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What is G20?, Establishment, Objectives, Members, Presidency of 2023
G20 Presidency: PM Modi calls for ‘One Earth, One Family, One Future. It is to be known that in the ongoing G20 conference in Bali, Indonesia, the President of Indonesia handed over the responsibility of the next chairmanship to the Indian Prime Minister Shri Narendra Modi.
The 2023 G20 Delhi Summit is the upcoming eighteenth meeting of the Group of Twenty (G20), scheduled to take place in 2023 at Pragati Maidan, New Delhi. India’s chairmanship will begin on 1 December 2022, which will go up to the fourth quarter of the summit 2023.
India’s Prime Minister Narendra Modi during his address at the G20 summit said that our agenda will be inclusive, ambitious, decisive, and action-oriented. Let us tell you that India will assume the presidency of the G20 group from December 1.
Prime Minister Narendra Modi was handed over the G20 chairmanship by Indonesian President Joko Widodo at the closing ceremony of the ongoing Bali Summit in Indonesia. “India will assume the presidency of the G-20 for the coming year.
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Prime Minister Modi said in a tweet that our agenda will be inclusive, ambitious, decisive, and action-oriented. We will work to realize all aspects of our vision of One Earth, One Family, One Future.”
India will assume the presidency of the G20 group on 1 December.
Taking the chairmanship, PM Modi said, ‘We will organize G20 meetings in different cities and states of our country. Our guests will get to experience the amazing cultural and geographical diversity, inclusive traditions, and cultural richness of India. Come participate in this unique celebration in India, the ‘mother of democracy, we will make G20 a catalyst of global change.”
He said, “Had fruitful discussions with various world leaders and highlighted India’s position on key issues. I thank the people of Indonesia, the Indonesian government, and the President for their hospitality.”
Amid the ongoing Russia-Ukraine conflict, according to a report in ET, India played a key role in crafting the G20 response to the Russia-Ukraine conflict, building a consensus between the views of the Global South and the West on the issue. helped.
Which countries are the major members of G20?
G20 members 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. Spain has also been invited as a permanent guest, according to the G-20 website.
What is G20 and what are its objectives
The G20 is a major strategic multilateral forum bringing together the world’s leading developed and emerging economies. The G20 has a strategic role in securing future global economic growth and prosperity. Together, G20 members represent more than 80 percent of the world GDP, 75 percent of international trade, and 60 percent of the world population.
When was the G20 established?
Started in 1999 as a meeting for finance ministers and central bank governors, the G20 has evolved into an annual summit involving heads of state and government. In addition, Sherpa meetings (in charge of negotiating and building consensus among leaders), working groups, and special events are also organized throughout the year.
Each year, the Presidency invites guest countries, which take full part in the G20 exercise. Many international and regional organizations also participate, giving the forum an even wider representation.
What is G20 in simple words?
The G20 is made up of most of the world’s largest economies, including both industrialized and developing nations; It accounts for about 80% of gross world product (GWP), 59–77% of international trade, two-thirds of the global population, and 60% of the world’s land area.
What is G20 and what is its purpose?
The Group of Twenty (G20) of the world’s largest economies, formed in 1999, was conceived as a bloc that would bring together the most important industrialized and developing economies to discuss international economic and financial stability.
What is the economic importance of G20 for India? as India will preside over
On the final day of the concluding G20 summit in Bali, Indonesia, Indian Prime Minister Narendra Modi officially assumed the chairmanship of the grouping and promised to make it “a transformative catalyst for a globalized world” at a time when the world is coming together as a global -combating political problems, the global economic downturn, rising worldwide food and energy prices and the long-term side effects of the growing pandemic”.
Let us tell you that at the concluding session on the last day of the G20 summit in Bali, Indonesia, Narendra Modi officially took over the chairmanship of the grouping. India’s official chairmanship of the G20 will begin in December and India will host the group’s next annual meeting in September 2023.