G20 Summit 2023 in India | Schedule, G20 Member Countries

G20 Summit 2023: The G-20, also known as the Group of Twenty, is a gathering of 19 countries and the European Union formed in 1999. Its annual summit brings together world leaders to discuss ways of improving the global economy. The member countries of this group include Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States of America.

The G20 organization comprises of the European Union and 19 other countries that account for 85% of the world economy, 75% of world trade, and 66% of the world’s population. It aims to tackle crucial global economic issues such as promoting international financial stability, decreasing greenhouse gas emissions, and achieving sustainable development.

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Why G-20 was formed?

Originally, the G-20 was a coalition of central bank governors and finance ministers. Its inaugural meeting was held in Berlin, Germany, in December 1999. In response to the global economic crisis in 2008, it was reorganized to include top leaders and their representatives. It was agreed that G-20 leaders would hold an annual summit.

G20 Summit 2023 India

In 2023, the Group of Twenty (G20) will hold its eighteenth summit at New Delhi’s Pragati Maidan, and India will hold the presidency from December 1, 2022, until the third quarter of 2023. To assume this significant responsibility, the Indian government has been enhancing its intellectual, administrative, infrastructural, and social capital. It has also been developing a list of agenda items for the coming year through thoughtful collaboration with key stakeholders, such as corporations, think tanks, universities, civil society, labor unions, and the scientific community. During a small ceremony at the end of the Bali summit, the G20 Presidency gavel was passed from Indonesian President Joko Widodo to Indian Prime Minister Narendra Modi.

G20 Summit 2023 India: Theme

India has chosen “Vasudhaiva Kutumbakam,” a Sanskrit expression that emphasizes the interconnectedness of various forms of life, including humans, animals, plants, and microorganisms, and their significance both on Earth and in the larger cosmos as the theme for its G20 year. It also highlights “Lifestyle for Environment” (LiFE), demonstrating how environmentally sound decisions made at the local, state, and federal levels can lead to more informed, transformative action.

G-20 Summit Importance to India

The annual summit of top leaders from various countries is the most significant aspect of the G20 organization, with the current President being Indian Prime Minister Narendra Modi until 30th December 2023. India faces several challenges in various areas such as digital infrastructure, disaster risk reduction, global supply chain stabilization, food security, counter-terrorism, energy security, women’s empowerment, financial literacy, tourism, culture, development cooperation, pandemic prevention, preparedness, and collective action against financial crimes.

Who is organising the G20 Summit 2023 India?

According to the Ministry of External Affairs (MEA), India is hosting over 200 events in 50 cities throughout 2023, which will include government and civil society members. Additionally, the nodal ministries for health, finance, agriculture, energy, and trade from the G20 nations will participate in 190 of these meetings. It is expected that more than 100,000 people will attend these events throughout the year, leading up to the G20 Summit in September 2023. The summit is set to host around thirty leaders of state and government from the G20 countries as well as other invited nations, with a major conference planned to take place in New Delhi.

G20 Summit 2023 | Important Points

• The G20 is comprised of the majority of the world’s greatest economies, including industrialized and developing countries.
• The G20 represents two-thirds of the world’s population, 80% of the gross world product (GWP), 75% of international trade, and 60% of the planet’s surface area.
• Established in 1999 in response to global economic problems, the G20 has held summits at least once a year since 2008.
• The summits are attended by the heads of state or government, finance minister, foreign minister, and other top officials from each member, with the European Union represented by the European Commission and the European Central Bank.
• The summits are open to participation from other nations, international organizations, and nonprofit organizations, some of which are invited on an ongoing basis.
• During its summit in 2009, the G20 proclaimed itself the principal forum for global economic and financial cooperation.
• The G20’s status has grown over the past ten years and it is considered to have significant global influence.
• Critics claim that the G20 has a small membership, little enforcement authority, and allegedly undermines established international organizations.
• Protests against G20 summits are common, especially from anti-globalization organizations.

G20 Member Countries List

The G20 group comprises 20 member countries, they are:

• Argentina
• Australia
• Brazil
• Canada
• China
• France
• Germany
• India
• Indonesia
• Italy
• South Korea
• Japan
• Mexico
• Russia
• Saudi Arabia
• South Africa
• Turkey
• United Kingdom
• United States
• The European Union

The G20 summits are attended by the leaders of 19 nations and the European Union.

The G20 ministerial meetings are attended by the finance ministers and central bank governors of 19 nations and the European Union. The G20 invites various organizations as guests to its meetings, including:

• Spain
• The United Nations
• The World Bank
• The African Union
• ASEAN (Association of Southeast Asian Nations)

G20 Summit 2023 Schedule in India

We hope that you have gained valuable insights about the G20 Summit 2023 from this article. Please consider following Freshersnow.com for more updates on current events.