New Delhi: The world's most influential leaders have descended upon New Delhi for the annual G20 Summit, set to kick off this Saturday. The Indian capital has undergone a remarkable transformation in preparation for this significant event, with vibrant decorative plants, green infrastructure, fountains, sculptures, newly installed streetlights, and illuminated logos of India's G20 presidency adorning the route from the international airport to the city's heart and around the primary meeting venues.

The sheer magnitude of this event has led to certain parts of the bustling metropolis, which boasts a population of 33 million, being temporarily closed off, with a staggering deployment of 130,000 security personnel to ensure the event's safety.

But what is the G20, why is this year's summit of such importance, and what should we anticipate from it?

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The G20: A Global Collective for Urgent Issues

The Group of Twenty, or G20, was formed in the late 1990s, initially as a response to the Asian financial crisis. Its primary objective was to address such crises collectively. Over time, it has evolved into a forum for tackling pressing global challenges, including food security, climate change, and, notably since the 2021 Russian invasion of Ukraine, the global ramifications of conflicts.

Collectively, G20 members account for a remarkable 85 percent of global economic output, 75 percent of international trade, and approximately 60 percent of the world's population. The G20 comprises 19 individual countries—Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK, and the US—along with representation from the European Union.

Each year, the G20 is led by a different member country, which hosts its policy meetings and culminating event—the leaders' summit. India assumed the G20 presidency from Indonesia last year and will pass the torch to Brazil.

This year's G20 Summit marks the 18th gathering of the group and India's inaugural experience as host. It represents the culmination of over 200 meetings involving G20 ministers, sherpas, and engagement groups, as well as a multitude of side events and workshops held across more than two dozen cities in India.

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India's Commitment to the G20 Presidency

Prime Minister Narendra Modi and his Cabinet have worked diligently to ensure that G20 meetings are visible, resonate across the nation, and garner widespread attention both domestically and internationally. This effort has been part of a broader campaign to establish India as a global powerhouse.

India has devoted more attention to the G20 than any previous host country, resulting in all major events receiving greater visibility and likely generating positive press for the nation. Aditya Ramanathan, a research analyst at the public policy center Takshashila Institution in Bangalore, acknowledges this heightened profile: "This obviously means that all the main events are more high profile and are likely to generate good press for India."

Challenges on the Global Stage

However, the success of the G20 Summit isn't solely dependent on India. The G20 faces new challenges due to significant shifts in global politics since 2020, primarily driven by three factors: the pandemic, the Russia-Ukraine war, and deteriorating relations between China and several nations.

China's relations have cooled not only with the United States but also with India, where tensions have intermittently flared along their Himalayan border for the past three years.

Following Russian President Vladimir Putin's decision to skip the G20 Summit in Indonesia last year amid tensions over the invasion of Ukraine, Chinese President Xi Jinping has also chosen to abstain this year. This marks the first time a Chinese leader has missed a G20 Summit since the inaugural meeting in 2008.

Manoj Kewalramani, a fellow in China studies at the Takshashila Institution, suggests that Xi Jinping's absence is not a rejection of the G20 itself but a reluctance to endorse India's leadership in the Global South. India and China, the two most populous nations globally, have been vying for the role of the principal voice for emerging economies in the Global South.

Under India's presidency, many meetings have centered on issues affecting the Global South, such as reforming international debt structures and addressing the impact of geopolitical uncertainties on food and energy access.

India has also pledged to prioritize addressing the climate crisis, including climate finance, the development of green technologies, and a just energy transition.

Agenda for the G20 Summit

The G20 Summit will address a range of critical issues impacting global market stability. Key topics on the agenda include green development, encompassing climate finance, accessible digital public infrastructure, and the expansion of renewable energy sources. Additionally, discussions will revolve around a global strategy to enhance sustainable agriculture and food security.

However, achieving consensus on these issues is not guaranteed. The ongoing war in Ukraine is expected to cast a significant shadow over the summit's joint statement. Leaders will need to address the causes of global food and energy insecurity and high inflation, issues that have not been unanimously agreed upon during ministerial meetings throughout the year.

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Western countries attribute the crisis to Russia's invasion of Ukraine, with some nations, including the US, France, and Canada, indicating their refusal to sign any joint declaration that does not condemn it.

If leaders fail to reach a consensus, it would mark the first time in the G20's history that a summit concludes without a joint communique. In such a scenario, India, as the host nation, will be responsible for producing a statement summarizing the agreed-upon points and divergences.

Sanjay Kapoor, analyst and chief editor of the political magazine Hard News, emphasizes the challenges facing this summit: "The G20 summit is taking place at a time when the world is impacted by the Ukraine war, and India represents the bridge between two extreme views... It's a difficult summit to hold at this juncture. Though it has possibilities, the challenge would be to build a consensus around the core issues. The ministerial meetings haven't yielded much in that direction."

In conclusion, the G20 Summit in New Delhi represents a pivotal moment on the global stage, with India seeking to establish itself as a leader in addressing critical global challenges. However, the divided nature of the G20, exacerbated by recent global events, poses significant hurdles to achieving consensus on key issues, making this year's summit one of unprecedented importance and uncertainty.