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A New Global Vision for G20

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August 11, 2022

What is the issue?

While India has taken a clear view of the role of G20, there is concern that the agenda, themes and focus areas which India will set for 2023 lack vision.

What is G20?

Together, the G20 members represent more than 80% of world GDP, 75% of international trade and 60% of the world population.

  • The G20 is a strategic multilateral platform connecting the world’s major developed and emerging economies.
  • The G20 holds a strategic role in securing future global economic growth and prosperity.
  • Starting in 1999 as a meeting for the finance minister and central bank governors, the G20 has evolved into a yearly summit involving the Head of State and Government.
  • In addition to that, the Sherpa meetings (in charge of carrying out negotiations and building consensus among Leaders), working groups, and special events are also organized throughout the year.
  • India is a member of the G20.
  • The G20 has no permanent secretariat.
  • The presidency of the G20 rotates every year among its members, with the country that holds the presidency working together with its predecessor and successor, also known as Troika.
  • Currently Italy, Indonesia, and India are the Troika countries.

g20What are the challenges in the G20 colloboration?

  • Commitments- Multilateral commitments on aid and trade are faltering.
  • Role of international organisations- The role of the United Nations and the World Trade Organization in securing cooperation between donor and recipient country groups is losing centrality.
  • New socio-economic systems- There are now three socio-economic systems — the G7, China-Russia, and India and the others — and they will jointly set the global agenda.
  • Others
    • Ukraine’s long shadow
    • Rival finance
    • Expanding influence of the trade
    • Value chains dominated by the U.S. and China
    • Reluctance of developing countries to take sides in the strategic competition

What concerns needs to be addressed?

  • Limited focus areas- India should seek collaboration on limited focus areas around science and technology, building on resolutions of United Nations General Assembly and other multilateral bodies.
  • Focus on emerging economies- Emerging economies are no longer to be considered the source of problems needing external solutions but source of solutions to shared problems.
  • The BRICS provides an appropriate model for governance institutions suitable for the 21st century where a narrow group of states dominated by one power will not shape the agenda.
  • Human rights- There should be a global consensus in the Vienna Declaration on Human Rights 1993 reaffirming the indivisibility of all human rights.
  • Ensuring adequate food, housing, education, health, water and sanitation and work for all should guide international cooperation.
  • Quality of households- Principles of common but differentiated responsibilities for improving the quality of life of all households can guide deliberations in other fora.
  • Societal benefit- A forum to exchange experiences on societal benefits and growth as complementary goals would lead to fresh thinking on employment and environment.
  • Tech access- For global society to reap the fruits of the new set of network technologies, open access software should be offered for more cost-effective service delivery options, good governance and sustainable development.
  • Space sector- Analysing Earth observation data will require regional and international collaboration through existing centres which have massive computing capacities, machine learning and artificial intelligence.
  • Open access to geospatial data, data products and services and lower costs of geospatial information technology facilities do not require huge financial resources.
  • Health sector- A major global challenge is the rapidly growing antimicrobial resistance which needs new antibiotics and collaboration between existing biotechnology facilities.
  • Indian Ocean Region for peace- Countries in the region will support building on the 1971 UNGA Declaration designating for all time the Indian Ocean as a zone of peace and non-extension into the region of rivalries and conflicts that are foreign to it.
  • Environment- A Global Financial Transaction Tax, considered by the G20 in 2011, needs to be revived to be paid to a Green Technology Fund for Least Developed Countries.

 

References

  1. https://www.thehindu.com/todays-paper/tp-opinion/a-new-global-vision-for-g20/article65756496.ece
  2. https://g20.org/about-the-g20/

 

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