G20, the Summit and presidency comes to India

After the successful completion of 17th G20 summit at Bali, Indonesia 2022, India is ready to took over the presidency of G20 2023 at Delhi. India came up with the theme of "Vasudhavia Kutumbakam" from the vedantic doctrine. The topic which we will at light are 3C which are COVID, Conflict and Climate. Before understanding this we have to look for the earlier talk point, and how close are we to reach that benchmark.

In 2022 Summit at Bali, all the leaders signed the Resolution No. ES-11/1. We took a closer look for the consequence and upshot of the post-covid effects and Russian-Ukraine war.?We looked how the growth is being constrained with these factors, Russian exports being forbid from numerous countries. The purchasing power of profuse countries are still not back to normal due to COVID, which is affecting the GDP of these countries. The increasing inflation which is seeming to be impossible to control. Inflation being an immense muddle, the policies look botched.?Argentina, being a part of G20, is now dealing from this snag from a decade. The peso was equal to dollar in 2001 is now 235 for a dollar. Simpler mechanism like shrinkflation, are now on the minds of consumer, and they look how they are being be fooled by the companies by shrinking the size of commodities to control the inflation, yet these policies have sour taste for Government.?Looking on the safer sides, we can imply these policies as our population is a little difficult to control. Britain also cross the mark of 10% inflation this year, but yet they look quite confident to put it under the mark again.

We are at a stage where we are also looking at disruption in supply chains, how the ribs of every nation looks like undergoing from a liver punch. The exports are still not on the levels, it supposed to be. Post-COVID stats of exports showed that every nation still lacks labor.

Lastly, we are looking at the issues for which G20 was actually made, Food insecurity, heightening energy and elevating financial stability risks. We are not even close to reach the levels for SDGs, and the G20 seeks for private investments. In yesterdays meeting of UN showed the same concern of not meeting the marks for SDGs and food security, and they look interested for private investment for the SDGs as well. The look at the war going on in Ukraine and south Sudan. Coming back to G20, we have always raised our concern for terror and multilateralism, and it feels like the concern for terror will a big concern this year.

Learning all this, I have come up with an idea, which I am delighted to share with you all. This can also be used as a dupe for the topic we are going to cover in 2023 Summit.?The theme is "Bhayemevasti Shatru" from Mahabharta which means 'Fear is the only Enemy' with 3Fs to grapple against 3Cs, which are Fiscal, Food and Fidelity.?I am still working on fidelity which is my fluke jab for terror. Here fidelity means the support of nations not only terrorism, but also for war and natural disasters. I am glad that I'll be sharing the complete report by next weekend in which I'll be comparing my armaments with all the G20 Summit Resolutions from 2008. This will be helpful for us to know how actually Macroeconomics works for an economy, and how economists come to a conclusion for the muddles.

Kind regards,

Siddhant Bisht