What is the G20?
The G20 is a forum of the 20 largest economies in the world that meets regularly to discuss the most important issues facing the global economy.
In other word G20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as International financial stability, climate change mitigation and sustainable development.
The G20 members represent around 85% of the global GDP, over 75 % of the Global Trade, and about two thirds (67%) of the world population.
The G20 started in 1999 in response to several World economic crises. In the starting it was a forum for finance ministers and central bank governors from the major developed and emerging economies to discuss global financial issues.
In it 2009 summit, the G20 declared itself the primary venue for international economic and financial co-operation. After 2009 summit it become a place where Presidents and prime ministers could get together for 2 days to try to solve the world’s economic problems.
The G20 operates without a permanent secretariat or staff. The G20 presidency rotates between members and is picked from different regions each year. The Group does not have a permanent secretariat. The Presidency is supported by the Troika – previous, current and incoming Presidency. Presently the G20 presidency is with India. During India’s Presidency, the troika will comprise Indonesia, India and Brazil, respectively.
Who are the members of G20?
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkiye, United Kingdom, United States and the European Union.
Why the G20 summit matters?
While the G7 is made up of rich countries the G20 manages to get leaders from both developed and emerging economies around the table, representing a far broader range of views.
When is the G20 SUMMIT 2023 Schedule?
G20 summit 2023 is scheduled on 9 and 10 September 2023 .
Which country is hosting the G20 Summit 2023?
India is hosting the G20 summit.
Which country will hold the presidency of G20 in 2023,2024 and 2025?
India, Brazil and South Africa will be the presidency of G20 in 2023,2024 and 2025 respectively.
India holds the presidency of the G20 from 1st December 2022 to 30th November 2023.
The Theme of India’s G20 Presidency is “Vasudhaiva Kutumbakam” or “One Earth . One Family . One Future”
The theme is taken from famous ancient Sanskrit text of Maha Upanished.
Where is G20 summit India 2023?
The G20 summit 2023 will be held in Delhi, India/Bharat over 2days on 9 to 10 Septmeber 2023. The Venue of G20 summit 2023 will be Bharat Mandapam Convention Centre at Pragati Maidan in Delhi.
Who will participate in G20 Summit 2023?
In this summit leaders and delegates from 40 countries, including 20 members states shall participate.
What will be the agenda of G20 Summit 2023?
Major agenda will be issues related to the global economy, such as International financial stability, climate change mitigation and sustainable development.
INDIA’S G20 summit priorities?
India’s G20 presidency has marked a significant milestone in its global leadership role. India taking the presidency for the first time.
During the presidency, India is focusing on various issues like inclusive growth, digital innovation, climate resilience, and equitable global health access.
India is fostering collaborative solutions that not only benefit its own population but contribute to the broader global well-being, reinforcing its spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’.
- Green Development, Climate Finance & Lifestyle for Environment (LiFE)
- Multilateral Institutions for the 21st century
- Accelerated, Inclusive & Resilient Growth
- Accelerating progress on Sustainable Development Goals (SDGs)
- Women-led development
- Technological Transformation & Digital Public Infrastructure
What is the meaning of “Vasudhaiva Kutumbakam”?
Vasudhaiva Kutumbakam/ वसुधैव कुटुम्बकम is a Sanskrit (an ancient Indian Language) phrase that is taken from Hindu spiritual book the Maha Upanishad, which means “The World Is One Family”.
