World’s low-income superpower embraces its global moment

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World’s low-income superpower embraces its global moment
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India’s distinct geopolitical perspective will be on display at this week’s G20 leaders summit and, like a Bollywood star, Prime Minister Modi is ready for his close up.

A world power like no other takes centre stage this week. For the first time India will host the G20 leaders’ summit in the nation’s capital, Delhi.

Ultra-cheap mobile data has underpinned sweeping changes in the financial system. India’s home-grown “unified payments interface”, or UPI, has allowed hundreds of millions to participate in the economy at low cost. The system currently processes more than 40 per cent of the world’s real-time payments.

“India considers it a responsibility to bring the issues, expectations and aspirations of the global south to the attention of the world through the G20 platform,” Modi said in June. G20 ministerial meetings held in the prelude to the Delhi summit have been widely covered by India’s huge media industry and Modi, who faces re-election next year, has used the event to showcase India’s achievements and international influence.

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