g20 short essay in english

Essay on G20 in English (150, 200, 250, 500 Words)

Here, we’ve presented essays on “G20” in 150, 200, 250 & 500 word samples. All the essays will be helpful for students of all classes i.e. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 & class 12.

Table of Contents

Essay on G20 in 150 Words

Introduction.

The G20, short for Group of Twenty, is an international forum consisting of 19 countries and the European Union. It was established in 1999 in response to the financial crises of the late 1990s. The G20 aims to promote international financial stability and sustainable economic growth through cooperation among its member countries.

Importance of G20

The G20 plays a crucial role in global economic governance. Its members represent around 85% of the global GDP and two-thirds of the world’s population. By bringing together major economies from different regions, the G20 facilitates dialogue and coordination on key economic issues such as trade, investment, and financial regulation. Additionally, the G20 provides a platform for addressing pressing global challenges, including climate change, poverty, and inequality.

Achievements and Challenges

Over the years, the G20 has achieved significant milestones, such as coordinating responses to the 2008 financial crisis and promoting sustainable development goals. However, the forum also faces challenges, including diverging national interests and geopolitical tensions among its members. Ensuring effective implementation of its decisions and maintaining consensus on complex issues remain ongoing tasks for the G20.

In conclusion, the G20 plays a vital role in shaping global economic policies and addressing common challenges. Despite facing various obstacles, the forum continues to serve as a platform for fostering cooperation and dialogue among the world’s major economies. As the global landscape evolves, the G20 must adapt and strengthen its efforts to promote inclusive and sustainable development for all.

G20 Essay in 200 Words

The G20, or Group of Twenty, is an international forum comprising 19 individual countries and the European Union. It was formed in 1999 to address economic issues after the financial crises of the late 1990s. The primary aim of the G20 is to foster cooperation among its members to ensure global financial stability and sustainable economic growth.

Role in Global Economy

The G20 holds significant importance in the global economy, representing approximately 85% of the global GDP and around two-thirds of the world’s population. It serves as a platform for major economies to discuss and coordinate policies related to trade, investment, and financial regulation. Moreover, the G20 plays a crucial role in addressing pressing global challenges like climate change, poverty, and inequality through collaborative efforts.

The G20 has achieved notable milestones, including coordinating responses to the 2008 financial crisis and promoting the United Nations Sustainable Development Goals. However, challenges persist, such as diverging national interests and geopolitical tensions among member states. Ensuring effective implementation of decisions and maintaining consensus on complex issues remain ongoing challenges for the G20.

Addressing Economic Disparities

One of the key focuses of the G20 is addressing economic disparities among nations. By promoting inclusive growth and development, the forum aims to reduce poverty and enhance economic opportunities for all member countries.

In conclusion, the G20 plays a critical role in shaping global economic policies and addressing common challenges. Despite facing various obstacles, the forum continues to serve as a vital platform for fostering cooperation and dialogue among the world’s major economies. Moving forward, the G20 must adapt to emerging trends and strengthen its efforts to promote sustainable development and prosperity worldwide.

Essay Writing on G20 in 250 Words

The G20, established in 1999 in response to financial crises, is a premier international forum comprising 19 countries and the European Union. It represents over 85% of the global GDP and two-thirds of the world’s population. The primary objective of the G20 is to promote global financial stability and sustainable economic growth through collaboration and policy coordination among its members.

Evolution and Expansion

Initially convened as a meeting of finance ministers and central bank governors, the G20 expanded to include leaders’ summits in 2008 amidst the global financial crisis. Since then, it has become the premier forum for international economic cooperation, convening annual summits where leaders discuss key economic issues and policy responses.

Key Functions

The G20 serves several crucial functions in the global economy. It facilitates dialogue and cooperation on matters such as trade, investment, and financial regulation. Additionally, the forum addresses pressing global challenges, including climate change and inequality, through collective action and policy coordination.

Economic Impact

The decisions and agreements reached within the G20 have significant economic ramifications. For instance, following the 2008 financial crisis, G20 members committed to substantial fiscal stimulus packages and regulatory reforms, which helped stabilize the global economy and restore growth. Moreover, initiatives such as the G20 Action Plan on the 2030 Agenda for Sustainable Development demonstrate the forum’s commitment to addressing long-term development challenges.

Challenges and Criticisms

Despite its achievements, the G20 faces challenges and criticisms. Diverging national interests, geopolitical tensions, and the exclusion of smaller economies from decision-making processes have been subjects of contention. Ensuring equitable representation and effective implementation of decisions remain ongoing challenges for the forum.

In conclusion, the G20 plays a pivotal role in global economic governance, representing a diverse array of economies and stakeholders. Through cooperation and dialogue, it has contributed to stabilizing the global economy, addressing pressing challenges, and advancing sustainable development goals. As the world evolves, the G20 must continue to adapt and strengthen its efforts to promote inclusive and sustainable growth for all.

Writing an Essay on G20 in 500 Words

The Group of Twenty (G20), established in 1999, emerged as a crucial platform for international economic cooperation in response to the financial crises of the late 1990s. Comprising 19 individual countries and the European Union, the G20 represents a significant portion of the global economy, accounting for over 85% of global GDP and approximately two-thirds of the world’s population. Its primary mandate is to promote financial stability and sustainable economic growth through collaboration among its members.

Historical Context and Evolution

Initially, the G20 functioned as a forum for finance ministers and central bank governors to discuss policy responses to economic challenges. However, its role expanded significantly in 2008 when leaders’ summits were convened in response to the global financial crisis. Since then, the G20 has become the premier platform for international economic coordination, convening annual summits where leaders discuss key economic issues and policy responses.

Key Objectives and Functions

The G20 serves several critical functions in the global economy. Firstly, it facilitates dialogue and cooperation on a wide range of economic issues, including trade, investment, and financial regulation. Secondly, the forum addresses pressing global challenges such as climate change, poverty, and inequality through collective action and policy coordination. Moreover, the G20 plays a crucial role in coordinating responses to economic crises and ensuring financial stability in the global economy.

Economic Impact and Achievements

The decisions and agreements reached within the G20 have had significant economic ramifications. For example, following the 2008 financial crisis, G20 members committed to substantial fiscal stimulus packages and regulatory reforms, which helped stabilize the global economy and restore growth. Additionally, initiatives such as the G20 Action Plan on the 2030 Agenda for Sustainable Development demonstrate the forum’s commitment to addressing long-term development challenges.

Representation and Inclusivity

While the G20 includes major economies from diverse regions, there are ongoing discussions about its representativeness and inclusivity. Smaller economies and developing countries often feel marginalized in decision-making processes, raising questions about the forum’s legitimacy and effectiveness. Efforts to address these concerns and enhance the participation of all stakeholders are essential for ensuring the G20’s credibility and relevance.

Despite its achievements, the G20 faces several challenges and criticisms. Diverging national interests, geopolitical tensions and the complexity of global issues often hinder consensus-building and effective decision-making. Moreover, concerns about accountability, transparency, and the influence of special interest groups within the G20 have been subjects of criticism.

Future Outlook and Conclusion

In conclusion, the G20 remains a vital forum for international economic cooperation and governance. As the global landscape continues to evolve, the G20 must adapt and strengthen its efforts to address emerging challenges and promote inclusive and sustainable growth. Enhancing representation, fostering dialogue, and ensuring effective implementation of decisions are essential for maximizing the G20’s impact and relevance in the years to come.

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Essay on G20 Summit in 100, 200, 300, 500 Words

Essay on g20 summit.

The essay on the G20 Summit is written in simple English and easy words for children and students. English essay on G20 Summit tells about G20 when it was established, and why it is special for us. Students are often asked to write essays on the G20 Summit in their schools and colleges. If you are also looking for the same, then we have given an essay on the G20 Summit in 100 – words, 200 – words, 300 – words, and 500 – words.

The G20 Summit 2023 was held in New Delhi, India. All countrymen and students should understand how important it is for our nation. Below we have given various essays on the G20 Summit, knowing which will increase your knowledge.

Short & Long Essay on G20 Summit

Essay – 100 words.

The G20 summit is an annual gathering of leaders of the European Union and the world’s 19 largest economies. The G20 was established in 1999 and serves as an important forum for global economic cooperation and shaping. During the G20 summit, the main leaders of all the countries discussed various issues including trade, economic growth, geopolitical stability, and climate change. These important forums have a significant impact on global economic and political development.

Ministers and important officials participate in the activities of the summit. When this summit ends, all the leaders of the G20 countries issue a statement to show that they are all committed to the important topics that they talked about and agreed upon during their meetings throughout the year.

Essay – 200 Words

G20 is an international forum also known as The Group of Twenty and many countries participate in it. The G20 summit discusses key points regarding the financial and economic agenda around the world. Also, one of the main objectives of this conference is to bring together all the economies that are emerging along with the advanced economies of the world.

This G20 summit i.e. Group of Twenty was established in the year 1999. This was done in the wake of the Asian financial crisis. G20 is basically an important forum that is attended by the Ministers or Finance Ministers of many countries. Hence the country participates in the G20 summit to discuss financial and economic issues.

This conference is organized every year under the leadership of the President and every year it is represented by different countries. Earlier G20 included 19 countries but by 2023 this group has 21 members and its member countries are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, and Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union, and the African Union. When it comes to GDP, 85% of world GDP is represented by G20 members and more than 75% of global trade is done by G20 members.

Essay – 300 Words

The G20 Summit is an important international gathering where central bank governors and leaders of the world’s 20 most influential economies come together to discuss matters of global economic importance. It was established in 1999. The G20 summit was conceived to facilitate discussion on policy issues related to development and international economic cooperation.

G20 member states collectively have significant economic power, representing the majority of the global population and 85% of the world’s gross domestic product (GDP).

Any country with a rapidly growing economy, and substantial population, and to protect its interests can also take advantage of this platform to address global challenges like trade, climate change, and economic stability.

Thus, this summit is not just a gathering of nations, but a gathering of economic giants that aims to promote cooperation on the scale of global economic influence.

G20 Members

Earlier G20 included 19 countries but by 2023 this group has 21 members: its member countries are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union, and the African Union.

Importance of G20 Summit

In this G20 summit, top leaders of all the countries exchange views and deliberate on policy solutions. Additionally, efforts to address various global challenges are discussed, including economic issues such as trade, recession, and investment, as well as social concerns such as inequality, poverty, and climate change.

The G20 summit is important because G20 members account for approximately 85% of the world’s gross economic output (GDP) and more than 75% of worldwide trade, as well as approximately two-thirds of the global population, making the G20 the center of international economic cooperation. Creates an important platform for.

Essay – 500 Words

Introduction

The G20 or Group of Twenty is a major forum for international cooperation that deliberates on the most important aspects of the international economic and financial agenda. These are the major advanced and emerging economies of the world which include Argentina, Australia, Brazil, Canada, China, EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK. And the USA is included. These countries together represent approximately 90% of global GDP, 80% of global trade, and two-thirds of the world’s population.

Objectives of G20

a) Promote financial regulations that reduce risks and prevent future financial crises.

b) To establish policy consistency, coordination, and sustainable development among its members to achieve global economic goals.

c) And building a new international financial architecture.

Origin and Development

The G20 was formed in response to a number of financial challenges. In the 1990s, some of the emerging economies were not adequately represented in the global economic discussion. So in December 1999, finance ministers and central bank governors of emerging countries of systemic importance met for the first time in Berlin, Germany, and held an informal dialogue on key issues for global economic stability. Since then, central bank governors and finance ministers have met annually.

Organizational Structure of G20

The formation operates without a permanent secretariat or staff, with its chair rotating annually. Their chairperson is elected from among the members and from a different regional group of countries. Their Chairman is part of a three-member management group that rotates past, present, and future.

G20 Leaders Summit

The first G20 summit was hosted by the US. The President developed a coordinated response in Washington in November 2008. In the first summit, all the leaders discussed the causes of the global economic and financial crisis and agreed to implement an action plan around it which had three main objectives, namely, (1) restoring global growth (2) international financial system strengthening and (3) reform of international financial institutions.

India and G-20

India’s participation in the G20 as a leader stems from the realization that developing economies have a significant stake in the stability of the international economy and financial system. India has been actively involved in the G20 process at both the Sherpa track and the financial track since its inception with the Prime Minister participating in all and has endeavored to ensure that the global community remains focused on the need and need to ensure an adequate flow of finance to emerging economies to meet their development. India has welcomed the inclusion of development as part of the G20 process.

The G20 or Group of Twenty, being a major forum for international cooperation, deliberates on the most important aspects of the international economic and financial agenda with the main objectives of restoring global growth, strengthening the international financial system, and reforming international financial institutions.

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School Life

Essay on G20 Summit 2023 in English for School Students

Essay on g20 summit delhi: the g20 summit 2023 is being held in new delhi, india. students must understand how important this is for our nation. check this english essay on g20 summit 2023 and amaze your teachers and friends with your knowledge.

About G20 Summit 2023

The 18th G20 Summit is the high point of a year filled with G20 activities. The G20 Summit 2023 is being held in Delhi, India from September 9 and September 10, 2023.

Who are G20 Members?

When did india join the g20, what is the theme of the 2023 g20 summit delhi, which country will host the g20 presidency in 2024, 200 words essay on g20 summit 2023.

