"INDIA'S LEADERSHIP IN THE G20: PRIORITIES AND CHALLENGES OF 2023 PRESIDENCY"

Abstract

The G20 presidency holds immense significance for India as it provides a unique opportunity to shape global economic and political agendas. The G20, a premier forum for international economic cooperation, represents a dominant force with its members collectively accounting for 85% of global GDP, 75% of international trade, and encompassing two-thirds of the world's population. With the support of the TROIKA, comprising Indonesia, India, and Brazil as the previous, current, and upcoming presidencies respectively, all of which are developing countries, India's G20 presidency presents a unique opportunity to emerge as a representative for the Global South. In 2023, India’s G20 presidency, marking a pivotal moment in its emergence as a global leader. An exceptional chance of India's leadership in this global institution opens doors for accelerating sustainable growth not only within India but also across the emerging world and beyond. The research aims to critically analyse India's G20 presidency in 2023, examining its priorities, initiatives, and challenges. The paper begins by providing an overview of the G20 and its role in international cooperation. It then delves into India's key objectives and themes during its presidency, such as inclusive growth, sustainable development, digitalization, and climate change. The India's domestic context, including its economic reforms, political dynamics, and regional influence plays an important role in shaping its G20 presidency. The opportunities presented by the G20 also bring forth a multitude of complex challenges that demand thoughtful and concerted efforts to overcome, including geopolitical tensions, differing national interests, and the complexities of multilateral negotiations. The paper assesses India's efforts in advancing these priorities through policy initiatives, negotiations, and diplomatic engagements. It concludes the implications of India's G20 presidency in 2023 for global governance, its impact on India's standing in the international community, and its potential long-term outcomes for global economic cooperation.