essay on g20 essay in english

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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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 22 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.

Important Links

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:

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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Essay on G20

Students are often asked to write an essay on G20 in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on G20

Introduction.

G20, short for Group of Twenty, is an international forum for governments and central bank governors. It consists of 19 countries and the European Union.

Members of G20

The member 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.

Importance of G20

The G20 was formed to discuss policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization.

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250 Words Essay on G20

Introduction to g20.

The Group of Twenty (G20) is an international forum for the governments and central bank governors from 19 countries and the European Union. Established in 1999, the G20 aims to discuss policy issues pertaining to the promotion of international financial stability.

Member Countries and Influence

The G20 members include a mix of the world’s largest advanced and emerging economies, representing about two-thirds of the world’s population, 85% of global gross domestic product, and over 75% of global trade. The influence of the G20 extends beyond its core members due to its economic and political weight.

Role and Function

The primary role of the G20 is to prevent future international financial crises. It seeks to shape the global economic agenda, by fostering dialogue amongst key countries within the global economic system. The G20 has no permanent staff or headquarters, making it a flexible and informal forum.

Significance and Criticism

The G20’s significance lies in its capacity to facilitate international economic cooperation. However, it has been criticized for its lack of transparency, accountability, and representation of smaller or less developed countries.

Despite its criticisms, the G20 remains an important platform for dialogue and decision-making at the highest levels of government and central banking. Its ability to adapt and respond to global economic challenges will continue to shape its relevance in the years to come.

500 Words Essay on G20

The Group of Twenty, popularly known as G20, is an international forum for governments and central bank governors from 19 countries and the European Union. Established in 1999, the G20 aims to discuss policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization.

Member Nations and Structure

The G20 comprises 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, and the European Union. These economies represent around 85% of the gross world product (GWP), 80% of world trade, two-thirds of the world population, and approximately half of the world’s land area. The G20 operates without a permanent secretariat or staff, and its chairmanship rotates annually among its members.

Role and Importance

The G20 plays a pivotal role in global economic governance. Amidst the global financial crisis of 2008, the G20 was instrumental in preventing the global economy from slipping into a depression. It did so by coordinating national fiscal stimulus packages, enhancing the resources of international financial institutions, and initiating a financial sector reform agenda.

Challenges and Criticisms

Despite its significant role, the G20 has been criticized for its lack of representation and transparency. Critics argue that many countries, especially those from Africa, are underrepresented. Furthermore, decisions are often made behind closed doors, with little input from non-member countries. The G20’s effectiveness has also been questioned given the persisting global economic imbalances and the lack of enforceability of its decisions.

Future of G20

The future of the G20 hinges on its ability to adapt and respond to global challenges. Climate change, income inequality, and digital transformation are just a few issues that require a coordinated international response. The G20’s capacity to effectively address these issues will determine its relevance in the coming years.

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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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Paragraph on G20 in English (100, 150, 200, 250 Words)

The G20, comprising twenty major economies worldwide, serves as a crucial forum for addressing global economic challenges. With its significant influence on the global economic landscape, the G20 plays a pivotal role in fostering dialogue, cooperation, and policy coordination among its member countries.

(Here, we’ve presented paragraphs in 100, 150, 200 & 250 word samples. All the paragraphs will be helpful for students of all classes i.e. Nursery, LKG, UKG & class 1 to class 12).

Table of Contents

Paragraph on G20 in 100 Words

The G20 is a group where leaders from different countries meet to discuss important global issues. It includes both rich and developing nations. They talk about things like the economy, trade, and climate change. The goal is to find solutions that benefit everyone. It started in 1999 in response to financial crises. Meetings happen once a year, hosted by different member countries. Each country has a chance to share its views and concerns. The G20 aims to promote stability and growth worldwide. It’s a platform for cooperation and collaboration among nations.

The G20 is a group of countries that come together to discuss global economic issues. It includes big economies like the USA, China, and Japan, along with others like Brazil and India. They meet once a year to talk about things like trade, finance, and development. The goal is to find ways to improve the world economy and help everyone grow. Each country sends its leaders or top officials to these meetings. Together, they try to solve problems and make plans for the future. The G20 plays an important role in shaping the global economy and promoting cooperation among nations.

