'Vasudhaiva Kutumbakkam' echoed throughout the world as the Indian Prime Minister Narendra Modi announced the theme of the 2023 G20 summit. India, projected as the world’s fastest growing economy today, assumed the G20 Presidency on the 1st of December after the two-day summit in Bali, Indonesia. India's leadership on the global front, after the immense support and kindness that she showed the world while it was crippled by the pandemic, is too immense for the world to forget.
G20 is one of the most influential groups of nations that have gathered yearly since 1999. The severe economic crisis of the 1990s led to the formation of the G20. Their goal is to improve international trade and economic concord. Initially, it served as a venue for meetings between central bank governors and finance ministers. However, it was promoted to the status of a summit between the world's leaders in 2008 and given the title of "primary forum for international economic cooperation". The G20 is led by a rotating presidency, known as the troika, rather than a permanent one. The troika has a rotating three-member leadership, so while the current country is in-charge, the prior and future chairs are there to help them. For instance, the prior chair Indonesia (2022) and the upcoming chair Brazil (2024) support the leadership of the current chair India (2023). There are two tracks in the G20: the Finance Track, which focuses on economic and financial issues, and the Sherpa Track, which involves conferences and discussions to tackle non-economic issues on a variety of themes. In the coming year, the meetings and conferences will be held throughout India under the direction of former Foreign Secretary Harsh V. Shringla, who has been named India's Chief G20 Coordinator.
The Indian approach to the G20 presidency is to live in harmony. It also marks the start of ‘Amritkaal’ for India, a 25-year period beginning with the 75th year of independence and ending with the centennial of independence. This year's G20 logo is inspired by the colours of the Indian flag: saffron, white, blue, and green. It depicts the Earth blooming from within a lotus, India's national flower, symbolising growth in the face of adversity and the harmony between humans and nature. The word ‘Bharat’ is written in Devanagari script beneath the logo. This year's theme ‘Vasudhaiva Kutumbakkam’, from the Maha Upanishad, means the world is one family and affirms the value of life, which is at the heart of Sanatana Dharma. Bharat believes that everything is One, and that all organisms are interconnected both within themselves and with the Universe. As Prime Minister Modi put it succinctly, 'One Earth. One Family. One Future'.
The Indian approach to the G20 presidency is to live in harmony. It also marks the start of ‘Amritkaal’ for India, a 25-year period beginning with the 75th year of independence and ending with the centennial of independence. This year's G20 logo is inspired by the colours of the Indian flag: saffron, white, blue, and green. It depicts the Earth blooming from within a lotus, India's national flower, symbolising growth in the face of adversity and the harmony between humans and nature. The word ‘Bharat’ is written in Devanagari script beneath the logo. This year's theme ‘Vasudhaiva Kutumbakkam’, from the Maha Upanishad, means the world is one family and affirms the value of life, which is at the heart of Sanatana Dharma. Bharat believes that everything is One, and that all organisms are interconnected both within themselves and with the Universe. As Prime Minister Modi put it succinctly, 'One Earth. One Family. One Future'.
India plays a significant role in G20 and global cooperation, in general. India, while maintaining close relationships with the developed major economies of the world, is also in a condition to understand and express the problems of the developing countries; hence, forming the perfect link between the two. The Prime Minister has announced that he hopes to build a world, with no first world or third world distinctions, but one world.
But the G20 presidency is not going to be an easy one. Undoubtedly, the world is still recovering from the economic trauma of a post-pandemic world. Steering through the challenges of the Covid-stricken economy is not going to be easy. Then, there is the issue of climate change, of which India has shown significant interest. Coupled with this are the Russia-Ukraine conflict and other geopolitical crises which create a sense of a looming war. Nevertheless, the G20 opportunity is crucial for India as it is time for her to take her rightful position as Vishwa Guru.
