6 min readJan 7, 2023 09:37 AM IST
First published on: Jan 7, 2023 at 07:41 AM IST
India takes over the reins of G20 at a juncture best described in the Charles Dickens novel, A Tale of Two Cities: “It was the best of times, it was the worst of times… it was the spring of hope, it was the winter of despair.” Therein lies the paradox of the opportunities and challenges for India as it steers this powerful global group of 19 countries plus the European Union. They account for 85 per cent of the global GDP, 75 per cent of trade and 60 per cent of the population. Their ability to come together and agree on key reforms and means of implementation in the economic, financial and political order could make the difference between the world hurtling into calamity or making exponential progress towards peace, prosperity and environmental sustainability.
So why is it the worst of times? Three years of the Covid-19 pandemic have wreaked havoc on most national economies. And the health security crisis is not over yet. Developing countries, in particular, are facing an extended, multi-faceted shock of great magnitude. This has resulted in stalled or negative economic growth, financial and liquidity crunch, external debt crisis, increased poverty, worsening of social indicators and inequality. The UN says the world is off track on the Sustainable Development Goals (SDGs). Digital divides between the developed and developing nations and within countries, regions and genders have widened.
Climate-change disasters and conflicts, the Taliban takeover of Afghanistan and the 10-month-long Ukraine-Russia war have added to the economic woes and humanitarian catastrophe, unleashing a food, fuel and fertiliser crisis and cruel inflation-recession choices. Terrorism persists and the zero-tolerance stance and counterterrorism focus of the international community seems diluted.
Further, the world is geopolitically riven with the western members of the G20 seeing Russia as a threat and China as a strategic competitor. Continued Chinese muscle-flexing and the recrudescence of the Covid crisis in China are causes for concern. Then there are the north-south divisions within the G20 with the developed country members of the G7 being more status-quoist and conservative on climate financing, technology transfer, debt relief, liquidity provision and democratising reforms of multilateral institutions, including on quota reforms in the Bretton Woods institutions. Consensus-building on meaningful outcomes will be tough. Over and above these external challenges, discordant notes may be struck by recalcitrant opposition parties within India.
But Prime Minister Narendra Modi’s India is adept at turning challenges into opportunities and not letting any crisis go to waste. He seems determined to demonstrate that India in the Amrit Kaal will be able to make major wins for “global public goods” as set out in the six thematic priorities of India’s G20 presidency.
These include technological transformation and digital public infrastructure; accelerating progress on SDGs; lifestyle for environment (LiFE), green development and climate finance; accelerated, inclusive and resilient growth; women-led development and multilateral institutions for the 21st century as well as finding solutions for the “3 Fs” — food, fuel and fertiliser-related crisis. In all of these areas, G20 could adopt actionable norms and policies, grow data and knowledge hubs and best practices, launch mechanisms for financing and implementation, advocacy campaigns, and impactful programmes on the ground — individually, collectively and for the benefit of the Global South.
India can build on the decisions and mechanisms of previous summits. Equally, it can blaze a trail and leave an enduring legacy by mobilising global solidarity for solutions to pressing problems of humanity. India’s multi-alignment and PM Modi’s leadership can be leveraged to bridge systemic and ideological differences and spark a “mindset change”. It can hopefully drive consensus on key reforms of the UN, World Bank, IMF etc., for it is now or never.
India is seen as a bright spot in the global economic horizon. It can play a “lighthouse role” by regionalising and globalising its many achievements. From social justice projects, digital transformation, climate and environmental activism to pandemic and disaster relief, India can offer proven solutions and be a transformer of the Global South.
For instance, on PM Modi’s LiFE initiative, global high-level principles and the creation of an ecosystem of government and businesses covering demand, supply, policy signals and economic framework could be envisaged. Assessing and securing low-cost funding — public and private — for the future trajectory of climate-friendly/green development and clean energy technologies could be game changing. Also, India’s robust, inclusive and interoperable digital public infrastructure model, which has driven inclusion across finance, health and education, would be of immense value if it were replicated in the Global South.
From the Indian perspective, this is an occasion to demonstrate the country’s rising global heft and technological prowess; to celebrate India and its unity in diversity of 28 states and eight Union territories and multiple stakeholders, its vibrant democracy and rich cultural heritage. PM Modi seeks to drive a veritable “Jan Andolan” — a people’s movement based on being “One India” as much as “One Earth, One Family, One Future”. The 200 events and the spotlight on India Inc for a year will no doubt encourage a quantum leap in trade, FDI, technology transfer and tourism and feed India’s roaring economic growth engine. Truly a case of Nav Bharat leading the world to a new destination for common good.
The writer is former assistant secretary-general of the United Nations and deputy executive director of UN Women
Terrorism persists and the zero-tolerance stance and counterterrorism focus of the international community seems diluted. (Reuters/File) 
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