The G20 is a gathering of twenty countries aiming to discuss global economic concerns. Among its members are significant economies such as the United States, China, and Japan, alongside others like Brazil and India. They convene annually to address trade, finance, and development matters. Their objective is to enhance the world economy and foster collective growth. Representatives, including leaders or high-ranking officials, attend these sessions. Collaboratively, they strive to resolve issues and devise strategies for the future. The G20 holds significance in shaping the global economic landscape and fostering international collaboration.

G20 Paragraph in 150 Words

The G20 serves as a crucial platform for addressing pressing global economic challenges. Comprising major economies like the United States, China, and the European Union, alongside emerging powers such as Brazil and India, it represents a diverse array of interests.

The forum convenes annually, enabling member nations to deliberate on issues ranging from trade imbalances to financial stability and sustainable development. By fostering dialogue among key stakeholders, the G20 seeks to promote cooperation and coordination on economic policies, aiming for inclusive growth and prosperity.

Furthermore, the G20 plays a pivotal role in crisis management, as witnessed during the 2008 financial meltdown when concerted efforts were made to stabilize markets and restore confidence. Moreover, the forum’s commitment to multilateralism underscores its significance in navigating complex geopolitical landscapes and mitigating risks to the global economy.

As the world becomes increasingly interconnected, the G20’s role in shaping the trajectory of international economic governance remains indispensable, emphasizing the need for continued collaboration and dialogue among its members.

Paragraph Writing on G20 in 200 Words

The G20, short for Group of Twenty, stands as a crucial platform for international economic cooperation. Comprising 19 countries and the European Union, it includes both advanced and emerging economies, representing a significant portion of global GDP and population. One of its paramount roles is addressing pressing economic challenges that transcend national borders. Discussions within the G20 encompass a wide array of topics, ranging from trade and finance to sustainable development and climate change mitigation.

Trade forms a cornerstone of G20 discussions, with member nations aiming to promote open, fair, and inclusive trade practices. By fostering cooperation and dialogue, the G20 endeavors to reduce trade barriers and enhance global economic integration. Furthermore, the G20 plays a pivotal role in steering global financial stability. Particularly crucial in the aftermath of the 2008 financial crisis, the group focuses on regulatory reforms and financial resilience to prevent future crises.

Another significant aspect of the G20’s agenda is sustainable development. With the world facing pressing environmental challenges and socio-economic inequalities, the G20 seeks to address issues such as poverty alleviation, access to education and healthcare, and gender equality. Moreover, climate change mitigation and adaptation feature prominently in G20 discussions, reflecting the group’s recognition of the urgency to combat this global threat.

The G20 also serves as a forum for coordination on global governance issues. By fostering dialogue among member nations, the G20 aims to promote effective and inclusive multilateralism. This includes cooperation on international institutions such as the United Nations, IMF, and World Bank, as well as addressing geopolitical tensions and conflicts that could impact global stability.

In conclusion, the G20 stands as a vital forum for addressing pressing global economic challenges and fostering international cooperation. Its discussions encompass trade, finance, sustainable development, global governance, and geopolitical issues, reflecting the diverse array of challenges facing the international community. Through dialogue and collaboration, the G20 strives to promote economic stability, sustainable development, and prosperity for all.   

Writing Paragraph on G20 in 250 Words

The G20, comprising the world’s major economies, serves as a pivotal platform for addressing pressing global economic challenges. Since its inception in 1999, its prominence has grown, particularly after the 2008 financial crisis, when it transformed from a forum for finance ministers and central bank governors to a platform for heads of state and government. With its member countries accounting for approximately 85% of global GDP and two-thirds of the world’s population, the G20 holds considerable sway over the global economic landscape.

One of the primary functions of the G20 is to facilitate dialogue and cooperation on economic policy coordination among its members. This coordination is crucial for ensuring stability in global financial markets and fostering sustainable economic growth. For instance, during the COVID-19 pandemic, the G20 played a crucial role in coordinating responses to mitigate the economic fallout, including fiscal stimulus measures and debt relief initiatives.

Another key aspect of the G20’s agenda is promoting international trade and investment. According to data from the World Trade Organization (WTO), G20 countries collectively account for around 75% of global trade. Thus, decisions made within the G20 regarding trade policies and agreements can have far-reaching implications for the global economy. Efforts to reduce trade barriers and enhance market access are often discussed within this forum to stimulate economic activity and job creation.

Additionally, the G20 focuses on addressing global development challenges, particularly those related to poverty alleviation, infrastructure investment, and sustainable development. According to the World Bank, G20 countries provide approximately 80% of global development assistance. As such, the G20 plays a crucial role in shaping the global development agenda and mobilizing resources to tackle pressing issues such as climate change and inequality.

