A bold Budget can pave way for India to be Global South's voice
G20 summit held under the chairmanship of India in New Delhi amply demonstrated India’s growing stature in the world arena in terms of its role and influence in various global fora. The G20 was a meticulously planned year-long event culminating into the Summit in September 2023.
The theme of the G20 Presidency was declared as “One Earth, One Family, One Future” signifying LiFE (Lifestyle for Environment) and highlighting the importance of environmentally sustainable and responsible actions for a green and sustainable development. India was instrumental in securing the consensus on the resolution and granting permanent member status to the 55 — member African Union which shows the crucial role played by India in voicing the interests of the Global South.
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Perhaps, it is now time to build on the success of G20 summit and bring the Global South countries on board to proactively take forward the decisions and aspirations of the summit.
Considering India has time and again raised its voice on behalf of the Global South in various international meetings and in providing humanitarian assistance during calamities and the COVID-19 pandemic, India is appropriately positioned to contribute towards the collective development of the Global South. To sustain the influence and voice of India it is essential that quick on the heels of G20 summit some follow up measures can be announced through the instrument of the Union Budget 2024-25.
It may be recalled, India is one of the first developing countries to offer “duty-free quota-free” access to least developed countries (LDCs) to its markets through unilateral tariff concessions. Initiatives such as these may be supported by enabling the LDCs manufacture
