Emerging market economies - from China to Argentina and Russia to South Africa - called upon the G20 to focus on accelerating Sustainable Development Goals (SDG) and addressing issues related to food and energy security, with some of them complimenting India for the role played in evolving a consensus in Bali. At a meeting of the emerging markets group on sidelines of the G20 meeting, Indonesia, which was the host, complimented India for helping evolve a consensus at the recent leaders’ summit in Bali. Russia praised the emerging market group for working together, sources familiar with the deliberations said.
In order to highlight its accomplishments and offer solutions around digital payments and e-services to position them as digital public goods, India is attempting to bring climate finance, disaster risk reduction and startups to the fore of the G20 agenda as India begins its presidency of the group of the world's richest countries.
Given the geo-political tensions at a time when the global economy is just recovering from the Covid-19 pandemic, India will also try to get countries that account for nearly 85% of global GDP to address issues around spill over effects of rate hikes in advanced economies on the emerging markets. Besides, the finance ministry is keen to get the G20 members to work on creating a set of rules to deal with crypto currency.
Foreign minister S Jaishankar said India would like to use its G20 presidency to reflect the interests and concerns of the global south because as these have been sidelined.
Speaking at the annual summit on the "Geopolitics of Technology," which is co-hosted by the external affairs ministry and Carnegie India, Jaishankar said that India's rise is inextricably linked to the development of Indian technology and that the nation cannot remain indifferent to changes in a field that has taken on significant political overtones.
