Vasudhaiva Kutumbakam: G20 Summit India Highlights

 September 13, 2023        

  

 The G20 summit has concluded by announcing India's leadership and organizational skills in front of the countries around the world.  There is no doubt that the joint declaration adopted by the summit is also a success of Indian diplomacy.  This is a conference held at a time of global crises following Covid and the war in Ukraine.  The fundament of this summit is the realization that it is necessary to look at the world from a human-centred perspective beyond any criteria like economic growth or stability. With the addition of the African Union, the G20 has grown into a series of efforts to ensure economic security for all.

New Delhi's announcement to end military operations affecting Ukraine's food and energy security is noteworthy.  It is also noticed that in the absence of the heads of state of China and Russia, who were considered to be the obstacles to the joint declaration; India, as the presiding country, urged other countries to reach a common understanding.  The joint declaration, which suggested that the problem should be resolved through negotiations and not through the use of force, was adopted after long discussions.

The African Union has been demanding permanent membership in the G20 for five long years.  With the establishment of the 55-nation African Union, the structure and nature of the G20 group is changing.  Africa has the richest countries in terms of resources and the poorest in terms of economic conditions.  They saw with dissatisfaction that the rich countries are looking at them with greed because of their abundant resources.  They now also have the right to determine how their resources are to be transferred, managed and made available for the benefit of the world they belong to.

A major gain for India through the G20 was the popularization of diplomacy.  Ahead of the summit, conferences were held in more than fifty cities across the country.  This helped to convey the message of the G20 to the common people.  There may be criticism that this is an exercise by the ruling party to reap political gains since the elections are near. 

The progress achieved by the G20 in the movement for a global biofuel alliance is also noteworthy.  This was the second timely global effort to reduce dependence on fossil fuels.  At the same time, it is important that the move to biofuels should be cautious.  This can lead to reduced food production, loss of microbial habitats and soil health, and disruption of ecosystems.

A major achievement of the summit was the announcement of the India-Middle East-Europe Economic Corridor.  The project will enable cargo transportation from India to West Asian countries including the Gulf and then to Europe by train.  Politically, it can be seen as a challenge to China's Belt and Road network.  However, it should be seen as complementary rather than competitive.  The new corridor is expected to speed up India-Europe trade by 40%.

International cooperation to regulate cryptocurrencies was also agreed in the summit.  At the same time, the World Trade Organization's (WTO) stand to end subsidies in the fisheries sector has been raised in the New Delhi Declaration.  The remarks in the announcement contradicted India's position that the immediate withdrawal of subsidies would be a setback for small-scale fishers.

Like a family, we support each other on the path to growth; Prime Minister Narendra Modi said before the G20 summit.  May the outcome of this summit confirm it.

Mekha. C.M, Assistant Professor of Commerce, Al Shifa College of Arts and Science, Kizhattur, Perinthalmanna