In view of the term ‘permacrisis’ gaining media prominence, discuss how India can use its G-20 presidency for addressing the concerns of the Global South?
The word ‘permacrisis’ refers to an extended period of instability and insecurity. The term is gaining media prominence due to the ongoing crisis in Europe because of the Russia-Ukraine war, having negative consequences for the world.
Need to raise the voice for global south:
- Recently the external affairs Minister has called India the ‘voice of global South’.
- Rise of protectionist policies across the globe and unwillingness of the west to reform multilateral financial and trade organizations like IMF, World Bank and WTO.
- Unwillingness of P5 nations to reform the UN governance.
- Double standards of the west.
- Powers struggle among Russia and the West, impacting the developing nations most.
G-20 presidency and opportunities for India:
- India is presiding over the next G20 summit and it offers opportunities for India to raise its voice for the global South.
- The energy and food insecurity caused due to Covid pandemic, climate change and the Russia-Ukraine war has made the global economy unstable.
- The inflation and recession in the western countries is affecting the economies of developing countries.
- The geopolitical tensions have rendered G20 dysfunctional.
- In such complex scenarios, if India is able to raise its voice for the global South, then India can emerge as its leader.
India should seize this opportunity and win the trust of countries of the global South to become its voice.