India’s G20 Journey: From Inclusion to Leadership on the Global Stage

By: Rohan Last updated: September 6, 2023

What is the G20?

The G20 is a group of 19 individual countries and the European Union, representing a diverse array of economic and political systems from every corner of the globe. Established in 1999 in the aftermath of the Asian financial crisis, the G20’s primary objective is to promote international financial stability and sustainable economic growth. The G20 nations collectively account for approximately 80% of the world’s GDP, making it a powerful platform for economic cooperation and policy coordination.

India’s Inclusion in the G20

India holds the Presidency of the G20 from 1 December 2022 to 30 November 2023, relatively early in the group’s formation, reflecting its growing economic importance on the global stage. India’s membership was instrumental in giving a voice to emerging economies and highlighting the need for inclusive global economic discussions. Since then, India has actively participated in G20 meetings and negotiations, contributing to policy development in areas such as finance, trade, and sustainable development.

India as the Host of the G20 Summit

In 2023, India had the honor of hosting the G20 summit in New Delhi. This marked a significant moment in India’s history, as it was the first time the country hosted this prestigious event. India’s role as the host allowed it to set the agenda and showcase its leadership in addressing global challenges. The summit’s theme, “Building Resilient and Sustainable Solutions,” emphasized India’s commitment to addressing issues like climate change, poverty, and public health.

The Importance of the G20 for India

The G20 holds immense importance for India for several reasons:

1. Economic Influence: India is one of the world’s fastest-growing major economies. Participating in the G20 enables India to engage with other economic giants, promote its interests, and influence global economic policies.
2. Inclusivity: The G20 allows India to represent not only its own interests but also the concerns of other emerging economies and developing nations, promoting a more inclusive global economic agenda.
3. Global Challenges: Issues such as climate change, pandemics, and international security require collaborative solutions. The G20 provides a platform for India to work with other nations to tackle these challenges collectively.
4. Trade and Investment: As a member of the G20, India can strengthen its trade and investment ties with other major economies, facilitating economic growth and job creation at home.
5. Policy Coordination: The G20 provides a forum for India to align its economic policies with those of other nations, fostering stability in the global financial system.
6. Soft Power: Hosting the G20 summit enhances India’s soft power on the global stage, showcasing its capability to organize and lead major international events.