India is hosting the G20 summit amidst tensions within the group. Last year s summit in Bali was polarized over the Russia-Ukraine conflict, leading to a divide between G7 countries and the Russia-China combine. This year, the divide has deepened with issues such as the Russia-Ukraine war, US derisking from China, and the US-China tech-digital divide. India aims to highlight issues of the global south and focus on the North-South divide. However, discussions on debt sustainability and strengthening multilateral development banks will require China s cooperation, which may be challenging given Beijing s standoffish attitude towards the G20.
The second level of Bharat Mandapam, which holds the main summit room, will host an exhibition comprising showpiece artwork from all participants in both digital and physical form, said officials in the Ministry of Culture.
Business feedback to G20 s current agenda has prioritised resilience of value chains and ESG. The two issues are interlinked for companies moving from just-in-time to just-in-case manufacturing. Covid was the latest in a series of shocks delivered over the past decade, some of which (weather events) are triggered by ESG concerns. This was underlined at the B20 Summit last week when B20 India Task Force chairperson Uday Kotak brought up the matter of funding sustainability goals and the formation of a Global Acceleration Fund.