G20's declining share in the world, amid India's growing influence

As the country prepares to host the summit of twenty nations next year in September 2023, it also has to tackle rising concerns of climate change and calls for the expansion of the group from other co

On Thursday, India will assume the G20 presidency. As the country prepares to host the summit of 20 nations in September 2023, it also has to tackle rising concerns of climate change and calls from other countries for the expansion of the group.

In 1999, when the Group of 20 or G20 was formed, the countries accounted for 87.6 per cent of the global output. In 2021, data from World Bank shows, their share declined to 85.6 per cent (chart 1). Similarly, in merchandise trade, the share of G20 countries declined from 80.2 to 76.5 per cent.

However, analysis shows