The G20 Summit stands as a pivotal international gathering where the leaders and central bank governors from 20 of the world's most influential economies come together to deliberate on matters of global economic significance. Established in 1999, this summit was conceived to facilitate discussions surrounding policy issues concerning international economic cooperation and development.

The G20 member nations collectively wield tremendous economic power, representing a staggering 85% of the world's Gross Domestic Product (GDP) and a majority of the global population. These member countries include Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Russia, Mexico, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States.

For India, the 2023 G20 is of paramount importance. It serves as a platform through which the nation can engage with the world's foremost economic players, advocating for its economic interests and addressing pressing global concerns. India, with its rapidly growing economy and substantial population, seeks to leverage this forum to not only safeguard its own interests but also to contribute to the resolution of critical global challenges, such as climate change, trade, and economic stability.

Importance of the G20 Summit

Together, the G20 members account for approximately 85% of the world's total economic output (GDP), more than 75% of worldwide trade, and nearly two-thirds of the global population, making it a vital forum for international economic cooperation. The G20 Summit is important as it serves as a platform for the leaders of the world's largest economies to collaborate on pressing global matters.

At the G20 Summit, leaders exchange ideas, deliberate on policy solutions, and coordinate efforts to tackle various global challenges, encompassing economic issues like recessions, trade, and investments, as well as social concerns like poverty, inequality, and climate change.

Importance of India’s G20 Summit Presidency 2023

G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

During the course of its G20 Presidency, India will host about 200 meetings in 32 different sectors in multiple locations across India.

According to Prime Minister Modi, this term can be an opportunity for India to share its expertise with the world in areas of women empowerment, democracy and digital technologies.
As a country with core democratic values, India can show the world that the scope of conflict can come to an end when democracy becomes a culture. This gains significance amidst the ongoing Russia-Ukraine conflict.
India’s foreign policy is focusing on the ‘global common good’. Through its G20 leadership, India hopes to extend this principle towards finding sustainable solutions to some of the key global challenges emerging out of the interconnectedness of the world, such as climate change, new and emerging technologies, food and energy security, etc.
This would be the first time when the Troika would consist of three developing countries and emerging economies.
It is hoped that as a result there would be a shift in the balance of power within the G20 favouring emerging economies to have a greater share in decision-making at this grouping.
The G-20 Presidency presents a great opportunity for India to correct the long-standing anomalies that go against developing countries, especially in the domain of agriculture and food subsidies.

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Essay on G20 in English

In the world of international finance and economics, the G20 is one of the most important forums for discussion and decision-making.

Comprising the world’s 20 largest economies, the G-20 meets annually to address key issues in the global economy and coordinate economic policies.

In this essay, we will explore the history, structure, and significance of the G20 and examine the key issues it has tackled in recent years.

Table of Contents

Introduction: The Importance of Economic Coordination

The global economy is highly interconnected, and economic policies in one country can have far-reaching impacts worldwide.

In order to ensure stability and growth in the international economy, governments need to coordinate their policies and work together to address common challenges.

The G20 was created to facilitate this coordination and provide a forum for discussion and decision-making.

What is the G20?

The G20 or group of twenty is a forum for the world’s largest economies to discuss economic policy and coordinate their actions.

The group was founded in 1999, in the aftermath of the Asian financial crisis, as a meeting of finance ministers and central bank governors.

In 2008, in response to the global financial crisis, the G-20 was elevated to a leaders’ summit, with the first meeting taking place in Washington, D.C., that same year.

Today, the G20 comprises 19 countries plus the European Union, representing approximately two-thirds of the world’s population and 85% of global GDP.

G20 member countries

Saudi Arabia
South Africa
South Korea
United Kingdom
United States

Structure of the G-20

The G20 operates through several working groups, each focused on a specific area of economic policy.

These groups prepare reports and policy recommendations for the leaders’ summit, where final decisions are made.

The G20 also has a rotating presidency, with the host country responsible for setting the agenda and chairing the meetings.

The presidency rotates annually, with the most recent host being Italy in 2021 and Indonesia set to take over in 2022.

Key Issues Addressed by the G20

Over the years, the G20 has addressed various economic issues, from financial regulation to trade to climate change.

Some of the key issues that the G20 has focused on in recent years include:

1. Global Financial Regulation

In the aftermath of the 2008 financial crisis, the G20 played a key role in developing new regulations to prevent a similar crisis from happening again.

The group established the Financial Stability Board (FSB) to coordinate international efforts to strengthen financial regulation and has worked to implement a range of reforms aimed at increasing transparency and reducing risk in the financial system.

The G20 has also promoted international trade and reduced trade barriers.

The group has pledged to resist protectionism and support the multilateral trading system and has worked to negotiate new trade agreements, such as the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP).

3. Climate Change

The G20 has also been involved in addressing climate change and promoting sustainable development.

The group has committed to reducing greenhouse gas emissions and has supported the Paris Agreement on climate change.

The G20 has also focused on promoting renewable energy and improving energy efficiency.

4. Digital Economy

The G20 has recognized the growing importance of the digital economy and has worked to develop policies to promote the growth of this sector.

This has included efforts to promote cross-border data flows and ensure digital platforms operate in a fair and competitive environment.

5. COVID-19 response

In 2020, the G-20 was called upon to respond to the COVID-19 pandemic, which has had significant economic impacts worldwide.

The group has coordinated efforts to support the global economy, including fiscal stimulus measures and debt relief for the poorest countries.

The Significance of the G20

The G20 is significant for several reasons:

1. It brings together the world’s largest economies, giving it significant influence over global economic policy.

2. The G20 provides a discussion and coordination forum, helping prevent conflicts and promote cooperation.

3. The G20 has been important in addressing key economic challenges, from financial stability to climate change.

The G20 is a vital forum for discussion and decision-making in the global economy.

Through its work, the G-20 has helped to promote cooperation and address key economic challenges.

Its significance is likely to continue in the years ahead.

Essay on G20 in English for School Students (400 – 500 words)

The G20, or Group of Twenty, is an international forum comprising 19 countries and the European Union, representing the world’s leading economies.

The G20 aims to promote international economic cooperation and policy coordination to achieve stable, sustainable, and inclusive growth.

At its core, the G20 is a platform for leaders to come together and discuss the most pressing global economic issues.

It allows countries to exchange ideas, share best practices, and work towards common goals.

From tackling climate change to promoting financial stability, the G20 is critical in shaping the global economic agenda.

However, the G-20 is more than just a forum for economic cooperation.

It is also a platform for building relationships and fostering trust between countries.

In an increasingly divided world, the G-20 allows leaders to come together and find common ground.

Perhaps one of the most significant contributions of the G20 has been its response to the global financial crisis of 2008.

Amid the crisis, the G20 quickly mobilized to coordinate a global response.

They worked together to stabilize the financial system, stimulate economic growth, and protect jobs.

That was not an easy task, but Leaders put aside their differences and worked towards a common goal.

The G20 rose to the challenge, and their efforts were instrumental in preventing a global economic collapse.

Of course, the G-20 is not without its challenges.

As with any organization, there are disagreements and tensions between member countries.

However, even in the face of these challenges, the G20 has managed to maintain its relevance and effectiveness.

At its heart, the G20 is a symbol of hope.

It reminds us that, despite our differences, we can come together to build a better future.

In a world that can often feel overwhelming and chaotic, the G20 offers a glimmer of hope that we can work towards a brighter tomorrow.

Nevertheless, the G20 cannot do this alone. It requires the collective efforts of all member countries to achieve its goals.

It requires leaders willing to put aside their differences and work towards a common goal.

As we look to the future, the role of the G-20 will only become more critical.

From climate change to inequality, our world’s challenges are complex and interconnected.

The G-20 provides a platform for addressing these challenges and building a more equitable and sustainable future for all.

In conclusion, the G20 is a powerful symbol of international cooperation and unity.

It serves as a reminder that, despite our differences, we can work together towards a common goal.

As we face future challenges, let us remember the lessons of the G20 and work towards building a more just and equitable world.

Essay on G-20 in English for School Students (250 words)

The G20, also known as the Group of Twenty, is an international forum of 19 countries and the European Union.

Its members represent around 80% of the world’s gross domestic product and two-thirds of its population.

The forum was established in 1999 to discuss and coordinate international economic and financial issues.

The G20 is considered one of the world’s most powerful international forums, and its decisions have far-reaching consequences.

The forum brings together leaders from the world’s largest economies, including the United States, China, Japan, Germany, France, and the United Kingdom.

The G20’s mission is to promote international economic growth, financial stability, and member cooperation.

The forum plays an important role in shaping global economic policies and addressing trade, investment, energy, and climate change issues.

One of the key achievements of the G20 has been its response to the global financial crisis of 2008-2009.

The forum was critical in coordinating international efforts to stabilize financial markets and prevent global economic collapse.

In recent years, the G-20 has focused on promoting sustainable economic growth and addressing issues such as income inequality, climate change, and the digital economy.

The forum has also been key in promoting international cooperation on issues such as the COVID-19 pandemic and global vaccine distribution.

The G20 is an important forum for addressing international economic issues and promoting global cooperation.

Its members have the power and influence to shape global economic policies and address some of the world’s most pressing challenges.

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Essay on G20 Summit- The G20 Summit is an annual gathering of leaders from the world’s largest economies and the European Union. It serves as a critical forum for international economic cooperation and development. Established in 1999, the G20 Summit plays a significant role in shaping the global economic landscape and addressing pressing global challenges. This essay will explore the origins and evolution of the G20, its organizational structure, the importance of the summit, India’s G20 Summit presidency in 2023, and the key discussions and outcomes of the G20 New Delhi Summit.

Origins and Evolution of the G20

The G20 was created in response to the financial crises that emerged in several emerging economies in the 1990s. It aimed to provide a platform for Finance Ministers and Central Bank Governors to discuss global economic and financial issues. In December 1999, the first informal dialogue took place in Berlin, Germany, with representatives from advanced and emerging economies. Since then, Finance Ministers and Central Bank Governors have met annually.

Organizational Structure of the G20

Unlike other international organizations, the G20 operates without a permanent secretariat or staff. The chairmanship of the G20 rotates annually among its members. The chair, along with the past and future chairs, forms the Troika, which manages the G20’s affairs. The preparatory process for the G20 Summit is conducted through the Sherpa and Finance tracks. The Sherpa track focuses on non-economic and financial issues, while the Finance track addresses economic and financial matters. Expert working groups support both tracks in their technical and substantive work.

Importance of the G20 Summit

The G20 Summit holds immense importance as it brings together countries that represent approximately 85% of global GDP, 80% of global trade, and two-thirds of the world’s population. It serves as a platform for leaders to exchange ideas, deliberate on policy solutions, and coordinate efforts to address global challenges. The G20 Summit has played a crucial role in responding to major crises such as the 2008 global financial crisis and coordinating the global response to the COVID-19 pandemic.

India’s G20 Summit Presidency 2023

India assumes the G20 Summit presidency in 2023, reflecting its growing economic prowess and global influence. As the host of the G20 Summit, India aims to advocate for its economic interests and contribute to resolving critical global challenges. India’s G20 leadership provides an opportunity to showcase its expertise in areas such as women empowerment, democracy, and digital technologies. As a country with core democratic values, India can demonstrate that conflicts can be resolved when democracy becomes a culture.

India’s foreign policy focuses on the “global common good.” Through its G20 leadership, India aims to find sustainable solutions to key global challenges, including climate change, emerging technologies, food and energy security. India’s G20 presidency also presents an opportunity to address long-standing anomalies that disadvantage developing countries, especially in the areas of agriculture and food subsidies.

G20 New Delhi Summit: Discussions and Outcomes

The G20 New Delhi Summit, held on September 9 and 10, 2023, focused on the theme “One Earth, One Family, One Future.” The summit addressed various important issues, including food security, climate and energy, development, health, and digitalization. The discussions aimed to find collaborative solutions to these challenges and promote global economic stability and sustainable growth.

In Session 1, titled “One Earth,” participants discussed the world economy, food security, climate and energy, and the environment. The importance of observing the United Nations Charter and achieving a just and lasting peace in Ukraine was emphasized, given Russia’s aggression. Prime Minister Kishida highlighted the need for cooperation among countries to address global crises and reaffirmed the significance of the G7 Hiroshima Summit’s outcomes being integrated into the G20.

In Session 2, titled “One Family,” inclusive growth, the Sustainable Development Goals (SDGs), and health were discussed. G20 members stressed the importance of reducing poverty and inequality, accelerating efforts towards achieving the SDGs, and preparing for pandemics.

In Session 3, titled “One Future,” leaders discussed multilateral reforms, digitalization, and other issues. Prime Minister Kishida reiterated Japan’s support for the African Union’s membership in the G20, acknowledging the increasing roles of African countries in the international community. He highlighted the necessity of multilateral system reforms to overcome global challenges and shape a better future.

The G20 New Delhi Leaders’ Declaration, issued as a summary of the discussions, highlighted the commitments and actions agreed upon by the participating countries. Prime Minister Kishida engaged in brief talks with leaders from over 29 countries, fostering dialogue and strengthening international cooperation.

