India takes over the G-20 presidency. How important is it for India? Know the importance of the move here.

PM Narendra Modi formally took over the presidency of the group and pledged to convert it into a “catalyst for global change”. This would be done at a “time when the world is simultaneously grappling with geopolitical tensions, economic slowdown, rising food and energy prices and the long-term ill-effects of the pandemic.”

The country’s official presidency of the G20 will commence in December. India will conduct the next annual meeting of the group in the month of September in 2023.

How is the presidency so important?

The G20 presidency is a super important affair for India. Prime Minister of India, Narendra Modi, recently called for a “shift in fundamental mindset to benefit humanity as a whole.”

• As per PM Modi, the presidency is going to be “inclusive, ambitious, decisive, and action-oriented”. Prime Minister Narendra Modi stated that it will motivate an authentic conversation on mitigating risks that are brought about by mass destruction weapons and fostering global security.

• The country began its G20 presidency. It aims to focus on counter-terrorism and “unity” in dealing with global challenges, like economic slowdown and climate crisis.

• The government seeks to create a robust consensus on debt sustainability and building disaster and climate-resilient infrastructure. The country’s G20 plans also encompass strong attention to startups. It also seeks to bridge the digital divide.