G20: Coming to Kashmir

Kashmir is all set to host G20 meeting in May, 2023, at summer capital Srinagar. Despite winter season, Administration is making advance arrangements being a “moment of pride”, by repairing major roads, and drainage system; by passing directions for beautification, plants for parks and wall painting.

Over 200 meetings will be held in more than 50 cities across 32 different work streams. It may be a historical day when G20 member country representatives visit together the heaven on earth.

In the year 1999 G20 was formed as a forum of finance ministers to discuss global economic & financial issues.

The forum was upgraded to the level of Heads of States for international cooperation in view of global economic crisis. The agenda was also expanded to include trade, climate change, sustainable development, health, agriculture, energy, environment and an important chapter which is corruption.

The G20 forum represents around 85% of global GDP, over 75% of trade being Saudi Arab, Germany, Canada & France as members and two thirds of population being India, China, Indonesia & US as its members.

The India’s special guest countries are Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE. The forum also represents an impressive Muslim status as per the following data and we can say “One World, One Garden, Only Kashmir” as UT theme:-

Four big Muslim populated countries Indonesia, India, Saudi Arabia & Turkey are in the list of G20. Four countries having Muslim population on second number also figures. The International Organizations invitees are United Nation, International Monetary Fund, World Bank, World Health Organization, World Trade Organization, ILO, FSB, OECD, ASEAN Chair, ISA etc.

As far as the current Presidency of G20 is concerned, rotated through Troika pattern i.e, Previous, Current & Incoming Presidency and the present troika is Indonesia, India and Brazil. In the current G20 meeting a great slogan has been introduced “Vasudhaiva Kutumbkam” or “one earth-one family-one future” under the leadership of Prime Minister of India.

The theme affirms the value of life with its associated & environmental sustainability both at individual, national and global level resulting in cleaner, greener and bluer future.

The Founder & Executive Chairman of World Economic Forum said “that India’s G20 Presidency comes at crucial time when PM’s leadership is critical in this fractured world”.

He pointed out the decisive action on climate case for renewable, its contribution to the global healthcare ecosystem, digital public infrastructure and other issues of international importance.

From Indian point of view G20 Presidency also mark the beginning of 25 years period from 75^th anniversary of its Independence towards a futuristic prosperous & inclusive developed society.

Besides, Sherpa Track “coordinated by Sherpas of member countries” there are engagement groups to bring together civil societies, parliamentarians, think tanks, women, youth, labourers, business class, researchers of G20 countries.

With Business20, Labour20, Parliment20, Science20, SAI20, Think20, Urban20, the Startup20 engagement group constituted first time under present G20 of India’s Presidency to recognize the role of startups in driving innovation in view of rapid changing global scenario. Also a new working group on Disaster Risk Reduction established to encourage collective work undertaking multi disciplinary research & exchange of best practices.

The other priorities of present G20 are Green Development, Climate Finance, Accelerated, Inclusive & Resilient Growth, Technological Transformation & Digital Public Infrastructure and Women led Development.

In order to achieve the desired goals through a set of prestigious meetings at different locations across the country number of initiatives were taken & directions passed by the government at national level.

Apart from other aspects GOI has sought input, suggestions & opinions from citizens in order to have people’s participation from grassroots level and engage people from all walks of life to prioritize every effort in action for better world.

India will highlight its cultural diversity, glorious historical background by exploring Incredible India, its heritage & achievements from the past 75 years of Independence.

Kashmir is known for its hospitality around the world because of tourism as a major source of income for many families and contribution in the economic growth.

Sidelining the past hardships due to uncertainty, the meeting is also important to boost the Kashmiri products and attract the global market more efficiently for durable sustainable growth trajectory. 

Recently the agriculture products, spices and other commodities imported from Kashmir by consignment to UAE with the help of an international marketing group, an example to influence the countries across globe.

Besides, above banking industry will be one of the important service sectors that will be introduced for international trade & finance in a well organized manner. The latest survey by RBI covers fourteen Indian banks having overseas branches and forty five foreign banks having branches in India recorded a marginal increase during 2021-22 though merge or closure of some branches.

DISCLAIMER: The views and opinions expressed in this article are the personal opinions of the author.

The facts, analysis, assumptions and perspective appearing in the article do not reflect the views of GK.