TECHNOLOGY THE KEY TO INDIA'S TRANSFORMATION

The G20 presidency gives India a vital platform to take its prowess in creating population-scale digital goods to the global stage

IT’LL BE A watershed moment for India as it hosts the G20 Leaders’ Summit for the first time in September this year. Made up of 19 of the world’s largest economies and the European Union, the G20 members account for roughly 78 per cent of the world’s trade, 85 per cent of the global GDP and two-thirds of the world population.

Initially conceived during the global financial crisis in 2008 to facilitate economic cooperation in a rapidly globalising world, the G20 presidency for India has come at a time when the world is grappling with the Russia-Ukraine war, and intensifying geopolitical tensions in the South China Sea. What’s more, the world is still struggling to recover from the widespread upheaval caused by the Covid-19 pandemic. The major disruptions in food, energy and various other supply chains have left nations looking for greater self-reliance while establishing new partnerships. This presents India with an opportunity to assert its role as a trusted partner in the post-Covid-19 world.

India has aptly chosen a timely yet timeless theme of “Vasudhaiva Kutumbakam” for its G20 presidency. This Sanskrit phrase taken from India’s old scriptures that means ‘The world is one family’, highlights the crucial need for unanimity amongst humanity in our interdependent and interconnected world, which is a pressing need of our times.