Published March 28, 2025 | Version v1
Journal article Open

The Role Of India In Global Economic Governance: Analyzing India's Position In G20 And Beyond

  • 1. , S.S.G.M. College, Kopargaon
  • 2. S.S.G.M. College, Kopargaon

Description

India is becoming a key global economic player, showing strong export performance in sectors like petroleum, agrochemicals, semiconductors, and precious stones. The government is working to boost exports and enhance India’s reputation as a reliable supplier. In 2023, India ranked among the top 10 globally for exports, surpassing $1 billion in several categories. Global Governance is the management of international issues to promote fairness, involving institutions and policies that foster cooperation to address challenges like climate change. Its main aim is to ensure global public goods like peace. The Indian government has launched initiatives to raise exports and attract investments, including a Foreign Trade Policy effective from March 31, 2023, which focuses on tax relief, exporter support, easing business processes, and new sectors like e-commerce. Support schemes exist for labour-intensive sectors, and recent reforms aim to improve investment conditions. Initiatives like Startup India and improved infrastructure through PM GatiShakti enhance the export environment. India's export growth and involvement in issues like fisheries subsidies and e-commerce tariffs show its commitment to sustainable development.  India's role in global governance has evolved, becoming more active in addressing trade, climate change, and security challenges. Its policies emphasize the need to reform existing frameworks to meet these challenges and promote sustainable global cooperation

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