Highlights

  • India to host G20 summit on 9th and 10th September next year
  • Will chair more than 200 G20 meetings from December
  • Increasing status in the world, recently became the 5th largest economy

The image of India has changed completely in the last few years. It is constantly making strides towards progress. The whole world is looking at India like a ‘bright spot’. When there is a shadow of slowdown everywhere, India’s economy isn’t in shambles, unlike the rest. Recently, India has become the fifth largest economy in the world, overtaking Britain. Its status at the international level is continuously increasing. Now it is going to host the G20, a grouping of the world’s 20 most powerful countries. The meeting will be held on 9 and 10 September next year. However, India has also made up its mind to organize it in its own style. Apart from the member countries of G20, it will also invite friendly countries in it. These include Bangladesh, Egypt, Mauritius, Nigeria, Netherlands, Oman, Spain, Singapore and United Arab Emirates who will be attending as the guests. G20 countries account for 75% of the total international trade. The share of this group in the global GDP is 85 percent.

India will assume the responsibility of the President of the G20 for a period of one year from December 1, 2022 to November 30, 2023. It will host the annual summit of the G20 on 9 and 10 September next year. More than 200 meetings of the group will take place during this period. India will host all of these. The Ministry of External Affairs has also told about this. According to them, India will chair more than 200 G20 meetings across the country from December 2022 under its chairmanship. The G20 Leaders’ Summit at the level of Heads of State/Government will be held in New Delhi on 9 and 10 September 2023. The G20 or ‘Group of 20’ is a grouping of the world’s major developed and developing economies. This includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union (EU), which cumulatively control 85 percent of the global GDP.

G20 will hold meetings in its own style

It has been a tradition that the presiding country of the G20 invites some visiting countries and international organizations to the group’s meetings and summits, apart from the members. Under this, India will invite Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the United Arab Emirates as guest countries, apart from international organizations. That is, he will organize it in his own style.

Hosting the G-20 summit is a sign of India’s rising status in the world. It is grabbing everyone’s attention and making its presence felt in the global arena. Recently, it has made a place in the world’s five largest economy, leaving Britain behind. Now it is only behind the US, China, Japan and Germany. According to the State Bank of India report, it will become the third largest economy in the world by 2029. It is projected to overtake Germany by 2027 and Japan by 2029.

Today, the shadow of recession is looming over all the countries of the world. America and China are gasping. The same is the case with other major economies. While India is riding on the path of rapid economic growth. It has registered a growth of 13.5 per cent in the first quarter of the current financial year. The eyes of the whole world are fixed on it. The world is hoping that if someone can save it from going into the den of recession, it is only India. It is starting to have the power to become the engine of growth of the world. This is the reason why the whole world is paying attention to it today.

Taking decisions with due diligence

India is taking its decisions with utmost sincerity. In this it is not coming under any pressure. Even in the Russo-Ukraine war, it was seen that India is not going to come under any pressure. It will see his own well-being and interests first. Despite objections from Europe and America, it has started importing cheap oil from Russia. When the whole world was confused whether to stand with the camp of America and Europe on Ukraine issue or with Russia, India took a two-pronged decision. It didn’t join any group. During this it kept the stance neutral. India neither spoiled its relations with Russia nor with America and Europe.

Today the whole world understands the importance of India. They know that India does what it says. Prime Minister Narendra Modi has set an ambitious target of making India a developed country by 2047. With the kind of attitude of India, nothing seems impossible today. The world is beginning to realize that India is a country where its investments are safe. This is because of the clarity and transparency in the policies. This is the reason why they feel free to explore business opportunities in India.

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