The G20 Summit of 2023, held under the presidency of India, brought together world leaders to address critical global issues and foster cooperation among member states. Finance Minister Nirmala Sitharaman emphasised that India's presidency sought to create comprehensive strategies that benefit all developing nations. Here are the key achievements and initiatives that marked India's G20 presidency and its impact on global governance.

Strengthening Multilateralism and Countering Terrorism

One of the significant accomplishments of India's G20 presidency was the delivery of the G20 Foreign Ministers Outcome Document and Chair Summary. This comprehensive document addressed critical themes such as the strengthening of multilateralism, countering terrorism, and global health concerns. India's proactive role in formulating this document underscored its commitment to fostering international cooperation and addressing pressing global challenges.

Voice of the Global South Summit

India played host to the inaugural 'Voice of the Global South Summit,' a landmark event that saw participation from 125 countries. This summit provided a platform for developing nations to voice their concerns, ideas, challenges, and priorities. This initiative showcased India's dedication to amplifying the voices of the Global South and promoting equitable global governance.

Promoting Agricultural Research and Sustainability

During India's G20 presidency, the Meeting of Agricultural Chief Scientists (MACS) led to the launch of the ‘MAHARISHI’ millets and other ancient grains initiative. This initiative aims to connect researchers and institutions, encourage information sharing, and organise capacity-building activities across G20 countries. It underscores India's commitment to sustainable agriculture and food security.

Proposals were made to increase financing to combat climate change.

Empowering Women in the Private Sector

India initiated the G20 EMPOWER group during its presidency. This alliance of G20 business leaders and governments, known as the G20 Alliance for the Empowerment and Progression of Women's Economic Representation (EMPOWER), focuses on accelerating women's leadership and empowerment in the private sector. India's leadership in this initiative highlights its commitment to gender equality and economic empowerment.

Startup Ecosystem

A network to encourage and support startups was formulated. Special emphasis was given to startups attempting to achieve the UN SDGs.

Digital Economy and Cybersecurity

The G20 Digital Economy Ministers' Meeting held during India's presidency resulted in several important agreements. A consensus was reached on the creation of Digital Public Infrastructures (DPIs), which are essential for advancing the digital economy. Additionally, member states agreed on the importance of 'Cyber Security in the Digital Economy' and the need for enhancing digital skills. India's efforts in this domain underscore its commitment to the digital transformation of economies while addressing cybersecurity concerns.

Promoting Science and Technology

India's G20 presidency also saw the inception of the Meeting of G20-Chief Science Advisers Roundtable (G20-CSAR). This forum deliberated on critical issues such as 'One Health' for disease control and pandemic preparedness, expanding access to scholarly scientific knowledge, diversity, equity, inclusion, and accessibility in science and technology (S&T), and establishing an institutional mechanism for inclusive global S&T policy dialogue. India's leadership in promoting scientific cooperation and inclusivity reflects its commitment to advancing global knowledge and innovation.

Reforming Multilateral Institutions

India actively revitalised discussions around the reform of international institutions, including the UN Security Council and Multilateral Development Banks (MDBs). An Independent Expert Group was established during India's presidency to provide recommendations for enhancing the efficiency of MDBs in addressing 21st-century challenges. India's efforts towards institutional reform emphasise its commitment to a more equitable and effective global governance structure.

India's presidency of the G20 Summit in 2023 was marked by significant achievements and initiatives that addressed a wide range of global challenges. From strengthening multilateralism and promoting gender equality to advancing digital transformation and agricultural sustainability, India played a pivotal role in shaping the global agenda. By fostering cooperation among member states and amplifying the voices of the Global South, India demonstrated its commitment to inclusive and effective global governance. As we reflect on the accomplishments of India's G20 presidency, it is clear that the world is taking meaningful steps towards a more equitable and prosperous future.

(Mr. Nadir Godrej is the CMD of Godrej Industries)

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