The G20 is a leading global forum for international economic cooperation, comprising key advanced and emerging economies. Each year, the G20 convenes under a different member through its rotating presidency and secretariat. In 2023, India will assume the G20 presidency for the first time; New Delhi will set the G20 agenda, organise the Leaders’ Summit, and host meetings with ministers, government officials and civil society.

The G20 presidency undertakes a wide range of activities to help members discuss and coordinate policy on matters of common interest. The shift in focus in recent years to the Global South is illustrative of the growing influence of emerging economies like India in directing international development cooperation and strengthening multilateralism. India’s ambitious foray into the global economy, with its human capital and entrepreneurship, has underlined its leadership among the emerging and developing economies. India’s vital role in global economic governance has fostered its active participation in the G20 process.

India has been active in the G20 processes in the Sherpas and Finance Track. Its support for global cooperation, inclusive development, economic stability, and sustainable growth is in line with its national goals and the values espoused by other leaders of the G20. In October 2021, India’s G20 Sherpa Piyush Goyal stated that “for the next few years, developing countries like ours will be leading the organization, Indonesia next year, followed by India. It is a unique opportunity for all of us to inject a more inclusive and equitable agenda at the G20.”^[1]

The India-Australia partnership is underpinned by shared pluralistic democratic values, common interests, and strong bilateral relations. Both countries hold long-standing people-to-people ties, trade relations, and strategic partnerships. In 2021, the India-Australia Joint Ministerial Commission relaunched the Comprehensive Economic Cooperation Agreement and aims to conclude the negotiations in 2022.^[2] In 2020, the two countries reaffirmed their commitment to strengthen ties and agreed to elevate the bilateral Strategic Partnership to a Comprehensive Strategic Partnership.^[3] Furthermore, India and Australia have maintained their commitment to a free and open Indo-Pacific region with the Quadrilateral Security Dialogue.

India recognises the importance of its growing partnership with Australia and is keen to develop its cooperation at the G20. An outcome of the June 2020 virtual bilateral summit between Indian Prime Minister Narendra Modi and his Australian counterpart Scott Morrison was to work together on international economic issues through the G20. In this context, this report identifies India’s and Australia’s priorities at the G20 and suggests areas for further collaboration.

As India enters the G20 Troika—consisting of the current, previous, and incoming presidencies—and prepares to assume the presidency in 2023, this report examines five areas of collaboration between India and Australia at the G20: reforming multilateral institutions; global financial stability; Sustainable Development Goals (SDGs); digital economy and governance; and illicit capital flows.

Read the report here.

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^[1] Ministry of Commerce and Industry, Government of India.

^[2] Department of Foreign Trade and Affairs, Government of Australia, “India-Australia Comprehensive Economic Cooperation Agreement”, 2020.

^[3] Ministry of External Affairs, Government of India, “Joint Statement on a Comprehensive Strategic Partnership between Republic of India and Australia”, June 4, 2020

• International Affairs
• Indian Foreign Policy
• Economics and Finance
• Economic Diplomacy
• India
• Australia
• G20

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