonates with the essence of multilateralism and inclusivity.
The G20, comprised of the world’s major economic powers, consists of 19 countries in addition to the European Union. Founded in 1999, it has recently welcomed the African Union (AU) and its 55 member states as members, marking a significant step towards democratizing the G20. Among these 19 nations are the esteemed P5 members of the UN Security Council, along with Argentina, Australia, Brazil, India, Indonesia, Italy, the Republic of Korea, Mexico, Saudi Arabia, South Africa, Türkiye, and Spain, holding a permanent invitee status, along with the World Bank and IMF. The G20 Presidency operates on a rotational basis, with leadership changing hands annually among its member nations. As a forum for the world’s foremost economies, the G20 provides a platform for collective action and collaboration to shape a sustainable, prosperous, and equitable future for all. Collectively, these nations wield an astonishing share of global influence, accounting for over 85% of the world’s GDP, 75% of international trade, and representing more than two-thirds of the global population.
The presence of global leaders underscored the recognition of India’s inexorable ascent as the third-largest global power by 2030, with a projected economy surpassing $10 trillion. India achieved global recognition when it overtook the United Kingdom to become the world’s fifth-largest economy in 2022. Within this decade, it is highly likely to outstrip Germany and Japan, ascending to the position of the world’s third-largest economy and the second-largest within the free world. Consequently, India has become a magnet for worldwide attention, attracting individuals and businesses eager to participate in its remarkable growth.
The Group of Seven (G-7), an informal grouping of seven of the world’s developed economies, including the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom, along with the European Union, aimed to incorporate references to UN resolutions in the G20 Summit. Their goals also encompassed addressing concerns related to “war and territorial expansionism” and including explicit statements such as “respect for the sovereignty and territorial integrity of States” and the pursuit of a “just and enduring peace in Ukraine.”
The diplomatic achievement of the G20 Bharat Summit was underscored by the unanimous acceptance of a 37-page declaration comprising 83 paragraphs, including eight paragraphs dedicated to addressing “geopolitical matters,” in which consensus was successfully achieved. While the declaration did not directly mention Russia’s invasion of Ukraine, it issued a broad call for all nations to adhere to “the principle of respecting each other’s territorial integrity and sovereignty.”
Highlighting the imperative of peace in today’s world, the declaration urged the pursuit of “initiatives for comprehensive, equitable, and lasting peace in Ukraine.” India’s External Affairs Minister, S. Jaishankar, emphasized that while the G20 summit in Bali had its distinct context, the one in New Delhi had its unique considerations. India, he noted, needed to carefully balance its interests and relationships with both Russia and the United States.
The G20 summit during India’s presidency was unparalleled and represented a pinnacle in its history, yielding a remarkable 112 outcomes and presidency documents across various sectors. PM Modi also emphasized that India’s presidency was guided by three core pillars: People, Planet, and Prosperity. Moreover, he highlighted the presidency’s unwavering commitment to fostering innovation, resilience, and sustainability.
Furthermore, Prime Minister Modi, along with United States President Biden, unveiled the commencement of the India-Middle East-Europe mega Economic Corridor (IMEE EC). This ambitious initiative involves the participation of France, the United States, India, Italy, Saudi Arabia, Germany, the UAE, and the European Union. Also, PM Modi stated, “This corridor will show a sustainable way to the whole world.” ‘This is a big deal,’ the United States President Biden said after the announcement “This is a really big deal.”
Furthermore, India, in collaboration with the United States, UAE, Bangladesh, and others, put forth the idea of establishing the Global Biofuel Alliance, which urged G20 nations to join the initiative with a plea to increase ethanol blending with petrol globally to 20 per cent. This underscores India’s commitment to fostering sustainable energy solutions on a global scale. Another remarkable achievement of India’s G20 presidency has been the advancement of Digital Public Infrastructure (DPI). India’s digital payment system has gained international attention, capturing the interest of advanced economies like Japan, Singapore, France, Germany, and the UAE, all considering the possibility of adopting it. In addition to these accomplishments, India has placed a strong emphasis on addressing global challenges associated with debt vulnerabilities, particularly those impacting nations in the Global South.
India’s stewardship of the G20 has undeniably been remarkable and pioneering. The benchmarks it has established will prove challenging to surpass in the future, reaffirming India’s global leadership status. As Foreign Minister Dr. Jaishankar said during the press conference, “The G20 has played a pivotal role in preparing India for the world, and the world for India.” India’s moment has almost arrived.
The G20 Bharat summit stands as a notable triumph for India and its diplomatic prowess. India exhibited its capacity to guide and influence global affairs within a multifaceted and ever-evolving international landscape. Furthermore, it proudly displayed India’s soft power and cultural richness by organizing a series of cultural events and exhibitions for the benefit of G20 leaders and delegates. The summit served as compelling evidence of India’s ascension as a global leader and a conscientious participant in tackling shared challenges and seizing common opportunities on the world stage. As India’s Prime Minister, Narendra Modi, gracefully handed over the ‘G21’ presidency to Brazil for the next year.
https://www.financialexpress.com/business/defence-indias-g20-presidency-at-bharat-mandapam-a-vindication-of-indias-diplomatic-triumph-at-the-global-stage-3242122/
