OECD Sherpa : India’s G20 Presidency at crucial moment of global economy

Andreas Schaal, the OECD Sherpa to the G20, praised India as a “fantastic host” for the entire world. According to him, India assumed the G20 presidency at a pivotal time for the world economy, when resilient, sustainable growth is needed.

On September 9–10, India will host the G20 Leaders Summit in its capital city at the recently opened Bharat Mandapam Convention Centre at Pragati Maidan. The G20 Summit is being held for the first time while India is in the presidency.

Andreas Schaal said, “First of all, I should say that India is a fantastic host for the world. India has taken the G20 Presidency at a crucial moment of the global economy in which we need sustainable resilient growth, we need to tackle inflation, we need to have new approaches on climate change to tackle the climate crisis. And the fourth point would be that we need to also tackle the Sustainable Development Goals. We’re halfway through and we need to have another emphasis to reach them.”

The big objective should be what the G20 can do to contribute sustainable, resilient growth, jump-start the engines of trade and investment, and focus on a structural reform agenda necessary to tackle inflation, he said when discussing the focus point of the upcoming Sherpa meeting.

Andreas Schaal said, “I mean, the big goal should be what can the G20 do to contribute to sustainable, resilient growth, kick-start the engines of trade and investment, focus on a structural reform agenda which is needed in country tackling inflation, really taking care of the people who are suffering due to high energy prices because of the war in Ukraine. So, there are things which are on the economic front, there are things you need to see.”
“We had 38 degrees today here in India, which is maybe normal, but in Europe, we had lot of heat, we had a lot of rain. So, I mean, the climate crisis is there…from this week, some decisive commitments from countries on fighting climate change, which is India promoting a Green Development Pact, the Lifestyle for Environment, Lifestyle for Sustainable Development. So, India is tackling and addressing these issues and we very much look forward to meaningful outcomes,” he added.