A G20 presidency to amplify South Asia’s voice

• At a time of both potential and peril, India has taken over the G20 presidency.
• The global food, energy, and financial crises have been exacerbated by the climatic crisis and India has a unique opportunity to lead from the front of one of the most influential global platforms.

India’s priorities

• India has identified several priorities including:
  • Green development
  • Climate finance
  • LiFE (lifestyle for environment)
  • Accelerated, inclusive and resilient growth
  • Accelerating progress on Sustainable Development Goals (SDGs)
  • Technological transformation and digital public infrastructure
  • Multilateral reforms
  • Women-led development.
  • Given that the priorities are global, the motto “Vasudhaiva Kutumbakam”, or “One Earth, One Family, One Future”, underscores how interconnected our world is.

Problems that need group action

• Majority of South Asian countries are facing problems that are global in nature, transcend national borders, and necessitate group effort.
• The economic forecast for South Asia is bleak for the coming year.
• India needs to promote collective action at the G20 that results in economic stability and peace in the region.
• Providing a common regional voice is not an easy when economies in the region are under considerable stress and there are emerging geopolitical polarisations on the horizon.
• Rising debt burdens of South Asian economies require urgent attention.
• India has an opportunity to effectively voice the socio-economic aspirations of South Asia.

Some of the key challenges facing South Asia

Energy, health and finance

• The majority of South Asian nations produce their energy from fossil fuels; 63% of the region’s emissions of greenhouse gases come from energy generation.
• Since dollars are short in supply, it has become challenging for countries to keep up with energy production.
• Liquefied natural gas (LNG) used to generate 70% of the energy needs of Bangladesh, while coal used to generate roughly 70% of the electricity needed in India.

Green energy transition

• Improving health infrastructure is quite important for South Asia and the G20 agenda.
• The discussion of global cooperation needs to go beyond technology transfers and financial aid to cover losses and damages brought on by climate change.
• For South Asia, it is important that multilateral organisations and development finance institutes supporting economic development and good governance are reformed as these countries are major stakeholders for these global institutes.
• India needs to prioritise all these issues not only to make the G20 an effective platform but also to be the voice of billions in the region and beyond.

Way forward

• Many non-G20 nations look upon India to represent their interests at the G20.
• Since wealthy economies have disproportionate power, global governance is historically tilted in their favour.
• Often it ends up having a negative impact on the ability to provide realistic solutions to constituents such as South Asia to address issues such as development, trade, climate action, energy transition and digital transformation.

Conclusion

• India should use its G20 chair to reform international governance procedures and ensure fair negotiations.
• As sceptics keep debating the G20’s value and significance, the South Asian giant has an opportunity to initiate deliberations, discussions, and debates, in turn resulting in policies that provide pragmatic solutions to pressing concerns affecting its immediate neighbourhood and beyond.