The establishment of the G20 nation itself was a reflection of the realization that economic power has started shifting towards Asia, and emerging markets. It has become clear that only Western countries are not responsible for providing solutions to many of the global problems. This research paper explores the G20 forum and the pivotal moment of India for holding the G20 presidency. It examines how the Indian nation views this opportunity within the context of widespread polarization and escalation of geopolitical rigidities at Global level and how the presidency shapes to strategize India’s domestic political scenario.
Further, the paper also explores the few main domains where India needs to improvise like Technology sector, Data protection bill, Education sector, Agriculture sector, etc. and states few priorities of the Indian G20 presidency.
Lastly, the paper focuses upon the Youth 20 (Y20) which is one of the ten official engagement groups of the G20. It defines the formation of Y20 in every state and their inclusive role in the G20. Overall, this paper provides analysis of India’s presidency highlighting the opportunities and challenges with recommendation on future grounds.
Introduction
The contemporary world is rapidly transforming into a multipolar world system. The agenda to proceed at such an international dynamic apparatus is to establish and ensure effective functioning with greater credibility of multilateral forums, where an alliance of nations plans the course for the future as well as deliberate to find solutions to the persisting circumstances. A relevant example is the G20 forum where member states across the world come together, have dialogues, formulate policies that help to navigate economic and political challenges.
The G20 forum assembles the group of 20 nations of the world’s largest economy, including both developed, developing nations and least developed countries. India has an unprecedented chance to check out its clout and credibility in tackling fragmented global order. India celebrates this G20 presidency form 1st December 2022 till 30th November 2023.
The G20 agenda has been advancing in respect to globalization. Initially, it centered on microeconomic policies like, tightening of monetary policy for persistently high inflation, fiscal policies to address debt vulnerabilities. Nevertheless, it expanded its horizon to inter-alia including trade, climate change, sustainable development, health, energy, and anti-corruption etc. The G20 presidency is critical for diverse reasons. It is an opportunity to rethink the global governance process through International analysis and the timing of India’s center stage with the G20 presidency will play a political trump card through domestic analysis. The objective of the G20 association is to figure out domains where India requires robust strategy for resilient recovery. However, India’s G20 presidency will be expected to champion the cause of developing nations in coping with the climate crisis as it prioritizes Green Development. Alongside inclusive vision, it prioritizes youth in exploring creative solutions towards overcoming local challenges and women to voice the notion of gender equity.
Thus, working on recommendations and suggestions is significant in taking this forum forward and cutting across areas of instability.
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