India will host the G-20 summit next year but what will be the agenda and challenges for the meeting even as world economies trying to come out of the ill-effect of the corona pandemic and the Russia-Ukraine war tells Amitabh Kant, G20 Sherpa, Ex CEO Niti Aayog.
The G-20 comprises 19 countries and the European Union. Collectively G-20 accounts for 85 percent of global GDP, 75 percent of international trade, and 2/3rd of the population of the world making it a premier forum for international economic cooperation. As the G20 President India will set the agenda for the year, identify the themes and focus areas, and conduct discussions and work on outcome documents.
“The G20 countries are very significant and important as they drive the global economy. What is decided at the G20 summit really decides the future of the world. This is a very important presidency year as there are global conflicts right now, and there is a huge amount of restructuring of the global supply chain, there is a global debt which is at an all-time high,” says Amitabh Kant, G20 Sherpa, Ex CEO Niti Aayog
“Therefore the challenge before the G20 is to accelerate inclusive and sustainable growth. There is a challenge in ensuring that there is climate action and that there is an adequate flow of climate financing to emerging markets and developing countries. There is a challenge to using technology to leapfrog. Also, due to Covid, a vast number of people have been left behind in terms of health, education, and nutrition, and therefore accelerating the pace of sustainable development goals is a key challenge,” adds Kant.
“India has demonstrated to the world that you can use digitization to leapfrog and therefore India provides a unique opportunity to achieve digital public goals. What India achieved in the last six-seven years would have taken it 60-70 years but India accelerated the pace of digital transformation. This is a lesson for many countries of the world and we need to bring to the knowledge of the world what we have done and it is possible to use technology to leapfrog,” says Kant.
“Instead of data being owned by big techs the data should be owned by individuals. Consent is critical and digital identity is required and more than three billion people need digital identification. So there is a huge narrative the Indian success story brings out. During G20 Presidency we will use this opportunity to spell out India’s narrative,” he says further.
India will host the G-20 summit on the 9th and 10th of September next year. In about the next three months India will be assuming the Group 20-year-long presidency from the 1st of December 2022 till the 30th of November next year.