New Delhi: As the world awaits the climax of the 18th G20 Leaders Summit, scheduled to begin on Saturday, world leaders have started arriving in the national capital to deliberate on a host of economic and developmental issues. The President of the United States of America, Joe Biden, will also arrive in the city on 8th Sept 2023. During the gathering of the world’s leading economies at the Summit, several issues ranging from food and energy security to clean energy transition, climate change, and strengthening the capacity of multilateral development banks, are likely to be advocated at length.
The Group of Twenty economies accounts for over 85 percent of global GDP and 75 percent of international trade, making the grouping the primary engine of global economic growth. India assumed the Presidency of the G20 at a time when global headwinds, such as slower economic growth, rising inflation, food and energy security, and climate change, are posing serious challenges.
India is leveraging its G20 Presidency to establish itself as a global powerhouse, advocating for the hopes and aspirations of many developing nations. India expects to guide international cooperation to safeguard global stability and prosperity by advocating for the voice of the Global South and the inclusion of the African Union in the G20 forum.
Under its Presidency, India has focused on facilitating global investments and trade, empowering MSMEs and startups, emphasizing the merits of digital public infrastructure and fintech, advancing climate initiatives and clean energy, and strengthening multilateral institutions. India’s G20 presidency carries profound significance, as it has opened several avenues for the Indian economy, attracting investments, promoting startups and MSMEs, fostering innovation, and deepening cultural engagement.
