G-20, you must have heard this word in the last few days, and this event was

a big victory for India. The

interesting thing is that the world media had predicted that the G-20 summit would fail. India will not be
able to handle it. But India proved all those critics wrong. How? Let me explain. India is the President of
G-20 in 2023. More than 200 events were planned in cities of all the states and union territory of India,
in which big leaders from all over the world, and a total of 25 ,000 people from 125 nationalities
participated. And you will be shocked to know but India got 100% consensus i.e. full support. This is a
huge victory for India. But what does it mean? What difference does just having meetings make? Did we
just talk or even achieve anything in this presidency? There are five big victories . G-20 countries
represent 60% of the world's population, 75% of trade, and 85% of GDP. The Asian Financial Crisis
occurred in 1997, which had an impact on the entire world. Before G-20, G-7 was the original alliance,
like the first Avengers. But after the Asian Financial Crisis, they realized that if they wanted economic
stability, then cooperation of other countries was also needed. In 1999, the Avengers expanded and new
faces appeared. Today G-20 is formed by combining 19 countries and the European Union. Victory
number 5:

The G-20 Presidency is an excellent opportunity to present the face of changing India to the world, and
that is what we did. Be it the seamless payment facility of UPI, our culture, or the developing
infrastructure. This is Bharat Mandapam. India's most hi-tech convention center spread over 123 acres. It
was inaugurated on 26th July 2023 at Pragati Maidan. Big leaders of the world like America's President Jo
Biden, UK's PM Rishi Sunak, and Australian PM Anthony Albanese w ere present here. This year India
was the President of G-20, so with this presidency comes some special powers. One of those special
powers is the power to specially invite countries other than the G-20 countries. India used this power
well and invited countries like Bangladesh, Singapore, and UAE. Among these big names, two important
names were missing, and that is China's Xi Jinping and Russia's Vladimir Putin. Ukraine's Zelenskyy was
also not seen at the G20 summit. These countries are part of the G-20, yet they did not come to the
summit. Due to the absence of these people, many media houses had predicted that India's G20 would
fail this year, but something else happened. We presented the plan for Digital Public Infrastructure in
front of these big leaders. Digital Public Infrastructure i.e. DPI, includes technologies like our Aadhaar,
UPI, and DigiLocker. Just like we have DPI, different countries also have it. If all the countries share
technologies, we can create better systems. This is the proposal we put forward to the world leaders,
and wanted to establish the One Future Alliance, that is why it was important for all these leaders to
come together on one platform. Along with this, leaders of the African Union were also present here.
You see, the presence of developed countries or developing countries is understandable, but why was
Africa here? Victory number 4: This G20 summit is going to be historic and the main reason for this is
Africa. India has expanded G-20 to G-21 forever. Africa will also be a part of this global group. Just as the
G-7 countries included the developing countries of Asia, similarly India made the African Union a part of
the G-20. This is a big move. But why? African Union consists of 55 countries, whose total population is
1.3 billion. These include important countries like Egypt, Ethiopia, and South Africa. Africa is important
because Africa is the world's biggest investment opportunity. Africa has a demographic dividend because
their entire population is very young. The average age here is only 18. Kenya's Silicon Savannah is
becoming Africa's Silicon Valley, which is creating startups not by copy-pasting but by solving local
problems. Africa is considered the treasure chest of the world, where agriculture, and rare minerals like
diamond, gold, and lithium are found, which will form the technology of the future, literally like
Wakanda. Therefore, the way and respect with which the African Union was welcomed at the G-20, was
a big victory for India. Imagine, how much trust will increase for India in African countries because of this
one move. Recently news came that India is going to invest 150 billion dollars in Africa. The African
partners' trust in Indian leadership is nothing less than a master stroke. Victory number 3: Amitabh Kant
was the Sherpa of our G-20. He has said that this year's G-20 will be known for its impact because we
have achieved 112 outcomes, That means our discussions brought results which include important
results like economic growth, sustainable development, climate change, finance, private sector
involvement, and eliminating child labor. At the same time, we have also used this opportunity to show
the mirror to the world. We said that we will not be able to achieve the sustainable development goals
