INDIA'S ROLE IN G20 FORUM
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- INDIA'S ROLE IN THE G20 - HOW IT CAN CONTRIBUTE TO GLOBAL ECONOMIC GROWTH AND STABILITY
- India Joined G20 in 1999. And since then its participation has grown in importance over the years. India's economy has been growing at the rate of 6-7% making it one of the fastest growing economies in the world. India can contribute to global economic growth through its domestic policies. Indian Government has implemented economic reforms to attract foreign investment, improve infrastructure and promote entrepreneurship such as Make in India and Digital India.
- On December 1st 2022, Prime Minister Mr Narendra Modi held the presidency of G20 for one year. During its presidency, India will have the opportunity to shape the global agenda and promote its priorities. Our Prime Minister will focus on promoting sustainable growth, improving digital infrastructure and strengthen the global trading system.As one of the fastest growinmajor economy, India has a significant role to play in G20 Forum.
- India's growing renewable energy sector can also contribute to global economic growth and sustainability. India has launched several initiatives such as the International Solar Alliance which aims to mobilize $1 Trillion of investment in Solar Energy by 2030 and the National Clean Energy Fund, which finances clean energy projects.
- India is also a member of World Trade Organisation (WTO). India can use its experiences in the negotiations on trade issues and promote a rule based trading system. India can play a crucial role in promoting financial stability and reform in the global financial system. for example Introduction of Bankruptcy Code in India.
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