India G20 presidency 2023: What does it mean and what can we expect

G20 currently comprises 19 countries cutting across continents and the European Union, representing around 85% of the world's GDP

India began its year-long presidency of the Group of 20 (G20) this week, taking over from Indonesia at a time of geopolitical tumult and uncertainty over post-pandemic economic recovery.
 

WHAT IS THE G20?

Formed in the wake of the financial crisis that swept through Southeast Asian economies in the late 1990s as a forum for finance ministers and central bank governors, the G20 was upgraded in 2007 to include heads of state and governments.

During and after the 2008 global financial crisis, the G20's coordinated efforts helped tamp down panic and restore economic growth.

The grouping comprises 19 countries cutting across