In an exclusive interview with MoneyControl, Prime Minister Narendra Modi sheds light on India’s vision for its G20 Presidency, emphasizing the country’s commitment to inclusive growth, technological innovation, and responsible global leadership. With a focus on startups, electric vehicles (EVs), and sustainable business practices, this interview delves into India’s role in shaping the global future.
1. Embracing the G20 Presidency: A Family of Nations
When asked about India’s vision for its G20 Presidency, Prime Minister Modi emphasizes the motto, “Vasudhaiva Kutumbakam – One Earth One Family One Future,” highlighting India’s commitment to the unity of all nations. He explains that India views the world as a single family, and just as in a family, the future of each member is interconnected. India believes in global cooperation to face collective challenges and promote human-centric growth.
2. Democratizing the G20: Taking the Meetings Across India
Prime Minister Modi shares his motivation for hosting G20 events across various cities in India. He reflects on his extensive travels across the country before his political career, where he witnessed the ‘can do’ spirit of the people in every region. This inspired him to break away from the conventional approach of hosting meetings in the national capital and showcase the diverse capabilities of different states. India’s commitment to cooperative federalism and bipartisanship is evident in this approach, ensuring that every region benefits from the G20 Presidency.
3. Reimagining Multilateralism for a Just World Order
The interview touches on the evolution of the G20 since its establishment and the need for introspection as it nears its 25th anniversary. Prime Minister Modi suggests involving nations from the Global South to evaluate and shape the future of the G20. He emphasizes the importance of credible multilateralism, which embraces reform, treats stakeholders equally, and taps into the power of individuals, societies, cultures, and civilizations.
4. India’s Role as a Trustworthy Voice of the Global South
Prime Minister Modi discusses India’s relationships with countries across the globe, highlighting its role as a reliable partner and advocate for the Global South. He emphasizes India’s empathy with developing nations and its commitment to raising their concerns and voices on the global stage. India’s G20 Presidency reflects its dedication to inclusion and ensuring that those previously excluded from the global discourse have a seat at the table.
5. Clean and Renewable Energy: India’s Commitment
Addressing the pressing issue of clean and renewable energy, Prime Minister Modi emphasizes India’s strong commitment in this area. He cites India’s achievement of the goal to source 40 percent of its energy from non-fossil fuel sources by 2030, a milestone reached in 2021. India’s leadership in solar and wind energy, electric vehicle incentives, and behavior transformation towards eco-friendly practices are also highlighted.
6. Navigating Geopolitics in Global Trade
The interview explores the impact of geopolitics on global trade and the rise of bilateral agreements as the World Trade Organization’s relevance declines. Prime Minister Modi underscores the importance of creating reliable global value chains, stable policies that encourage trade, and India’s role in strengthening the multilateral trading system during its G20 Presidency.
7. Equitable Trade Policies for Development
The conversation shifts to the importance of equitable trade policies for the development of poorer nations. Prime Minister Modi stresses India’s commitment to promoting a fair-trade regime, supporting the interests of the developing world, and amplifying the voices of countries not represented in the G20, such as those in the African Union.
8. Addressing Debt Vulnerabilities in Developing Nations
Prime Minister Modi highlights India’s efforts to address debt vulnerabilities in low-income and middle-income countries during its G20 Presidency. He discusses India’s advocacy for coordinated debt treatment, the launch of the Global Sovereign Debt Roundtable, and the role of public awareness in preventing financial crises.
9. India’s Digital Public Infrastructure Revolution
The interview showcases India’s achievements in creating and deploying digital public infrastructure, such as UPI, Aadhaar, and ONDC. Prime Minister Modi discusses how these initiatives are not only boosting the economy but also empowering the people and fostering a people-centric approach to technology.
10. Tackling Inflation and the Future of a Prosperous India
Finally, the conversation touches upon the issue of inflation and its global impact. Prime Minister Modi acknowledges inflation as a pressing global issue and discusses India’s steps to control it. He also shares his vision of India’s role as the third-largest economy by 2027, highlighting its clean and green growth and positive impact on the world.
Prime Minister Narendra Modi’s exclusive interview with MoneyControl provides insights into India’s dynamic vision for its G20 Presidency, emphasizing the country’s commitment to inclusive growth, technological innovation, and responsible global leadership. India’s role in shaping the global future as a trustworthy voice of the Global South and a driver of clean and renewable energy and equitable trade policies reflects its dedication to the betterment of the world.
