India has formally assumed the G20 Presidency on December 1, Thursday. The G-20 gathering represents 19 leading world economies and the European Union and to take the reins of leadership is a moment of great pride for India. The fact that it is happening in the 75th year of the country’s independence makes it all the more special. In the words of Prime Minister Narendra Modi, the occasion provides an opportunity to work for “promoting the universal sense of oneness.” There are important and critical tasks ahead for the government as it wears the robes of global leadership of an important gathering which makes half of the world’s Gross Domestic Product. From ensuring economic stability, rationalising international taxation, relieving debt-burden on countries, tackling climate change and ensuring a rules based international order when the world is on the brink of a nuclear catastrophe, the world faces many challenges. As PM Modi pointed out in his article, all living and nonliving things are composed of the five basic elements - earth, water, fire, air and space, according to Hindu mythology. The need of the hour is to bring all these elements into harmony with each other which will enable a proper physical, economic and social environment for the well-being of not just India but the entire world. There is no doubt that India is the world’s largest democracy. There are hundreds of cultures that exist in harmony with each other. India is a country where people of dozens of faiths have been living side by side with each other. The experiences and learnings of people of India can be projected as possible templates for the world which seems to be on the verge of disintegration both by natural and manmade causes. On one hand, a war is going on in Eastern Europe where Russian President Vladimir Putin has threatened to use nuclear weapons if need arises while the west, led by the United States, is arming Ukraine to keep the fight going. The war has led to global food shortage and dramatically increased the cost of fossil fuels which has spiked inflation across the world. On the other hand, the world is dreadfully staring at the possibility of self-annihilation amid the rising threat of global warming. These are two major challenges for the world and India needs to step up. As a global leader and a superpower, India needs to show the way for resolving disputes between nation states so the world can reap the fruits of peace and harmony.