US Treasury Secretary Yellen to Attend G20 Summit in Delhi; China's Xi Likely to Skip

The upcoming G20 leaders summit in New Delhi will be US Treasury Secretary Janet Yellen's fourth visit to India in less than a year. The Treasury Department has stated that Yellen's main goals during the summit would be to improve the global economy and aid middle- and low-income nations. Efforts will need to be made to speed up debt restructuring, advance the formation of multilateral development banks, and increase IMF trust fund resources to accomplish these goals.

Yellen will likely also call on her G20 counterparts to keep providing financial aid to Ukraine and to put more pressure on Russia in reaction to the country's involvement in the situation in Ukraine. Supporting the G7-led cap on Russian oil exports and other attempts to strengthen global food security in the face of restrictions on Ukrainian grain exports are examples.

At the same time, Yellen hopes to improve ties between the two countries. She emphasises India's strategic relevance because she sees it as a possible alternative to China for US investments and supply chains.

The Chinese president, Xi Jinping, is rumoured to be skipping the G20 summit. One possible explanation is China's reluctance to exert its influence over India, a major economy that is expanding rapidly. According to Reuters, China will be represented at the conference by Premier Li Qiang.

Experts say that China would be wary about India's ascendance to a prominent role at the G20 since it could be seen as a threat to Beijing's hegemonic status. According to South Asia Initiatives Director at the Asia Society Policy Institute (ASPI) Farwa Aamer: "China doesn't want India to be the voice of the Global South, or that country within the Himalayan region to be hosting this very successful G20 summit."

Furthermore, Russian President Vladimir Putin has already indicated that he won't be attending the conference in person. Instead, he'll have Russia's Foreign Minister Sergei Lavrov attend.

As a developing power with attractive markets and potential for global supply chain diversification, India has a lot to gain by participating in the G20 meeting and showing off its accomplishments, such as the successful lunar landing.

The G20 meeting is set to take place in Delhi on September 9-10. Since December 1 of last year, India has presided over the Group of Twenty (G20), highlighting its importance on the international scene.

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