Can Telangana CM KCR emulate Hariprasad and uphold the idea of “Vasudhaiva Kutumbakam,” which translates to “One Earth, One Family, One Future”? This is the theme of India’s G20 Presidency. And political strategists suggests this opportunity will solve all fiscal woes of Telangana. Let’s wait and see.
The G20 has a substantial impact on and control over the global economic and financial systems because its members account for 90% of the world’s GDP, 80% of its commerce, and 2/3 of its population.
On December 1, India assumed the leadership of the Group of Twenty (G20), an organisation made up of 19 nations and the European Union, marking yet another significant turning point in the country’s swiftly ascending status on the international stage.
Under Narendra Modi’s leadership, the G20 will spearhead efforts by the world’s major economies, including the United States, China, the United Kingdom, Russia, France, Japan, Germany, Saudi Arabia, Brazil, and the European Union, among others, to ensure economic stability and sustainability on a global scale while modernising the global financial architecture to support such stability and sustainability.
For India, which has over the millennia contributed extraordinary contributions to the world’s civilizations, culture, legacy, spirituality, and peace, this is a time of immense pride.
India’s emergence as the fifth-biggest economy in the world and the largest country with the greatest rate of growth coincides with the G20 leadership. According to economists, India will dominate the upcoming ten years (2022–2022). They refer to this period as “India’s decade of outperformance.” Within the next five years, India’s economy is expected to overtake the United States as the third-largest in the world.
India is today not only seen as the hope for economic progress worldwide, but also as a force for good in the world. India recently helped the world affected by the Covid-19 pandemic by exporting Made-in-India vaccines under the name Vaccine Maitri to more than 100 countries at a time when many developed nations were stockpiling vaccines. Even on issues of international conflict and peace, major powers today see India as a force for good and seek its influence in resolving contentious matters.
Following its assumption of the G20 Summit’s leadership, India intends to organise more than 200 gatherings throughout the nation over the following 12 months. The leaders of all political parties have all been invited to a preliminary meeting that the Union Government has scheduled for December 5. The meeting’s lofty goal is to put politics aside and gather ideas from all sides in order to discuss and settle on tactics for the G20 nations summit, which will take place in September 2023.
According to rumours, Telangana’s chief executive officer, CM KCR, will not attend the gathering of all political party leaders on December 5 in the nation’s capital. Is it wise for India’s newest state to abstain from taking advantage of India’s G20 Presidency role? Shouldn’t political leaders put their egos aside and act only in the interests of the people of Telangana on such occasions? Even West Bengal Chief Minister Mamta Bannerjee, who is a vehement opponent of Narendra Modi politically, has announced she would be attending this meeting as the president of the Trinamool Congress Party. If Telangana Chief Minister, who is invited in his capacity as the president of the BRS aka Telangana Rashtra Samiti, takes inspiration from her example and attends the meeting.
Every State government, through the Government of India, can use this historic opportunity for its development. Besides the Finance Track (Finance Ministers and Central Bank Governors) and the Sherpa Track (personal emissaries of leaders), there are 10 Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, etc. And most important of all for every state government is B20 – the Business 20, which is the official G20 dialogue forum, where business heads from G20 members participate – just like at the World Economic Forum in Davos.
For example, the Telangana government claims that 24 per cent of total investments into the state come from existing companies from the USA, Japan, Korea, China, Taiwan, and Europe. IT and Industries Minister KT Rama Rao, in October 2021, made a presentation to the representatives of the European Business Group and requested them to consider Hyderabad for their business interests. Isn’t the G20 a platform to reach out and impress new investors from the EU and other member countries?
The G20 meetings also provide a unique opportunity for state governments. The state governments can combine forces with the central government and make pitches for investments in their states from B20 leaders. They can also do the same with the political leadership of G20 member states. For example, Telangana, which has a huge NRI community in Saudi Arabia, had requested that country to open a Consulate in Hyderabad. G20 provides an excellent opportunity for pushing such requests through the offices of the Central government to the political leadership of Saudi Arabia.
It is important to note that Yedli Hariprasad, a weaver from Sircilla, Telangana, was motivated by hearing that India will be hosting the G20 and sent a self-woven G20 logo to the prime minister. A modest weaver took the time to weave and give the government’s logo to the leader to commemorate the nation’s outstanding accomplishment. #KhabarLive #hydnews #hydlive