In the perspective of External Affairs Minister Mr. S. Jaishankar, the primary objective of the G20 revolves around advancing economic growth and development. He emphasized that addressing critical issues faced by the Global South is essential for achieving this goal.
Mr. Jaishankar, while addressing the B20 Summit organized by the Confederation of Indian Industry (CII) prior to the G20 Summit scheduled for September 9–10, highlighted various factors that have led to the Global South becoming more of a consumer than a producer. These factors include scale, subsidy, technology, human resources, and strategic choices.
He pointed out the prevailing dominance of the Global North in the international system and its reflection in the composition of the G20. He noted that although this aspect may have been less significant during the earlier stages of globalization, the inequities and unevenness that have emerged, coupled with the devastating impact of the Covid pandemic, have amplified the need to focus on developing countries. These nations often played a role in supplying raw materials for production elsewhere, without reaping the full benefits of economic progress and sometimes facing unsustainable debt burdens.
Mr. Jaishankar further underscored the global challenges, such as the repercussions of the Ukraine conflict on food, energy, and fertilizer security, which have compounded the challenges faced by the Global South.
He emphasized that India’s current landscape showcases a realm of experimentation, scaling up, deployment, innovation, and breakthroughs. He emphasized that these advancements are significant not only because they contribute to resolving a substantial portion of global issues but also because they offer replicable models for other countries within the Global South.
He also highlighted India’s active role as a first responder in disaster, emergency, and conflict scenarios, extending from Fiji and Myanmar to Mozambique, Yemen, and Türkiye.
The B20 Summit India serves as a platform for global political leaders, business figures, and experts to engage in discussions centered on the B20 India Communique, fostering collaborative deliberations on key issues.
