Speaking at the session on the Role of Global South in Emerging World 2.0 organised under the B 20 Summit India 2023 at New Delhi today, Dr S Jaishankar Hon’ble Minister of External Affairs, Government of India stated that “the volatility of the last few years has brought home to us the importance of strategic autonomy. We may talk about seeking a more just, equitable and participative global order but at the end of the day that will only happen when we see commensurate investment in trade and technology decisions.” The summit was organised by the B20 India Secretariat, the Confederation of Indian Industry (CII),

Dr Jaishankar reflected upon the evolution of global world order from being political initially to gaining economic connotations that were accelerated by globalization increasingly with the advent of factors like technology, energy resources, connectivity and human ingenuity. He laid emphasis on the current need to focus on developing countries for global, food, energy and fertiliser security, trade disruptions, high interest rates, and climate events due to COVID pandemic and Ukraine crisis. Dr Jaishankar noted that “increasing climate events have contributed additional factors of stress. The current focus on the global South emanates from the conviction that these are countries that are truly deserving of special care, he added that these are also societies under exceptional stress which if left unaddressed would become a serious issue in the world economy.”

It is worth noting that the challenges and priorities discussed with 125 countries during the Voice of the Global South Summit in January 2023 have been made central to the G 20 agenda. Countries during India’s G-20 Presidency have deliberated on the issues of debt and finance in sustainable development, climate action, food security, and women led development. Dr Jaishankar said that “the mandate of the G-20 is to promote economic growth and development and that cannot advance if the crucial concerns of the global South in the areas highlighted are not addressed.” He added that “the Emerging world 2.0 is one with more engines of growth, a fair distribution of the benefits of globalization, and greater resources devoted to attaining sustainable development goals and promoting climate action and climate justice.

Dr Jaishankar showed appreciation for the B 20 Engagement Group for rising to the occasion by prioritising inclusive growth, resilient supply chain, services trade, digital technologies, innovation, and sustainability in its agenda. He said that “the engagement group has established itself as a credible partner of governments who are working to the same ends.” He added that “the task forces and action councils have given a practical articulation to what the world must do.”

The session was also graced by Mr N Chandrasekaran, Chair, B20 India and Executive Chairman, Tata Sons, India, who delivered the welcome and concluding remarks.