New Delhi, 02 December: When the world leaders are divided over the future of relations with China, India takes over the G20 presidency with a strong pitch for a fundamental mindset shift to benefit humanity as a whole and saying the country will work to further promote “oneness”.
India’s G20 agenda will be inclusive, ambitious, action-oriented, and decisive, the prime minister Modi said, as he urged G20 countries to work together to shape a new paradigm of “human-centric globalisation” and make India’s G20 Presidency a “Presidency of healing, harmony and hope”.
G20 was formed in the wake of the financial crisis that swept through Southeast Asian economies in the late 1990s as a forum for finance ministers and central bank governors, the G20 was upgraded in 2007 to include heads of state and governments. During and after the 2008 global financial crisis, the G20’s coordinated efforts helped tamp down panic and restore economic growth.
The current complex geopolitical and economic situation will make it a challenge for India and Modi to shape the international response to multiple crises.
Worldwide Unrest Upends Global Economic Outlook, Yet India Emerges as Alternative. Latest protests in the world’s biggest manufacturing nation (#China) add a new element of uncertainty atop the Ukraine war, an #energy crisis and #inflation. Concerns about the economic impact of the spreading unrest in #China, nonetheless, appeared to be partly responsible for a decline in world markets.
UK and European countries are also feeling the heat. #Britain’s cost of living crisis will wipe out eight years of growth in household incomes in just 24 months and plunge the economy into a recession lasting more than a year, the government’s independent forecaster said.
Similarly Germany’s situation is also quite similar to Britain, which has been affected by russia-ukraine conflict . The German Ambassador to India Philipp Ackermann also agreed and said dealing with Russia will be one of the most difficult issues during the G-20 presidency.
Asked about India’s G-20 Presidency, German Ambassador to India Philipp Ackermann termed the fight against climate change “one of the most urgent problems” on the political agenda and it reflected in the issues listed out by New Delhi for the year ahead. Ackermann said Germany and India have finalised 22 projects covering transition to renewable energy, climate resilient urban development and sustainable use of natural resources totalling one billion euros for the next year under the green and sustainable development partnership (GSDP).
Recently, in November , IndoGerman Chamber of commerce [IGCC] hosted a delegation of German businessmen to invest and explore the market in India. The delegation interacted with Indian business leaders and explored the investment and partnership possibilities in three Indian cities. In the German business delegation, there were seven companies – Andritz, barGmbH, CarboTech, Goetzke, Leistritz, Sick AG and WIKA. Beside that Dr. Stephan, Deputy of Economic and Global Affairs in India had discussion at length on the Indo – German economic relationship in the light of India’s G20 presidency. 
CLICK to Watch: Full Video Story:
However earlier, to this a rare event also occurred on November 4, when Germany’s Chancellor, Olaf Scholz, met with Chinese President Xi Jinping in Beijing.Scholz’s delegation included numerous German business senior executives, indicating the visit included significant discussions about Germany-China trade and investment opportunities.
Yet even if business and political leaders want to be less reliant on China, the brute reality is that’s not going to happen soon, if at all. But there is one alternative to look for. i.e; “India”. And Germany has understood it well.
After China visit, German Chancellor Olaf Scholz is now likely to visit India twice next year as the two countries look to strengthen bilateral relations with an emphasis on green and sustainable development.
“The Chancellor is planning a bilateral visit to India next year…. I am very confident he will come for a bilateral visit before the G-20 Summit, German Ambassador to India Philipp Ackermann told.
“Germany will do everything to support India when it comes to making this a common effort of the G-20 countries. We are pleased that India puts this climate change very high on the agenda,” Ackermann said at the end.
Germany is not alone in giving assurance for support to India during its presidency of G20. US President Joe Biden also on Friday said he is looking forward to “supporting his friend” Prime Minister Narendra Modi during India’s G20 presidency.
“Together we will advance sustainable and inclusive growth while tackling shared challenges like the climate, energy, and food crises,” he said, calling India a “strong partner” of the United States.
While India expect Russia as well to be part of all processes.
“Russia is a member of the G20 and hence we would expect them to be participating in these processes,” external affairs ministry spokesperson Arindam Bagchi told a weekly media briefing while responding to questions about the divisions within the G20 over Russia’s invasion of Ukraine.
-Dr. M Shahid Siddiqui; Follow via Twitter @shahidsiddiqui
Full Discussion on the Indo – German economic Relationship in the Light of India’s G20 Presidency.