The G20 Summit plays a vital role in shaping the global economy and addressing pressing global challenges. As India assumes the G20 Summit presidency in 2023, it has the opportunity to advocate for its economic interests and contribute to finding sustainable solutions to key global issues. The discussions and outcomes of the G20 New Delhi Summit reflect the commitment of participating countries to collaborate and take collective action for global economic stability, inclusive growth, and the well-being of all nations. By working together, the G20 members can shape a better future for the world economy and foster international cooperation on a scale commensurate with their collective influence.

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Essay on G20 Summit- 100, 200, and 500 words

Reported by Pankaj Bhatt

Published on 6 September 2024

What if you have to write an essay on G20 Summit in school or anywhere else? Do you know what it is and why we have the number 20 in it ? If you don’t know anything about G20 or know a little bit and want to know more and, most notably, how you can write an essay on this complicated yet exciting topic, then do read this article because we have everything for you on this page.

The G20, commonly known as The Group of Twenty, is an international platform where many nations participate and discuss the cardinal points regarding the global financial and economic agendas. Moreover, one of the main objectives of this forum is to bring together all the economies emerging with the world’s advanced economies.

Furthermore, the Group of Twenty provides a forum for International Cooperation regarding economics. The G20 group was introduced in the year 1999.

In 2023, India was the presidential candidate of the G20, which was held in September. The next edition of G20 will be held in Rio De Janeiro, Brazil. The other critical details about the G20 we have shared are in essay format. In this article, we have provided essays on the G20 summit. The essay has been divided into three sections of 500, 200 and 100 words in the forthcoming paragraphs.

500 Words Essay on G20 Summit

The Group of Twenty, also known as G20, is an international platform for economic cooperation. The G20 forum plays a crucial role in reinforcing the global architecture and the governance or administration of all the economic issues that have been doing rounds worldwide. The presidency of G20 for the year 2024 is handed over to Brazil, which will be held on 18 and 19 November 2024 in Rio De Janeiro. In 2023, the 20 summit was headed by India.

Moreover, after discussing establishing the G20 summit, the Group of Twenty was founded in 1999. It was established in the wake of the Asian Financial Crisis.G20 is a platform in which the Central Bank Governors and the Finance Ministers of many countries participate in the summit to discuss financial and economic issues worldwide.

The G20 summit is held once every year under the leadership of the presidency, which is rotated among all the participating countries. The G20 comprises 19 countries in the current situation. The participating countries are as follows Indonesia, Argentina, Canada, Australia, Japan, Mexico, South Africa, United Kingdom, Türkiye, the United States, the Republic of Korea, Australia, China, Germany, France, Saudi Arabia, Brazil, Russia, Italy and the European Union. In terms of GDP, 85% of the world GDP is represented by the G20 members. Along with this, global trade of over 75% is also done by the G20 members. The various G20 summits held in the previous years have been stated below:

The First Summit was held in the year 2008 and was hosted by the US in Washington.
The Second Summit was held in April 2009 and was held in London.
The Third Summit was held in September 2009 in Pittsburgh.
The Fourth Summit was held in June 2010 in Toronto.
The Fifth Summit was held in November 2010 in Seoul.
The Sixth Summit of G20 was held in November 2011 in Cannes.
The Seventh Summit of G20 was held in June 2012 in Mexico.

The summits mentioned above are the G20 summit held in 2012. However, after 2012 also, the G20 summit was held every year. The 2023 G20 summit will be held in India and this will be the 18th G20 summit. The 17th G20 summit was held in Bali, i.e. the G20 summit 2022.

As we have mentioned earlier, this year the G20 summit will be held in India. The theme of the G20 Summit 2023 will be ‘One Earth · One Family · One Future’ or ‘Vasudhaiva Kutumbakam’.The inspiration for the theme is the ancient Sanskrit text i.e., Maha Upanishad. The theme indicates the importance of life for every creature present on the earth. The objective of the G20 Summit 2023 is as follows:

To discuss the policies regarding global economic stability as well as sustainable growth.
To discuss the crisis of the climate.
Apart from this, the G20 members are expected to discuss the recovery of many nations from the recent pandemic and the impact of the pandemic on jobs.
Discussing the Ukraine-Russia Conflict.

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The G20 summit to be held in the year 2023 will be very important for India. The primary point of the discussion for the participating countries will be as follows.

Economic Growth: The G20 platform is one of the biggest platforms for many developing and developed countries. From this perspective of India, it will provide India with the opportunity to get engaged with many larger and more developed economies all over the world. India will get the opportunity to attract investment into the country, and it will help the nation in its overall development along with its economic growth.
Financial Stability: Regarding financial stability, India can gain from the discussion regarding financial stability and regulations at the G20 Summit to be held in India.
Global Issues: The G20 summit is always considered an important platform for discussing global issues. Therefore, India can be considered a platform in which it can address various issues such as the Ukraine-Russia conflict. The G20 summit 2023 can be a game changer regarding this conflict.

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100 words essay on g20 summit.

The G20 is a forum mainly regarding economic cooperation. Since its inception and implementation, it has played an important role in strengthening world architecture. In addition to this, it has also helped in governing the major economic issues countered by the world. Furthermore, this year the G20 summit will be held in India.

The G20 summit will be from the 9th of September to the 10th of September, 2023 in New Delhi. It will be held under the presidency of India only. The theme of the G20 Summit 2023 will be ‘ One Earth. One Family. One Future’ and ‘Vasudhaiva Kutumbakam’.The G20 Summit 2023 will be important for India from many perspectives.

You can also follow the G20 India Official Twitter Page for more updates on this.

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Which Country will host the G20 Summit in 2024?

G20 Summit 2024 will be headed by Brazil.

Which country host the G20 in 2023?

India hosts the G20 summit for 2023.

When will the G20 summit be held in 2024?

It is scheduled for 18 and 19 November 2024.

Pankaj Bhatt

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Essay on G20

Introduction to G20

The Group of Twenty (G20) stands as a pivotal forum in contemporary global economic governance, offering a platform for the world’s most influential economies to collaborate on addressing pressing economic challenges. Emerging in the wake of 2008, the G20 has transformed from a platform where finance ministers discuss to a high-profile summit attended by world leaders. With its diverse membership and broad mandate, the G20 is crucial in steering international economic policy, fostering cooperation, and ensuring financial stability. This essay explores the origins, composition, objectives, achievements, challenges, and future prospects of the G20, shedding light on its significance in shaping the trajectory of the global economy.

Origins and Evolution of the G20

The Group of Twenty, commonly known as the G20, emerged as a response to the global economic challenges of the late 20th century. Its origins and evolution reflect the need for a more inclusive forum for international economic cooperation.

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Historical Context: The G20 originates from the aftermath of the Asian financial crisis in 1997 and 1998 . This crisis highlighted the shortcomings of the existing economic governance structures, particularly the dominance of the Group of Seven (G7) countries.
Emergence and Formation : In 1999, finance ministers and central bank governors from 19 major economies and the European Union convened for the first G20 meeting in response to the Asian financial crisis. This gathering marked the formal inception of the G20. Leaders established the G20 as a platform for discussing and coordinating economic policies, focusing on promoting financial stability and sustainable growth.
Expansion to Leaders’ Summit : Following the global financial crisis in 2008, leaders elevated the G20 to a summit level. This decision reflected the recognition of the need for high-level political engagement to address the magnitude of the crisis and its global ramifications. The first G20 leaders’ summit was held in Washington, D.C., in November 2008, where leaders pledged to take coordinated action to stabilize financial markets and support economic recovery.
Evolution of Mandate and Scope : Over time, the G20’s mandate has expanded beyond its initial focus on financial stability to encompass a broader range of economic issues, including trade, investment, development, and climate change. The G20 stands as the foremost platform for international economic cooperation, uniting the world’s major economies to tackle common challenges and promote policy coordination.
Key Milestones : The G20 has convened annual summits since 2008, with each summit addressing the global economy’s priorities and challenges. Notable milestones include adopting the G20 Action Plan for Growth and Jobs, establishing the Financial Stability Board (FSB), and developing the Sustainable Development Goals (SDGs).
Continued Relevance and Adaptation : The G20 continues to adapt and evolve to remain relevant despite growing global economic dynamics and emerging challenges. The G20 has played a crucial role in coordinating responses to crises such as the COVID-19 pandemic, demonstrating its agility and capacity for collective action in times of need.

Composition and Membership

Core Membership: The G20 comprises 19 individual countries and the European Union (EU), representing a diverse mix of advanced and emerging economies. These countries are selected based on their significant economic influence, representing approximately 85% of the global GDP and two-thirds of the world’s population.
Inclusion Criteria: Membership in the G20 is based primarily on economic criteria, including a country’s GDP, trade volume, and strategic importance in the global economy. While there are no formal criteria for inclusion, organizers typically invite countries with the largest economies and most significant influence on global economic dynamics to join.
Selection Process: G20 membership is not fixed and can evolve over time. New members may be invited based on changes in economic status or geopolitical considerations. The G20 operates on a consensus basis, and membership decisions are made collectively by existing members.
Non-Member Invitees: The G20 extends invitations to guest countries and international organizations, besides its core members, for participation in its meetings. These invitees may include representatives from smaller economies, regional groupings, or international financial institutions.
Outreach Groups: The G20 engages with various outreach groups, including the Business 20 (B20), Civil 20 (C20), Labour 20 (L20), Think 20 (T20), and Women 20 (W20). These groups represent different stakeholders, such as the business community, civil society, labor unions, think tanks, and women’s organizations, and they provide input and recommendations to G20 leaders.
Representation and Diversity: While the G20 represents a significant portion of the global economy, it also faces challenges related to representation and diversity. Critics argue that smaller economies and developing countries are underrepresented in the G20, limiting their ability to influence decisions that affect them.
Flexibility and Adaptability: The G20’s composition is dynamic and adaptable, allowing flexibility in addressing emerging economic challenges and incorporating diverse perspectives. The G20 maintains relevance in a swiftly evolving global economic landscape and tackles a broad spectrum of issues impacting the international community due to its flexibility.
Impact of Membership: G20 membership confers influence and responsibility on member countries, providing a platform to shape global economic policy and governance. However, membership also entails commitments to cooperative action and collective decision-making, requiring member countries to balance national interests with the broader objectives of the G20.

Members of G20

The G20 comprises 19 individual countries and the European Union (EU). The member countries are:

Additionally, the European Union (EU) participates as a member in the G20 meetings, contributing to the group’s total of 20 members.

Objectives and Mandates

The Group of Twenty (G20) has broad objectives and mandates to promote global economic stability, sustainable development, and cooperation among its member countries. Elaborate on these objectives and mandates as follows:

Economic Stability: One of the G20’s primary objectives is to promote global economic stability by coordinating policies to address macroeconomic imbalances, financial vulnerabilities, and systemic risks. The G20 seeks to prevent and mitigate financial crises, enhance resilience to shocks, and foster sustainable economic growth through policy coordination, exchange rate stability, and prudent macroeconomic management.
Financial Regulation and Reform: The G20 is committed to strengthening the international financial system by implementing comprehensive regulatory reforms to address the root causes of the 2008 global financial crisis. Key focus areas include enhancing financial sector supervision, improving risk management practices, and increasing transparency and accountability in financial markets. Initiatives such as the Basel III framework for banking regulation, reforms to over-the-counter derivatives markets, and efforts to address “too-big-to-fail” banks are part of the G20’s agenda to promote financial stability and prevent future crises.
Sustainable and Inclusive Growth: The G20 acknowledges the significance of promoting sustainable and inclusive economic growth that benefits all segments of society, including marginalized and vulnerable populations. The G20’s agenda for inclusive growth includes measures to combat climate change , increase access to healthcare and education, decrease income inequality, and promote job development. The G20 also prioritizes the United Nations Sustainable Development Goals (SDGs) and seeks to align its policies with the broader international development agenda to achieve sustainable development outcomes globally.
International Trade and Investment: The G20 supports an open, transparent, and rules-based multilateral trading system that fosters global trade and investment flows. Member countries commit to refraining from protectionist measures and working towards removing trade barriers to promote economic integration and competitiveness. The G20 also addresses trade imbalances, intellectual property rights, market access, and trade facilitation to promote a level playing field for businesses and ensure trade benefits are widely shared.
Global Governance and Cooperation: The G20 is a venue for discussion, collaboration, and collective action on a wide range of global economic concerns, such as taxation, anti-corruption, infrastructure development, and digitization. Member countries collaborate with international organizations, such as the World Bank, (IMF) International Monetary Fund, and World Trade Organization (WTO), to strengthen the effectiveness of global governance mechanisms and address common challenges.
Crisis Response and Management: The G20 is crucial in crisis response and management, providing a platform for coordinated action during economic and financial turmoil. Member countries commit to taking timely and decisive measures to restore confidence, stabilize financial markets , and support economic recovery in crises or emergencies.

