G20 Presidency helps India deepen trade ties: Experts

The G20 Presidency with India is helping Delhi strengthen trade ties with member nations and provides an opportunity to attract investments from those countries in sectors like infrastructure, experts say.

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WITH MEMBER NATIONS

They said that the G20 (Group of 20) holds a strategic role in securing future global economic growth and prosperity, as its members represent about 85 percent of the global GDP (Gross Domestic Product), 75 percent of global trade and two-thirds of the world’s population. Presiding over this multilateral forum is an opportunity for India as it can showcase its strength and achievements for attracting investment and deepen its trade relation with these large economies,” the experts added.

Fast-tracking negotiations for free trade agreement, ease of doing business, development of modern infrastructure, skilled manpower, large population with growing income are some of the positives which help India to enhance trade realisations with these member countries.

The G20 has 43 members and not 20 countries. These include 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Trkiye, UK and US) and the European Union (27-member group). Three EU countries - France, Germany, Italy - are counted among the 19 countries.