Courtesy: Indian Express
The New Delhi Leaders' Declaration breaks new ground key areas like climate finance, digital public infrastructure, trade, and multilateral reform. While the declaration is backed by unanimous consensus and outlines ambitious and wide-ranging goals, the actual extent of its implementation can only be assessed in the medium term.
Courtesy: Forbes India
The announcement of the India-Middle East-Europe Economic Corridor (IMEC) has the potential to make India an Asian hub in global supply chains. India’s renewed emphasis on trade agreements and export-oriented foreign direct investment presents a significant opportunity for the country to promote industrialisation across South Asia and make the region less vulnerable to Chinese enticements.
Courtesy: X / Presidency Nigeria
The admission of the African Union to the G20 marks the multilateral's first ever expansion. The G20 will now speak for 80% of the world's population. For Africa, this means an opportunity to mainstream its concerns and priorities in global decision-making. Lastly, as the inclusion of AU in G20 took place during India’s presidency, New Delhi can enjoy the fruits of its creative diplomacy as Voice of the Global South.
Courtesy: NDTV
India’s leadership of the G20 has managed to maintain a balanced stance on the Russia-Ukraine conflict in the grouping while also highlighting the need for greater accommodation of emerging powers within the multilateral framework. This experience positions India on the path to becoming a more equitable global rule-maker, fostering collaborations between the Global South and the G20.
Courtesy: X / Ministry of Culture
India’s presidency of the G20 has put a premium on its role as “the voice of the Global South”, even as it serves as the bridge between the Global South and the Global North. The upcoming Delhi Summit’s success will depend on India’s ability to balance diverse interests while broadening the areas of convergence and narrowing those of disagreement within the grouping.
Courtesy: ETF Stream
The U.S. dollar’s position as the world’s dominant currency has come under pressure as countries and central banks explore alternative currencies and diversify their reserve compositions. While the U.S. continues to dominate global financial markets and the dollar is unlikely to be unseated anytime soon, the challenge to the dollar-dominated uniform currency system has begun.
Courtesy: ConnectedtoIndia
The Chandrayaan’s successful landing on the lunar south pole gives India some momentum to think ‘astro-strategically’ about space – independently and with its partners. Science and national prestige alone aren’t the only factors driving human space endeavors. Commercial gain, and intense military contestation are likely to be a feature in future decades.
Courtesy: Fox News
The decision to invite six countries — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE — to join BRICS as full members has opened the grouping to a new geopolitical era. India can now play a seminal but challenging role in this evolved dynamic, given its growing cooperation with the West on the one hand and its active pursuit of the interests of the Global South on the other.
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The G20 today is undoubtedly the most significant grouping of major world economies, and one which can make a significant impact on world affairs. This is particularly true, as the role of the United Nations is seen to be declining, Read more
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The BRICS Summit in Johannesburg has drawn international attention to the grouping’s past record of achievements and failures, its strained internal dynamics, and new challenges. As BRICS heads into its 18th year, its success and way forward will depend on the members’ ability to tackle the principal challenge of retaining its internal solidarity while balancing expansion and its impact and influence in the world.