Structure and Decision-Making Process

The Group of Twenty (G20) operates with a flexible structure and decision-making process that accommodates its member countries’ diverse interests and priorities. This section outlines the key components of the G20’s structure and decision-making process, including:

Organizational Structure:

Presidency: The G20 operates on a rotating presidency system, where a member country holds the presidency for one year. The presidency sets the agenda, organizes meetings, and facilitates discussions among member countries.
Sherpa Process: Each member country appoints a sherpa, who serves as the personal representative of the head of state or government in G20-related matters. Sherpas are crucial in coordinating negotiations, preparing summit agendas, and advancing their country’s interests within the G20.
Working Groups: The G20 establishes working groups on specific thematic areas, such as finance, trade, development, and climate change . These working groups conduct technical analysis, develop policy recommendations, and facilitate discussions among experts and policymakers.

Decision-Making Processes:

Consensus Building: The G20 operates on the principle of consensus, where member countries reach decisions through dialogue and negotiation. Consensus building allows for accommodating diverse viewpoints and ensures broad ownership of decisions.
Informal Nature: The G20 is an informal forum without legally binding commitments or formal voting procedures. Instead, member countries base decisions on mutual agreement and political commitments.
Declaration and Communiqués: After each summit, the G20 issues a declaration or communiqué summarizing the key outcomes, policy priorities, and commitments agreed upon by member countries. These documents guide future action and serve as a basis for monitoring progress.

Summit Meetings:

Annual Summit: The G20 convenes an annual summit of heads of state or government hosted by the country holding the presidency. The summit allows leaders to discuss pressing economic issues, exchange views, and make policy decisions.
Ministerial Meetings: Besides the annual summit, the G20 holds ministerial meetings yearly, focusing on specific thematic areas such as finance, trade, labor, and environment. These meetings provide opportunities for in-depth discussions and policy coordination among ministers and officials.

Outreach and Engagement:

Engagement Groups: The G20 engages with various stakeholder groups, including business, civil society, labor unions, and think tanks, through engagement groups such as the Business 20 (B20), Civil 20 (C20), and Labor 20 (L20). These groups provide input, recommendations, and expertise to inform G20 discussions and outcomes.
Dialogue with International Organizations: To leverage their experience and advance consistency in global economic policy, the World Bank, the International Monetary Fund (IMF), the World Trade Organization (WTO), and the Organization for Economic Cooperation and Development (OECD) are just a few of the global institutions with which the G20 works.

Major Achievements

The G20 has been instrumental in achieving significant milestones and facilitating crucial reforms in global economic governance. Here are some of its major achievements:


2008 Financial Crisis Response	Coordinated efforts to stabilize financial markets, implement stimulus packages, and reform regulations.
Sustainable Development Goals (SDGs)	Endorsed the 2030 Agenda for Sustainable Development, committing to tackle poverty, inequality, and climate change.
Trade Liberalization and WTO Reform	Promoted free trade, reduced barriers, and reformed the World Trade Organization (WTO) for effective governance.
Anti-Corruption Measures	Established action plans and commitments to enhance transparency and accountability in public and private sectors.
Infrastructure Investment	Promoted development through public-private partnerships and investment initiatives.
Debt Relief for Developing Countries	Implemented programs to alleviate the debt burden on developing countries, particularly during crises.
Paris Agreement on Climate Change	Endorsed the Paris Agreement to combat climate change by reducing emissions and promoting sustainable development.
Digital Economy and Innovation	Focused on fostering innovation, digitalization, and technology transfer for economic growth.
Health Security and Pandemic Preparedness	Mobilized resources, shared medical supplies, and coordinated vaccine distribution efforts during the COVID-19 pandemic.
Financial Regulation and Stability	Implemented regulatory reforms to prevent financial crises and strengthen the resilience of financial systems.

Challenges and Criticisms

Despite its achievements and contributions to global economic governance, the Group of Twenty (G20) faces several challenges and criticisms that warrant attention. These challenges and criticisms include:

Representation and Legitimacy: Critics argue that the G20’s membership needs to adequately represent the diversity of the global economy, with some regions and countries underrepresented or excluded from the decision-making process. The informal and exclusive nature of the G20 raises questions about its legitimacy and accountability, as decisions made by a select group of countries may not reflect the interests and perspectives of the broader international community.
Ineffectiveness and Implementation Gaps: Critics have criticized the G20 for its limited effectiveness in implementing policy reforms and achieving tangible outcomes despite its ambitious agenda and commitments. Implementation gaps and delays in translating agreements into concrete actions undermine the G20’s credibility and erode trust among member countries and stakeholders.
Lack of Enforcement Mechanisms: The G20 operates without formal enforcement mechanisms or binding commitments, relying instead on voluntary cooperation and peer pressure to encourage compliance with agreed-upon measures. The absence of enforceable rules and sanctions limits the G20’s ability to hold member countries accountable for their commitments, leading to uneven implementation and compliance.
Narrow Focus and Prioritization: Critics argue that the G20 often dominates its agenda with short-term economic and financial issues, neglecting broader challenges such as social inequality, environmental sustainability, and human rights . The G20’s narrow focus on economic growth and stability may overlook structural issues and systemic imbalances that require long-term solutions and holistic approaches.
Lack of Civil Society Engagement: Civil society organizations and grassroots movements have raised concerns about the need for more meaningful engagement and participation in G20 processes. The G20’s opaque decision-making processes and limited opportunities for civil society input hinder transparency, accountability, and democratic governance.
Geopolitical Tensions and Divisions: Geopolitical tensions and rivalries among G20 member countries, such as those between the United States, China, and Russia, pose challenges to consensus-building and cooperation within the forum. Divisions over trade disputes, geopolitical conflicts, and ideological differences can hinder progress on shared objectives and undermine the G20’s effectiveness as a platform for global economic governance.

Future Prospects and Recommendations

There are chances for the Group of Twenty (G20) to increase its influence over the direction of global economic governance as it continues to manage intricate geopolitical dynamics and challenging global economic issues. Future prospects and recommendations for the G20 include:

Enhanced Multilateral Cooperation: The G20 should prioritize strengthening multilateral cooperation and dialogue among its member countries, fostering trust, and building consensus on shared objectives and challenges. Prioritizing diversity, openness, and accountability can improve the G20’s credibility and efficacy as a platform for international economic governance.
Comprehensive Policy Agenda: The G20 should adopt a comprehensive policy agenda that addresses short-term economic and financial issues and broader challenges such as climate change, social inequality, and technological innovation. Balancing economic growth with sustainability, equity, and resilience can promote more inclusive and sustainable development outcomes globally.
Institutional Reform and Governance: The G20 should consider institutional reforms to enhance its governance structure and decision-making processes, ensuring greater representation and participation of all member countries and stakeholders. Exploring mechanisms for accountability, enforcement, and peer review can strengthen the implementation of agreed-upon measures and enhance the G20’s effectiveness in addressing global challenges.
Engagement with Civil Society and Stakeholders: The G20 should engage more actively with civil society organizations, academia, businesses, and other stakeholders to foster transparency, inclusivity, and dialogue. Creating platforms for meaningful participation and consultation can enrich policy discussions, build public trust, and enhance the relevance of the G20’s decisions and initiatives.
Innovation and Adaptation: The G20 should embrace innovation and adaptability to respond effectively to emerging challenges and opportunities in the global economy. Leveraging digital technologies, data analytics, and scientific research can facilitate evidence-based policymaking and enhance the G20’s capacity to address complex and interconnected issues.
Commitment to Sustainable Development: The G20 should reaffirm its dedication to sustainable development goals, including climate action, poverty reduction, and gender equality . Integrating sustainability considerations into economic policies, investment decisions, and infrastructure development can promote green growth and build resilience to environmental and social risks.
Strengthening Global Health Security: Building on lessons learned from the COVID-19 pandemic, the G20 should prioritize strengthening global health security and pandemic preparedness. Investing in healthcare systems, vaccine production capacity, and international cooperation can mitigate the impact of future health crises and promote global health equity.

The G20 has proven instrumental in navigating complex global economic challenges, fostering cooperation among member countries, and shaping international policy responses. Through collaborative efforts, the G20 has achieved notable milestones in financial regulation, trade facilitation, crisis management, and global health response. However, the forum faces ongoing challenges, including representation issues and divergent national interests. Despite these challenges, the G20 remains a vital platform for addressing shared global concerns and advancing collective prosperity. Moving forward, sustained commitment to dialogue, cooperation, and multilateralism will be essential to effectively tackle evolving threats and promote inclusive and sustainable economic growth on a global scale.

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Paragraph on G20

Students are often asked to write a paragraph on G20 in their schools. And if you’re also looking for the same, we have created 100-word, 200-word, and 250-word paragraphs on the topic.

Let’s take a look…

Paragraph on G20 in 100 Words

The G20 is like a big group of friends who are actually countries from all over the world. They meet every year to talk about important things like money, health, and helping the Earth. This group has 20 members, including 19 countries and the European Union. Some of the countries are the United States, United Kingdom, India, and China. They work together to solve big problems. It’s like when you and your friends decide to clean up the playground together, but on a much bigger scale. So, G20 is about teamwork and making the world a better place.

Paragraph on G20 in 200 Words

The G20 is a group of the world’s biggest economies, including 19 countries and the European Union. The 19 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Together, they make up about 80% of the world’s economy. They meet every year to talk about important things like money, trade, and issues that affect the whole world, like climate change. The G20 started in 1999, but they began meeting at the level of leaders in 2008 during the big financial crisis to find ways to fix the world’s money problems. Each year, a different country gets to be the host and decide what to talk about. The leaders of the G20 countries work together to make rules and plans that will help all the countries in the group. This way, they try to make the world a better place for everyone. The G20 is very important because when these countries agree on something, it can have a big effect on the world.

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Paragraph on G20 in 250 Words

The G20, short for Group of Twenty, is an international meeting of 19 countries and the European Union. These countries include big economies like America, China, India, and Australia. The European Union, though not a country, joins as a group of many European countries. Together, these nations make up about 80% of the world’s economy. They meet to talk about and solve the world’s biggest financial problems. This could be anything from managing money, trade between countries, environment issues, or even global health issues like the COVID-19 pandemic. The G20 does not make laws or rules, but their discussions and agreements carry a lot of weight because they are such big economies. The meetings happen once a year and the location changes every time. The first G20 meeting was in 1999, but it became more important in 2008 during the global financial crisis. Each year, a different country gets the honor of being the host and leading the conversations. The G20 helps countries work together to solve problems that affect everyone. It’s like a big team meeting for the world’s economies.

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What Does the G20 Do?

World leaders meet at the 2023 G20 summit in New Delhi, India.

The G20, formed in 1999, is a group of twenty of the world’s largest economies that meets regularly to coordinate global policy on trade, health, climate, and other issues.
Previous summits have addressed the COVID-19 pandemic, 2008 financial crisis, the Iranian nuclear program, and the Syrian civil war.
At the 2023 summit, the group welcomed the African Union as its newest member, even as the Russian invasion of Ukraine continued to cause divisions.

Introduction

The Group of Twenty (G20), a collection of twenty of the world’s largest economies formed in 1999, was conceived as a bloc that would bring together the most important industrialized and developing economies to discuss international economic and financial stability. Its annual summit, a gathering of G20 leaders that debuted in 2008, has evolved into a major forum for discussing economics as well as other pressing global issues. Bilateral meetings on the summit’s sidelines have occasionally led to major international agreements. And while one of the group’s most impressive achievements was its robust response to the 2008 financial crisis, its cohesion has since frayed, and analysts have criticized its lackluster response to the COVID-19 pandemic.

Under President Donald Trump, the United States clashed with the rest of the group on trade, climate, and migration policy. President Joe Biden promised a return to multilateral cooperation, achieving a new global agreement on corporate taxation, but tensions have continued to grow as high- and low-income countries have increasingly diverged on major issues such as climate change, economic development, and the ongoing fallout from the war in Ukraine. At the 2023 summit in New Delhi, India aimed to bolster its leadership bona fides by welcoming the African Union as the group’s newest member.

Who is in the G20?

G20 (Group of Twenty)
International Economics
Diplomacy and International Institutions
United States

The G20 is a forum comprising nineteen countries with some of the world’s largest economies, as well as the European Union (EU) and, as of 2023, the African Union (AU). The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom (UK), and the United States. Spain is invited as a permanent guest.

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Every year, the leaders of G20 members meet to discuss mainly economic and financial matters and coordinate policy on some other issues of mutual interest. Examples include when the G20 discussed how to address a covert Iranian nuclear plant at the 2009 summit and when the forum debated how to administer a partial cease-fire in Syria at the 2017 summit. The G20 is not a permanent institution with a headquarters, offices, or staff. Instead, its leadership rotates on an annual basis among its members, its decisions are made by consensus, and implementation of its agenda depends on the political will of the individual states.

Why does the G20 matter?

Together, the nations of the G20 account for more than 85 percent of global economic output, around 75 percent of global exports, and about 80 percent of the world’s population. These figures have remained relatively stable while the corresponding rates for Group of Seven (G7) nations, a smaller group of advanced democracies, have shrunk, as larger emerging markets take up a relatively greater share of the world’s economy.

The G20 was formed in 1999, in the wake of the Asian financial crisis, to unite finance ministers and central bankers from twenty of the world’s largest established and emerging economies. A decade later, at the height of the global economic crisis, the G20 was elevated to include heads of state and government. Many experts credit the G20 with quick action; former CFR fellow Stewart Patrick said the group “ rescued a global financial system in free fall .” In 2008 and 2009, G20 nations agreed to spending measures worth $4 trillion to revive their economies, rejected trade barriers, and implemented far-reaching reforms of the financial system.