that the whole world has set for 2030. Only 12% of the targets are on track, and we all need to gear up
and work hard. All these things are part of the New Delhi Declaration. And the surprising thing is that
countries like Ukraine have also expressed support for India. In the last one year, we adopted the path of
non-alignment in the Ukraine-Russia Conflict. Ukraine's leadership is upset with us about this, but getting
their support in the New Delhi Declaration was a big victory. Today there is a lot of tension in the world
at the geopolitics level. Like Ukraine, there is a possibility of an attack on Taiwan at any moment. A new
cold war may start with China. In such a situation, reaching a consensus on all these issues in the G-20 is
a big victory for India. And it is not about 1-2 issues, it is about 112 different issues. Victory number 2:
You must have noticed that G-20 events were taking place in different states and different cities in India.
This means that G-20 events took place in Arunachal Pradesh and Kashmir also. This is an excellent
diplomatic victory because no country directly stands up against Pakistan or more importantly China, but
the leaders of these countries attended the Indian G-20 events held in Kashmir and Arunachal. This was
an indirect support for us. And this message must have reached the leadership of Pakistan and China.
Planning any big event in Kashmir is a challenge. One small mistake, one security failure, and negative
headlines around the world, this was a very feasible possibility. But India has proved on a global stage
that stability is coming back in Kashmir. It was just a few days ago that the incidences of stone pelting in
Jammu and Kashmir have reduced by 99%. Law and order is returning. Similarly, hosting the G-20
meetings in Arunachal is an important message for China, because China keeps building its settlements
on the borders of Arunachal. They had recently released a new map where they had declared Ladakh
and Arunachal as part of their mainland. The G-20 meetings held there were a soft message against
China's ambitions. But there was also a strong message for them which is our number one victory.
Victory number 1: India-Middle East-Europe Corridor. China's flagship project is the Belt and Road
Initiative, through which China wants to connect many countries in Asia with Europe. In this, China has
already invested close to one trillion dollars, either by giving low-interest loans or by starting
construction contracts. And this step by China has shaken the whole world. During Covid, the world
realized how dependent it is on China. Despite directly impacting the world economy, no one has been
able to do any harm to China, and there are two main reasons for this. One, the entire world's supply
chain is dependent on China. And two, all the world organizations like the World Health Organization,
World Trade Organization are in China's pocket. After BRI, China's influence on world trade will increase
further. So there is a strong need for an alternative so that trade remains free and open. No one should
have dominance here. And with this objective India-Middle East-Europe Corridor is going to be launched.
Joe Biden calls it a big deal. But why? Here we are going to use railways and waterways. Along with us,
Saudi Arabia, UAE, Israel, Jordan, and the United States will be part of this project. Along with this,
France, Germany, Italy, and some EU countries will also participate in it. Here PM Modi has highlighted
an important thing. This photo is going to be a nightmare for China, where Saudi's MBS is shaking hands
with the President of America. In this grand project, we will connect to UAE through the sea route, then
the connection will be made to Europe via Saudi Arabia, Jordan, and Israel. Within the next 60 days, its
plan will be made and its execution will also start. And this is not us, the American President himself has
said this. This is India's impact, which is the result of foreign visits in the last few months. The next step
would be for India to bid for the permanent member seat of the United Nations Security Council, and I
am sure full-fledged work on this will start as soon as the G20 summit is over. The truth is that 2023 is
going to be an important year in world history. This year will be remembered in the pages of history
because India has now taken up the responsibility of Global South leadership. India has raised its voice
on issues that other countries only talk about or ignore. Yes, there were many shortcomings in the
organization of G20, and many mistakes were also made, but now a question to you, our viewers. Will
we remember our real achievements, or will we just dig deep and find some mistakes? If you learned
something new from this video, then do not forget to follow or subscribe to us on social media, because
India is changing. Those who used to highlight only India's failure are now talking about Chandrayaan,
Aditya L1, and G-20 as well. This change is refreshing and also necessary. Here it is not about the name
but the work, and bringing this important change to you matters to me.

