G20 Summits: The G20, also known as the Group of 20, is an intergovernmental gathering consisting of 19 nations and the European Union (EU). For this year, India is the President which means the g20 meeting will be held in India in the month of September. G20 is the premier forum of international economic cooperation and its plays an important role in shaping ans strengthening the global architecture and governance on all major international economic issues.
In other words G20 group’s primary focus is to tackle significant global economic challenges, including matters like international financial stability, the mitigation of climate change, and the promotion of sustainable development.
The G20 Summit 2023 is an annual meeting of the leaders of the world’s largest economies to discuss and coordinate global economic policies. India was scheduled to host the G20 Summit in 2022, but due to the ongoing COVID-19 pandemic, it has been postponed to 2023. G20 is different form other organisations and they are informal in nature, there is no permeant staff or headquarters instead of this the presidency rotates, every member hold the presidency for one year and for that one year that country will be the incharge for setting the agenda, theme, holding website etc.
G20, or Group of Twenty, is an international forum comprising the world’s major economies. It was established in 1999 as a response to the global financial crisis, with the aim of promoting global economic stability and cooperation.
G20 was created in 1999, following the Asian financial crisis, to provide a platform for major economies to discuss and coordinate economic policies.
Initially, it consisted of finance ministers and central bank governors from 19 countries, along with the European Union. Over time, it expanded to include leaders from these countries as well. The G20 represents two-thirds of the world’s population, 85% of global GDP, and over 75% of international trade.
Its membership includes major economies like the United States, China, Japan, Germany, and India, among others. The G20 holds annual summits where leaders come together to discuss key economic and global issues, such as trade, finance, development, and climate change. The forum focuses on fostering international cooperation, addressing economic imbalances, promoting financial stability, and addressing challenges faced by developing countries.
The major intention of the G20 is to provide joint efforts to ensure financial stability and economic growth and development, especially in developing and industrialized regions. This international forum engages major economies’ finance ministers and central bank governors.
The regional grouping of G20 primarily emphasized assessing the macroeconomic policies that influence the global economy. Joint efforts will be made to reduce harmful methane emissions and mitigate global warming.
The G20 leaders pledged to vaccinate 70% of the world’s population against the COVID-19 virus by the middle of 2022. During the pandemic, the major economies of the G20 group decided to suspend the debt payments that were supposed to be made by the world’s poorest countries. This gesture of humanitarian essence offered billions of dollars of relief to developing nations.
At the 16th G20 meeting in Rome in 2021, an agreement was signed among 140 countries to examine the entire process of international corporate taxation. The G20 summit that took place in 2018 in Argentina expanded the ambit of the G20 agenda and stressed fair and sustainable development.
At the 2016 G20 Summit in China, the focus was on the adoption of the Paris Agreement on Climate Change.
For Year 2023 India is holding the Presidentship and the G20 Summit 2023 will host its Ministerial Meeting in New Delhi at the Bharat Mandayam International Exhibition-Convention Centre (IECC). The G20 Summit itself is set to take place on the 9th and 10th of September 2023.
Bharat has adopted the lotus as its Emble and Vasudhaiva Kutumbakam is introduced as the theme of G20 Summit 2023. The Word Vasudhaiva Kutumbakam is originated from the Sanskrit language which means One Earth, One family, One Future.
The G20 2023 logo is inspired from Indian flag which consist of 3 colour i.e Saffron, white, green and blue. G20 Logo skilfully blends the image of planet Earth with the lotus, India’s national flower, symbolising growth amid adversity among the Nation.
Download G20 logo pdf
Download G20 logo with Theme pdf
The G20, also known as the Group of Twenty, is a forum for international economic cooperation consisting of 19 countries and the European Union. The members of the G20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Together, these countries represent around 80% of the world’s GDP and two-thirds of its population
Each year, the presidency invites guest countries to visit presidency country for G20 summit meeting. For 2023 the g20 submit will be held in India for the first time in the Indian History. The G20 group consists of 19 countries and the European Union (EU). India is one of the important members of the G20 Countries. List of G20 Member Countries are listed below:
List of G20 Countries | |
Argentina | Australia |
Brazil | Canada |
China | France |
Germany | India |
Indonesia | Italy |
Japan | Mexico |
Republic of Korea | Russia |
South Africa | Saudi Arabia |
United States of America | United Kingdom |
European Union | Turkey |
India has been actively involved in the G20 process since its inception in 1999. India’s participation in the G20 has helped to shape the global economic agenda and promote its interests on the world stage. India’s role in the G20 has been particularly significant in recent years, with the country hosting the G20 Finance Ministers and Central Bank Governors Meeting in 2019 and playing a key role in the G20 Leaders’ Declaration in 2020.