Furthermore, the G20 serves as a platform for addressing financial regulation and reform to prevent future financial crises. Measures to strengthen the resilience of the global financial system, enhance regulatory oversight, and promote transparency are often discussed and agreed upon within this forum.

Moreover, the G20 emphasizes the importance of inclusive growth and ensuring that the benefits of economic progress are shared equitably among all segments of society. This includes addressing issues such as income inequality, gender disparities, and access to education and healthcare.

In conclusion, the G20 plays a central role in shaping the global economic agenda and fostering cooperation among its member countries. By addressing key economic challenges, promoting trade and investment, and advancing development goals, the G20 contributes to stability and prosperity on a global scale.

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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 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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G20 Summit and Global Economic Governance Research Paper

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Working Thesis

Potential argument, hypothesis: use of technology to cut on the costs of the g20 summit, unfulfilled promises, defenders of self interest, the financial stability board, works cited.

The Group of Twenty (G20) summit was established in 1999 following the financial crisis of the late 20th century that affected, especially, Asia (Arner and Schou-Zibell). It consists of twenty Ministers of finance and Governors of Central banks from both emerging-market countries and developed economies (Edkins and Zehfuss). Its first meeting was held in Berlin, Germany, in December 1999. One of the reasons why the G20 summit came into existence was the realization that important emerging-market countries the world over had not been given a forum to discuss economic and governance issues on the world stage. Its mandate is to promote discussion and review of policies between industrialized and emerging-market countries (Blustein).

Before the emergence of the G20 summit, there had been many other similar summits that had come up with an aim of promoting dialogue on issues of governance and economics. These summits ideally came into existence to build financial growth, development, and structure in international relations. They included the G-7, G-22, and G-33 (Dunne and Smith). The larger groups, G-22 and G-33, demonstrated that there were benefits in involving emerging-market countries in regular consultations, leading to the formation of the G20. Unlike other international organizations, the G20 does not have a permanent secretariat and it promotes the informal interchange of ideas and views on international issues (Dunne and Smith).

Each year the summit is held in a different country and in June 2010 it was Toronto’s turn to hold the three-day event. The leaders of the 20 countries would participate in the discussion regarding financial sustainability (Lagarde 078-079). The 20 countries that would be involved are the following: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, United Kingdom and the United States of America. Also in attendance at the G20 summit would be the International Monetary fund’s (IMF) managing director, the World Bank president, and chairpersons several other international committees like the development committee and the International Monetary and financial committee (Samans, Uzan, and Lopez). Their presence is due to the close cooperation between G20 and other international organizations.

Looking at all the countries listed, it is important to note that they are all economically independent and this summit does lack the participation of third world countries. This might mean that the issues afflicting the underdeveloped countries may not be given weight in the G20 summit since there is no one to push for them, except for times when some representatives from such countries are invited, but in such cases, they may not have much of bargaining power like the representatives of the member countries (Brunswick and Evenett 269).

The main purpose of the G20 summit was to have the top 20 economically independent countries come together in hopes to legitimize economic structure around the globe, but this holds to be contradictory. The Toronto G20 summit was focusing on recovery and new beginnings as its theme. In this summit, issues to do with financial reform progress and the development of stimulus measures that are sustainable were discussed. Issues of bank tax and promotion of open markets world over were also debated (Dvorak). However, the following facts should be considered when referring to the Toronto G20 summit and its overall impact on enhancing better world economy. The summit was nothing more than a media frenzy that didn’t need the amount of attention that it received. This three day event cost Canada and the tax payers a billion dollars (Msnb). It was held in one of the busiest places in Canada and therefore affected the day to day activities of many people and ventures (Dvorak). One of the most important factors this essay will study is G20, like many of the other summits before it, has yet again accomplished very little as compared to the time and money spent on the event.

The G20 summit cost Canadian taxpayers a billion dollars. What was the billion dollars spent on lingered in the minds of most Canadians. Statements by the Parliamentary office demonstrated that the summit had cost Canadians 930 million dollars in safety measures only. This security operation was the most expensive in the history of Canada. Together with other hosting costs including nearly 2 million dollars for marketing and media, the total amount comes to about 1 billion dollars. When looking at these figures and those of other G20 summit meetings, it is very astonishing to see how much of the taxpayers’ money was spent on security alone and the question whether this was necessary lingers on, bearing in mind that some people in third world countries are in need of aid (Msnb).

