India assuming presidency of the G20 from December: Key Challenges

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G20 Summit

G20, or group of 20, is a global grouping of the top 20 economies of the World; many of them are developing nations like India. The countries of G20 account for two-thirds of the world population and around 85% of world GDP; this makes G20 one of the most formidable groups in Geopolitical circles.

India is assuming presidency of the G20 from December 2022 for a year. Given the current Geopolitical scenarios, India will confront many challenges during her presidency. This will also test India’s position in Geopolitical spheres. Some of the most critical challenges India may face during its Presidency tenure are:

Russia- Ukraine conflict- The on-going conflict in Eastern Europe, which started in February, has damaged the World enough. This conflict is affecting not only the members involved but also has repercussions around the World.

This war has dragged the World under food shortage as Ukraine is one of the largest producers of wheat and energy shortage, putting Europe into a dilemma. If they buy Russian Gas, it funds the war; if they don’t, their gas bills will skyrocket, given the harsh winters of Europe. As a G20 President India must find a middle path to bring both sides to the table of diplomacy and let dialogues take the course ahead.

Even if the war stops by then which has a low possibility given the current situation, India will have to play a key role in post war construction efforts.

Bridging the Gap between West and China: Although India herself is not on good terms with her northern neighbour but still for the greater good, she must try to bring China-led authoritarian regimes and the US-led developed democracies on the same level to utilize her presidency smoothly and not end up being crushed between these two hegemonies. The tensions between US and China have increased exponentially since Nancy Pelosi visited Taiwan.

Rising Inflation: Inflation, especially the rise in food prices and other essential commodities around the World, is a severe concern for any democratic country. Since the advent of COVID-19, food prices around the World have been on a constant rise; coupled with the crisis in Ukraine, this issue has become graver. Inflation in a Democratic country is not only an economic issue but also can create political turmoil pushing it towards instability.

In the wake of the upcoming G20 summit, where developed and developing economies will come together, India might as well put this issue on the table to create a bright future for everyone. India has also made a list of agendas to be discussed on the forum: sustainable growth, Life (Lifestyle for Environment, proclaimed by Indian PM during COP26 Glasgow), Digital public infrastructure, and things related to Health, Education, culture and Tourism, etc.

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