The G20 Summit is scheduled to take place in New Delhi at the ‘Bharat Mandappam,’ located within the ITPO Convention Centre in Pragati Maidan. This significant event is planned for September 9 and 10. Apart from the main summit venue, foreign delegates will have the opportunity to visit prominent locations in the national capital, including Rajghat, IARI Pusa, and NGMA (Jaipur House).
In September, a series of significant meetings and summits are scheduled across various Indian cities, reflecting the nation’s active engagement in global affairs. These events encompass the G20 Summit in New Delhi, preceded by preparatory meetings such as the 4th Sherpa Meeting and Finance Deputies Meeting. Below you can check the G20 Summit 2023 Schedule.
Date | Event | Location |
---|---|---|
September 3-6 | 4th Sherpa Meeting | Delhi |
September 5-6 | Finance Deputies Meeting | Delhi |
September 6 | Joint Sherpas and Finance Deputies Meeting | Delhi |
September 9-10 | Meeting of Ministers at the G20 Summit | Delhi |
September 13-14 | 4th Sustainable Finance Working Group Meeting | Varanasi |
September 14-16 | 4th Meeting for the Global Partnership for Financial Inclusion | Mumbai |
September 18-19 | 4th Framework Working Group Meeting | Raipur |
During the 15th G20 Summit, the Indian delegation will be led by Prime Minister Narendra Modi. The upcoming G20 Summit is scheduled to take place in New Delhi from September 9th to September 10th. Here is a comprehensive list of G20 host countries:
G-20 Summits | Dates | Host Countries | Venue & Host City | Host Leader |
---|---|---|---|---|
1st | November 14th-15th, 2008 | United States | National Building Museum, Washington, D.C. | George W. Bush |
2nd | April 2nd, 2009 | United Kingdom | ExCeL London, London | Gordon Brown |
3rd | September 24th-25th, 2009 | United States | David L. Lawrence Convention Center, Pittsburgh | Barack Obama |
4th | June 26th-27th, 2010 | Canada | Metro Toronto Convention Centre, Toronto | Stephen Harper |
5th | November 11th–12th, 2010 | South Korea | COEX Convention & Exhibition Center, Seoul | Lee Myung-bak |
6th | November 3rd–4th, 2011 | France | Palais des Festivals, Cannes | Nicolas Sarkozy |
7th | June 18th–19th, 2012 | Mexico | Los Cabos Convention Center, San José del Cabo, Los Cabos | Felipe Calderón |
8th | September 5th–6th, 2013 | Russia | Constantine Palace, Saint Petersburg | Vladimir Putin |
9th | November 15th–16th, 2014 | Australia | Brisbane Convention & Exhibition Centre, Brisbane | Tony Abbott |
10th | November 15th–16th, 2015 | Turkey | Regnum Carya Hotel Convention Centre, Serik, Antalya | Recep Tayyip Erdoğan |
11th | September 4th–5th, 2016 | China | Hangzhou International Exhibition Centre, Hangzhou | Xi Jinping |
12th | July 7th–8th, 2017 | Germany | Hamburg Messe, Hamburg | Angela Merkel |
13th | November 30th – December 1st, 2018 | Argentina | Costa Salguero Center, Buenos Aires | Mauricio Macri |
14th | June 28th-29th, 2019 | Japan | Intex Osaka, Osaka | Shinzō Abe |
15th | November 21st–22nd, 2020 | Saudi Arabia | King Abdullah Financial District, Riyadh | Salman |
16th | October 30th-31st, 2021 | Italy | Rome | Giuseppe Conte |
17th | November 15th-16th, 2022 | Indonesia | The Apurva Kempinski, Bali | Joko Widodo |
18th | September 9th-10th, 2023 | India | Pragati Maidan Convention Centre, New Delhi | Narendra Modi |
19th | 2024 [Date to be announced] | Brazil | – | Luiz Inácio Lula da Silva |
Foundation of G20: The G20 was established in 1999 in response to the financial crises of the late 1990s. It was created to bring together the world’s largest economies to discuss and coordinate policies related to international economic and financial issues. The G20 meets annually at a summit hosted by one of its member countries. In addition to the summit, G20 finance ministers and central bank governors also meet twice a year to discuss economic and financial issues.
