The G20 is a forum of top developed and developing nations in the world. Formed in 1999 with 19 countries, Spain remains a permanent invitee the G20 seeks to address the world’s economic and financial problems and to ensure that the financial crises that rocked South East Asian nations in the late 1990’s does not wreck economies again. The 2008 global financial crisis was managed better because of lessons learnt from the past. Fortunately, India’s economy was relatively homegrown and was not as exposed to the economic fluctuations that hit the other countries.
Since its formation the G20 has broadened its mandate to cover additional objectives such as trade, climate change, sustainable development, energy transition, the environment, anti-corruption, development infrastructure, disaster risk resilience, health, tourism, culture and agriculture.
G20 countries include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, and US. It now includes other nations and international organisations like the World Bank, United Nations, International Monetary Fund, World Trade Organisation, ASEAN among others. G20 nations generate over 80% of the global GDP, contribute 75% of global trade, and house 60% of the world’s population.
India’s G20 Presidentship started in December last year and since then over a hundred meetings have been held in different states. Meghalaya hosted the first G20 group on Space Economy Leaders Meeting (SELM) organised by the North East Space Application Centre (NESAC). Following that discourse the South Korean Ambassador held another meeting with a civil society organisation to explore possibilities for cooperation with Meghalaya. The Ambassador laid out a list of areas of cooperation among which was food processing and waste management. On June 1-2 recently another group from the European Union- the Global Gateway met again at Shillong to again explore areas of foreign investments in Meghalaya for infrastructure projects, energy transition, waste management etc. These meetings are important and the State Government ought to have created a special cell that will follow up diligently on the discussions and deliberations so that they do not remain in the realm of discussions only but are translated into action on the ground.
India will be handing over its G20 Presidentship to Brazil in November this year. But that does not mean that the business proposals, financial and intellectual support from think tanks would end. These discussions have to be concretised into action and result in better roads, railways and airways for Meghalaya. Educational exchange between our universities and those of the G20 countries should be firmed up for cross-learning. This is a great opportunity that cannot be lost sight of. The Government of Meghalaya would do well to firm up discussions held with the visiting dignitaries of the G20.