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India’s 2047 goals will guide G20 presidency

by Index Investing News
December 22, 2022
in Opinion
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India assumed the G20 presidency on December 1, and since then, the world has witnessed the essence of Indian hospitality. With a vision of a shared future, India looks to the G20 presidency as an opportunity. Today, the world is facing unprecedented challenges, thanks to the after-effects of Covid-19, global conflicts, an impending climate crisis, and economic uncertainty. Over the last couple of years, much of the global energy has been focused on protecting lives during the pandemic and preserving livelihoods affected by it. India’s presidency allows the world to focus on the 4Ds: De-escalating conflicts, more digitalisation to enable fast-paced, equitable and inclusive development and striving for an equitable framework of decarbonisation to fight the climate crisis.

Prime Minister (PM) Narendra Modi’s statement — today’s era is not an era of war — during his meeting with Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation summit in September resonated across the globe. The statement also formed the basis of the joint declaration of the G20 on the Russia-Ukraine conflict. The G20 provides an opportunity to continue to espouse the de-escalation of global conflicts. Multi-alignment and the promotion of rules-based multilateralism have been the essence of India’s foreign and economic policy. India is a part of several multilateral forums, and each of them has played a constructive role in making the world safer and more secure. It has also been able to voice the concerns of developing nations and ensure that their interests are protected. With the G20 presidency, India can act as a bridge between the large and powerful nations where it belongs and the smaller, developing nations that trust it.

Between 2005 and 2021, India pulled out 415 million people from multi-dimensional poverty. Over the last eight years, we have seen an acceleration in poverty alleviation through technology and digitalisation. In 2014, India embarked on a government-led drive where close to 500 million bank accounts were opened for the poor and underprivileged, including 260 million women. With India’s Digital Identity system — Aadhaar, and a Unified Payment Interface (UPI) — interventions and welfare transfers have been targeted at an individual level.

In the 1980s, a former PM remarked that only 15% (15 paise of 1 rupee) reached beneficiaries. In 2020, while the world was in the middle of a pandemic, India was able to secure the livelihood of the poorest by making critical targeted cash transfers. Today India’s world-class digital public infrastructure of identity systems and real-time payment systems is a model for the rest of the world. Even during Covid-19, the vaccine platform, CoWin, helped India scale its vaccination efforts and administer more than two billion doses. The developed and developing world can emulate these systems, and India will be sharing its experience and learnings with them.

As the Indian economy grows and Indians become more affluent, India’s energy needs will also rise. In 2015, at the COP21 summit in Paris, India committed to 40% of its energy from non-fossil fuel sources by 2030. This target was achieved in November 2021. India has shown the world that pursuing a development agenda and protecting the environment can go hand-in-hand. India has been crucial in promoting multilateral initiatives such as the International Solar Alliance. PM Modi has often spoken about tackling the climate crisis through climate justice — an equitable framework with differentiated responsibilities where the developed world leads in climate finance and technology transition. India has the credibility to continue this dialogue into the G20 and ensure that these differentiated responsibilities are adhered to.

India has freely shared ideas and knowledge across the world. The theme for India’s presidency of the G20, One Earth, One Family, One Future, is inspired by the Sanskrit phrase Vasudhaiva Kutumbakam (the world is one family). The theme resonates with our ancient philosophy and sets the course for a joint call for responsibility, action and prosperity. Across India’s 20,000 languages and diverse cultures, the idea of a shared global future and an intertwined world order is a common theme. Kaniyan Poongunranar, the famous Tamil poet in the 6th century BCE, wrote, “All the places on earth are our towns and all the people are our relatives, all are evolved from common ancestors”. These philosophies have not just been handed over from generation to generation but have also been embodied in our national consciousness. It now regularly reflects in how India engages with the world.

In times of crisis and in the middle of the pandemic, India provided Covid-19-related medical and other assistance to over 150 countries. Through the Vaccine Maitri Programme, India provided approximately 75 million doses of the Covid-19 vaccine to 94 countries and two United Nations entities. During the hostilities between Russia and Ukraine, the government evacuated 22,500 Indian students by operating more than 90 flights and rescued more than 150 foreign nationals from 20 countries.

As India assumes the G20 presidency, the goals that it has set itself for the next 25 years as a part of Amrit Kaal can form the basis of a shared global future with joint prosperity. India will have an action-oriented and development-oriented presidency striving for a rules-based global order promoting international peace and advocating for just and equitable growth in a sustainable, holistic and inclusive manner. This is very much in the art of the possible.

G Kishan Reddy is Union minister of culture, tourism and development of Northeastern Region The views expressed are personal



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