INDIA'S GAINS FROM ITS G20 PRESIDENCY

At the very outset, a large number of commentaries have described India’s G20 presidency as unprecedented. Dozens of firsts in this year’s proceedings have already made it unlike any other G20 presidency so far. And, by most estimates, this India imprint on G20 is likely to be most enduring and impactful.

- Prof Swaran Singh

Amongst the most visible changes in 2023 will be the G20 becoming G21. Starting from twenty finance ministers meetings following the East Asian financial crisis of 1997 and their upgradation to leaders summit meetings following the global economic slowdown from 2008, for the last quarter of a century, it had remained a grouping of the world’s twenty largest economies. Now, with 55 African nations joining this elite grouping with the African Union being conferred permanent membership is a ground-breaking event with implications far and wide.

The second fundamental change during India’s presidency has been this elite club being transformed into the People’s Festival. G7, which has since expanded to G20, used to see their summits facing street protests by people many of whom were seen sitting in 2023 G20 meetings. Over 220 events in 60 cities over the last ten months saw India hosting over 100,000 foreign delegates from over 45 countries. It saw the addition of several new Officially Engaged Groups and their Working Groups thus adding a whole range of new themes. Nearly eight million Indians were directly or indirectly involved in these proceedings.