G20 leaders are gathering in Bali in a context of growing international tensions: the war in Ukraine and other geopolitical rivalries, a looming economic crisis in both advanced and emerging countries, increasing risks of de-globalization, and little hope of success at COP27. All this may take its toll on multilateral efforts at the G20 Summit. Which prospects for this Summit in Bali? Is there any room for cooperation on key global challenges, from environment to digitalization, from health to SDGs? What to expect from G20 India next year?