How important is India getting the presidency of G-20 in the midst of the ‘battle for supremacy’ going on in the world?

This year’s G-20 conference has ended in Bali, Indonesia. India remained a shadow in the platform of big countries of the world. But the most discussed are the pictures in which Prime Minister Narendra Modi and Chinese President Xi Jinping are. This was the second time after the clash in Galvan when the two leaders were face to face. Now next year this conference will be held in India. The country in which this stage is set up, also presides over it. For the first time after the Cold War, the world is divided between America and Russia. India has given a message to the whole world from this platform that this is not an era of war. But imperialist China and Pakistan, the stronghold of terror, will understand this message from India. How big a deal is it for India to get the chairmanship of G-20? How do the President of China and Pakistan see this?

What does getting the presidency mean? 

Patna University professor and foreign affairs expert Rajesh Joshi while talking to ABP News, India has got this presidency at a time when the whole world is fighting for supremacy. On the one hand, due to the ongoing war between Russia and Ukraine, the supply chain has also deteriorated and many countries have been divided into two factions. On the other hand, the crisis of trust between the superpowers is deepening. It is a big deal to make India the chairman of the G20 summit at such a time. Prime Minister Narendra Modi echoed the message conveyed by Narendra Modi during his conversation with Russian President Vladimir Putin at the SCO summit in September.

Today India is in a position on the world stage where it can establish dialogue between superpowers. Apart from this, due to India getting this chairmanship, value addition has also happened to our country in front of other countries.

The presidency of India can help our country on the economic front. Understand that if the credibility of India increases, then the international investor will have a more positive attitude towards India. On the other hand, in the last few times, there are many countries which want to take out their companies from China. In such a situation, he can be attracted towards India. This will also increase India’s foreign investment. 

Which countries are included in the G20 group 

G-20 includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, US and European Union (EU). ) are included.

What is the G20 group

G20 is a group of twenty largest economies of the world which decides the direction and condition of the global economy. The agenda of the world’s economies is set during the G20 summit. This group includes the world’s top 19 economies and the European Union. 

85 percent of the world’s trade takes place in G20 member countries only. This organization was created after the Asian financial crisis in 1999 and its real effect was seen after the annual conference of the heads of state of the member countries after the economic recession in 2008. Later on, as the issues of the world changed, so did the agenda of the G20. Climate change and ‘International terrorism’ Issues like this also started being discussed. Now India is going to preside over this conference. In such a situation, our country will have a chance to take the G20 towards its economic goals again.

This group is considered the most powerful group in the world because 60 percent of the world’s population comes from here. Apart from this, if all the countries of the world are combined, 80 percent of the GDP and 75 percent of the global trade is related to the countries of the G20 group. The purpose of forming this group is to secure their financial stability by including middle income countries. Apart from this, it  works to resolve fiscal issues, the group also aims to  oppose corruption and focus on development and energy issues.

G7 to G20

G-20 started as G7. Actually France, Germany, Italy, Japan, Britain, America and Canada together formed the G7. It was called the seven powerful country. After this, Russia was included in this group in the year 1998. This group was named the G8. 

In the year 1999, this group of 8 countries met in Cologne, Germany and where they discussed the economic crisis in Asia. After which the G20 group meeting was held for the first time in December 1999 in Berlin. A change also came in this group that before the year 2008, the finance ministers and governors of the member countries used to participate in this meeting. But since 2008, heads of states also participate in the meeting of the group. 

Global impact of the G20

Talking about the global influence of this group, the G20 has 85 percent of the global GDP compared to all the countries of the world and this group contributes more than 75 percent to global trade. 66 percent of the total population of the world resides in the member countries of this  group. Whereas G20’s global investment is 80 percent. 

The country holding the presidency has to follow the Troika process 

The country presiding over this group has to first follow the process of Troika. In fact, whenever a country presides over organizing the G-20 summit, it has to coordinate with the previous chair country and the country to be chaired so that the agenda of the G20 can be maintained continuously, this is the whole The process has been named Troika. Currently the Troika comprises Italy, Indonesia and India. 

What for India from the summit in Bali 

During the G20 conference held in Bali, in the joint declaration, it was said on the basis of PM Modi’s peace message, "today’s era should not be of war", Influential leaders from around the world gathered for this conference on the island of Bali. Here Prime Minister Modi represented the country in the current situation in such a way that this forum of 19 countries and the European Union was saved from conflict even on political differences. PM Modi left no stone unturned in Bali to showcase India’s capabilities in a world grappling with geopolitical tensions. PM has brought many gifts for India from this conference which lasted for two days.

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