 "G20")
G20 is a group of 19 countries and the EU, and it came into existence in the year 1999 when the finance ministers and central bank Governors of member countries came together to discuss international economic and financial issues.
G20 member nations constitute two-thirds of the world’s population and 75 per cent of its trade, and it doesn't stop here, it even holds 85 per cent of the global GDP. After the 2007 crisis, the G20 was elevated to the level of Heads of State/Government and was named the "premier forum for international economic cooperation."
India's G20 Presidency
India received the G20 presidency on December 1, 2023, taking over from Indonesia. India is the largest democracy in the world and currently the fastest-growing economy in the world. India's G20 presidency will play a key role in building upon the significant milestones achieved by the previous 17 presidencies.
The Summit is held every year and it rotates its residents every year. In 2023, India will hold the presidency. The G20 group does not have any permanent secretariat, and the summit is supported by the previous, current and future presidency holders, called the Troika. In 2023, the Troika is Indonesia, India and Brazil.
The G20 president hosts the summit and steers the G20 agenda for one year. This consists of two tracks; Finance and Sherpa track. The Finance track was led by Finance ministers and Central Bank Governors, while the Sherpa track was led by the Sherpas that take place after the Finance Track.
In addition to this, there are engagement groups as well, which bring civil societies, parliamentarians, think tanks, businesses, researchers, youth, labour and women in the G20 member countries.
Who are the invitees or guests of the G20 Summit?
Here's the guest list for the G20 summit:
- Bangladesh
- Egypt
- Mauritius
- Netherlands
- Nigeria
- Oman
- Singapore
- Spain
- UAE
G20 Summit Preparation
The G20 summit will be held on September 9 to 10 at the state-of-the-art convention complex, which was recently inaugurated at Pragati Maidan.
While preparing to welcome the world leaders, a total of 35 hotels have been booked by different missions and MEA for guests and dignitaries of several countries who will take part in the summit. The top dignitaries of the world will reportedly be hosted by the five-star hotels, including the Taj Mahal, Shangri-La, Maurya Sheraton, Taj Palace, Le Meridien, Imperial, Oberoi, and Leela.
The hotels are revamping their food offering together with service standards, and even many hospital chains are making some special hiring.
When will the G20 summit take place?
The G20 meeting will take place on September 9-10, 2023.
Where will the G20 meeting be held?
The G20 meeting will be held at the newly inaugurated state-of-the-art convention complex at Pragati Maidan, New Delhi.
What is the theme of G20 Summit 2023?
The theme for the G20 Summit 2023 is "Vasudhaiva Kutumbakam, which translates to "One Earth, One Family, One Future."
