G20 summit is organized once a year. It is considered to be the world’s largest global platform. India is presiding over the G-20 for the first time. Which will be the 18th meeting, the national heads of all the member countries will meet at Pragati Maidan in Delhi. This conference is being organized in the capital Delhi on 9 and 10 September. Special arrangements have been made for VVIPs. During this period, strict security arrangements have also been made.
G20 Summit What India showed the world
The G20 Summit 2023 convened in Delhi, India, brought together leaders from the world’s largest economies to address pressing global challenges. Against the backdrop of Delhi’s rich cultural heritage and vibrant atmosphere, discussions centered on a wide range of issues, from climate change and economic stability to global health and technology governance. Leaders engaged in constructive dialogues and collaborative efforts to chart a course toward a more equitable and sustainable future for all. The summit underscored India’s commitment to multilateralism and its role as a key player in shaping the global agenda.
What is the work of G-20?
G-20 means GROUP-20. It is a group of 20 powerful countries of the world and the European Union. It was established in 1999. This group controls 85 percent of the world’s economy and 75 percent of global trade. The basic agenda of G-20 is economic cooperation and financial stability. In this, discussion takes place in a parallel manner at two levels. The first level is called the financial track, in which the Finance Minister handles the negotiations. And the Governor of the Central Bank also participates in this meeting. The second level is called Sherpa Track. Governments of different countries appoint their own Sherpas in Sherpa Track. The Government of India has appointed Amitabh Kant as its Sherpa. It plays an important role in determining and strengthening global structure and governance on all major international issues.
Objectives of G-20
- Promoting financial regulations that reduce risks and prevent future financial crises,
- Policy coordination among its members to achieve global economic stability and sustainable development,
- Creating a new international financial structure.
It began as a meeting of finance ministers and central bank governors after the Asian financial crisis in 1999. The first summit of G-20 leaders was held in the year 2008. The conference focuses on seven measures to support global economic growth with an emphasis on job creation and free trade. G-20 was formed with the objective of cooperation in international policy among the member countries, improvement of international financial structure, measures to avert the global financial crisis, promotion of economic development and sustainable development of the member countries. It is a major forum for international cooperation on critically important aspects of the international economic and financial agenda.
Which countries are included in G-20?
- India
- South Africa
- The Turks
- United Kingdom
- America
- European Union
- Japan
- Republic of Korea
- Mexico
- Russia
- Saudi Arabia
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- Indonesia
- Italy
When and where did the G20 summit take place?
| G20 Host Location | Year |
|---|---|
| USA, Washington, D.C | 14–15 November 2008 |
| United Kingdom, London | 2 April 2009 |
| Canada, Toronto | 26–27 June 2010 |
| South Korea, Seoul | 11–12 November 2010 |
| France, Cannes | 3–4 November 2011 |
| San Jose del Cabo, Mexico | 18–19 June 2012 |
| Russia, Strelna | 5–6 September 2013 |
| Australia, Brisbane | 15–16 November 2014 |
| Türkiye antalya | 15–16 November 2015 |
| China, Hangzhou | 4–5 September 2016 |
| India, New Delhi | 9 – 10 September 2023 |
What is the G20 and what was achieved at the Delhi summit?
The two-day long G-20 meeting in India has ended. With this, the command has been handed over to Brazil. A big decision has been taken regarding crypto currency in the G-20 summit. Global leaders agreed that there is a need for global legislation to monitor the increasingly emerging risks in the crypto eco-system. Prime Minister Narendra Modi said during the summit that crypto currency is a new subject for social order, monetary and financial stability and demanded a global standard to regulate it.
Why does G-20 summit happen every year?
The purpose of this summit is to convene a gathering of the world’s leading economic nations to discuss pressing issues including the global economy, finance, business, investment and climate change among the member states. The 18th summit in 24 years since its formation in 2008 in New Delhi. Its first conference was held on 14-15 November in Washington, USA, the second conference was held on 2 April in 2009. This time the G-20 meeting was held in the national capital Delhi between 8 to 10 September. This was the first international conference of this kind to be organized in India. It was established in the year 2008 and its first meeting was held in America.