India Goes For The Moonshot

By: Sachee Trivedi

The world is facing many problems. If climate change threatens to wipe our civilisation from the planet, income inequality threatens to destroy the civility and the rule of law nurtured over centuries.  Top 10% of the world’s richest have 3 times more wealth than what is owned by the bottom 90%

Capitalism as an economic ecosystem creates and exacerbates these disparate outcomes. Communism, with all its noble intentions, have failed to deliver what it advertises.

In 1999, the finance ministers and central bankers of the 19 largest economies and the European Union created a forum called the G20 to discuss international economic issues. In 2007, in the wake of the global financial crisis, the attendance was elevated to the level of Heads of State

The heads of the member nations of the G20 met in New Delhi on 9-10 September 2023 for the G20 Summit. India holds the Presidency of the G20 from 1st December 2022 to 30^th November 2023.

Usually such events are largely ignorable for investors as grand visions are pandered freely and mostly without accountability. But there was something in this Summit for the investors to take note of and no its not what Martin Wolf of the Financial Times flagged. As per Martin, “By far the most important contribution of the Indian presidency could still be the commissioned reports on strengthening finance for development of the environment”.

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