G20 may expand India’s Solutions for Global Good

G20 may expand India’s Solutions for Global Good

Ankit Raj | November 14, 2022 | The Swaniti Blog

India to assume Presidency for G-20

Established in 1999, G-20 constitutes over 80 percent of the global GDP, two-thirds of the world’s population, and almost 50 percent of the land area in the world. This group enjoys the power to decide the direction of global development and governance. India is taking the presidency of this group this year. The country is gearing up to host hundreds of events in almost 50 cities, and there is an air of enthusiasm in policy, development, and business fraternities.

The world approaches turbulent waters

 It is true that this presidency is coming to India at a unique time in the history of mankind. We just passed through the COVID catastrophe and are now witnessing the most fragile global situation after WW II. The EU is struggling to sail through, leading global corporations across the world are getting leaner and the USA is struggling to maintain its hegemony as the superpower after an alliance between China and Russia. Amidst the crisis, India has managed to deliver billions of vaccines to hundreds of nations across the world under its initiative “Vaccine Maitri”, it ensures digital transactions worth 16 trillion INR, offers its unique payment interface (UPI) technology to the world, sustains positive growth and becomes the fastest growing amongst big economies of the world and home to 7 of the world’s richest individuals. India has rolled out some fundamental systemic solutions to increase the dignity of human life and tap the latent potential of the demographic dividend. Millions of homeless families are being provided with brick homes under Pradhan Mantri Awas Yojana (PMAY), small and landless farmers are being made more secure with the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN scheme), the Gati Shakti mission is all set to revamp India’s infrastructure, and the Ude Desh Ka Aam Naagrik (UDAN) scheme has already revolutionized the connectivity in the country. 

India’s growth story 

The genesis of 100 unicorns in India tells the story of entrepreneurship itself. To mitigate the challenges of being an export-led economy, India has adopted the New Logistics Policy and is getting into action to get the global market filled with high-quality goods. The component that sets aside India’s development path is how we have focussed on inclusivity by putting forth rural districts to manufacture and export goods through the One District One Product (ODOP) scheme. The success of ISRO is evident through its contribution to launching satellites of different countries including the developed ones. It is, indeed, a stunning story even for the most disruptive space entrepreneur of our times, Elon Musk. India’s export of indigenously developed defense tools is just the tip of the iceberg of defense manufacturing plans. One republic having a 2 plus 2 strategic partnership with both the USA and Russia at this moment on this planet is the Indian republic. That’s the reason why both President Biden and President Putin keep talking about India on global platforms.

India as the leader of systemic solutions

The reform and development story of India makes it a bright spot right now. All these examples are systemic and cultural reforms that have been piloted on a massive scale in a highly heterogeneous society. China enjoyed this glory in the later part of the 20th century. But one thing that differentiates between both countries is India’s open, established, and celebrated democracy. The unique proposition at this moment is India’s capability to deliver solutions to such a vast population and the world at scale, in a cost-effective manner, and without taking a way around democratic values. 

At this point in time when the flag bearers of the global economy are going to engage with India in India, the country must offer systemic solutions to the world. These solutions must be viable, replicable, and scalable across geography. Both the British and the USA influenced the world till they had an edge over systemic solutions. As India rises, it should contribute to addressing systemic issues with tested solutions for global good. After all, leaders are synonymous with solution providers.