G20 SUMMIT

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Context:  India will hold over 200 G-20-related meetings across the country during its presidency of the grouping.

More on the news:

• The G-20 Leaders’ Summit will be held in New Delhi on September 9 and 10 in 2023, and Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain and the UAE will be the “guest countries” at the event, the Ministry of External Affairs (MEA) announced on September 13.
• India is currently part of the G-20 Troika [current, previous and incoming G20 presidencies] comprising Indonesia, Italy and India.
• During our Presidency, India, Indonesia and Brazil would form the troika.
• This would be the first time when the troika would consist of three developing countries and emerging economies, providing them a greater voice
• Discussion among all the member countries will include issues related to “women’s empowerment, digital public infrastructure, health, agriculture, education, culture, tourism, climate financing, circular economy, global food security, energy security, green hydrogen, disaster risk reduction and resilience, fight against economic crime and multilateral reforms”.
• A major challenge of the G-20 session in India will involve the ongoing crisis in Ukraine which has vitiated relation between Russia and the industrialised nations of the West most of which are members of the G-20 which represents 85% of global GDP and 75% of international trade.
• G-20 includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the U.K., the U.S. and the European Union (EU).

India’s G20 Presidency:

India will steer the international body as its President from December 1, 2022 to November 30, 2023.

About G-20:

• It is the premier forum for international economic cooperation, which reflects a recognition that global prosperity is interdependent and our economic opportunities and challenges are interlinked.
• G20 countries have come together to better prepare for the future.
• As a founding member of the G20, India has used the platform to raise issues of vital importance and those that impact on the most vulnerable around the world.
• Apart from the G7 countries, the G20 comprises Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea, and Turkey.
• Together, the G20 countries make up around 80% of the world’s economy and two-thirds of the world’s population.

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