WHEN PRIME MINISTER Narendra Modi asked former Niti Aayog CEO Amitabh Kant to take over as G20 Sherpa, after India assumed presidency of the bloc, his message was clear: that “this was a great opportunity for India -- an opportunity to emerge as a global leader through driving consensus on critical issues facing the world”.
With the global economy facing uncertainties and headwinds, in addition to geo-political tensions, and the spectre of another wave of Covid, the significance of a bloc like G20 becomes much more than what it is often perceived to be -- a global ideation lab.
G20 accounts for 85 per cent of global GDP, 75 per cent of global trade, and 60 per cent of global population. It aspires to bring together the developed and developing world, and drive global consensus. Some perceive the G20 as “a counterbalance to G7” (G20 include all G7 members), while some also like to believe that India “should use its G20 presidency to play an ideal mediator between the West and the non-Western world”.
Among important takeaways from past presidencies were the creation of the Financial Stability Board, and suspension of debt repayment for low-income countries.
With India as the fastest-growing economy, also acknowledged as the bright spot in the world, the year-long presidency presents it an opportunity to drive a consensus on major macroeconomic issues facing the world that have a significant bearing on the Indian economy and businesses as well.
Denne historien er fra 22 April 2023-utgaven av Business World India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra 22 April 2023-utgaven av Business World India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
