Will Kerala backwaters see consensus at G20?

KUMRAKOM: As sherpas from G20 countries converge in Kumarakom for their second meeting, a key challenge before India is to get the key envoys from the world’s 20 largest economies to bury their differences over the war in Ukraine and focus on the challenges confronting the global economy and the financial system.
New Delhi is leaving no stone unturned towards making the Kerala backwaters the backdrop for evolving consensus on ensuring that the global economy remains on track and differences between the developed and developing countries on wider political issues do not dominate the proceedings.

From India’s point of view, two high profile meetings of the forum – involving the finance ministers and central bank governors and the foreign ministers – have ended without the participants agreeing on a joint statement, only because of the wide gulf over Ukraine with the G7 nations on the one side and Russia and China on the other.
On several other issues, ranging from giving a fresh lease of life to multilateral agencies such as the World Bank to loan restructuring for stressed countries such as Sri Lanka, there have been signs of progress.
While the Indian government is drawing comfort from Russia being present during the discussions, unlike Bali last year when its foreign minister Sergey Lavarov flew out, the task before India’s Sherpa Amitabh Kant is fairly straight – get all sides to engage on addressing some of the most pressing issues before global leaders. And, top of the list is the global economy, which is stuttering in the wake of unusually high inflation in developed nations with the banking crisis in the US and Europe adding to the challenge.
In addition, India will seek to push what it believes are key issues such as digital public infrastructure and moving towards a green economy, especially ensuring that the developing countries are able to get finance to combat the impact of climate change, something that the wealthy nations have failed to deliver on.
That could well be the theme during the meeting of the ‘Troika’, comprising India, Indonesia, Brazil and South Africa (special invitee), as well as the deliberations of the emerging markets group.
With over 40 of the 200-odd meetings, scheduled during India’s presidency, completed, the discussions are also seen to be more structured and will form the basis for the initial work on the communique for the leaders’ summit in Delhi in September.