India is ready to take over the G20 presidency from Indonesia on the finish of the continued Bali summit. PM Modi has mentioned that India’s tenure might be grounded within the theme of ‘Vasudhaiva Kutumbakam’ or ‘One Earth, One Family, One Future’. New Delhi will assume cost at a time when the geopolitically polarised world is dealing with myriad challenges: the Russia-Ukraine conflict, the worldwide financial slowdown, the meals and vitality crises, and the looming spectre of local weather change. Can India act as a unifying drive to convey warring or disagreeing nations to the negotiating desk? Or, will Delhi need to stroll a tightrope all alongside to make sure that its ties with Russia and the US, particularly, are usually not impacted?

The G20 is an influential discussion board for international financial cooperation; it accounts for round 85 per cent of the worldwide GDP, greater than 75 per cent of the worldwide commerce and round two-thirds of the world’s inhabitants. India’s presidency will face a litmus check because the International Monetary Fund (IMF) has said that the worldwide financial development outlook is changing into ‘gloomier’. Citing three key elements for the weakening of the worldwide economic system — persistently excessive and broad-based inflation, the weak development momentum in China, and Russia’s invasion of Ukraine — the IMF, nonetheless, is hopeful that ‘with careful policy action and joint multilateral efforts, the world can move toward stronger and more inclusive growth.’ As the G20 chair, India could have an vital function to play in making international situations conducive for an financial resurgence.

Despite its deepening relationship with Moscow, New Delhi has been forthright in telling the outdated ally that the Ukraine conflict shouldn’t be allowed to tug on as a result of it threatens to destabilise the world order and international economic system. India has been assertive sufficient on the ongoing COP27, the place it has blocked an try and bracket it with the historic polluters — the US and different wealthy nations which have sown the seeds of local weather chaos. India stands to achieve in stature within the worldwide enviornment if it could actually take alongside each creating and developed nations to counter international headwinds throughout its G20 presidency.