Since then, many observers say, the G20 has struggled to achieve similar success on its goals of coordinating monetary and fiscal policies, achieving higher growth, and rooting out corruption and tax evasion. Geopolitical analysts Ian Bremmer and Nouriel Roubini have argued against the G20’s utility, saying that a “G-Zero” world is emerging instead—one in which countries go it alone or form ad hoc coalitions to pursue their interests. In 2021, then CFR President Haass and senior fellow Charles A. Kupchan called for a new concert of powers , contending that “fly-in, fly-out” G20 summits are often bogged down by “haggling over detailed, but often anodyne, communiqués.”

But experts point out that the G20’s membership is still more representative of the current international balance of power than blocs of countries formed earlier, such as the G7. Several rising democracies, including Brazil, India, and Indonesia, belong to the G20, as do other influential autocratic countries, such as China, Russia, and Saudi Arabia. (Russia’s G7 membership was suspended indefinitely in 2014 following its annexation of Ukraine’s Crimea region.) For this reason, Patrick described the 2008 elevation of the G20 as a watershed moment in global governance and argued that the group was the best-suited forum for tackling the challenges of the COVID-19 pandemic.

What’s been on the agenda?

The G20 initially focused largely on broad macroeconomic policy, but it has expanded its ambit. The 2016 summit in Hangzhou, China, broke new ground when U.S. President Barack Obama and Chinese President Xi Jinping formally announced their countries’ accession to the Paris Agreement on climate.

Economic and financial coordination remains the centerpiece of each summit’s agenda, but issues such as the future of work, climate change, and global health are recurring focuses as well. Broader agendas became more common in the decade following the global financial crisis, when the G20 was able to turn its attention beyond acute economic crisis management. But at recent summits, countries have struggled to reach a unified consensus—the hallmark of previous iterations of the conference—as the interests of high- and low-income economies continue to diverge.

The COVID-19 pandemic posed a major test for the group, which Patrick has criticized for largely failing to move beyond “uncoordinated national policies.” However, G20 countries did agree to suspend debt payments owed to them by some of the world’s poorest countries, providing billions of dollars in relief.

Although climate change has been a focus of recent summits, meetings have yielded few concrete commitments on the issue. At the 2021 Rome summit, countries agreed to curb emissions of methane and end public financing for most new coal power plants overseas, but they said nothing about limiting coal use domestically. (China, the world’s largest emitter, permitted more domestic coal power plants in 2022 than any year since 2015). At the 2022 gathering, Indonesia agreed to close coal power plants in exchange for $20 billion in financing from high-income countries, including the United States. But as of 2023, it is still building coal-fired plants.

As the 2023 host, India sought to cast itself as a voice for the so-called Global South, framing the agenda around issues facing lower-income countries. These include rising debt levels, persistently high inflation, depreciating local currencies, food insecurity, and increasing severe weather events associated with climate change. In addition, New Delhi presided over the admittance of the AU, expanding representation to fifty-five countries. This allowed Indian Prime Minister Narendra Modi to “showcase his status as the leader of a rising India,” according to CFR’s Manjari Chatterjee Miller and Clare Harris.

What have been the main points of contention?

Geopolitical tensions, heightened by the Russian invasion of Ukraine but also spurred by strategic competition between China and the United States, have increasingly threatened cooperation. In the United States, bipartisan legislative efforts have aimed to deny Russia standing in the World Trade Organization (WTO) and other international institutions. Russia’s participation in the G20 has grown contentious, with some Western countries seeking to exclude Moscow, though members including China and Brazil have opposed that idea. Neither Chinese President Xi Jinping nor Russian President Vladimir Putin attended the 2023 summit. The issue continued to split the group in New Delhi, and their joint declaration on the war failed to mention Russia by name.

G20 members also faced divisions over how to address the economic shocks disproportionately affecting emerging economies. The energy crisis resulting from the war in Ukraine has led to food scarcity and soaring energy prices, as well as inflationary pressures that have engendered a stronger U.S. dollar at the expense of depreciating currencies in emerging economies. As a result, more countries are turning to international lenders for bailouts; over one hundred countries have requested emergency assistance from the International Monetary Fund (IMF) since the beginning of the pandemic. IMF lending to distressed economies soared to a record high of $140 billion in 2022. The G20 introduced a common framework for debt treatment ahead of its 2020 summit, but only four countries—Chad, Ethiopia, Ghana, and Zambia—have requested debt relief under the framework. Experts blame divisions between lender countries.

“No framework for coordination among official creditors can work if official creditors don’t have enough in common to work together,” CFR senior fellow Brad W. Setser wrote in March 2023. “The ‘Common Framework’ exists in name only.” International lenders are now considering ways to reform the framework.

The group’s long-standing commitment to an international order based on WTO principles of reducing tariffs and other trade barriers has in recent years collided with growing economic competition between great powers. President Trump launched a multifront trade war involving several G20 members, imposing a suite of tariffs on China that the Biden administration has largely left in place. Biden has also pursued other measures meant to “de–risk” the U.S. economy from China’s. In August 2022, he signed the CHIPS and Science Act, which encourages advanced technology manufacturing to move back to the United States. That measure was followed by strict export controls that restricted China’s ability to buy certain chips made anywhere in the world with U.S. inputs, and an outbound screening regime prohibiting some U.S. investments in Chinese sensitive technology sectors.

There is also still friction within the group regarding climate change. China, India, Russia, and Saudi Arabia reportedly blocked an agreement on phasing out coal use and fossil fuel subsidies at a July 2021 meeting of environment ministers. And following the invasion of Ukraine, Germany and other G20 countries have reneged on previous promises to stop financing fossil fuel projects overseas. The New Delhi summit again failed to produce ambitious climate action, calling only for a “phasedown” of coal rather than the “phaseout” sought by many climate advocates.

What happens on the sidelines of the summits?

Some experts have emphasized the G20’s flexibility compared with other multilateral institutions, noting that it can help shake up a sometimes rigid geopolitical order. This flexibility extends to the summits themselves, where bilateral meetings between heads of state and government often focus on issues outside the formal agenda.

These tête-à-têtes, whether planned or impromptu, often grab headlines due to their diplomatic gravity. In Hamburg, Germany, in 2017, Trump met Putin for the first time, holding multiple meetings that lasted several hours each and sparked concerns among U.S. allies within the G20. The following year, a bilateral meeting again overshadowed the G20 summit, this time between Trump and Chinese President Xi Jinping. The two leaders agreed to delay threatened tariff hikes.

The 2022 Bali summit hosted the first in-person meeting between Biden and Xi since Biden was elected in 2020. Though the two leaders did not agree to any tangible measures, they committed to keeping diplomatic lines of communication open. In 2023, summit sidelines saw the formation of the India-Middle East-Europe Economic Corridor (IMEC), a rail and port deal linking India and Europe via infrastructure networks that cut through the Middle East. Some observers see IMEC as one of the most serious challenges to China’s Belt and Road Initiative to date.

Many experts stress the substantial effects of personal relationships among leaders on the creation of foreign policy. By gathering so many leaders together, G20 summits offer rare opportunities to develop such relationships and recast bilateral ties.

Recommended Resources

For Foreign Affairs , CFR’s Richard Haass and Charles A. Kupchan make the case for a new concert of powers .

This Backgrounder explains the recent international agreement on a new framework for corporate taxation .

This In Brief breaks down the progress countries made at the twenty-seventh Conference of the Parties (COP27) climate summit.

In this blog post, CFR expert Brad W. Setser analyzes the G20 common framework and its limitations.

Experts from around the world break down the 2023 G20 summit in this Council of Councils Global memo .

Andrew Chatzky and Megan Fahrney contributed to this report.

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Explained | What is G20, Why it Matters & How it Works: All About the Int'l Grouping and Its Origins

Curated By : Majid Alam

Last Updated: September 09, 2023, 09:00 IST

New Delhi, India

People stand infront of Nataraja, a statue of Hindu lord Shiva as the cosmic dancer, installed next to 'Bharat Mandapam', the main venue of the G20 Summit, in New Delhi. (Reuters)

G20 was founded in 1999 to bring together financial ministers from 19 countries and the European Union to address issues related to the global economy

Leaders and heads of state from the leading economies of the world arrived in New Delhi to attend the two-day G20 summit, beginning from Saturday. World leaders including US President Joe Biden, German Chancellor Olaf Scholz, French President Emmanuel Macron and others will meet at the Bharat Mandapam, situated in New Delhi’s Pragati Maidan over the weekend and discuss the economic and pressing challenges before the leading markets.

Here is everything you need to know about the G20 – from its members to its origin and about the agenda and common communique.

What is G20?

The G20 or the Group of Twenty is an annual summit of the influential grouping of 20 countries, that represent around 85 percent of the global GDP, over 75 percent of the global trade, and about two-thirds of the world population.

What are G20 Countries?

The grouping comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).

What is G20 Meeting?

The G20 countries meet every year and the summit is the culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials and civil society groups.

The leaders of G20 countries adopt a ‘G20 Leaders’ Declaration’ at the conclusion of the summit stating their commitment towards the priorities discussed and agreed upon the conclusions arrived at the meetings.

When and Why Was G20 Formed?

G20 was founded in 1999 to bring together financial ministers from 19 countries and the European Union to address issues related to the global economy. Earlier, the group was designed to be a forum for finance minister and officials to discuss economic issues.

However, after 2008 financial crisis, the first leaders’ summit was held in view of the financial turmoil to promote better international cooperation. Since then, the finance ministers meet every year under finance track while the heads of states meet under G20 Heads of State and Government Summit.

What has the G20 achieved?

The G20 has been a summit of the global powerhouses to meet and tackle challenges facing the global economy. During the financial crisis, the G20 leaders in 2008 and 2009 summits agreed on a host of measures to tackled economic challenges.

In 2019 summit in Osaka, then US president Donald Trump and Chinese President Xi Jinping agreed to resume talks to settle a major trade dispute.

What Happened at G20 Summit in Bali?

In the last year’s Bali Summit, the deliberation of the world’s 20 biggest economies was hindered by differences over Russia’s invasion of Ukraine. However, Indonesian President Joko Widodo managed to produce a declaration at the eleventh hour after wrangling over the conflict for days.

The Bali Leaders’ Declaration said “most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy." It also said that “there were other views and different assessments of the situation and sanctions."

How does the G20 work?

The G20, unlike other formal international bodies, is only an informal grouping. Therefore, unlike the United Nations (UN) or World Bank, it does not have a permanent secretariat or staff.

The G20 works in three major tracks : Finance Track, Sherpa Track and Engagement Groups. While the first two are official, the engagement group is unofficial.

The Finance Track is led by Finance Ministers and Central Bank Governors of the G20 countries, who meet four times a year.

The Sherpa Track is headed by the representative, who are the personal emissaries of the heads of states of the G20 countries. India’s G20 Sherpa is former NITI Aayog CEO Amitabh Kant.

What is the Agenda this Year?

Under India’s presidency, the bloc has centred discussions around more loans to developing nations from multilateral institutions, reforming international debt architecture, regulations on cryptocurrency and the impact of geopolitical uncertainties on food and energy security.

India also intends to focus on the following issues:

Green Development, Climate Finance and LiFE (Low-carbon Technologies for Fighting Epidemics)
Accelerated, Inclusive and Resilient Growth
Accelerating Progress on Sustainable Development Goals
Technological Transformation and Digital Public Infrastructure
Multilateral Institutions for the 21st Century
Women-led Development

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ESSAY ON G20 Summit 2023 for Competitive Exams | Essay on G20

Essay on g20 | g20 essay | g20 essay in english.

Currently India is holding Presidency of G20 , therefore essay on G20 has become most important essay topics for all competitive exams like, UPSC, State PSC, SBI PO, IBPS PO, SIDBI, NABARD, SEBI and other banking exams descriptive papers. Here we have written an essay on G20 which will be helpful for your essay writing preparation. Lets see essay on G20 .

ESSAY ON G20 | G20 ESSAY | Essay on G20 for SBI PO, IBPS PO, SIDBI, NABARD, SEBI, UPSC & other exams

Essay on G20 Summit 2023

G20 Summit is an annual international gathering of leaders from the world's largest economies, representing both developed and developing nations. The summit aims to address global economic challenges, promote financial stability, and facilitate international cooperation on a wide range of issues, including trade, finance, climate change, and global health.

G20 Summit 2023 India

Presently India is holding Presidency of the G20 which is an intergovernmental forum comprising 19 countries and the European Union. The 2023 G20 summit New Delhi India is eighteenth meeting of G20 (Group of Twenty) which is being held between 9 - 10 September 2023 in Bharat Mandapam International Exhibition Convention Centre, Pragati Maidan, New Delhi.

" Vasudhaiva Kutumbakam " or "One Earth, One Family, One Future" is the theme of India's G20 Presidency which official journey was started from 1 December 2022 when India assume the G20 Presidency. G20 Summit 2023 is the first G20 summit held in India as well as in South Asia. Download PDF of this essay: Click Here .

What is G20?

