G20 Summit is one of the major platforms where countries discuss various economic growth related issues and attract investments which lead to overall development of their nation. The G20 is the world’s premier economic forum. G20 summit and India gathers 20 major countries and economies together to address global challenges. Established after the Asian Financial Crisis of 1999, when leaders realized crises could no longer be contained by individual nations alone and needed greater international economic cooperation, its membership accounts for approximately 85% of global economy. 75% of trade volume and two thirds of population of this planet: Argentina, Australia, Brazil, Canada, China, France Germany India Indonesia Italy Japan Russia South Korea Turkey US are members.
The summit took place at the Bharat Mandapam International Exhibition-Convention Centre, formerly known as Pragati Maidan, in New Delhi from September 9–10. India has taken on the rotating G20 presidency this year and will be focusing on advancing global priorities under its leadership. However, there is much uncertainty ahead of the summit due to a variety of political and social challenges. It is not yet clear whether the summit will be able to produce a communiqué binding member states. In addition, the summit may be disrupted by protests in the city. Nevertheless, despite these difficulties, the summit is expected to be a success. This is mainly due to the fact that the US and other countries support India’s efforts to promote the interests of their citizens. This will help the summit to continue its work in an increasingly complex and uncertain international environment. The summit will also mark the first time that Africa has been invited to join the G20
About G20 summit and India
The G20 summit addresses topics like global economy, governance, poverty and inequality, climate change, trade and investment as well as digital transformation. While its traditional focus was macroeconomic policy, more recently its scope has expanded significantly into areas beyond macroeconomic policy such as trade and investment and digital transformation. Furthermore, this summit provides members of G20 an opportunity to network and strengthen relationships among themselves.
India, is one of the G20’s new members, stands a unique opportunity to shape its future. Under PM Narendra Modi’s leadership, India has focused on fostering South-to-South cooperation and serving as an arbiter during contentious global issues such as Russia’s aggression towards Ukraine. Furthermore, gender equality and women-led development initiatives are being actively promoted within their borders.
Although the G20 is widely seen as an international forum of cooperation among nations, its membership often remains divided on certain key issues. Yet despite these divisions, members have generally agreed on reforming global institutions like the World Bank and IMF while also setting out rules regarding crypto currency transactions. They have pledged their cooperation in furthering economic development for low-income nations while mitigating climate change impacts.
This summit will also cover health-related matters, such as pandemic preparedness and drug price rises. It will underscore the significance of universal healthcare coverage and innovative digital solutions for global health; call for urgent support of low-income countries; as well as greater international efforts against antimicrobial resistance threats.
The G20 Summit will feature working groups dedicated to agriculture, climate, energy, development, finance, food security, and the world economy. Each working group will have a lead country that sets their agenda and oversees meetings during the summit; at its conclusion they should produce a final report that may include proposals for action from all participants as well as side events and bilateral meetings. Additionally, there will be several side events and bilateral meetings during this summit.
The G20 summit and India brings together 20 of the world’s largest advanced and emerging economies, representing 80% of global GDP, three-quarters of world trade, and two-thirds of its population. Since 2008-2009 financial crises, their agenda has been broadened to address political and social issues that intersect with economic interests; each Summit serves as an invaluable opportunity for countries to come together and discuss common problems.
G20 country list
The Group of 20 (G20) is an international forum that brings together major economies. With members representing 85% of global GDP and responsible for shaping international economic policy, this body does not have an institutional headquarters but instead rotates among countries each year based on GDP contributions. Their leaders meet periodically at summits held throughout the year to discuss both economic issues as well as topics of common interest that require coordinative policies.
The G20 member nations share a commitment to supporting strong, sustainable, balanced, and inclusive global economic growth. Furthermore, they work collaboratively on opening global markets and creating rules-based multilateral trading systems. Furthermore, this forum serves as an indispensable forum for discussing economic challenges and crises worldwide.
