International Journal For Multidisciplinary Research

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The Inadequacy of G20 and its Need to Initiate a Reformulation of Development

Author(s) Isha Tripathi
Country India
Abstract The G20’s primary focus is ensuring economic growth and global financial stability, which has in time expanded to include the concerns of climate change, sustainability etc as well. But the currently dominant conceptualization of ‘growth’ and ‘development’ is the primary reason for these major issues like the looming climate catastrophe, humongous disparities in wealth, extremism born of disaffection, etc. On top of it, the G20 is also marred by severe underrepresentation of countries which is a serious issue, given the powerful influence of the group over global economics. As such, this forum is not suited for discussing sustainability and inclusiveness because its core concern is the anti-thesis of these objectives. However, if the group is willing to engage in serious reformulation of what growth and development means, it is an apt platform very well suited for the task. The world is currently under a transitionary phase when the evident failure of west’s modernist paradigm is creating space for alternative knowledge systems to come to the fore. G20 countries should use this as an opportunity to create alternative paradigms. India should urgently re-engage with its own ancient knowledge which contains the key to addressing pressing concerns.
Keywords G20, Alternative Paradigm, Development, Sustainability, Indigenous Knowledge
Published In Volume 5, Issue 4, July-August 2023
Published On 2023-08-09
Cite This The Inadequacy of G20 and its Need to Initiate a Reformulation of Development - Isha Tripathi - IJFMR Volume 5, Issue 4, July-August 2023. DOI 10.36948/ijfmr.2023.v05i04.5160
DOI https://doi.org/10.36948/ijfmr.2023.v05i04.5160
Short DOI https://doi.org/gskxcz
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