Indian Prime Minister Narendra Modi laying the foundation stone of a manufacturing facility for C-295 medium transport plane for the Indian Air Force and said that the day is not far when big passenger aircraft will be manufactured in India (www.hindustantimes.com)
India today has the fastest-growing economy in the world and current Prime Minister Narendra Modi has been trying to make India’s national development not an exercise in top-down governance but a people’s movement led by citizens.
Economic analysts have predicted that India’s GDP will overtake Japan’s to become the world’s third-largest economy in the next 10 years. India, which maintains such a high economic growth rate, has the opportunity to play a prominent role in world politics by having the presidency of a powerful organization like the G20. India has already reached the fifth position in the world ranking on GDP indicators, displacing the powerful United Kingdom to the sixth slot.
Prime Minister Modi emphasizes that during the tenure of the G20 chairmanship, India hopes to present its experiences and learnings as models that can be used, especially by the developing world and other countries neighbouring counties including Sri Lanka.
As an emerging leader on the international economic platform, India has carved an indelible niche in the global sphere. The G20 has created an opportunity and allowed the world to see the projections of India as a true economic leader aspiring to create a global family.
Despite a global lockdown that had existed for several years, India managed to stay strong and afloat in the Asian region and throughout the world. This helped it achieve its newly acquired status.
On December 1, 2022, India officially took over the G20 organization’s chairmanship from Indonesia.
The premier forum for global economic cooperation, the G20, or Group of 20 countries, is an intergovernmental organization comprising 20 of the world’s major developed and developing economies with all the most powerful countries in the world belong to this group.
This group represents 75% of the global production of goods and services, two-thirds of the global population, and 60% of the world’s land area. Accordingly, the G20 countries can imagine the magnitude of the impact they can have on the entire world. Simply put, the G20 is second only to the United Nations.
Internationally, India is ready to carry the responsibility of the G20 presidency until November 30, 2023. International political analysts are of the opinion that India’s presidency of the G20 conference this year could be a watershed for developing countries.
Accordingly, international political analysts are of the opinion that a unique opportunity has been afforded to demonstrate India’s power to the world through the leadership of the G20 organization.
In 2023, Japan will hold the presidency of the G7 organization, which represents the world’s most powerful countries. India is already in the driving seat of the G20 organization. Accordingly, the world powers have already shifted their focus towards Asia.
Indian Prime Minister Modi, in a letter about India’s vision regarding the G20 chairmanship, has said that he expects a presidency that will bring healing, harmony, and hope to all the people of the world.
India’s G20 presidency will be “inclusive, ambitious, decisive, and action-oriented,” said Prime Minister Narendra Modi, who accepted the ceremonial gavel from Indonesian President Joko Widodo at a handover event during the conclusion of the G20 summit in Bali.
Modi, who also held separate meetings with the leaders of Australia, France, Germany, Italy, Singapore, and the U.K., thanked Widodo at the event and said that the world was looking to India’s leadership of the forum of the largest economies with “hope.”
“India is taking charge of the G20 at a time when the world is simultaneously grappling with geopolitical tensions, an economic slowdown, rising food and energy prices, and the long-term ill effects of the pandemic,” Modi said during the closing ceremony.
The next G20 summit is scheduled for September 2023 in New Delhi, with a few more emerging economies joining as guest countries. They are Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Singapore, Spain, and the United Arab Emirates.
It is a clear indication that India is trying to cooperate with and cultivate these countries to consolidate India’s soft power and diplomatic influence in the Indian Ocean region. This is to counterbalance Chinese influence in the region.
India is expecting to use the G20 summit as an opportunity to show its capabilities to the world. In fact, it provides a platform for India’s role in achieving remarkable achievements around the world.
Amidst all this, India’s population growth is expected to surpass China’s by 2023, making it the world’s most populous country at 1.4 billion.
Add new comment