India’s first-ever G20 presidency marks a significant milestone in its global leadership journey. The annual G20 Summit assembles leaders from the world’s top 20 economies, offering a platform to discuss international economic and financial issues, harmonize policies, and confront shared challenges. The 18th Heads of State and Government Summit of the G20 will be held on September 9 & 10, 2023, in New Delhi, India.
India is focusing on various issues like inclusive growth, digital innovation, climate resilience, and equitable global health access. By leveraging its presidency, India is fostering collaborative solutions that not only benefit its own population but contribute to the broader global well-being, reinforcing its spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’. Under India’s presidency, the forum will have the theme, ‘One Earth, One Family, One Future’.
Image Credit: PIB
The G20, also known as the Group of Twenty, is an intergovernmental forum that brings together the world’s most significant developed and developing economies. It consists of 19 individual countries, including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, and the USA, along with the European Union (EU). Together, these nations collectively account for 85% of global GDP, conduct 75% of international trade, and are home to approximately two-thirds of the world’s population. This positions the G20 as the primary platform for international cooperation on economic matters.
India has assumed the Presidency of the G20 for one year from 01 December 2022 to 30 November 2023. India’s current role within the G20 involves being part of the G20 Troika, which includes the current, previous, and upcoming G20 Presidencies. During India’s presidency, the Troika will consist of India, Indonesia, and Brazil. Notably, this marks the first time that the troika will comprise three developing countries and emerging economies, affording them greater influence and representation within the G20.
As per G20 tradition, the G20 Presidency extends invitations to the guest countries and International Organizations (IOs) to participate in G20 meetings and the Summit. During its current G20 Presidency, India sent invitations to the following Guest countries: Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE. In addition, India will also invite Guest IOs, including the International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure (CDRI), and the Asian Development Bank (ADB).
These invitations underscore the G20’s commitment to inclusivity and the importance of engaging a diverse set of voices and organizations in addressing global challenges and advancing international cooperation.
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India’s stewardship of the G20 has marked a significant milestone in its global leadership journey. As the host nation, India has made notable strides in fostering international cooperation and addressing pressing global challenges. Its inclusive approach, evident in the invitation of guest countries and international organizations, reflects a commitment to diverse perspectives and innovative solutions.
Furthermore, India’s role in the G20 Troika alongside Indonesia and Brazil, comprising three developing nations, has amplified its voice and influence within the forum. India’s emphasis on critical issues, such as sustainable finance, climate resilience, and equitable global health access, underscores its dedication to collective well-being. India’s G20 Presidency has exemplified its commitment to global cooperation, inclusivity, and driving positive change on the world stage.
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