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17 Aug 2023
GS Paper 2
International Relations
Day 28: What are some of the major achievements and initiatives that India has undertaken as part of its G20 presidency? (150 words)
Approach
- Introduce with G20 and India's presidentship.
- Discuss what are some major initiatives and achievements taken by India.
- Conclude accordingly.
Answer:
The G20, or Group of Twenty, is an international forum comprising 19 individual countries and the European Union. It brings together some of the world's major advanced and emerging economies to discuss and coordinate global economic issues and other challenges. The G20 was established in 1999 as a response to the financial crises of the late 1990s.
India has assumed the G20 Presidency from the 1st of December 2022 from Indonesia and will convene the G20 Leaders’ Summit for the first time in the country in 2023.
Some major achievements by India during G20 engagements:
- Infrastructure Investment: India has emphasized the need for sustainable infrastructure financing and has promoted the idea of the "Global Infrastructure Connectivity Alliance" within the G20 framework.
- Digital Economy and Financial Inclusion: India's initiatives such as the "Jan Dhan Yojana" and "Aadhaar" have been highlighted as examples of promoting digital financial services and inclusion.
- Climate Change and Renewable Energy: It has pledged to increase its renewable energy capacity and has actively participated in G20 discussions on climate finance and clean energy technology transfer.
- Ease of Doing Business: The World Bank's "Doing Business" report has recognized India's efforts in this regard, and India has shared its experiences and best practices with other G20 members.
- Health Security: India has played an important role in discussions related to global health security, particularly during the COVID-19 pandemic. It has shared its experiences in managing the pandemic and has supported efforts to enhance global health resilience.
Some major initiatives taken by India during its G20 presidency:
- Launch of Applications for G20 Digital Innovation Alliance: The G20 Digital Innovation Alliance (G20-DIA) mission is to showcase innovative solutions and create an alliance of innovation ecosystem players, including startups, investors, mentors, and institutions who are building digital public goods/innovations for the betterment of economies and the upliftment of societies.
- Lifestyle for environment (LIFE), green development and climate finance: Global community of individuals and institutions to drive LIFE as an international mass movement towards “mindful and deliberate utilization of mindless and destructive consumption” to protect and preserve the environment.
- Women-led development and multilateral institutions: Women-led development is a priority of the Indian G20 Presidency, and in June 2023, Prime Minister Modi urged the G20 nations to adopt a “game-changing action plan” in this regard.
- Global Digital Heritage Initiative: which is aimed at preserving global heritage, both tangible and intangible, through the application of digital and cyber-physical technologies.
India’s G20 Presidency is a watershed moment in her history as it seeks to play an important role by finding pragmatic global solutions for the wellbeing of all, and in doing so, manifest the true spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’.
