Agency, New Delhi. On December 1, 2022, India will take over for Indonesia as G20 president. After then, India will host the G20 Summit for the first time in 2023. India will serve as the G20’s chair from December 1 through November 30, 2023. Over 200 G20 meetings are anticipated to be held there during this presidency.The G20 Heads of State and Government Summit is slated to take place in New Delhi on September 9 and 10, 2023, according to the Ministry of External Affairs.
These nations are G20 members.
The G20, often known as the Group of Twenty, is an intergovernmental organisation made up of the largest industrialised and emerging economies in the world. There are 19 nations in it. Argentina, Australia, Brazil, Canada, China, France, Germany, Greece, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union are a few of these nations (EU). .
The G20 is a significant forum for global economic cooperation because its members collectively represent 85% of the world’s gross domestic product (GDP), 75% of its commerce, and 2/3 of its population.
These three nations will create the Troika.
The G20 Troika currently includes India. Along with Indonesia and Italy, India is one of the three nations that make up the troika. These three nations are the G20’s current, previous, and upcoming presidents.
India, Indonesia, and Brazil will make up the troika during its chairmanship. Three rising economies and developing nations will be represented in the troika for the first time, giving them a stronger voice.
There are presently 8 workstreams in the G20.
The G20 now has 8 workstreams, according to the Indian Ministry of External Affairs. The Finance Track and the Sherpa Track with (Global Macroeconomic Policy, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms).
The G20 Presidents have a custom of inviting select guest nations and international organisations (IOs) to G20 meetings and summits in addition to the G20 members.
The G20 brings together the European Union and the top 20 economies in the world. 80 percent of the world’s GDP comes from its member nations. They comprise 60% of the world’s population and 75% of the world’s trade, respectively.
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More than 200 meetings will take place all throughout India under India’s G20 presidency.
At a G20 conference later this year, India will serve as chair. There will be around 200 G20 meetings across the nation from December 2022 to November 30th, 2023, with India serving as the chairman. The G20 summit, which will be presided over by India, has been the subject of announcements from the Ministry of External Affairs. India will assume the G20 chairmanship on December 1st, 2022. The G20 Heads of State and Government Summit is slated to take place in New Delhi on September 9 and 10, 2023, according to the Ministry of External Affairs.
It is well known that the G20 is a grouping of both industrialised and developing nations. Argentina, Australia, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Hong Kong, Italy, Japan, Republic of Korea, Mexico, Russian, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and European Union are its members. In total, the G20 has 20 members, including the European Union and 19 other nations. The G20 accounts for two-thirds of the world’s population, 75% of global trade, and 85% of global GDP.
The G20 Troika currently includes India as a member. It also has Italy and Indonesia in addition to India. India will take over as G20 president in 2018, while Italy served as the organization’s president in 2017. India, Indonesia, and Brazil will make up the troika during its chairmanship. For the first time, the troika will consist of three growing economies and developing nations. which will empower them to speak out loudly.
International organisations and visiting nations are also invited to conferences and meetings in addition to G20 members. Under its presidency, India will extend invitations to Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the United Arab Emirates.