The G20’s current cycle is unique, with four Global South nations presiding consecutively: Indonesia, India, Brazil, and now South Africa. Brazil’s 2023-24 presidency exhibited both achievements and struggles, prioritising social inclusion, hunger, energy transition, and governance reform. The handover to South Africa marks a significant milestone in G20 history. Will the momentum be followed by the U.S., the next G20 president but also a G20 sceptic?

India’s engagement with Latin America is gaining momentum, marked by PM Modi’s recent visits to Brazil, Argentina, and Trinidad & Tobago. Amid rising Chinese influence, sustained political engagement and targeted investments are key to unlocking Latin America’s potential for India’s benefit. India needs a multifaceted strategy that blends economic engagement with public diplomacy and more official visits at higher political levels.

Prime Minister Modi’s visit to Argentina is a boost to the growing bilateral. Modi and Argentinian President Javier Milei are committed to their countries’ economic and political advancement, and see trade with each other as key. Argentina being in the lithium triangle gives India access to critical minerals.

PM Modi's five-nation tour highlights that despite geopolitical conflicts, New Delhi remains confident in its ability to balance relationships with the North and South.

Since the 1980s, Argentina has witnessed repeated rounds of hyperinflation and recurring currency devaluations that made any forward-looking planning impossible. The new President, an outsider with unorthodox economic ideas, may finally enable the long embattled economy to break free from its troubled hyperinflationary past.

Javier Milei defied expectations when he won the Presidential election in Argentina earlier this month. The public are looking for early and rapid results that will bring the economy back on a steady keel, even through radical reform. But sectors of the entitled old guard have already announced it will oppose any change in the status quo.

Significant progress has been made globally in adopting green energy. Technological advances, easier availability of capital and regulatory measures have helped. But progress is likely to slow due to the shocks caused by Covid-19 and the Ukraine crisis. How to continue the green transition whilst ensuring that lower-income countries have access to affordable energy? This Task Force offers recommendations for India’s G20 Presidency.

Gateway House is the only institution in India that has hosted official and independent meetings under the annual G20 process since 2015. In October 2022, Gateway House initiated an independent G20 Task Force on Energy Transitions and Climate Finance, the first task force of India's G20 Presidency of 2023. In this compendium of reports, Gateway House assesses and includes its engagement with this influential multilateral through task forces, research and meetings of the last nine G20 Presidencies.

India will be president of the G20 in 2023. The world’s most influential economic governance body is facing an existential crisis, where the major powers have fallen out. With geopolitical currents redefining geo-economics, India needs to be ready to emerge as the chief global diplomat.

The G7 has reached out to emerging economies which have, of late, been facing challenges on the economic front, brought on by the lingering pandemic and the mismanagement of the Ukraine crisis. They are also seeking, from the global south, a broader acceptance of their world view. Will it be forthcoming?