About G20
The Group of Twenty (G20) is the premier forum for international economic cooperation. It plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
India holds the Presidency of the G20 from 1 December 2022 to 30 November 2023.
[ 1999 ]
Inception of G20
The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
[2008 ]
Elevation to Leader’s Level
The G20 was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”.
The G20 Summit is held annually, under the leadership of a rotating Presidency. The G20 initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia include trade, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.
G20 Members
The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States) and the European Union. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population
G20 PRESIDENCY
G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track while Sherpas lead the Sherpa Track after Finance Track.
G20 process from the Sherpa side is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. Finance Track is led by Finance Ministers and Central Bank Governors of the member countries. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organisations participate.
In addition, there are Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries.
The Group does not have a permanent secretariat. The Presidency is supported by the Troika – previous, current and incoming Presidency. During India’s Presidency, the troika will comprise Indonesia, India and Brazil, respectively.
THEME 2023
“India's G20 Presidency will work to promote this universal sense of one-ness. Hence our theme - 'One Earth, One Family, One Future'” – Prime Minister, , Narendra Modi
The theme of India’s G20 Presidency - “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” - is drawn from the ancient Sanskrit text of the Maha Upanishad.
LiFE
The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.
For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.
The 200+ events planned in the run up to the 2023 Summit will strengthen India’s agenda and the six thematic priorities of India’s G20 presidency.
India's G20 Priorities:
[1]. Green Development, Climate Finance & LiFE
India's focus on climate change, with a particular emphasis on climate finance and technology, as well as ensuring just energy transitions for developing countries.
Introduction of the LiFE movement, which promotes environmentally-conscious practices and is based on India's sustainable traditions.
[2] Accelerated, Inclusive & Resilient Growth
Focus on areas that have the potential to bring structural transformation, including supporting small and medium-sized enterprises in global trade, promoting labour rights and welfare, addressing the global skills gap, and building inclusive agricultural value chains and food systems.
[3] Accelerating Progress on SDGs
Recommitment to achieving the targets set out in the 2030 Agenda for Sustainable Development, with a particular focus on addressing the impact of the COVID-19 pandemic.
[4] Technological Transformation & Digital Public Infrastructure
Promotion of a human-centric approach to technology and increased knowledge-sharing in areas such as digital public infrastructure, financial inclusion, and tech-enabled development in sectors such as agriculture and education.
[ 5] Multilateral Institutions for the 21st century
Efforts to reform multilateralism and create a more accountable, inclusive, and representative international system that is fit for addressing 21st century challenges.
[6] Women-led Development
Emphasis on inclusive growth and development, with a focus on women empowerment and representation in order to boost socio-economic development and the achievement of SDGs.
