AIR Spotlight: “Outcomes and Highlights of G-20 Summit”

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  “Outcomes and Highlights of G-20 Summit”.

Participants: 

1. Dr. Harshvardhan Pant, Strategic analyst
2. Gouran Dhawan Lal, Air Correspondent

Context: 17th G-20 Summit was concluded recently in Bali, Indonesia.

Introduction: 

• The 17th G20 Heads of State and Government Summit took place between the 15th and 16th of November 2022 in Bali, Indonesia.
• Theme: “Recover Together, Recover Stronger”.
• During the Summit, the leaders of the G-20 countries discussed various aspects ranging from the post-pandemic recovery to addressing the prevailing energy and food insecurity triggered due to the Russian-Ukraine war to climate change-related issues.
• The Indonesian President officially handed over the G20 presidency to India at the end of a summit in Bali. 
• India will officially assume the G20 presidency from 1 December 2022 and host the G-20 summit in September 2023.

India’s role in 17th Summit: 

• Leaders at the G20 summit  called for an immediate end to the Ukraine conflict, holding that “today’s era must not be of war”, a formulation that echoed Prime Minister Narendra Modi‘s message to Russian President Vladimir Putin in September 2022.
  • In his bilateral meeting with Putin in Uzbekistan in September 2022, Modi said “today’s era is not of war” and nudged him to end the conflict.
• The declaration said many G-20 members strongly condemned Russia’s war against Ukraine and expressed the view that Moscow’s “illegal, unjustified and unprovoked war of aggression against Ukraine is impairing the global economic recovery.”
• As per the G20 Communique- “It is essential to uphold international law and the multilateral system that safeguards peace and stability. This includes defending all the purposes and principles enshrined in the Charter of the United Nations and adhering to international humanitarian law,”.
• India played a key and critical role in bringing consensus amongst all countries on the communique. India worked in partnership with all developing countries and emerging markets to draft the final statement and the preamble to the statement.
• India emerged as a leader, solution provider and consensus builder through its positive and constructive approach.

Global Cooperation: 

• In a declaration adopted at the end of the summit, the G20 leaders have held that cooperation is necessary for global economic recovery, combating global challenges and creating the foundation for strong, sustainable, balanced, and inclusive growth. 
  • The declaration also facilitated the commitment of member nations for more collaborations on issues like food security, climate change, health, digital ecosystem, funding poor countries and supply chain issues. 
• This is the first G-20 summit after the Russia-Ukraine conflict and consequent western sanctions. Efforts were made to build a global consensus on the issue.
• The member nations have agreed to monitor the interest rate rises carefully, avoid spillovers and warned of the rising volatility in their currency moves.
• Countries have made assurances that they would undertake coordinated efforts to address food security challenges and have also commended the Black Sea Grains Initiative in this context.
• The member nations have agreed to pursue measures to limit the global temperature increase to 1.5°C and reiterated that they obey the temperature goal set during the 2015 Paris Agreement.

G20 bridging gap between developing and developed countries:

• The G20 is well placed to contribute to the global development agenda mainly by strengthening development policies and coordinating its action.
• The G20 member nations called for an accelerated transformation towards sustainable and resilient agriculture and food systems and supply chains. 
  • The declaration expressed a commitment to protect the most vulnerable from hunger by using all available tools to address the global food crisis.  
  • The member nations  also extended support to the international efforts to keep food supply chains functioning under challenging  circumstances . 
• G20 work promotes inclusive societies and opportunities for all. 
  • G20 efforts on financial inclusion are helping to open up access to payments, savings, credit and services, in particular for SMEs. Coordinated work on human resource development, in particular skills development, will help match job-seekers with employment opportunities. 
• India’s G-20 presidency is expected to build a bridge between the developed and developing worlds. India will lead the world’s wealthiest economies with an opportunity to take on challenges that disproportionately affect the developing world, such as poverty, climate change, and pandemics. 
  • This will also help advance two of India’s fundamental foreign-policy goals: balancing global relationships and championing developing-world causes.

India’s G20 Presidency: 

• India’s G20 presidency will be starting on the 1st of December 2022.
• The Theme during which India holds the G20 presidency will be “One Earth, One Family, One Future”.
• Various issues which will be the focus during India’s leadership include environment, sustainable development, healthcare infrastructure, peace and security, women-led development, economic growth and recovery, and technological development and innovation.
• India assumes G20 at this critical juncture and is tasked with bringing about a sustainable economic recovery.
• Prime Minister Narendra Modi has assured the G20 leaders that India’s presidency will be “inclusive, ambitious, decisive, and action-oriented”.
• Further, the existing geopolitical tensions across the globe provide an opportunity for India to showcase its leadership and potential in managing both the blocks that have taken shape in global geopolitics.
• India’s vision of “Vasudhaiva Kutumbakam” or “One Earth, One Family, One Future,”  is said to be the need of the hour amidst increased polarisation in geopolitics.
• India during the COVID pandemic has demonstrated its leadership qualities by not just manufacturing vaccines and essential life-saving medication for its domestic needs but also for global good. The same is expected to be demonstrated by India during its leadership of G20.
• India’s G-20 leadership will also allow it to highlight its recent economic successes on a global stage—some of which align with G-20 priority areas. 
  • These include advances in solar power development, digital health achievements, and broader economic growth. India became the world’s fifth-largest economy this year. 

Data for Development: 

• Addressing the G-20 summit,PM Narendra Modi revealed that the principle of ‘data for development’ will be an integral part of the overall theme of India’s upcoming G-20 Presidency. 
• Accessible digital architecture can bring about socio-economic transformation. And its greater benefits will be realised only when digital access becomes truly inclusive.
• India’s focus will be on bridging the digital divide, especially in developing countries, and ensuring greater benefits from digital technologies and transformation. 
• India also urged other G-20 leaders to pledge that they would work together for digital inclusion over the next decade.
• India’s Digital  initiatives cut across every sector from health and agriculture to finance and urban governance. With this experience, India can take leadership in building a global digital economy transformation.

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