India's G20 Stewardship: A New Model for Global Problem-Solving
As Prime Minister Narendra Modi prepares to attend the 20th G20 Leaders' Summit in South Africa, former G20 Sherpa Amitabh Kant reflects on India's groundbreaking presidency of the forum. According to Kant, India's G20 presidency demonstrated effective methods for solving the world's multiple overlapping crises, commonly referred to as polycrises.
Strengthening the Global South's Voice
The G20 was originally established during times of economic turmoil, with the recognition that emerging economies must have a seat at the global governance table. Without the participation of these nations, international institutions would struggle to fulfill their mandates effectively. India's leadership during its presidency significantly amplified the concerns and perspectives of developing nations, creating a more inclusive dialogue.
From Financial Crisis to Comprehensive Governance
Initially formed as a gathering of G20 finance ministers and central bank governors, the forum underwent a significant transformation during the 2008 global financial crisis. In 2008, the G20 was elevated to the leaders' level to better coordinate a response to the worldwide economic emergency. This move recognized that complex global challenges require high-level political commitment and coordination across multiple domains.
Prime Minister Modi's upcoming travel to South Africa for the weekend summit continues India's active engagement in global governance. The South Africa Summit represents another opportunity to build upon the foundations laid during India's presidency, particularly in addressing the interconnected challenges facing the world economy and global stability.
Amitabh Kant, who served as both India's G20 Sherpa and CEO of NITI Aayog, emphasizes that India's approach during its presidency provided valuable lessons in multilateral cooperation. By bringing diverse voices to the table and focusing on practical solutions, India demonstrated how international forums can effectively respond to complex, simultaneous challenges affecting multiple regions and sectors.