The Group of Twenty (G20) is premier intergovernmental forum comprising 19 countries and the European Union aiming for international economic cooperation. This premier forum plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. The G20 members represent around 85% of the global GDP, more than 75% of the global trade, and approx two-thirds of the world population. Download PDF of this essay: Click Here

Members of G20

Members of The Group of Twenty (G20) are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom & United States and the European Union.

Works of G20

G20 focuses to address major issues related to the global economy such as international financial stability, climate change mitigation and sustainable development. The G20 Summit held annually under the leadership of a rotating Presidency which steers the G20 agenda for one year and hosts the Summit.

Brief History of G20

The G20 was founded in the year 1999 with the aim to address several world economic crises. Since 2008, it has convened at least once a year under the leadership of a rotating Presidency involving each member’s head of Government or State, Finance Minister or Foreign Minister or other high ranking official. At its 2009 London Summit, G20 declared itself primary venue for international economic and financial cooperation. Presently India is holding presidency of G20.

Earlier G20 Summit 2022 was the seventeenth meeting of Group of Twenty, which was held in Nusa Dua, Bali, Indonesia on 15–16 November 2022. The next G20 Summit is scheduled to be held in Rio de Janeiro Brazil in 2024 which is the upcoming nineteenth meeting of Group of Twenty (G20).

G20 Summit 2023 India is significant event for the country. India's role as the host would provide an opportunity to showcase its economic and geopolitical importance on the world stage. It offer a platform for India to engage with other major economies to discuss and collaborate on critical global issues. The agenda of the G20 Summit typically covers a broad spectrum of topics, reflecting the interconnected nature of the global economy and the need for coordinated action among nations. These discussions can have far-reaching implications for international policies and cooperation.

Hope you liked this essay on G20 and it helped you in your exam preparation. This essay on g20 is most important for all competitive exams.

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What is the G20?

The Group of 20 aims to unite world leaders around shared economic, political and health challenges. It also serves as an all-purpose jamboree of diplomatic activity.

Share full article

By Michael Crowley

Published Oct. 30, 2021 Updated Oct. 31, 2021

The annual Group of 20 summit meeting, which brings together President Biden and other world leaders, is intended to foster global economic cooperation. But with so many top officials in one place, it also serves as an all-purpose jamboree of nonstop formal and informal diplomatic activity.

This year’s meeting is taking place in Rome on Saturday and Sunday and is expected covering issues like climate change, the global supply chain, the pandemic and the chaotic withdrawal of American troops from Afghanistan. If the members can reach consensus on such subjects, they will produce an official joint declaration at the end.

Here is a look at what the Group of 20 is and does, and some of the important things to watch during the summit.

The Group of 20 is an organization of finance ministers and central bank governors from 19 individual countries and the European Union.

In addition to the United States, those countries are Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey. Collectively, its members represent more than 80 percent of the world’s economic output.

Established in 1999 after a series of major international debt crises, the G20 aims to unite world leaders around shared economic, political and health challenges. It is a creation of the more select Group of 7, an informal bloc of industrialized democracies.

Supporters argue that as national economies grow ever more globalized, it is essential that political and finance leaders work closely together.

What is the G20 summit?

Formally the “Summit on Financial Markets and the World Economy,” the G20 meeting is an annual gathering of finance ministers and heads of state representing the members.

It bills itself as the “premier forum for international economic cooperation.” The heads of state first convened officially in November 2008 as the global financial crisis began to unfold.

The annual summit meeting is hosted by the nation that holds the rotating presidency; this year, it’s Italy.

What happens at a G20 summit?

It is focused on several core issues around which its leaders hope to reach a consensus for collective action.

The goal is to conclude the two-day gathering by issuing a joint statement committing its members to action, although the declaration is not legally binding. But one-on-one meetings can overshadow official business.

Michael Crowley is a diplomatic correspondent in the Washington bureau. He joined The Times in 2019 and was a White House correspondent for the last 18 months of the Trump administration. More about Michael Crowley

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G20 - Importance, Members, G20 Summit 2023 India Presidency

Historical background of g20 summit, g20 countries list, structure and functioning of g20, significance of g20 summit 2023, issues and limitations of g20.

Indiarsquos G2O Presidency 2023

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Prelims: Current events of national and international importance

Mains: Bilateral, Regional and Global Groupings and Agreements involving India and/or affecting India’s interests

The G20 Summit is an intergovernmental forum for international economic cooperation that shapes and strengthens global economic architecture and related governance. Although the initial focus of the Group of 20 was primarily on global macroeconomic issues and financial stability, which were the reasons for its genesis, its agenda has been broadened to cover concerns like trade, climate change, sustainable development, health, agriculture, energy, environment, anti-corruption, and so on.

The current G20 Presidency offers a unique opportunity for India to spearhead a collective approach to address various complex economic challenges of the world as well as putting the aspirations of the developing world to the forefront of the platform.

The Group owes its origin to the Financial Crisis in 1997-98 of the Asian Tigers (Countries of East and Southeast Asia), which caused its establishment in 1999. It worked first as a forum for the Central Bank Governors and Finance Ministers of the major industrialised and developing economies to discuss global economic and financial stability.

Elevation to Leader’s Level: After the 2008 global financial crisis , it was upgraded to the level of Heads of State or Government when it became clear that crisis coordination would be possible only at the highest political level.

In 2009, it was declared as the “premier forum for international economic cooperation”.
The G20 Leaders have met on a regular basis since then, and the G20 has emerged as the leading platform for global economic cooperation.

G20 comprises 19 countries, namely Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkiye, the United Kingdom, the United States and the European Union .

These members account for around 85% of the world GDP, 75% of the total international trade, and two-thirds of the global population.
In addition to these member countries, the G20 each year invites guest countries and international organisations such as the United Nations , World Bank, IMF, OECD, ASEAN , etc., to participate in its meetings.

The G20 operates on the basis of annual meetings of Finance Ministers and Central Bank Governors, with a leaders' summit held once a year. The G20 consists of two parallel tracks called the Finance Track and the Sherpa Track . These two tracks play an active role in shaping ideas and priorities for the host presidency while also guiding the intergovernmental negotiations carried out throughout the presidency. They prepare and follow up on the issues and commitments adopted at the Summits.

- The Sherpas of member countries are the personal .

- They concentrate on such as agriculture, anti-corruption, climate, digital economy, education, employment, energy, environment, health, tourism, trade and investment.

- They oversee all the negotiations over the year, discuss the agenda for the Summit and coordinate the substantive work of G20.

- It is headed by the , who generally meet four times a year, with two meetings being held on the sidelines of meetings.

- Fiscal and Monetary policy issues such as global economy, infrastructure, financial regulation, financial inclusion, international financial architecture, and international taxation.

Troika: The G20 does not have a charter or a secretariat. The Presidency is supported by the Troika, which includes the previous, current, and incoming presidencies. The G20 Presidency hosts the Summit and directs the agenda for a calendar year.
A non-binding forum: Its decisions are not legally binding, and member countries are not required to implement them.
Working with international organisations: The G20 members also work closely with international organisations such as the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO).
The G20 summit in Hangzhou (China), 2016, saw the convergence of the US and China on the Paris Agreement.
The G20 summit in Argentina, 2018 focused on fair and sustainable development.
G20 summit in Germany, 2021 focused on the issues regarding money laundering, international tax havens, and corruption.
G20 summit in Bali (Indonesia), 2022 focused on financial stability, humanitarian crisis, poverty, and aid to least developed nations, among other things.
Food security: The leaders promised to work together to address food security issues and praised the Black Sea grains initiative.
Promoting gender equality: Recognize the importance of gender equality and commit to promoting it by increasing women's participation in the workforce, reducing the gender pay gap, and improving access to education and healthcare .
Global balance of power: The G20 promotes a more equitable distribution of power among developed and developing countries than the earlier formed blocs such as G-7 and P-5 (UNSC), which helps to maintain a balance of power at the global level.
Bringing adversaries on a common platform: The importance of the G20 lies in its ability to bring together countries with different ideologies, political systems, and economic interests onto a common platform to discuss and address global economic issues.
The commitments adopted by the G20 members in the domain of climate change revolve around the following issues: energy efficiency and renewables; adoption of advanced and clean technologies; resilient infrastructure; tackling environmental challenges like biodiversity loss; adoption of the Circular Carbon Economy etc.
Networking and collaboration: The G20 provides an opportunity for leaders from different countries to meet and exchange ideas, strengthening relationships and promoting collaboration on economic issues .
Global economic cooperation: The G20 has played a critical role in responding to economic crises such as the 2008 global financial crisis, the Eurozone debt crisis , and the COVID-19 pandemic.

While the G20 has played an important role in shaping global economic policies, there are several challenges and limitations to its effectiveness:

For example, during the 2008 global financial crisis , the G20 struggled to come up with a coordinated response.
There has been friction within the group sometimes regarding the issue of climate change.
Further, geopolitical tensions such as the Russia-Ukraine crisis also become the bone of contention in reaching the consensus, as observed in the Bali G20 summit as well as during the current India's G20 presidency .
No Permanent Secretariat: The G20 does not have a permanent secretariat, due to which monitoring becomes cumbersome and inefficient as discussions expand.
For example, the G20 countries had agreed to a set of guidelines for preventing the financing of terrorism , but there is no mechanism to enforce compliance with these guidelines.
Limited membership: The G20 only includes 19 countries and the European Union, which means that other important economies are not included. Expanding the membership could help to ensure that the group is more representative of the global economy .

India’s G2O Presidency 2023

India is hosting the G20 Leaders' Summit 2023 for the first time in history, with 43 Heads of Delegation attending the final New Delhi Summit in September 2023 , the most ever in the G20. Amitabh Kant is the G20 Sherpa of India. India is on a mission to create a shared global future with a rules-based order, peace, and just growth for all through its Amrit Kaal initiative .

Theme of India’s G20 presidency: “Vasudhaiva Kutumbakam” or “One Earth - One Family - One Future”.
Troika: During the presidency, the Troika would consist of Indonesia, India and Brazil.
Invitees: Other than the members and multilateral institutions, nine countries have been invited - Bangladesh, Netherlands, Oman, Singapore, Nigeria, Spain and the United Arab Emirates, Egypt, and Mauritius.
African representation: To make G20 more inclusive, India has proposed to include the African Union as a full-time member.
Challenge for India presidency: In its various G20 meetings, India as a host, has been unable to draft a final joint statement acceptable to all members due to Russia-Ukraine tensions.

India's G20 Priorities

Green Development, Climate Finance and Lifestyle for Environment (LiFE): India's emphasis on combating climate change, with a focus on climate technology and finance, as well as ensuring equitable energy transitions for developing nations.
Accelerated, Inclusive & Resilient Growth: Focus on initiatives that could result in structural change, such as: assisting small and medium-sized businesses in international trade, advancing labour rights and welfare, addressing the global skills gap, and constructing inclusive agricultural value chains and food systems.
Accelerating progress on SDGs: Recommitment to achieving the goals outlined in the 2030 Agenda for Sustainable Development, with an emphasis on addressing the COVID-19 pandemic's effects.
Technological Transformation and Digital Public Infrastructure: Encouragement of a human-centric view of technology and increased knowledge exchange in areas like financial inclusion, digital public infrastructure, and tech-enabled development in industries like agriculture and education.
Multilateral Institutions for the 21st century: Efforts to reform multilateralism and build a more accountable, inclusive, and representative global order capable of addressing the challenges of the twenty-first century.
Women-led Development: In order to promote socio-economic development and the achievement of the SDGs , emphasis should be placed on inclusive growth and development, with a focus on women's empowerment and representation.

Significance of India’s G20 Presidency

India’s growing economic influence: As the fastest-growing large economy, India’s role in the G20 is critical, and its presidency will help it further strengthen its economic ties with other G20 members.
India’s leadership on climate change: India has been a strong advocate for climate action. As the world grapples with the challenge of climate change, India’s presidency can help set the tone for global cooperation on this issue.
India’s focus on inclusive growth: By prioritising inclusive growth, India’s presidency will focus on issues such as infrastructure development, job creation, and women’s empowerment.
India’s strategic importance: The presidency of the G20 will provide a platform for India to engage with other major powers, including the United States , China , and Russia , on issues of global importance.
Becoming the voice of Global South: By holding the meeting of the Global South countries along with G20 meetings, India has become the voice of the erstwhile sidelined Global South.
India’s role in quality healthcare: India has played a leading role in ensuring that developing and low-income countries have access to vaccines, financing, and other resources they need to recover from the pandemic. Thus, India can ensure universal, quality, and affordable health services.

Question 1: With reference to the “G20 Common Framework”, consider the following statements (UPSC Prelims 2022)

It is an initiative endorsed by the G20 together with the Paris Club.
It is an initiative to support Low Income Countries with unsustainable debt.

Which of the statements given above is/are correct?

Both 1 and 2
Neither 1 nor 2

Answer: (c)

Question 2: In which one of the following groups are all four countries members of G20? (UPSC Prelims 2020)

Argentina, Mexico, South Africa and Turkey
Australia, Canada, Malaysia and New Zealand
Brazil, Iran, Saudi Arabia and Vietnam
Indonesia, Japan, Singapore and South Korea

Answer: (a)

What is the G20?

The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries - Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and the United States and the European Union.

When will India host the G20?

