G20 is an economic body, issues of war have implications on economics, says Amitabh Kant at B20 Summit

India’s Sherpa to the G20 Amitabh Kant on Friday said that the G20 is an economic body but noted that war can have a huge implication on economics.

“The G20 is an economic body; it is a body for growth. The political body is the United Nations. But issues of war lead to challenges on food, fuel and fertiliser and therefore, there is a huge implication on economics. That is what other countries are saying,” he said at the B20 Summit India 2023 in response to a question on how the G20 can bring peace in the ongoing Russian-Ukraine war.

Kant noted that the “war is not our creation” and underlined that the challenge is to put developmental issues right at the forefront.

He further said that on the issues of war, the G20 Leaders’ Summit in Bali last year had fallen back on the UN resolution. “We are quite hopeful that we will convince everybody to fund an amicable solution to the geopolitical issues,” he further said.

Earlier, addressing the session, Kant said the recommendations of the B20 will find a place in the G20 Leaders’ Declaration that will come out subsequently. The G20 Leaders’ Summit is set to take place in the capital on September 9 and 10.

He further noted that India is hosting the G20 Presidency when the world is going through several challenges including a recession in several countries, debt crisis in many others as problems related to the pandemic.

Noting that every challenge also creates an opportunity, Kant further said, “India hosting the G20 is an opportunity to what the PM has said to be inclusive, decisive, action oriented and very ambitious.”

India has been very ambitious in its G20 presidency, he further said, adding that India has made it into a people’s Presidency.

He also highlighted India’s high economic growth and said the country has taken a vast number of developmental measures. He further said that the Global South will lead two thirds of the global growth in years to come and made a case for allocating more resources to them. “Six of the 12 fastest growing countries in the world come from the Global South,” he said, adding that India’s presidency is also focused on the Global South and making the African Union a permanent representative of the G20.

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