India’s role in global financial stability: From G20 presidency to Viksit Bharat@2047
DOI:
https://doi.org/10.64171/JSRD.5.S2.105-109Keywords:
India, G20 Presidency, Global financial stability, Viksit Bharat@2047, Sustainable finance, Digital public infrastructure, ESG investingAbstract
The presidency of India in the year 2023 in the G20 is an important achievement in the journey of India becoming a stabilizer in global finance. In this paper, a conceptual review has been made based on India’s involvement in global financial stability in terms of its tenure in the G20 and its vision of Viksit Bharat@2047. India’s emphasis on the issues of debt transparency, climate finance, and multilateralism has been noted in this paper along with its innovations related to digital public infrastructure, like UPI and CBDC.
Further, the paper delves into the incorporation of ESG norms in the Indian capital market, where sustainable finance and green bonds are considered key means of achieving a balance between development and environmental considerations. Ethical governance, technological advancement, and inclusiveness are combined to make India a normative reference point in an increasingly multipolar financial structure. It is made clear how India’s role in building consensus and safety nets in the region can lead to systemic resilience in the context of climatic shocks, geopolitical instability, and disruptive technologies. Finally, the paper demonstrates that the realization of Viksit Bharat@2047 depends on finding a balance between developmental needs and international responsibilities, which transforms the notion of financial stability from a national priority to a global common good.
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