The three components that should drive India’s G20 Presidency include its political narrative, its development story, and its role execution, said Mr. Amitabh Kant, G20 Sherpa, Government of India at AIMA’s 8th National Leadership Conclave.
Mr. Amitabh Kant, G20 Sherpa, Government of India keynoted a Session at AIMA’s 8th National Leadership Conclave on the theme- ‘G20- India takes the lead’. And here are some noteworthy things that he shared.
Mr. Kant started off by saying that the world is in the midst of turbulent times, there is upheaval and the world is also facing a severe recessionary trend. Many countries are facing a severe global debt crisis. The post-Covid era has put many people under the poverty line and millions have lost their jobs.
These crises don’t just impact a country but the world as a whole as we’re all interconnected in a globalised world. Hence the G20 is important as any decision taken by it is important to the global economy, he said. G20 is actually an economic grouping of Finance Ministers and Central Bank Governors to drive economic growth, prosperity, progress and ensure good financial management of the world. Whenever there has been an economic crisis, G20 has stepped in and taken measures to solve it, he added.
For India having taken up the Presidency this year, there are 3 important components that determine it-
- Its political narrative– Since G20 is a Leader Summit, Shri Narendra Modi, Prime Minister of India will be the Leader in the course of the year. Since he has been elected PM twice, it proves that he has a strong acceptance in a vibrant democracy. The development story that India has built up of a young country headed for progress and growth will go a long way. A country that has undergone a tremendous digital transformation and the infrastructure has undergone a complete overhaul. So, it is the story of India that the world has to know.
- The priorities that India has built up– How does it want to drive the global economy? How does it want to drive the world in the future? Covid has impacted lives and so has inflation and many have gone under the poverty line, hence the pace of economic growth has to be accelerated. Climate actions have to be initiated due to multiple environmental issues carbonisation has created. India’s challenge is to industrialise without carbonising, so it has to adopt the green growth approach. Digital payments have to be fostered in the best way possible. Women-led development initiatives have to be pushed further.
- Execution of the Presidency role– With the world caught up in conflicts and jeopardising the lives of many people, India will have to harness its G20 presidency to reach constructive solutions to various challenges, like reviving global growth, more decisive climate actions and robust global health architecture. The Presidency role is a medium of change and world transformation for India. With information technology as its core strength, India should focus on making digital architecture inclusive of becoming an agent of socio-economic evolution. And its key priorities will be to promote inclusive growth and financial inclusion.
Watch the full Session- https://www.youtube.com/watch?v=iTJytJFFPoQ&t=721s