How India is growing after G20 summit? How it will act as ‘Third largest economy ‘ in next 10 years.

How India is growing after G20 summit? How it will act as ‘Third largest economy ‘ in next 10 years

**Author:- Adrija De, a Student of Snehangshu Kanta Acharya Institute of Law, Kalyani University

Introduction

Groups of 20 ( G20) is the premier forum for international economic cooperation it play an important role in architecture shaping and strengthening global and governance on all major international economic. This year India holds presidency of the G20. India has organised G20 summit in 2023 with the world leaders .9 th and 10 th of September was very fruitful day for India in 2023 . The summit held on ‘ Bharat Mandapam ‘ convention hall with theme ‘vasudhaiva kutumbakam’ means whole world is one family. As per the reports it was a successful event in history of G20 . How it growing after the summit and how India can be third largest economy soon.

The success of G20 summit of India

1.G20 nations hailed India ‘s success in reaching agreement on joint communique that remained in doubt just days before world leaders gathered in new Delhi for their most significant annual diplomatic event.

2. Given that the G20 nations collectively account for over 85% of the global Gross Domestic product GDP and encompasses roughly two thirds of the global population their influence holds significant significance.

3.It had the consensus of 2,500 people all over India. Through out the year summit had been organised in different states including Arunachal Pradesh and Jammu and Kashmir which was attended by world members which indirect support for India.

Now the Question arises, How India is growing after the summit

We can say India has achieved  through G20 summit. Let see some point s of the summit .

1.G20 had formed by 20 countries but Chinese president ‘ Xi jinping ‘ and Russian president ‘ Vladimir Putin ‘ were absent at the summit. Despite of other world leaders India had invited other countries too. The countries were UAE , Bangladesh and Singapore. Many media predicted that it can make disaster due absence of Russia and China. But It becomes a successful event.

2. During the session the leader of our country discussed , propose, and share the idea of Digital public infrastructure ( DPI ) example Digi locker , Aadhaar and UPI etc. If all the countries come in one infrastructure one network then we can stablish ‘ one future one alliance ‘ in future. 

3. This G20 joining of African union was a historic moment for the world. India had involved Africa union and it expanded to G20 to G21. And India can invest 130 billion dollars within 2030 as per ‘mint ‘. Africa is treasure chest for the world it consists 51 countries were countries ,like Ethiopia , Egypt, South Africa and Kenya exist with treasure of the world which can make cities like ‘ wakanda ‘. Think how much trusts gained from India by Au.

4. The summit also discusses the topic of 6 points which was the highlighted ‘Delhi Declaration ‘. The topics were Sustainability Development, Economic growth,  Private sector involvement, Finance, Eliminating child labour. The Discussion of all this sector had given results . This goal had been set for 2030 but it can be achieved so fast 12% collective measures are taken to achieve the goal . The statement is given by Sherpa of the summit ‘Amitabh Kent ‘ . The best part is that Ukraine has given full support to the declaration.

Can India became the ‘Third largest economy ‘ of the world

‘ India is now 5 th largest economy in the world this year . It can be world ‘ Third largest economy ‘ in 2027 . The some points given by State Bank of India ‘ . Some points given by SBI are . 

1.India s present GDP grown is 1lakh 80 thousand crore dollar . But in 2018 it was seventh list in the economic race .

2.In the upcoming two year it will add 75 thousand crore dollars in the present GDP. If this way GDP gets added then it will boom 2047. It will add 20 lakh trillion dollar economy which March third position in next 10 years.

3. Investment of African union can bring huge success in the race of business, technology, network and relations . The Door of next ten years success is present in the ‘ second largest continent of the world ‘.

4. Day by day ‘ s adding of GDP billion to trillion can bring huge success on the growth of economy of India.

This G20 summit and the idea of Third largest economy can lead to the world success of the country. Let see some impacts of the summit and idea.

1. The idea of ‘ one future, one Alliance ‘ will lead to open a huge world wide network for education, research, intelligence and international relations to connect with the public.

2. The joining of African union will rise a historic moment in the technology to build the future cities of the world. Countries like Bangladesh, UAE and Singapore will a play a vital role in world politics. 

3. The Delhi Declaration with Ukraine support will help to solve the 6 points of the world with upcoming stability. To success in the upcoming generation.

4. If India really achieve the goal of Third largest economy it will lead to a booming success in trade , network and technology.

Conclusion

After all the discussion of G20 summit and Third largest economy. The most important we can see the innovative idea of DPI , joining of other countries, 6 points in ‘ Delhi Declaration ‘ and GDP growth estimate by SBI branch of India . Actually it all about grow and growing of India in next 10 years. We just have to see is it realistic or futuristic in next 10 years .