- Saudi Arabia
- South Africa
- South Korea
- United Kingdom
- United States
- European Union (represented by the European Commission and the European Central Bank)
- African Union
G20 summit 2023
The G20 is an international forum for global economic cooperation that works to shape and strengthen financial architecture and governance around the globe. Although initially focused on macroeconomic issues, its agenda has since broadened to encompass socio-economic concerns such as growth, employment, climate change adaptation/mitigation/sustainable development/agriculture/anticorruption etc. Comprised of 20 of the world’s most powerful economies it serves as the premier platform for international economic cooperation.
India currently leads the G20 presidency under the motto, “Vasudhaiva Kutumbakam,” or One Earth, One Family and One Future. This theme pays homage to India’s cultural traditions while calling attention to global cooperation as necessary to confront today’s greatest challenges.
G20 members collectively account for 85% of global GDP, 75% of world trade and two-thirds of world population – making their representation at this summit of key importance in addressing some of our most urgent problems. They are responsible for setting global macroeconomic policy as well as working closely with international organizations like IMF, WTO, OECD and others to set priorities for cooperation between themselves and one another.
The G20 is an informal but influential body, and its decisions can have a substantial effect on global policies. The forum’s working groups address topics like agriculture, anti-corruption, climate, digital economy development education employment environment energy health. Staffed by experts known as sherpas who serve as personal emissaries to Leaders they advise and shape ideas and priorities ahead of the Summits as well as facilitate intergovernmental negotiations and prepare and follow up on Leaders Declaration at Summits these specialists play a vital role in its success by creating consensus around policy initiatives.
The Group of 20 (G20) is an international forum composed of the world’s 20 largest economies. Established in 1999 in response to the Asian financial crisis, its purpose is to foster global economic stability and cooperation through its membership that represents approximately 85% of global GDP and 75% of international trade. Each year a different member state assumes leadership of this global body for one year before holding a Leaders Summit and hosting ministerial meetings on specific issues conducted by finance or economy ministers or central bank governors of member nations.
G20 membership comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan South Korea Mexico Russia Saudi Arabia Turkey and United States. This global forum addresses matters of common interest such as international security and financial stability while simultaneously seeking to promote sustainable growth while decreasing inequality among members.
One of the biggest obstacles facing the G20 is Russia’s aggressive behaviour, which threatens global stability. G20 nations must work together to counter this threat and safeguard citizens worldwide. Furthermore, their role is essential in creating rules-based trading systems and strengthening WTO rules.
G20 leaders have pledged their collaboration on various other critical issues beyond just the G20 Summit. These include addressing global inequality issues, increasing investment in infrastructure projects and developing alternative sources of energy; climate change mitigation; women empowerment efforts and expanding global prosperity are also on their minds.
India, as host of the summit, will take special precautions to ensure its successful running. Roads have been shut off and over 130,000 security staff deployed. India’s leader hopes to use the summit as an opportunity to promote himself as a major world power ahead of national elections in spring 2024.
G20 summit and India Tourism Promotion
India during presidency of G20 in 2023 arranged nearly 200 meetings at nearly 100 destinations across India. G20 summit and India 2023 meetings were arranged at famous tourism destinations of India such as Delhi Agra Jaipur, Goa, Varanasi, Udaipur etc. These meetings on various themes and international and social issues were held successfully. Thousands of delegates and officials took park in these conventions and Indian rich and varied cultural heritage was presented before the world. Scores of key issues such as economic and environmental issues were also addressed. Priority issue were global cooperation for clean energy and sustainable development.
Forth G20 tourism wording group meeting was held in Goa India in June’2023. The meetings were arranged in Bengaluru, Gandhi Nagar, and Srinagar etc. Goa meeting was addressed by P.M Narender Modi on Video conferences and he addressed about Indian motto of tourism “Atithi Devo Bhavh” signifying guest if God. P.M of India reiterated his commitment to develop world class infrascture to attract tourist and emphasized on the development of spiritual tourism as India is the cradle to major religious such as Buddhism, Jainism, Hinduism and Sikhism Millions of Pilgrimage.