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Source– The post is based on the article “As India prepares to take over the G20 presidency, it can learn from Indonesia” published in The Indian Express on 4th October 2022.
Syllabus: GS2- International Relations
Relevance– India multilateral engagement
News– The article explains the lessons India can learn from Indonesia on economic engagement. These will be helpful for India’s presidency of G-20 nations.
G-20 is a grouping of developed and developing nations. It provides a common platform to discuss the issues related to global economic governance.
India is going to assume its presidency for 2022.
What can India learn from Indonesia?
Case of Indonesia– Indonesia is a trading nation. It is part of trade blocs like ASEAN FTA, RCEP and Asia-Pacific Economic Cooperation. Indonesian institutes are relatively outward.
It has strong intra-Asian relations. Indonesia has strong educational linkages with Australia. It has a long-term investment partnership with Japan.
Case of India– India has less multilateral and regional economic engagement. It has limited government and academia expertise on these issues.
Most trade agreements are shallow and have limited coverage. Even in areas where it excels globally like pharma and IT, India has reluctance to assume leadership roles
What is the way forward for India?
India can use its exemplary diplomacy to build goodwill and consensus. Strong economic base will help India in its engagement with the G-20.
India can shore up engagement with the Indian Ocean Rim Association (IORA). It can invite BIMSTEC nations to G-20 summit.
The G-20 summit should not be seen merely as a giant tourism and investment promotion opportunity. It requires dedicated and consistent policy engagement at every level, including the academic and business community.
India needs to assume a leadership role in the digital sector. India has a strong presence globally in these areas. It will be helpful for India’s leadership in the developing world.
Rather than bilateral engagement, India should go for a multilateral approach for building coalitions.
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