G20 Summit 2022 in Bali EXPLAINED: History, significance and India's agenda
G20 Bali, 2022
The G20 summit, that brings together the leaders of the world's largest economies, will take place on Tuesday in Bali, Indonesia. The G20—a group of 19 nations plus the European Union, comprises almosttwo-thirds of the world's population, 85 per centof global output, and 75 per centof world trade. As of 2022,Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union make up the group's 20 members.
History and significance of G20
Created in 1999 with the intention of bringing the most significant industrialised and developing nations together to discussglobal economic and financial stability, The G20 leaders' annual meeting, which started in 2008, has grown into a significant forumfor talking about economics and other urgent global concerns. Despitethe group's effective involvementin the 2008 financial crisis, its coherence has subsequently deteriorated. For instance, analysts had heavily criticisedits mediocre response to the COVID-19 outbreak.
The G20 leaders gather annually to coordinate policies on an array of issues. Examples include the 2009 G20 summit debate about how to deal with a clandestine Iranian nuclear facility and the 2017 summit discussion of how to implement a partial cease-fire in Syria. The G20 is not an organisation with a permanent location, personnel, or offices. Instead, it has a consensus-based decision-making process, a yearly leadership rotation among its members, and depends on the political will of each member state to carry out its goal.
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Key issues of G20 Summit this year
In addition to the keynote addresses by world leaders, a rangeof bilateral talkswill take place against the backdrop of ongoing tensions around the world, including those caused by the invasion of Ukraine and the ensuing economic and environmental consequences, the climate crisis, North Korea's simmering nuclear programme, and China's expanding global aspirations.
Since the onset of the COVID-19pandemic, this meeting of world leaders has grown significantly, and Indonesia, the host nation, has created an agenda that sheds importance onrenewable energy, global health initiatives, and economic recovery from the pandemic.
What is India's agenda at G20?
Prior to his arrival in Bali, Foreign Secretary Vinay Kwatra stated on Sunday that Prime Minister Narendra Modi will meet with several global leaders and discuss India'sshifting G20 goals with them.
Indian PM Narendra Modi will take part in three important sessions on food and energy security, digital transformation, and health, according to Kwatra. He and other world leaders will also hold extensive discussions on a number of contemporary burning topics, including the state of the world economy, issues pertainingenergy, environment, agriculture, health, and digital transformation.
PM Modi’s G20 logo drawsinspiration fromthe colours of Indiannational flag: saffron, white and green, and blue. According to an official statement, it contrasts planet Earth with the lotus, India’s national flower that represents growth in the face of hardship.
Challenge ahead for India
As it takes over the G20 presidency, India has enormous roadblocks to face.Inclusive, equitable, and sustainable growth, women's empowerment, digital public infrastructure and tech-enabled development, climate funding, global food security, and energy security are just a few of India's G20 goals, but making them happen is going to be a task for India.
In recent times, the G20's reputation has taken a hit. It is close to a catastrophe because it is all too clear that there is an internal strife. The West and Russia have refused to agree on anything;they even resisted sitting down and talking about their issues.Thus,India has the tedious job of resolvingdisagreements and lead from the front.
Key meetings
US president Joe Biden and Chinese president Xi Jinping will have their first face-to-face meeting as leaders on Monday afternoon in Bali, albeit it is not strictly a G20 meeting. The outcomes of the US midterm elections have given Biden a greater political clout, and he has stated that he would work to set red lines in the US-China relationship that enable competition and coexistence. He's also expected to issuewarning against an invasion of Taiwan andefforts to restrict navigation of the South China sea.
G20 attendees
Rishi Sunak, the new British PM, is travelling to Bali to take on his first significant diplomatic test. He is anticipated to draw his attention to the invasion of Ukraine by Russia and to emphasise support for Kyiv.
Additionally,Biden and Sunak will have their first in-person meeting at Bali. US officials have increased pressure on both parties to reach a consensus on the Northern Ireland protocol before the Good Friday Agreement's 25th anniversary in 2023.Although President Vladimir Putin has pulled out, Russia will be represented by his seasonedforeign minister, Sergei Lavrov.
(With inputs from agencies)
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