All eyes on the crucial G20 Summit

Heads of States/governments of 20 nations in the world are meeting for two days in New Delhi from today to unite with a common purpose to forge an equitable, sustainable, and just global order. India’s ascent to its presidency accrues from its status as the fastest growing economy as well as passionate enunciation of its universal outlook on shared values and interlinked destinies. Ever since it became G20 president, India has been stressing the immediate need for economic impetus to climate action, unhindered global food chain, debt restructuring and greater trade facilitation. Its clarion call for women empowerment is also noteworthy. India’s considerable time and efforts as the President of G20 stemmed from its conviction in ‘Vasudhaiva Kutumbakam’ - One Earth, One Family and One Future. Its leadership, global reputation on the back of Modi’s personal heft, and diplomatic efforts will be put to a severe test in the crucible of G20 where ways for a global governance can be catalysed.

The G20 was founded in 1999 in response to the Asian financial crisis. In subsequent years, it started addressing global economic challenges. EU is part of it now. It accounts for about 80 per cent of the world’s economic output. Naturally, the vast number of countries outside the forum as being least income developing countries, most of which exist in Africa. The consensus reached ahead of the summit on granting membership to African Union, as was done in the case of European Union, speaks volumes about the values of a shared vision and wisdom.

The world is now waiting with bated breath to know if the G20 summit will become a game-changer or not in providing insurance against multiple certain as well as unforeseen shocks in store which a fragmented world is least prepared to grapple with at individual level, whether that shocks be weather-related, economic or geopolitical conflicts.

The kind of international cooperation witnessed during the Covid-19 pandemic is imperative now as the world is faced with unprecedented challenges yet again. Geopolitical clouds are hanging over the summit which is essentially not a forum to deal with that contingency, however immediate it might be. It has enough obstacles to address in charting a course to stop climate degradation, growing economic stress, persistent trade irritants and technology transfers, crypto, money laundering, terror financing etc. India’s earnest nudge to the other G20 members, under PM Modi’s energetic leadership, helped bring these issues to the fore.

Even as India is galvanising the various fora, including G20, to find solutions to these issues, geopolitical issues such as Russia-Ukraine war, China’s expansionism in South China Sea, South Sudan, Myanmar, and other regions etc., threaten to torpedo the agenda and stymie a joint declaration. The West and the US insistence on censuring Russia and China, and natural opposition by China and Russia to any such bid to fault them may cast the other pertinent issues off the table. One hopes the intense deliberations afoot for some time for convergence on geopolitical issues would come to fruition, in the form of a just appeal for peace talks and ending of hostilities, and effectively draw the core attention to a joint action to walk the talk on equally pressing issues. Else, the summit will end up as another talking shop.