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India will be president of the G20 in 2023. The world’s most influential economic governance body is facing an existential crisis, where the major powers have fallen out. With geopolitical currents redefining geo-economics, India needs to be ready to emerge as the chief global diplomat.
Sri Lanka is experiencing an economic, political and strategic crisis it has never had before. The situation is fragile – but a creative solution and determined national interest can help return the island nation to stability and growth. Amb. Rajiv Bhatia, in conversation with economist Dr Ganeshan Wignaraja on how Sri Lanka came to the current condition, and the remedies to adopt.
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Pakistan’s latest economic survey reveals the extent of the country’s indebtedness to China. High-interest Chinese loans, reckless multilateral borrowing, and ever-increasing defence budgets have deleteriously impacted Pakistan’s finances. Any lasting solution to these problems will have to involve China.
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ASEAN centrality is not what it used to be. Covid, post-pandemic economic recovery, the Ukraine crisis and the challenge of China all tested ASEAN capabilities to manage them. It is now up to ASEAN to work out its unity and centrality with a greater sense of responsibility.
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With mass digitisation, India has proved that technology is not just for the educated, privileged, and wealthy. The country's open and secure digital public platforms can be significant for the Indo-Pacific, the world's most data-rich region. The Indian model is applicable because it is open-source, interoperable, auditable, and enshrines individual rights, ownership, and empowerment.
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The recent 15th India-European Union (EU) summit held virtually in July 2020 reflects a bilateral that is gearing for a boost, with both sides trying to move closer in a variety of ways. A serious effort will be required to properly reconcile strategic, trade and investment interests.
Courtesy: Gateway House & CIGI
The shifting trends in trade, especially given the growth in communications capacity and reduced cost of computing have altered traditional economic development. India and Canada have a shared commercial interest in E-trade. Both countries need to align their resources to frame trade rules of the new digital economy, to mutual benefit.
Don Stephenson, former Chief Trade Negotiator, India-Canada Comprehensive Economic Partnership Agreement, discusses how India and Canada can work together on effecting reform in the World Trade Organization
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The 2019 G20 Summit in Osaka on June 28-29, is the 14th meeting of the Group of 20 leaders. The G20 is the world’s most influential economic multilateral forum. It is the agenda-setting forum that develops and guides rules of global economic governance. Under the Japanese Presidency, this summit will be the first to discuss and establish the rules for the worldwide governance of data, including current hot-button issues like data localisation and data sovereignty. India has both a preparatory and a contributory role to play in the G20 this year. For in 2022, it will be the President of the G20. India must identify its agenda early on; its a weighty responsibility but also an opportunity to set the global economic agenda.
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The following remarks were given by A. Gitesh Sarma, Secretary, Ministry of External Affairs, Government of India as the Keynote Speaker at the Think20 Mumbai 2019 roundtable discussion on January 28, 2019