1. Global Debt Restructuring Roundtable: One key achievement is the establishment of a Global
Debt Restructuring Roundtable. The existing common framework within the G20 had limitations,
particularly for middle-income countries like Sri Lanka. The Roundtable aims to address issues
related to debt distress in the global economy. It expands the scope beyond the common
framework, including countries that were not covered initially. This move is crucial for a faster
and more transparent decision-making process in debt restructuring, considering the urgency
often associated with such situations.

2. Leadership in Technology for Common Good: India has taken a leadership role in technology for
the common good. With the recent creation of over 500 million accounts, India is demonstrating
its commitment to financial inclusion. The initiative focuses on leveraging technology to provide
banking services to a broader population. Additionally, India is leading discussions on global
financial inclusion through the Global Forum for Financial Inclusion. The emphasis is on
showcasing how public digital infrastructure, which played a vital role during the COVID-19
pandemic, can be used not only in crises but also for long-term improvements in productivity.

In simpler terms, the global economic scenario is complex, with both positive and concerning factors.
China's structural issues pose challenges, while the U.S. faces uncertainties in economic indicators. The
dynamics between inflation, money supply, and corporate stability require close observation.

Global Economy Challenges: China is facing a prolonged economic slowdown due to structural issues like
demographics and financial sector problems. Europe is also dealing with structural problems, making
global economic conditions challenging.

1. India's Achievements in G20: India's G20 presidency marked achievements in global debt
restructuring and leadership in technology for common good, emphasizing financial inclusion
and public digital infrastructure.
India’s G20 (The Group of Twenty) Presidency inherits volatility of geopolitics coupled with a slowdown
in global economic activity. The road ahead for India is full of challenges including the war on Ukraine
and the Covid-19 pandemic threatening the global economy, which is experiencing disrupted supply
chains, cost of living crisis, soaring energy prices and challenges to climate action.

Challenges to India’s G20 Presidency and Effectiveness of G20 Framework.(HT File)

India has chosen the theme – ‘Vasudhaiva Kutumbakam’ or ‘One Earth, One Family, One Future’ for her
G20 Presidency representing a holistic approach of growth with sustainability in consideration of all life
forms in development process linking with the protection of the planet. It serves 20 major economies of
the world; additionally, there are 9 guest countries and 14 multilateral organisations as participants of
G20 including the United Nations (UN), World Trade Organization (WTO), World Health Organization
(WHO), World Bank, International Monetary Fund (IMF), International Labor Organization (ILO),
Association of Southeast Asian Nations (ASEAN), African Union, International Solar Alliance (ISA) and
Coalition for Disaster Resilient Infrastructure (CDRI), among others. G20 is a multilateral framework
addressing various global issues barring geopolitics.

India, as the leader of the G20, has set important priorities. These include addressing challenges like
global inflation, food and energy shortages, and the economic impact of climate change. Multilateral
Development Banks (MDBs) play a key role in tackling these issues, but there are hurdles, especially
related to changes in the US monetary policy affecting developing countries.

India aims to reform governance at institutions like the IMF and World Bank. The focus is on a people-
centric approach, ensuring financial inclusion by redistributing existing resources. However, post-Covid-
19, addressing the economic struggles of developing nations is a tough task.

India, with its experience in digital inclusion, public health, and pharmaceuticals, can bridge the gap
between developed and developing economies. During the pandemic, initiatives like 'Vaccine Maitri'
showcased India's commitment to global well-being.

The Russia-Ukraine war has affected the supply of fertilizers and food globally. India, heavily reliant on
fertilizer imports, faced challenges, leading to increased costs and government subsidies. India's role in
controlling food prices can be seen through tech-based solutions like 'vertical farming,' which uses fewer
fertilizers.

