DNA Explainer: Know meaning behind India’s G20 Presidency 2023, here’s what to expect

In yet another feat for the Prime Minister Narendra Modi-led government in the country, India is all set to commence its year-long presidency of the Group of 20 (G20) this week, taking over from Indonesia at a time of geopolitical tumult and uncertainty over post-pandemic economic recovery.

Just as India has prepared to take over the G20 Presidency for the upcoming year, many international leaders such as US President Joe Biden and Russian President Vladimir Putin have stood up in support of the country, expressing their faith in PM Modi.

The Group of 20 countries (G20) was formed in the wake of the financial crisis that swept through Southeast Asian economies in the late 1990s as a forum for finance ministers and central bank governors, and was upgraded in 2007 to include heads of states and governors.

During and after the 2008 global financial crisis, the G20's coordinated efforts helped tamp down panic and restore economic growth. The grouping comprises 19 countries cutting across continents and the European Union, representing around 85% of the world's GDP.

What does G20 Presidency mean?

The G20 does not have a permanent secretariat, and one member takes over the presidency each year to steer the grouping's agenda that is split into two tracks - one led by finance ministers and another by emissaries of leaders of member countries.

After India, Brazil will take over the presidency of the G20, followed by South Africa in 2025.

During its term, India will hold more than 200 meetings across some 50 cities involving ministers, officials and civil society, leading up to a marquee summit in the capital New Delhi in September 2023.

What is India’s agenda through G20 Presidency 2023?

Indian Prime Minister Narendra Modi has called for international cooperation to deal with global issues, outlining the country's approach to the G20.

He said in a statement the challenges of "climate change, terrorism, and pandemics can be solved not by fighting each other, but only by acting together".

Modi also underlined a need to "depoliticise the global supply of food, fertilizers and medical products, so that geo-political tensions do not lead to humanitarian crises".

His statement reflects New Delhi's stance that the conflict in Ukraine, triggered by a Russian invasion in February, must be resolved through dialogue and diplomacy.

Asked about Russia's involvement in G20 during India's presidency, a spokesperson for the Indian foreign ministry said that as Russia was a G20 member, "we would expect them to be participating in this process ... the grouping needs to speak with one voice, particularly on important issues that are affecting the world".

(With inputs from Reuters)

READ | PM Modi interacts with Biden, Sunak, Macron on sidelines of G20 summit