Indonesia has managed its G20 Presidency year by understanding the importance of not going it alone. This trading nation has used its deep regional and multilateral cooperative processes which provided trusted back-up and support at every step, and was book-ended by strong linkages and investment partnerships with Japan and Australia. In this, it has laid the groundwork for India’s 2023 presidency.
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.
India is a young country and an old civilization. It began its new life 75 years ago with enormous equity stemming from its unique freedom struggle. A maturing foreign policy now enables it to move smoothly from being the leader of the ‘have-nots’; to being a responsible member of the group that manages world affairs.
In 2023, India will be the President of the G20, often called the world's economic steering committee. This most influential multilateral economic forum is a unique institution, where developed and developing countries have equal stature. It thereby creates opportunities for all to showcase their global political, economic and intellectual leadership, making the global economic governance agenda more inclusive. This book, a collection of analysis and studies by Gateway House since 2015, explains the G20's importance, its various parts and the contributions made by the 20 countries that comprise it. India's Presidency year provides it the opportunity to 'hold the pen, write the rules’ and lead the G20 year intellectually, financially, managerially and administratively. An excerpt.
On January 14, 2021, Gateway House co-hosted a webinar with Konrad-Adenauer-Stiftung on G20’s future: Italy, Indonesia, India. The panel included Marco Felisati, B20 Sherpa, Italy, Dr. M Chatib Basri, Former Minister of Finance, Indonesia, and Sanjeev Sanyal, Principal Economic Advisor, Government of India.
Now that the India-U.S. 2+2 meeting has ended, Indian officials are preparing for a hectic season of summiteering in November, from the SCO to the BRICS and the G20. All will give India global attention, and help the country prepare its positioning at home and abroad.
The Space20 is the newest sub-forum of the G20 initiated by Saudi Arabia, with the support of the United Nations Office of Outer Space Affairs. India, on its way to the G20 presidency in 2022, should set a comprehensive Space20 agenda for the democratization of outer space, whereby it can share its space growth story with the developing world and achieve its goal to become a global knowledge epicenter.
The G20 will prove vital in maintaining economic balance in the post-COVID world. The strains are many, but like the financial crisis of 2008, this could be a defining moment for its members to exercise delicate diplomacy to combat the challenges of COVID-19.
Don Stephenson, former Chief Trade Negotiator, India-Canada Comprehensive Economic Partnership Agreement, discusses how India and Canada can work together on effecting reform in the World Trade Organization
The immediate panic in the aftermath of the missile attack on Saudi Aramco’s facility at Abqaiq underlines the still-critical role of the Kingdom to the world economy. The subsequent recovery of oil production – with no disruption – showed that Saudi Arabia is a reliable partner/guarantor of energy supplies. Our Energy and Environment fellow Amit Bhandari was in Riyadh recently for a conference, and describes a post-Abqaiq Saudi Arabia