G20 Sherpa Amitabh Kant highlights the challenge of establishing consensus on the G20 agenda. Despite
geopolitical tensions, India continues constructive dialogue, as seen in condemning Russia's actions
against Ukraine. Minister of External Affairs S. Jaishankar emphasizes India's persistent pursuit of
resolutions, signaling broader global cooperation.

In simpler terms, India, as G20 leader, is working on critical issues like inflation, food security, and climate
impact. Challenges include global economic uncertainties and conflicts. India's efforts in global health
and diplomacy demonstrate its commitment to shared solutions despite complex geopolitical dynamics.

G20 provides a collaborative platform for re-affirming the promises of several multilateral organisations.
It also plays a complementary role in implementing the policies for these bodies, for instance, working
towards reinforcing the measures for effective implementation of the Paris Agreement in the UN COP27
climate summit held in Egypt in November 2022 to bring the global temperature down to 1.5 degree
Celsius. The Sherpa declared that ‘climate change and vast targets for net zero by 2050 is a huge
opportunity and not a challenge’. India is offering her rich, ancient and sustainable traditions in favor of
environment-friendly practices over market-based consumerism embodied in the concept of LiFE
(lifestyle for Environment). Green growth will be promoted through climate finance and technology
along with just energy transitions for developing countries. However, it requires a huge capital for the
generation of which G20 can coordinate with IMF and World Bank.

Its Task Force complements the global pandemic new financial intermediary fund for pandemic
prevention, preparedness and response (PPR) architecture hosted by the World Bank in improving the
global health governance system, without further duplicating and disintegrating it. In order to ensure
food security, the Bali Summit also supported the Black Sea Grain Initiative of Turkey and the UN for an
unimpeded delivery of grain, foodstuffs and fertilisers from Ukraine and Russia.

The G20 structures follow up on previous G20 Summit Declarations and coordinate among different
countries and multilateral institutions by sharing the best practices and experiences. In 2023, the Task
Force continues to coordinate through appropriate mechanisms between Finance and Health Ministries
in order to develop joint responses to pandemics and identify economic risks and vulnerabilities from
pandemics, keeping in mind country-specific conditions. It also mobilises financial resources to this
effect.

The effectiveness of G20 can also be understood in terms of its commitment to the principles of
multilateralism and transparent and rule-based multilateral trade. The G20 leaders have been
strengthening multilateral trading system in sustainable and transparent manner, which is defined by
rule-based, free, fair, open, inclusive and non-discriminatory. The Bali Summit pushed for reformation of
the WTO which is crucial as G20 represents 85 per cent of global Gross Domestic Product (GDP), 75 per
cent of international trade and about two-thirds of world’s population. The International Financial
Institutions such as the World Bank and IMF represent post-World War II global situations, whereas
restructured multilateral institutions are required to address the new realities for a post-Covid-19 world.

The emerging economies of the Global South such as India, Indonesia, Mexico and South Africa played
the role of deal maker by bringing geopolitical powers together for the Summit Declaration. In the
immediate aftermath of the Russia-Ukraine war, several Western countries walked out of the G20
plenary meeting in New York in April 2022. Indonesia, thus, showed its creative diplomatic skills of
handling a sensitive global crisis. The Bali Summit has reinforced the relevance of the multilateral G20 for
a global collaboration and cooperation in times of a crisis to work collectively in developing
preparedness and response capabilities to the complex global challenges.
G20 provides an effective multilateral stage for the Global South in raising their agenda with a greater
voice. For the first time, G20 is having only developing and emerging countries in Troika – predecessor
Indonesia, incumbent India and incoming Brazil. The Bali Summit accommodated concerns of the Global
South in ensuring food and energy security, channelising Pandemic Fund for pandemic responses and
enhancing preparedness in tackling climate change. It set the target of reaching a fund of US Dollar 100
billion for climate finance which could benefit developing countries. Indian Presidency is, thus, in
continuation of this trend.