India Prime Minister Narendra Modi attend a session at the G20 Leaders' Summit, in Nusa Dua, Bali, Indonesia, Wednesday Nov. 16, 2022 | Photo: AP/PTI
New Delhi: India will be hosting over 200 meetings across the nation in 50 cities as New Delhi is set to assume the Presidency of the G20 for one year from December 1, 2022, to November 30, 2023, according to the sources.
India will assume the presidency of the Group of 20 (G-20), the alliance of 19 major economies and the European Union on December 1st of this year.
India will host the G-20 leaders' summit in New Delhi on September 9 and 10 in 2023 under its Presidency, said the Ministry of External Affairs press release.
As per the sources, the meetings will take place in less explored parts of the country at very exotic locations of India.
Prime Minister Narendra Modi's vision is to connect all districts and blocks with G-20 so that the message will reach to masses through Jan Bhagidari initiatives.
"Jan Bhagidari" refers to the participation of people in governance at the local level. The government of any country can stand on its feet only when the people of the nation consider themselves to be indispensable organs of it. Hence the involvement of people in governance at all levels is of utmost importance.
India will also light up 100 monuments on December 1st with the G-20 logo as the country officially takes the presidency of the grouping.
Many are hopeful that India can make meaningful contributions to the global economy and can help improve the current unstable geopolitical state of affairs during her reign as president.
India, despite mounting global pressure, has been able to maintain positive diplomatic ties with all countries and factions.
India will also face challenges on the economic front during its presidency.
The world is staring at a recession following the Covid-induced economic downturn and supply chain issues are further exacerbated by the Russia-Ukraine conflict, which has resulted in runaway inflation.
Global growth has hit a major roadblock. While the world grew at 6 per cent in 2021, the growth rate is projected to drop to 3.2 per cent in 2022 and will further slip to 2.7 per cent in 2023.
The global inflation rate, which stood at 4.7 per cent in 2021 is expected to rise to 8.8 per cent by the end of 2022.
India, however, is expected to grow by 6.8 per cent in the current fiscal year and by 6.4 per cent in the following year.
India is a model for others in achieving similar economic growth and stability.
The G-20 declaration, which predominantly echoed Indian ideas, vowed to push for global macroeconomic stability by giving nations, particularly disadvantaged ones, a platform to improve their financial resilience.
According to economic experts, India, an emerging economy, has a deep economic understanding of middle-income and low-income countries. India, with its unique perspective, can help the G-20 achieve its goal of enhancing the financial resilience of these nations.
India's economic model, which has advocated for open, liberal markets that provide opportunities to even the most vulnerable, has garnered praise from countries and organizations throughout the world.
This is also a historic time for the G-20, which will now be led by a nation that has always placed "dialogue and diplomacy" at the centre of its approach to international relations.
India's diplomatic and economic policies have helped the country achieve significant growth at a time when other economies have failed or are struggling.
Many predict that as India brings its tried and tested policies to the G-20 Presidency, the world will greatly benefit under the Brand India approach.