India will convene the G20 Leaders' Summit for the first time in 2023, as 43 Heads of Delegations- the largest ever in the G20–will participate in the final New Delhi Summit in September later this year.

What is the theme of India's G20 presidency in 2023?

India has set “Vasudhaiva Kutumbakam” or “One Earth - One Family - One Future” as the theme for its G20 Presidency, rightly aiming to instil a sense of unanimity essential for addressing these global challenges collectively and effectively.

Where was the first summit of G20 held?

The first G20 Summit was held in 2008 in Washington DC (USA). It set the scene for the reforms of global finance.

Which international organisation is represented as a single entity within the G20?

The European Union (EU) is represented as one entity in the G20. While each member state of the EU is a separate sovereign entity, the EU has a single representation in international organisations such as the G20.

Which country will host the G20 summit in 2024?

Brazil, for the first time, will host the annual meeting of the heads and prime ministers of the Group of Twenty, the group of the 20 largest economies on the planet, in 2024.

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The Group of Twenty (G20)

The Group of Twenty (G20) is the premier intergovernmental forum for international economic cooperation. The forum 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. The theme of India's G20 Presidency is - " VasudhaivaKutumbakam " or " One Earth . One Family . One Future "

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.

The 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.
The 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.
The Finance Track is mainly led by the Ministry of Finance. These working groups meet regularly throughout the term of each Presidency. The Sherpas oversee negotiations over the course of the year, discussing agenda items for the Summit and coordinating the substantive work of the G20.
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.

India's G20 Priorities?

Green Development, Climate Finance & Lifestyle for Environment (LiFE)
Accelerated, Inclusive & Resilient Growth
Accelerating progress on Sustainable Development Goals (SDGs)
Technological Transformation & Digital Public Infrastructure
Multilateral Institutions for the 21 st century
Women-led development

India kick-started its presidency term agenda with a series of cultural initiatives that included various Jan Bhagidari activities , a special University Connect event with 75 educational institutions from across the country, the lighting up of 100 ASI monuments with the G20 logo and colours, and showcasing G20 at the Hombill festival in Nagaland . Sand artist Shri Sudarshan Pattnaik also created sand art of India's G20 logo on Puri beach in Odisha. Various other events, youth activities, cultural performances, and site excursions showcasing the sights and traditions of respective city-venues, are also planned throughout the year-long calendar.

For details : Visit

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Make Your Note

G20 and Opportunities of Better Global Governance

04 Aug 2023
12 min read
GS Paper - 2
Global Groupings
Important International Institutions
Groupings & Agreements Involving India and/or Affecting India's Interests

This editorial is based on The trajectory of progress must change which was published in The Hindu on 03/08/2023. It talks about the global governance systems and issues related to it.

For Prelims: SDGs, G20 , GDP , G-7 , Mission LiFE , COVID-19 Pandemic , Financial Stability Board , Paris Agreement

For Mains : Significance of Local Governance in Global Governance

The world is facing multiple crises of climate change, socio-economic inequality, poverty, and conflict. The current model of economic growth is not equitable. Mere economic growth will not solve the world’s problems; it needs to be sustainable and equitable too.

The G20, which represents 80% of the world’s GDP (Gross Domestic Product) and 2/3rd of the global population , is one of the most influential forum for global governance. However, it is at an impasse because the US wants its members to shut out Russia and China who it sees as obstacles in its personal gains. . India, as the chair of the G20, is not easily swayed by pressure from the G-7 and wants the G20 to concentrate on the agenda of 90% of humanity outside the G-7.

India, as chair of the G20, has offered a vision of Vasudhaiva Kutumbakam (One Earth, One Family, One Future) to bring all citizens of the world together and make the world better for everyone. India has also proposed an approach of LiFE (lifestyles for sustainable development) to the G20. It requires “coherent actions amongst stakeholders at all levels rooted in collective actions across society”. It also recognizes and amplifies the role of local communities, local and regional governments and traditional knowledge in supporting sustainable lifestyles.

What is the G20's Role in Shaping Global Governance?

Economic issues transcend national borders, necessitating coordinated efforts.
The G20 acts as a platform for major economies to discuss and align their economic policies, promoting global stability and growth.
The G20 accounts for more than 80% of world GDP, 75% of global trade.
The G20 emerged as a response to the 2008 financial crisis. Since then, it has played a critical role in crisis management by convening leaders to address immediate challenges and formulate strategies for recovery.
In response to the Covid-19 pandemic, G20 leaders held an Extraordinary Virtual Leaders' Summit to coordinate global efforts. They committed to supporting research, ensuring access to medical supplies, and sharing best practices.
The G20 aims to enhance the resilience and stability of the global financial system. It has pushed for reforms to financial institutions, regulations, and oversight mechanisms to prevent future crises.
The G20's commitment to financial regulation led to the establishment of the Financial Stability Board (FSB), which monitors and makes recommendations about the global financial system.
While not its primary mandate, the G20 addresses environmental issues and sustainable development. The group's decisions impact resource allocation, energy policies, and international climate commitments.
The G20 can set agendas and influence priorities on a global scale. Its discussions often drive international discourse and guide policies adopted by other international organizations.

What are the Challenges of Global Governance?

Countries have varied and often conflicting interests and priorities. Balancing these diverse perspectives while seeking common solutions can be immensely challenging.
Disagreements over climate change commitments in international agreements like the Paris Agreement showcase how countries' diverse interests hinder reaching common solutions.
Global governance requires coordinated action among numerous stakeholders, including governments, international organizations, non-governmental organizations (NGOs), and the private sector.
Unequal distribution of resources, both financial and technological, creates disparities in addressing global challenges.
Limited access to Covid-19 vaccines in low-income countries highlighted resource disparities and challenges in providing equitable global public goods.
Many global challenges are multifaceted, spanning economic, social, environmental, and political dimensions.
Addressing these issues requires comprehensive and integrated approaches that can be difficult to develop and implement.
Power imbalances among countries can lead to unequal influence in global governance processes.
Unequal representation in global decision-making bodies like the UN Security Council can lead to skewed priorities and resolutions.
Environmental issues, including climate change, require global cooperation to mitigate their impact. Disagreements over responsibility, mitigation strategies, and resource allocation hinder effective global responses.
The lack of consensus on climate finance commitments and emission reduction targets reflects the difficulty of achieving global cooperation on environmental issues.
Short political cycles and domestic pressures within individual countries may lead to decision-making that prioritizes immediate gains over long-term global benefits.
This short-term focus can hinder efforts to address complex, gradual challenges.
The G20 has a limited membership that excludes many countries and regions, which may undermine its legitimacy and representation.
Feud among member countries, some even major economies, also hinders better coordination at global level

How Strengthening Local Governance can Strengthen Global Governance?

Example: In rural areas, engaging local farmers in adopting climate-smart agriculture practices tailored to their environment boosts agricultural productivity and environmental conservation.
Example: Constructing water purification units in remote villages enhances health and hygiene, addressing clean water and health-related SDGs.
Promoting transparent decision-making processes involving local citizens, civic organizations, and elected representatives ensures that policies align with community needs, building trust and accountability.
Establishing platforms for local and international collaboration, knowledge exchange, and resource-sharing enables communities to collectively address challenges like climate change, poverty, and inequality.

How India is Changing the Trajectory of Progress?

Promoting a vision of Vasudhaiva Kutumbakam that respects diversity and fosters solidarity among nations and peoples.
Inspiring other countries to follow its example and learn from its successes and failures.
Besides these steps, the Government of India shall empower local communities and local governments to find and implement solutions to their own problems using their own resources and knowledge.

How G20 Can Strengthen Global Governance ?

The G20 should prioritize collaborative leadership, focusing on setting agendas that reflect the diverse interests of its member nations while also promoting sustainable development, equitable resource distribution, and global stability.
Regular dialogues and consultations can ensure that decisions made are inclusive and holistic.
This could involve incentivizing green investments , supporting renewable energy adoption , and encouraging circular economy models.
Member nations could also collectively commit to carbon neutrality targets and align their energy policies with the Paris Agreement.
Building upon its role in crisis management, the G20 should establish a framework for rapid response to global emergencies, whether financial, health-related, or environmental.
This framework could involve preemptive planning, information sharing, and coordinated resource allocation to ensure a swift and effective response to crises.
Investment in education, healthcare, and infrastructure can empower these countries to actively participate in global governance and contribute to sustainable solutions.
The G20 should encourage member nations to empower local communities by devolving decision-making powers and resources.
Support for participatory governance, capacity development at the local level, and mechanisms for sharing best practices can enhance the effectiveness of local initiatives in addressing global challenges.

Discuss the significance of local governance in global governance. Give examples of how local governance can contribute to solving global problems.

UPSC Civil Services Examination Previous Year’s Question (PYQs)

Q. In which one of the following groups are all the four countries members of G20? (2020)

(a) Argentina, Mexico, South Africa and Turkey (b) Australia, Canada, Malaysia and New Zealand (c) Brazil, Iran, Saudi Arabia and Vietnam (d) Indonesia, Japan, Singapore and South Korea

हिन्दी - Hindi
অসমীয়া - Assamese
বাংলা - Bengali
ગુજરાતી - Gujarati
ಕನ್ನಡ - Kannada
മലയാളം - Malayalam
मराठी - Marathi
ଓଡ଼ିଆ - Odia
ਪੰਜਾਬੀ - Punjabi
தமிழ் - Tamil
తెలుగు - Telugu

G20 Essay Competition

Selection criteria, points to remember, gratification, terms & conditions.

To invite students to share their ideas and visions for India’s G20 Presidency
To create awareness and enhance knowledge about India’s G20 Presidency
To increase understanding about India’s G20 Presidency
To encourage young Indians to relate to different parameters of G20.
Originality of thought and depth of knowledge
Quality of Content, Relevance to the topic.
Structure, articulation and writing style
The competition is open to only Indian Citizens.
The Essay can be submitted in either Hindi or English languages in the following categories/ age groups:

Category A	12 - 14 years of age
Category B	14 -16 years of age

The length of the Essay must not exceed 1500 words.
The Essay must be typed in an A-4 size MS word document using Arial font for English and Mangal font for Hindi, having size 12 with 1.5” spacing and should be submitted in the form of PDF.
The participants must be the same person who has written the essay. The Essay should reflect original thinking and presentation.

Start Date	1st June 2023
End Date	31st July 2023

The Competition is open to only Indian Citizens.
Category: 12 - 14 years of age
Category: 14 -16 years of age
All entries must be submitted through the MyGov.in portal only. Entries submitted through any other medium/mode will not be considered for evaluation.
A participant can submit only once. In case it is found that any participant has submitted more than one entry, all his/her entries will be considered as invalid.
The entry should be original. Copied entries or plagiarized entries will not be considered under the contest. Winning entries will also be suitably publicized by the G20 Secretariat/ Ministry of External Affairs.
There are no charges/registration fee for participation in the competition.
The Essay must be typed in an A-4 size MS word document using Arial font for English and Mangal font for Hindi, having size 12 with 1.5” spacing. The essay must be uploaded in the PDF format.
Please note that the Essay must be original and should not violate any provision of the Indian Copyright Act 1957. Anyone found infringing on others’ copyright would be disqualified from the competition. G20 Secretariat/Ministry of External Affairs does not bear any responsibility for copyright violations or infringements of intellectual property carried out by the participants.
Mention of the Author’s name /email etc., anywhere in the body of the essay will lead to disqualification.
G20 Secretariat/Ministry of External Affairs reserves the right to verify original documents such as proof of age etc., before awarding the prizes.
Participant is to make sure that their MyGov profile is accurate and updated since G20 Secretariat/Ministry of External Affairs would be using this for further communication. This includes details such as name, photo, complete postal address, email ID and phone number. Entries with incomplete profiles would not be considered.
The G20 Secretariat/Ministry of External Affairs reserve all the rights and any dispute, amendments or any issue related to this competition / guidelines / evaluation criteria etc., shall be decided by the G20 Secretariat/ Ministry of External Affairs which will be final and binding.
G20 Secretariat/Ministry of External Affairs reserves the right to cancel or amend all or any part of the competition/guidelines/evaluation criteria etc., at any time.
Any changes to the Terms and Conditions/ Technical Parameters/ Evaluation Criteria, or cancellation of the Contest, will be updated / posted on the MyGov platform. It would be the responsibility of the participants to keep themselves informed of any changes in the Term & Conditions/ Technical Parameters/ Evaluation Criteria stated for this Contest.
If any entry is found to violate the guidelines, it will be removed from the evaluation process without giving any intimation or explanation to the participant.
For Verification purposes original documents may be asked by G20 Secretariat/ MEA at any given point of time during the Competition process.
G20 Secretariat/Ministry of External Affairs shall have an exclusive, royalty-free, perpetual and irrevocable license to copy, store, edit, distribute, transmit and publish competition entries.
Decision of the Evaluation Committee will be final and binding on all participants.
Non- conformity to guidelines will lead to disqualification of the participants.

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G20 - India' Presidency

India assumed the presidency of the G20 grouping from Indonesia, on December 1, 2022, and held the post for a year. This gave India a unique opportunity to contribute to the global agenda on pressing issues of international importance. India’s presidency of the G20 ended in Dec 2023. Brazil took over the presidency from India and will hold the 2024 G20 summit at Rio de Janeiro in December.

