On November 17, India hosted the Voice of the Global South Summit – the second such meeting this year. While the first summit helped India mould the agenda for its G20 presidency, this latest meeting, convened towards the end of the presidency, was aimed at sustaining the momentum, with the support of developing countries, for the implementation of G20 decisions.
The outbreak of the Israel-Hamas war less than a month after the conclusion of the New Delhi Summit has heightened the geopolitical anxieties that hovered over India’s G20 presidency year. As the baton passes to Brazil, purposeful action, careful diplomacy and managing conflicting interests will be key to the implementation of the Summit’s commitments.
The G20 summit in India and developments on its sidelines like the announcement of the IMEC, multiple bilateral meetings held by Prime Minister Modi, will all have long term geoeconomic and geopolitical impact. These, along with the summit deliberations and outcome are key to assess the future prospects of great power relations.
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.
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.
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
Energy transition is central to the G20 agenda, and during India’s G20 Presidency, the geopolitics and governance of energy have become immensely challenging. What this means is that new technologies, financing and business models are needed for transitions – new tracks for new trains. Financial centres of G20 countries and their significant business communities, like Mumbai, have a critical role to play in creating this new economy.
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.
On 17-18 January, 2023, Rajiv Bhatia, Distinguished Fellow, Foreign Policy Studies Programme, Gateway House participated in the 14th South Asia Conference on the theme “Think20@G20: Towards a Resilient South Asia” hosted by Manohar Parrikar Institute for Defence Studies and Analyses in New Delhi. Amb. Bhatia suggests that in due course, BIMSTEC should be given the status of a permanent guest in G20.
The recent Voice of the Global South Summit in New Delhi attracted 125 developing countries, and some tangible outcomes for India to carry to its G20 presidency agenda. It showed India's equity to be intact, despite a perception that in the past decade, India has moved away from NAM and closer to the developed West.