Vasudhaiva Kutumbakam- India’s G20 Presidency

Since the announcement of G20’s presidency for 2023, all eyes have been on India. Global experts and leaders have hailed this as an exceptional and unparalleled opportunity for India with massive scope and potential. G20’s presidency is a huge opportunity as it will help India spearhead cooperation among states to address global challenges and promote international economic growth, which is the goal of the G20 organisation. The G20 includes the world’s 19 wealthiest nations plus the European Union, accounting for 85% of global economic output and two-thirds of its population.

India’s presidency of the G20 is an important platform for advancing its interests and promoting the country on the global stage. India’s priorities for the presidency have been centered on inclusive growth. Priorities include Inclusive & Resilient Growth, Green Development, Climate Finance & LiFE, Accelerated, Multilateral Institutions for the 21st century, Technological Transformation & Digital Public Infrastructure, and Women-led Development. In addition, the principles of social welfare and equitable distribution are well reflected in the commitment to achieving the goal of continuous improvement in the population’s living standards and making the world a better place.

In its ongoing G20 Presidency, India strives for equitable access to healthcare for all. India has been shifting from a volume-based to a value-based healthcare system. “With the G20 presidency, we have the opportunity to create multilateral collaborations between countries facilitated by knowledge sharing and leading to the formulation of effective policies aiding accessible, affordable, and quality healthcare to citizens across the world”, Bharati Pravin Pawar, Minister of State for Health and Family Welfare said.

India, being the only major global economy slated to have 6+% GDP growth figures in the years ahead, outpaced Britain last year to become the fifth-largest economy in nominal GDP terms. The G20 presidency in the current challenging scenario has given India a big opportunity to push its role in the world economic order. With the theme of ‘Vasudhaiva Kutumbakam,’ India is leading an ambitious, people-centric agenda to address global challenges and facilitate sustainable economic development.

Last year, India was part of the G20 Troika, comprising Indonesia, Italy, and India. During India’s presidency, India, Indonesia, and Brazil form the troika. This is the first time when the troika consists of three developing countries and emerging economies, providing them with a great voice at a crucial time when the fundamentals are moving fast in a reset mode. The G20 Presidency is a highlight for India as it highlights the “Amritkaal,” a 25-year period commencing from the 75th anniversary of its independence on August 15, 2022, leading up to the centenary of its independence.

India has been active in G20 meetings and has taken a leadership role in several areas, such as promoting inclusive growth, increasing investment in infrastructure, and strengthening financial regulation. India has also used its membership in the G20 to advocate for developing countries’ interests and promote economic cooperation and integration between developed and developing countries. World Bank believes that India is undeniably a global powerhouse and that the Indian presidency of G20 will unleash its potential. With the right focus and efforts, the World community can look forward to the birth of an equitable representation from the advancement of the G20.

For Hindi Readers:- वसुधैव कुटुम्बकम – भारत की G20 अध्यक्षता