G20 Summit: The G20 is an intergovernmental organization consisting of 19 nations and the European Union. Its primary goals include tackling critical global economic issues such as ensuring international financial stability, mitigating greenhouse gas emissions, and promoting sustainable development. Now African Union also a permanent member of G20.
G20 nations catered for 85 percent of the world economy, 75 percent of world trade and 66 percent of world population.
The G20 group’s 20 members as of 2023 are:
Spain, the UN, the World Bank, the African Union, and ASEAN are just a few of the organizations that have been invited as guests.
The leaders of 19 nations and the European Union are represented in summits of world leaders, and the finance ministers and central bank governors of 19 nations and the European Union are present at meetings at the ministerial level.
The Group of Twenty (G20) will assemble for the eighteenth time in 2023, and the summit is expected to take place at New Delhi’s Pragati Maidan. India assumed the presidency on December 1, 2022, and held it until the summit in the third quarter of 2023. At the conclusion of the Bali summit, the G20 Presidency gavel was handed over from Indonesian President Joko Widodo to Indian Prime Minister Narendra Modi during a small ceremony.
Presidency of G20, SCO, UNSC in 2022: A Historic Opportunity For India
The G20 presidency is a significant responsibility, and the Indian government has enhanced its intellectual, administrative, infrastructural, and social capital, improved bureaucratic decision-making procedures, and created a list of agenda items for the coming year in order to rise to the occasion. These are being thoughtfully created with input from important parties, including corporations, think tanks, universities, civil society, labour unions, and the scientific community.
Vasudhaiva Kutumbakam, or “One Earth, One Family, One Future,” is the recently unveiled theme for India’s G20 year. It is based on Sanskrit scriptures and emphasises the interconnectedness of various forms of life, including humans, animals, plants, and microorganisms, as well as their significance both on Earth and in the larger cosmos. The theme makes use of the phrase “Lifestyle for Environment” (LiFE), which illustrates how environmentally sound decisions made at the local, state, and federal levels can result in more informed, transformative actions at the international level and help create a cleaner, greener, and bluer future.
The Ministry of External Affairs (MEA) revealed that there are 250 meetings held throughout the nation, 190 of which will be attended by the ministers in charge of the G20 nations’ nodal ministries for things like health, finance, agriculture, energy, and trade. Throughout the year, 100,000 people are anticipated to attend.
G20 Summit 2023 in September, India will host more than 200 events in 50 cities in 2023 that will involve government and civil society members and will culminate in a major conference in New Delhi. The summit is anticipated to draw thirty leaders of state and government from G20 countries and other invited countries.
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The Group of Twenty, or G20, is an intergovernmental organisation made up of the European Union and 19 other nations (EU). It strives to address important global economic concerns like international financial stability, reducing greenhouse gas emissions, and sustainable development. G20.
Along with the European Union, the Group of 20 (G20) is made up of Argentina, Australia, Brazil, Canada, China, France, Germany, Greece, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States.
Headquarters of G20 are in Cancun, Mexico.
An annual rotation mechanism for the G-20 presidency preserves regional balance over time. There is no permanent secretariat for the G 20.
The twenty largest economies in the world gather frequently to address the most important issues affecting the global economy in the G20 meeting. Together, the G20 countries represent more than 80% of the global GDP, 75% of international trade, and 60% of the world's population.
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