AIR Spotlight - India Prepares to Assume G20 Presidency

AIR Spotlight is an insightful program featured daily on the All India Radio Newsonair. In this program, many eminent panellists discuss issues of importance which can be quite helpful in IAS exam preparation.

This article is about the discussion on “India prepares to assume G20 presidency”.

Participants – 

• Ashok Sajanhar, Former Ambassador
• Nilova Roy Chaudhary, Journalist

Context – India will assume the G20 presidency on Dec 1, 2022 for a year from Indonesia.   

About India’s G20 Presidency – 

• India will convene the G20 Leaders’ Summit for the first time in September 2023. 
• The G20 Summit is taking place on November 15 & 16 in Bali, Indonesia and Prime Minister, Shri Narendra Modi is amongst the top leaders attending it.

Logo & Theme

• The logo, theme and website of India’s G20 were unveiled by the Prime Minister. India’s G20  presidency is coming at a time of crisis and chaos in the world. The world is going through the after-effects of a destructive,  once-in-a-century pandemic, conflicts and a lot of economic  uncertainty.
• Under its presidency, India is expected to host over 200 G20 meetings across the country. The G20 Leaders’ Summit at the levels of Heads of State/Government is scheduled to be held on 9th & 10th September 2023, New Delhi. It would be one of the highest profile international gatherings to be hosted by India. 
• Logo – The G20 logo is inspired by the vibrant colours of India’s National Flag – green, white and saffron. It juxtaposes planet earth with the lotus, the National Flower that symbolises hope in a time of crisis and chaos in the world. The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature. “Bharat” is written below the logo in the Devanagari script. 
• Theme – “Vasudhaiva Kutumbakam” or “One Earth One Family One Future” is the theme of India’s G20 Presidency. The theme is drawn from the ancient Sanskrit text of the Maha Upanishad. The logo and the theme represents India’s approach to the G20 presidency of living in harmony with the surrounding ecosystem. The theme seeks to bring the whole world on one platform, there is no first world, third world, just one world. 

(Image Source – PIB)

India assuming the G20 Presidency – 

The G20, or Group of Twenty, is an intergovernmental 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, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA) and the European Union (EU). G20 members currently account for the 80% of world’s GDP, 75% global trade, two-third of the world’s population and 60% of the world’s area. India is currently part of the G20 Troika (current, previous and incoming G20 Presidencies) comprising Indonesia, Italy and India. During our Presidency, India, Indonesia and Brazil would form the troika.

• India sees it as a new responsibility and as a measure of the international community’s rising confidence in it.
• The G-20 Presidency offers a unique opportunity for India to contribute to the global agenda on pressing issues of international importance. The logo, theme and website of the G-20 Presidency would reflect India’s message and overarching priorities to the world.
• The Presidency during this year will be very significant because of reasons like global conflicts, restructuring of the global supply chains, all-time-high global debt, climate change, etc.
• The G20 presidency offers a unique branding opportunity for India’s recent achievements. This includes the ability to combat COVID-19 both in India and abroad through India’s vaccine diplomacy, India’s digital revolution, reshaping global value chains, yoga, Ayurveda, etc.
• It is a global platform for discussing and taking decisions on economic cooperation,  global financial architecture, etc.

India to become the 3rd largest economy by 2030 – At present India is the fifth largest economy in the world. India is set to become the third-largest economy in the world by 2030 (Global Investment Bank Morgan Stanley Report). India is the fastest-growing economy in the world and as a consequence, India is gaining power in the world.

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