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Recently G20 summits started focusing not only on macro economy and trade; but also on a wide range of global issues which have an immense impact on the global economy since globalization started progressing and various issues became more intricately intertwined. Those issues included overall development, climate change and energy, health, counter-terrorism, as well as migration and refugees.

The G20 has sought to realize an inclusive and sustainable world through its contributions towards resolving these global issues.

This is an important topic for the UPSC 2024 exam .


Argentina	Australia
Brazil	Canada
China	France
Germany	India
Indonesia	Italy
Japan	Mexico
Republic of Korea	Republic of South Africa
Russia	Saudi Arabia
Turkey	United Kingdom
United States of America	European Union (EU)

G20 India Presidency

India’s G20 logo juxtaposes planet Earth with the lotus, India’s national flower and the theme is ‘Vasudhaiva Kutumbakam’ or ‘One Earth-One Family-One Future’

The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue.
The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature.
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 “Amrit Kaal”, 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.

Image Source: pmindia.gov

Significance of India’s G20 Presidency :

G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
The G20 Leaders’ Summit at the level of Heads of State/Government is scheduled to be held on September 9 and 10, 2023 in New Delhi.
According to Prime Minister Modi, this term can be an opportunity for India to share its expertise with the world in areas of women empowerment, democracy and digital technologies.
As a country with core democratic values, India can show the world that the scope of conflict can come to an end when democracy becomes a culture. This gains significance amidst the ongoing Russia-Ukraine conflict .
India’s foreign policy is focusing on the ‘global common good’. Through its G20 leadership, India hopes to extend this principle towards finding sustainable solutions to some of the key global challenges emerging out of the interconnectedness of the world, such as climate change, new and emerging technologies, food and energy security, etc.
This would be the first time when the Troika would consist of three developing countries and emerging economies.
It is hoped that as a result there would be a shift in the balance of power within the G20 favouring emerging economies to have a greater share in decision-making at this grouping.
The G-20 Presidency presents a great opportunity for India to correct the long-standing anomalies that go against developing countries, especially in the domain of agriculture and food subsidies.

Read more on India’s G20 Presidency in the Sansad TV Perspective discussion .

G20 Summit 2022 – Indonesian Presidency

The G20 summit, the group’s first post-pandemic summit, recently took place in Bali, Indonesia , in the backdrop of the Russia-Ukraine crisis and a missile attack on Poland. The article gives a brief overview of the G20, highlights of the Bali summit and the significance of India’s G20 presidency.

Key Takeaways From G20 Summit 2022

Leaders also reaffirmed their ongoing commitment to fostering a robust and long-lasting recovery that advances and maintains universal health care.
They hailed the World Bank’s creation of the “Pandemic Fund,” a new financial intermediary fund for pandemic prevention, preparedness, and response.
The World Health Organization (WHO), with assistance from other international organisations, has reaffirmed the commitment of world leaders to strengthen global health governance.
Digital Transformation & Digital Literacy
Leaders have acknowledged the significance of digital transformation in achieving sustainable development goals.
They pushed for further global cooperation to boost digital literacy and skills in order to maximise the benefits of the digital transformation, particularly for women, girls and those who are vulnerable.
Climate Change: G20 leaders decided to continue their efforts to keep the rise in global temperature to 1.5 degrees Celsius, reaffirming their commitment to the temperature goal in Paris 2015 agreement on climate change.
Food Security: The leaders praised the Black Sea grains project and pledged to take coordinated action to solve problems concerning food security.
Focus on the Global Economy: In a departure from last year’s focus on healing the wounds left by the Covid-19 outbreak, the G20 economies agreed in their declaration to pace interest rate rises cautiously to avoid spillovers and warned of “increasing volatility” in currency fluctuations.
Member nations issued a statement condemning Russia’s aggression in Ukraine “in the strongest terms” and calling for an immediate and complete withdrawal.
They also acknowledged that although the majority of members had expressed their opposition to the war in Ukraine, “there were different opinions and differing assessments of the situation and sanctions.”
A summit of this size will be held for the first time in the nation in New Delhi on September 9 and 10, 2023.
According to the Indian Prime Minister, India’s G20 chairmanship theme of “One Earth, One Family, One Future” will be reflected in its inclusive, ambitious, definite, and action-oriented presidency.

Challenges For G20 Countries

Rising Geopolitical Rifts: The global economy is having trouble coping with rising geopolitical rifts like the conflict between the world’s two largest economies, the US and China, or the drop in trade between the UK and the euro area following the Brexit vote.
Slow Down Of Major Economies: China, one of the main drivers of global economy, is currently experiencing a severe slowdown as a result of its ongoing real estate crisis.
Expected Recession: While some of the world’s largest economies, including the US and the UK, are expected to experience a recession, others, like countries in the euro area, are more likely to experience a slowdown or even a standstill.
Persistent High Inflation: Consistently rising inflation, which is reaching historic highs in a number of countries, has reduced purchasing power globally, slowing down economic growth.
Impact of Russia’s Invasion of Ukraine: In addition to greatly increasing geopolitical ambiguity, Russia’s invasion of Ukraine has also significantly increased worldwide inflation. The associated Western sanctions have made the situation worse. Read in detail about the Russia-Ukraine Conflict in the linked article.
Impact of Rising Inflation: Central banks around the world have hiked interest rates in response to the high inflation, which has further slowed down economic activity .

Indian Presidency in 2023

The G20 Presidency for 2023 will pass to India. India will take over the G20 Presidency on December 1st, 2022.

India will host nearly 200 meetings in 32 different sectors at various places all over the nation while it holds the G20 presidency.
G20 Theme : “Vasudhaiva Kutumba-Kam,” or “One Earth, One Family, One Future,” is the focus of India’s G20 Presidency.
India will work to ensure that there is “just one world,” not a “first world or third world.”
The G20 Theme embodies India’s efforts to realise its vision of uniting the entire world in pursuit of a common goal and a better future.

The importance of India holding the 2023 Summit is given below:

India’s G20 Presidency is a special opportunity for India to contribute to the global agenda on urgent issues of global significance.
The first step toward a new world order for the post-Covid age was to build an international agreement on reforming multilateral organisations like the UN.
It is an opportunity to take on the role of Global South leader.
The increasing importance of G20 in a world where issues like global warming, the COVID-19 pandemic and the conflict in Ukraine are pressing issues.

The purpose of establishing G20 is to create an atmosphere that supports equitable global growth and development. They bring together the most powerful economies in the world, both developed and emerging, to talk about global financial and economic stability. However, the way forward to tackle the present situation is:

Governments must find measures to assist the vulnerable without necessarily increasing debt levels. The need to closely monitor external risks would be a major issue in this regard.
The G20 leaders must advocate for “more open, stable, and transparent rules-based commerce” in order to alleviate the world’s supply shortages.
Increasing the global value chains’ resilience would assist safeguard against upcoming shocks.
Keeping the blazing inflation under control is the G-20’s top priority.
A strong, sustained, balanced, and inclusive recovery necessitates G-20 cooperation, and this cooperation necessitates not only maintaining peace in Ukraine but also “helping prevent future division”.

The topic has a very high chance of being asked as a UPSC Prelims International Relations Question or as a Current Affairs Question as it has been in the news recently.

G20 Summit 2021 – Italian Presidency

The Italian Presidency – Italy held the Presidency of the G20 Summit 2021 since December 1st 2020. The Summit was held in Rome on October 30th and 31st 2021.

The last G20 Summit was held on 21 and 22 November 2020 virtually (due to COVID -19 pandemic) under the presidency of Saudi Arabia. India in the g20 summit called for a ‘New Global Index’ that will be based on the following our pillars; Technology, Talent, Transparency, and Trusteeship towards the planet.

The agenda of the Italian Presidency (G20 Summit 2021) rests upon three main pillars: People, Planet, Prosperity.

Eradicating poverty, as mandated by the first Sustainable Development Goal (SDG) of the United Nations . Read more on Sustainable Development Goals on the linked page.
Tackling inequality, which has been rising over the past decades and even more during COVID times.
Building a more inclusive global society that means protecting the most vulnerable such as young people, precarious workers, small and medium enterprises; promoting women’s empowerment; ensuring universal access to education; redistributing opportunities within countries, and decreasing disparities between regions.

Aspirants can go through the following links for detailed information –

A firm commitment to address key issues such as climate change, land degradation, biodiversity loss and the achievement of the Sustainable Development Goals enshrined in Agenda 2030.
A transition towards renewable energies and a green recovery, with a focus on modern, “smart” cities, is essential and is among the main priorities promoted by the Italian Presidency.
The G20 will also pave the way towards the 26th Conference of the Parties of the UNFCCC (COP26), a key milestone in the global fight against climate change, which will be co-hosted by Italy and the United Kingdom. Read in detail on the United Nations Framework Convention on Climate Change – UNFCCC on the linked page.

Check out the following links for further details –

reducing the digital divide, promoting infrastructural developments able to guarantee universal internet access, and achieving adequate and widespread digital literacy. Read about the Digital Divide in India on the linked page.
exploiting the full potential of the technological revolution to concretely improve the living conditions of citizens all over the world
making health services more effective; facilitate data sharing to strengthen global pandemic preparedness and response, enhance the reach of educational activities, agile and flexible working models, a better work-life balance for both men and women; improve the efficiency of energy distribution networks, etc.

Read the information provided on the following links to prepare even better –

History of G20

When the Asian Financial Crisis of 1997-1998 ended, it was acknowledged that the participation of major emerging market countries was necessary for a discussion on the international financial system. Hence, the G7 Finance ministers agree to establish the G20 Finance Ministers and Central Bank Governors meeting in 1999.

The meeting of G20 Finance ministers and the Central Bank Governors was centred on major economic and monetary policy issues amongst major countries in the global financial system. Their aim was to promote cooperation towards achieving stable and sustainable global economic growth for the benefit of all countries.

They upgraded to the head of the state level, as a forum for leaders from major developed and emerging market countries. In September 2009, the third summit was held in Pittsburgh where the leaders designated the G20 as the “premier forum for international economic cooperation.” The summit meetings were, henceforth held semiannually until 2010 and annually from 2011 onwards.

What is G20+?

The G20 developing nations, also called G21/G23/G20+ is a bloc of developing nations which was established on August 20, 2003. It is distinct from the G20 major economies.

The G20+ originated in September 2003 at the 5th ministerial conference of the WTO held at Cancun, Mexico.
Its origins can be traced to the Brasilia Declaration signed by the foreign ministers of India, Brazil and South Africa on 6th June 2003.
The declaration stated that the major economies were still practising protectionist policies especially in sectors they were less competitive in and that it was important to see to it that the trade negotiations that took place provided for the reversal of those policies.
The G20+ is responsible for 60% of the world population, 26% of the world’s agricultural exports and 70% of its farmers.

What did India do in the G20 2019 Summit?


	Japanese PM Shinzo Abe	Defence, digital economy, infrastructure, space, and startups. Click here to know more about .
	American President Donald Trump	The situation with Iran, trade tariffs, defence, and 5G communication network & data storage. to know more about Indo- American relations
	President Joko Widodo of Indonesia	Ways to deepen India-Indonesia cooperation in a host of sectors
	Brazilian President Jair M. Bolsonaro	Means to improve business linkages and overcome climate change.
	President Recep Tayyip Erdogan of Turkey	Building a strong development partnership between the two nations.
	Australian Prime Minister Scott Morrison	Ways to expand cooperation in a range of sectors.
	Crown Prince Mohammed bin Salman of Saudi Arabia	To strengthen bilateral ties between the two nations and discussing energy security.
	South Korean President Moon Jae-in	to enhance trade, economic, and people-to-people relations.
	German Chancellor Angela Merkel	means to diversify and deepen Indo-German ties in areas like cybersecurity and AI.
	The World Bank, UNSG, Thailand, Vietnam, France, Italy, Singapore, and Chile.
	Japan – America – India (JAI)	Issues related to Indo-Pacific region, connectivity and infrastructure development, peace & security.
	Russia – India – China (RIC)	Promotion of counter-terrorism, reformed multilateralism, climate change, and international hot-spot issues.
	nations – Brazil, Russia, India, China, & South Africa	A series of global issues and concerns.
	PM Modi interacted with the Indians living in Japan.

Upcoming G20 summits


2023	India
2024	Brazil
2025	South Africa

Also, Read| India’s relations with France and its significance for UPSC Exam

FAQ about G20

What is the purpose of g20, what are g20 countries, what distinguishes the g7 from the g20, where did the 17th g20 summit take place.

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By Team StudyGrades. October 17, 2023. Essay on G20 Summit- The G20 Summit is an annual gathering of leaders from the world's largest economies and the European Union. It serves as a critical forum for international economic cooperation and development. Established in 1999, the G20 Summit plays a significant role in shaping the global ...
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The G20 group was introduced in the year 1999. Essay on G20 Summit- 100, 200, and 500 words 4. Connect with us on WhatsApp. In 2023, India was the presidential candidate of the G20, which was held in September. The next edition of G20 will be held in Rio De Janeiro, Brazil. The other critical details about the G20 we have shared are in essay ...
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