The g20 summit

The G20 was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.

The Group of Twenty (G20) is the premier forum for international economic cooperation. It plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.

The Group of Twenty comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, The Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, The United Kingdom, The United States, and the European Union. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

The G20 Summit is held annually, under the leadership of a rotating Presidency. The G20 initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia including trade, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.

India holds the Presidency of the G20 from 1 December 2022 to 30 November 2023. The theme of India's G20 Presidency is - "Vasudhaiva Kutumbakam" or "One Earth . One Family . One Future," which is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe.

The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable, and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.

For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive, and developed society, distinguished by a human-centric approach at its core.

The host cities in India are the following:

Srinagar, Jammu & Kashmir

Amritsar, Punjab

Chandigarh, Punjab & Haryana

Rishikesh, Uttarakhand

Lucknow, Uttar Pradesh

Varanasi, Uttar Pradesh

Jaipur, Rajasthan

Jodhpur, Rajasthan

Udaipur, Rajasthan

Siliguri, West Bengal

Guwahati, Assam

Khajuraho, Madhya Pradesh

Indore, Madhya Pradesh

Rann of Kutch, Gujarat

Gandhinagar, Gujarat

Kevadia, Gujarat

Kolkata, West Bengal

Bhubaneshwar, Odisha

Mumbai, Maharashtra

Pune, Maharashtra

Visakhapatnam, Andhra Pradesh

Hyderabad, Telangana

Goa, Goa

Hampi, Karnataka

Bengaluru, Karnataka

Chennai, Tamilnadu

Mahabalipuram, Tamilnadu

Kochi, Kerala

Kumarakom, Kerala

Thiruvananthapuram, Kerala

Along with the New Delhi Leadership Summit on September 9th and 10th 2023. The 18th G20 Heads of State and Government Summit in New Delhi will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies. A G20 Leaders’ Declaration will be adopted at the conclusion of the New Delhi Summit, stating Leaders’ commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings. 

The G20 Leaders are:

Argentia - President - Alberto Fernández

Australia - Prime Minister - Anthony Albanese

Brazil - President - Luiz Inácio Lula da Silva

Canada - Prime Minister - Justin Pierre James Trudeau

China - President - Xi Jinping

France President - Emmanuel Macron

Germany - Chancellor - Olaf Scholz

India - Prime Minister - Narendra Modi

Indonesia - President - Joko Widodo

Italy - Prime Minister - Giorgia Meloni

Japan - Prime Minster - Fumio Kishida

Mexico - President - Andrés Manuel López Obrador 

South Korea - President - Yoon Suk-Yeol

Russia - President - Vladimir Putin

Saudi Arabia - King - Salman bin Abdulaziz Al Saud

South Africa - President - Cyril Ramaphosa

Turkey - President - Recep Tayyip Erdogan

United Kingdom - Prime Minister - Rishi Sunak

United States of America - President - Joseph R. Biden Jr.

Europian Union - President of the Europian Council - Charles Michel

Europian Union - President of the Europian Commission -  Ursula von der Leyen

The Invitees are:

Bangladesh - Prime Minister - Sheikh Hasina

Egypt - President - Abdel Fattah Saeed Hussain Khalil El-Sisi

Mauritius - Prime Minister - Pravind Kumar Jugnauth

Netherlands - Prime Minister - Mark Rutte

 Nigeria - President - Muhamadu Buhari

Oman - Head of State - Sultan Haitham bin Tarik

Singapore - Prime Minister - Lee Hsien Loong

Spain - Prime Minister - Pedro Sánchez

United Arab Emirates - President - Sheikh Mohamed bin Zayed Al Nahyan

How does the G20 Work?

• The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track while Sherpas lead the Sherpa Track.

• The G20 process from the Sherpa side is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. Finance Track is led by Finance Ministers and Central Bank Governors of the member countries. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organizations participate.

• The Finance Track is mainly led by the Ministry of Finance. These working groups meet regularly throughout the term of each Presidency. The Sherpas oversee negotiations over the course of the year, discussing agenda items for the Summit and coordinating the substantive work of the G20.

• In addition, there are Engagement Groups that bring together civil societies, parliamentarians, think tanks, women, youth, labor, businesses, and researchers of the G20 countries.

• The Group does not have a permanent secretariat. The Presidency is supported by the Troika - previous, current, and incoming Presidencies. During India’s Presidency, the Troika will comprise Indonesia, India, and Brazil, respectively.

What are India's G20 Priorities?

• Green Development, Climate Finance & Lifestyle for Environment (LiFE)

• Accelerated, Inclusive & Resilient Growth

• Accelerating progress on Sustainable Development Goals (SDGs)

• Technological Transformation & Digital Public Infrastructure

• Multilateral Institutions for the 21st Century

• Women-led development

It is important for everyone to know the intricacies of such crucial summits in history because it along with many others can bring a massive change and impact to lives around the world.

Information Curated from https://www.india.gov.in/ & https://www.g20.org/