India’s foreign minister S Jaishankar's checklist for the G20 meeting

1. India is "15 percent of the solution" the G20 is looking for in terms of economic growth and development. Speaking at the Festival of Thinkers event organized by Symbiosis International University in Pune, Jaishankar cited managing director of the International Monetary Fund to support his statement.

"(IMF managing director) Kristalina Georgieva tells that 15 percent of the world's growth this year is going to come from India, that means we are 15 percent of the solution that the G20 is looking for in terms of economic growth and development," Jaishankar was quoted by PTI as saying.

2. Jaishankar said the responsibility of making Asia "multi-polar particularly falls on India", adding that "the world will be multi-polar, diverse and democratic only when Asia is diverse and democratic".

He further said Asia is growing because Asia has been global but warned against falling for 'Asia for Asians' rhetoric. He said, "That rhetoric is misleading and appeals to primitive chauvinism. It actually has deep strategic intent behind it."

3. Jaishankar said data security and data privacy are the biggest challenges of the digital world. The "issues connected to them are expected to be addressed during the G20 meeting", he said. "What it boils down to is who sees your data, who harvests your data, who monetizes your data, who utilizes your data and what power do they have over you as a result of all this," Jaishankar explained.

He emphasised on the new term 'data is the new oil'. "What does it mean? It actually means every digital transaction contributes to artificial intelligence, the creation of which will actually determine what is the balance of power among nations in the coming years," he opined.

Stressing on the the need for data privacy, he said more trusted practices are required to ensure privacy is respected "and conveniences of life do not become a vulnerability for each one of us as well as for the the nation".

Promoting greater digital payments, National Data Governance Policy, establishing Data Embassies, creating Entity DigiLocker, Centers of Excellence for AI and National Digital Library for children and adolescents are among other things to be discussed at G20.

4. The external affairs minister added that technology is a hugely complicated factor, and "these (technology, its implications and complications) are really the issues which G20, in some form, is expected to address."

5. Jaishankar focused on the issue of supply chains and said having more resilient, reliable and multiple supply chains was a major concern and need in the manufacturing world.

On Pakistan's economic crisis, Jaishankar said, "No country will ever come out of a difficult situation and become prosperous power if its basic industry is terrorism."

Lending out a solution for the crisis in the neigbouring country, the minister said if any country gets into severe economic problem. that country has to make policy choices and governance decisions to get itself out of it.

"Others can't solve your problems if you aren't prepared to solve them yourself. This isn't Pakistan's point but it's a general point. World can provide options and support, but bottomline has to be done by that country and often it'll require tough choices," he said.

#WATCH | Pune:"...Just as a country has to fix its economic issue, a country has to fix its political, social issues too. No country will ever come out of a difficult situation & become prosperous power if its basic industry is terrorism": EAM on Pakistan economic crisis (23.02) pic.twitter.com/Ssbu5auWfs

— ANI (@ANI) February 24, 2023

He added if he were "to look at any big decision... I will also look at what is the public sentiment. I would have a pulse what do my people feel about it. And I think you know the answer".

Jaishankar said that the businesses should share equal responsibility for the skewed trade balance with China, J. He blamed India Inc for not developing sufficient sourcing capabilities within the country.

"Indian corporates have not developed the kind of backwards (integration), vendor supplies, components and parts, ingredients and intermediates that should be supporting us," he said. He warned that those who "do down" manufacturing are "actually damaging India's strategic future".

Jaishankar further said neglecting manufacturing will lead to damaging India's "strategic future". He warned that "massive external exposure" puts India's national security at threat. In 2022, India-China trade touched $135.98 and New Delhi's trade deficit with Beijing crossed the $100 billion mark for the first time despite frosty bilateral ties.

"Indian corporates haven't developed the kind of backward (linkages), vendor supplies, components and parts, ingredients and intermediates that should be supporting us," he said while speaking at the annual Asia Economic Dialogue organised by the external affairs ministry in Pune

However, he emphasised that the self-reliance motto is a corrective step taken by the administration after the flaws that got exposed during the COVID pandemic.