Type of Organization in G20 :
The G20 is not a formal international organization like the United Nations, but rather a forum for cooperation and coordination among its members. The G20’s primary focus is on economic and financial issues, but it also addresses other global issues such as climate change, development, and health. The G20’s decision-making process is based on consensus, meaning that all members must agree on any decision or action taken by the group.
G20 Grouping Background:
Importance of G20 Grouping
Planet Earth and the lotus, India’s national flower, are combined in the country’s G20 emblem. The overall concept is “Vasudhaiva Kutumbakam,” which stands for the notion of “One Earth, One Family, One Future.
The G20 claims that it has “a high degree of legitimacy and influence over the administration of the global economy and financial system” because of its “economic weight and broad membership,” although this claim has been contested.
The exclusivity of the G20 was criticised in a 2011 report for the Danish Institute for International Studies, which specifically called out its underrepresentation of African nations and its practise of inviting observers from non-member states as a mere “concession at the margins” that does not give the organisation representational legitimacy.
US President Barack Obama mentioned the difficulties of appeasing everyone in relation to the membership issue: “Everyone strives to be a part of the smallest group that does so. Being the 21st largest country in the world, they want to be a part of the G21 and believe it would be extremely unfair to exclude them.” Others claimed that the exclusivity is not an insurmountable issue in 2011 and offered solutions for how it may become more inclusive.
List of G20 Summits: G20 Grouping is an important international grouping that discusses various important global geo-political and economic issues. G20 Summit 2023 is important for the UPSC Prelims Exam (International Organizations) and the UPSC Mains Exam (International Relations).
The upcoming 2024 Group of 20 (G20) Summit is scheduled to occur in Brazil from July 12 to July 14. This summit is anticipated to be a platform for discussions covering various crucial global topics, including finance, sustainable infrastructure, and climate change. As more details about the event become available, this post will be updated to provide the latest information. India is hosting the G20 summit in 2023. This G20 summit is being organized in New Delhi between 9th September to 10th September.
The Next G20 Summit will be held in year 2024 for which the Presidency Country is already decided. The G20 Summit 2024 will be held in Brazil from July 12 to July 14 0f year 2024.
The G20 is composed of 19 individual countries, along with the European Union. The member nations are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States. In 2024, Brazil holds the Presidency of the G20, which signifies its role in hosting and leading the summit discussions.
Read In Hindi: G20 Summit 2023
G20 Summit 2022 is being hosted by Indonesia.
G20 Summit 2023 is to be hosted by India.
G20 is a global grouping that aims to secure global financial stability.
India’s G20 Presidency Theme is “Vasudhaiva Kutumba-kam” or “One Earth One Family One Future”.
The Next G20 Summit will be held in year 2024 for which the Presidency Country is already decided. The G20 Summit 2024 will be held in Brazil from July 12 to July 14 0f year 2024.
The first G20 Summit was held in 2008 in Washington DC (USA). It set the scene for the most dramatic reform of global finance in over 60 years.
Bodhisattvas are people following Buddha's path to enlightenment, aiming to become Buddhas themselves. The term…
The Uttarakhand High Court administers the Uttarakhand Judicial Service Examinations to appoint suitable candidates for…
The official website of the High Court of Chhattisgarh, Bilaspur has made available the Chhattisgarh…
According to data presented in the Lok Sabha, the anticipated Muslim population in India for…
The Madhya Pradesh Public Service Commission (MPPSC) released the MPPSC Notification 2024 last year. However,…
The Odisha Public Service Commission (OPSC) has issued the Notification for the Odisha Civil Services…