India’s perspective, ahead of the G20 Summit

Subject: IR

Section: Grouping

Context: India is going to host the G20 summit from 9th-10th of September.

More about India’s approach:

India’s innovative approach of hosting over 200 G20 meetings across 50 locations, reaching cities and Tier-2 towns, has set a new standard in size and scale for G20 Presidencies, generating widespread awareness.
India is discussing an ambitious set of proposals across various sectors like digital public infrastructure, gender, development, multilateral reforms, climate change, health and future pandemics, use of technology, etc
India has taken up the mantle of leading the developing and underdeveloped world during its G20 Presidency.
India had written a letter to the G20 nations in which he proposed that the African Union be given full, permanent membership of the bloc at the upcoming summit in New Delhi. Countries like Germany, Brazil, and Canada have also expressed their support for African Union membership to the G20.With the negotiations among sherpas held recently, the African Union (AU) is set to join the G-20

More about India Presidency:

India assumed the presidency of G20 from 1st of December 2022.
The G20 Presidency also marked 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.
Guest countries during India’s presidency will include Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the UAE
The theme of the G20 summit is -‘Vasudhaiva Kutumbakam: One Earth, One Family, and One Future’.
The G20 logo is created with the four colors of India’s national flag, comprises earth sitting atop a lotus.
The seven petals in the logo signify the seven seas and the coming together of seven continents at G20 India 2023.

What is G20 Summit:

G-20 was a group of finance ministers and central bank governors from 19 individual countries and the European Union.
It was established in 1999 and was elevated to a forum of Heads of Government in 2008 to effectively respond to the global financial crisis of 2008.
G-20 is a forum, not a legislative body and its agreements and decisions have no legal impact, but they do influence countries’ policies and global cooperation..
The G20 membership accounts for
- Two-thirds of the world’s population,
- 85% of global gross domestic product,
- 80% of global investment
- 75% of global trade.
- Contribute 79% of the world carbon emissions
G20 does not have any permanent secretariat or headquarters.
The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”.

How G20 works:

Since the G20 has no permanent secretariat.Theagenda and work are coordinated by representatives of the G20 countries, known as ‘Sherpas’.
The presidency of the G20 rotates every year among members, and the country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’.
Troika ensures continuity of the G20 agenda.
During India’s presidency, India, Indonesia and Brazil will form the troika.

Multilateral conferences, events, and summits hosted by India: