The G-20 and Global Rise of Indian State

Abstract

The G-20 (Group of Twenty) is the first global forum that can be considered a great step for global economic cooperation in the 21st century. It is associated with the current transformation of the world order as well as the requirement to find global solutions to this century’s problems which are progressively acquiring global dimensions. With this background, the emergence of the G-20 has been perceived as an affirmation of the increasingly multi-polar order and a sign of the end of the West’s domination of the world economy and politics. On the other hand, it has been viewed as a response to the increasing interdependence created by globalization in which north-south distance is to some extent mitigated. The result is that a country like India is becoming a leading actor in the world along with an emerging system. India is holding the G-20 Presidency for one year from December 2022 to 30 November 2023. It is also about to host the world community on 9-10 September 2023 on the occasion of the eighteenth G-20 Summit. This Presidency is an important opportunity for India to demonstrate its leadership and strive to strengthen multilateral cooperation at a time when the world is grappling with the debt crisis, looming recession, the slow spanning of the Sustainable Development Goals agenda, and great power competition, accelerating and facing challenges such as the conflict in Europe. This article traces the evolution of G-20 in light of India’s forthcoming Presidency and projects G-20 as a global governance grouping that successfully seeks to bridge the North-South divide.