Today is the first day of the 2018 Group of 20 Summit in Buenos Aires, Argentina. This two day meeting bringing together heads of state and government of the twenty largest global economies has been held every year since 2008 and, next year, it will be hosted by Japan. Additionally, along the sidelines of the G20 Summit, global leaders hold a series of bilateral and multilateral meetings to address pressing global issues. For instance, today, the Canadian Prime Minister and the Presidents of Mexico and the United States, took advantage of their gathering in Buenos Aires to hold a joint signing ceremony for the renegotiated North American Free Trade Agreement (NAFTA), now called US-Mexico-Canada Agreement (USMCA).

India and the Group of 20 Summit in Argentina

The G20 is a unique global forum because it brings together countries that are still developing and becoming increasingly important players in the global scene, which stands in contrast to the G7 that only brings together industrialized and already developed nations (namely France, the UK, Canada, Germany, the US, Japan, and Italy). For example, one of the rising political and economic powers present at the G20 is India.

India is a federal parliamentary republic located in south Asia and, with a total territory of 3.28 million square kilometers, the seventh largest country in the world. Geographically, India is dominated by upland and rolling plains as well as rivers and the Himalayan Mountains along the north. Moreover, the country has a coastline of 7.000 kilometers along the Indian Ocean. Currently, India has a total population of 1.3 billion citizens, with an average age of 28 years. Furthermore, about 34% of the population lives in an urban setting, notably the capital city of New Delhi with its 29 million inhabitants.

The annual gross domestic product (GDP) of the India is US$9.5 trillion (PPP) and the national economy has experienced positive economic growth upwards of 6.7% in recent years. As of today, the national economy is divided into 16% agriculture, 23% manufacturing, and 61% services. Meanwhile, the national labor force is divided into 47% working in the agriculture industry, 22% working in the industrial sector, and 31% working in services. Similarly, the national agriculture industry utilizes about 61% of the national territory, while another 23% is forested.

In terms of natural resources, India has coal, iron, manganese, bauxite, titanium, chromite, natural gas, diamonds, petroleum, and limestone. Within manufacturing, the national industry is focused on textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, and pharmaceuticals. Simultaneously, the country’s agricultural industry has as main products rice, wheat, oilseed, cotton, tea, sugarcane, lentils, onions, potatoes, dairy products, sheep, goats, poultry, and fish.

(Read more about Trade and Economic Dynamism in Paraguay)

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