Workshop On G20 Presidency: India to play strong role in addressing global financial issues says CUAP V-C Kori

Anantapur: India sees its G20 Presidency as a catalyst for change and transformation of the world, which is stricken by multi-dimensional crises, such as food and energy security, which have been accentuated by geopolitical tensions, observed Central University of AP Vice-Chancellor Dr S A Kori.

Delivering the keynote address at the workshop on ‘G20 presidency-India’s re-emergence,’ Dr Kori opined that at a time when the world is mired in conflicts that jeopardise lives of ordinary people, India will harness its G20 Presidency to forge constructive and consensus-based solutions to a host of challenges such as reviving global growth, stronger climate action and robust global health architecture.

The Modi government is strong on its external affairs policy and celebrates its remarkable progress in many fields. From record agricultural production to advancements in nuclear and space technology, from ensuring affordable healthcare to setting up world-class educational institutions, from Ayurveda to biotechnology, from establishing giant steel plants to becoming an IT power and having the third biggest startup ecosystem in the world – India’s success has been phenomenal.

India played a pivotal role in the formulation of the United Nations Agenda 2030 and much of the country’s National Development Agenda is mirrored in the SDGs. In this sense, the progress of the world to meet the SDGs, is largely depends on India’s progress.

And India’s successes and experiences are critically important to tailoring global solutions.

In a world fragmented by polarising conflicts and decline of global institutions, the G20, which represents 85 percent of global GDP, 75 percent of international trade, and two-thirds of the world’s population, will become more important than ever before. India, as G20 President, will seek to bolster the G20’s status and authority as the premier global forum for cooperation on global economic and financial issues. Promoting food and nutrition security will be an important priority as the Covid-19 pandemic has pushed millions of people into poverty.

India focuses on fast-tracking the Sustainable Development Goals and leading the world to adopt an eco-friendly sustainable lifestyle. With its core strength in information technology, India focuses on making digital architecture inclusive so that it can become a catalyst for socio-economic transformation. Promoting inclusive growth and development, with focus on inclusive finance, will be a key priority.

To advance energy transition, India supports transformation and diversification of energy systems for accelerating and ensuring clean, sustainable, and affordable energy transitions. In this regard, India advocates continued support for developing countries, especially the most vulnerable ones, in terms of providing access to affordable, reliable, sustainable, and modern energy, capacity building, affordable latest technology within the public domain, mutually beneficial technology cooperation, and financing mitigation actions in the energy sector. Digital transformation is the key to achieving scale and speed in critical areas including promoting transparency in governance.

In conclusion, India’s priority is to internally consolidate its capabilities on a more sustained basis so that it can stand up to Beijing’s global designs. This will have to be supplemented by building serious partnerships that can add value to India’s growth story.

Recalling Prime Minister Narendra Modi’s assertion that “India’s G20 Presidency will work to promote this universal sense of one-ness. Hence our theme – One Earth, One Family, One Future.” He further envisions India’s G20 agenda to be “inclusive, ambitious, action-oriented, and decisive.”

Thus, India’s G20 Presidency offers it an opportunity to steer the world toward inclusive and sustainable growth.