G20 Summit in India: World Leaders Convene in India for G20 Summit Amidst Ukraine Crisis
Leaders from around the world are gathering in India for the G20 summit, a meeting of nations that are deeply divided on various issues, with the ongoing war in Ukraine, following Russia’s invasion, being the most prominent.
On Friday evening, US President Joe Biden met with Indian Prime Minister Narendra Modi, and the two leaders pledged to cooperate on a range of matters. Notably, Chinese President Xi Jinping and Russian President Vladimir Putin will not be in attendance.
Despite these differences, India has been pushing for G20 members to agree on a joint declaration. If this summit concludes without one, it will be a first in the history of the G20.
The G20 consists of the world’s 19 largest economies plus the European Union, and the war in Ukraine has been a prominent issue at recent G20 meetings. Last year, the group managed to put together a declaration that acknowledged the differences among its members regarding the conflict.
However, since then, positions have become more entrenched, with Russia and China unlikely to agree to make concessions, and the West, led by the United States, insisting on a clear condemnation of the war.
The absence of Xi and Putin could complicate decision-making, as Russian Foreign Minister Sergey Lavrov and China’s Premier Li Qiang will represent their countries, but they may lack the political authority to make last-minute concessions.
G20 Summit in India:
World Leaders Convene in India for G20 Summit Amidst Ukraine Crisis India, nevertheless, hopes to ensure that the Ukraine issue does not overshadow the concerns of the Global South, consisting of developing countries, that it wants to address. India has positioned itself as the voice of the Global South within the G20, advocating for the responsibility of the group toward countries that are not G20 members.
India’s position has been bolstered by the presence of the African Union at the G20, further highlighting the needs of developing nations. Issues such as debt relief, rising food and energy prices, and the impact of the war and the pandemic are among the concerns India and other developing countries aim to address.
Debt refinancing
Debt refinancing, for instance, is a topic on which India and other developing countries have called on wealthy nations and institutions like the International Monetary Fund (IMF) to provide relief to nations struggling to repay loans. However, discussions on this issue are often intertwined with China’s role, as a significant portion of the debt is owed to China. This complicates negotiations.
India also seeks global regulation of cryptocurrencies and reforms in institutions like the World Bank and the IMF. Climate change is another area where India has called for more action, particularly in terms of financing for vulnerable countries affected by extreme weather events.
Food and energy security are additional topics on the agenda, but reaching an agreement on some issues, such as the Ukrainian grain deal, may be challenging.
In summary
The G20 summit in India is taking place amidst significant global divides, particularly regarding the war in Ukraine. India hopes to balance these differences while also addressing the concerns of developing countries. The absence of a joint declaration would be a setback, but India aims to issue a chair’s summary showcasing consensus on most issues. This summit is crucial for India’s global standing and Prime Minister Modi’s leadership image, especially with a general election looming next year. For more news visit thedailycourierng