The meeting was held in downtown Toronto, one of the busiest areas, and this affected residence, business, employees, pedestrians, transit riders, cyclists, motorists, students, those leaving town, the homeless, and lastly the tourist (Dvorak). One of the biggest tourist attractions, The CN tower, was closed for the summit. Although this attraction was only closed for a 3 days, it would negatively impact on Canada’s economy as it is a daily income generating site (Gothamist). The summit was rocked by widespread protests which stated several days prior to the summit. These protests were part of the reason for the expenses incurred on security measures. They also served to worsen an already bad situation for day to day activities for residents and business ventures as more than 900 people were arrested within a week, some streets were closed down and some buildings attacked. This further heightened the economic burden that came with hosting the G20 summit (Dvorak).

What comes out of this summit? Twenty large economies came together, for a three day affair, but one must essentially wonder what changes were made in previous summits and this past G20 summit. The G20 summit held in Toronto came to the conclusion that these represented economies should keep more financial capital in their banks in case of economic upsets in the future. The developed nations’ leaders also agreed on debt-to-GDP ratio reduction by the year 2016 as well as taxing financial institutions. The need for the capital reserve was to have restrictions on many of the countries that did not have them in place already, which resulted in the recession of 2009. The United States, which did not hold any restrictions on their banks, resulted in many banks as well as economy to go downhill (Lagande, 078-079).

Although it is apparent that this meeting was needed, one may ask: was the cost worth it? The 20 countries that did participate in the summit are already economically independent, which is one of the reasons protesters feel that the G20 summit is a waste of time and money (Brusick and Evenett 269). The issues that the third world countries are mostly concerned with, namely food security and climate change did not get a significant resolution during this summit. It is due to this that Protestors believe that the summit is only helping the economically successful countries gain more success instead of helping the third world countries that need the help (Brusick and Evenett 269). The results were the enduring cycle of the wealthy getting wealthier as well as the underprivileged getting more pitiable. At the end of the meeting, joblessness remains a challenge to those in underdeveloped countries and due to this they continue to suffer in poverty (Coats, Hutton and razarelli).

It is tradition to do these summits in person as seen in the G20 summit and many of the previous summits, but with the changing economy and technology it would be more efficient to have such summits in another manner which would cut cost especially in security, infrastructure, travel and accommodation. This would also make sure that the day to day activities of hosting countries, including businesses and other income generating ventures like tourism are not interfered with (Dvorak). The media has a large part in the amount of security that is needed in such political events. If the summit had been done in other technological means without attracting the attention of protestors little or no security would be needed. The destructive effects of protests, both to the economy and security of the country, would be avoided (Gothamist). With society changing and technology advancing 20 people don’t have to be in the same place at the same time to discuss world matters. This would also protect against excessive media coverage of a highly political event. The net effect would be a significant cut in the cost of holding the G20 summit. The saved finances would then be focused on other issues like provision of basic needs to those who lack them.

Since the summit was held in Toronto, there have been 94 protectionist measures implemented by the G20 member governments, with just 44 of similar measures being implemented by the rest of the world (Evenett 22). The world over, there has been 100 neutral measures formulated and implemented since June 2010, with G20 member countries implementing only 29% of these (Evenett 22). This shows a serious mismatch between what the G20 summit concludes and the action taken by the member countries. If this is the trend, is there a need to spend so much money on G20 summit to make resolutions that will not be followed by those making them? This question needs to be answered for the need for and the importance of the G20 summit to be ascertained.

It is clear that governments which are not members of the G20 summit are better at keeping markets open than those who made the resolution to do so in Toronto. There is a great mismatch between word and action of the developed countries. The same governments that spoke of their desire to promote development by encouraging trade between them and the third world countries are instead harming these poor countries through their protectionist measures (Evenett 22). The G20 members are ranked top among countries that have caused economic harm to their lesser trading partners (Evenett 23).

The following table shows the biggest targets of discriminatory measures at different times before and after the summit (Evenett 25).

Table 1: Highest targets of discriminatory measures

The table below shows by rank the countries that have inflicted the most harm to others. It shows that the economically stable countries of the G20 are in the forefront of inflicting harm to their trading partners (Evenett 26).

Table 2: Rank of countries inflicting the most harm

As seen in the G20 meetings in Washington and London, the member countries showed that they can act together on serious issues affecting them, like the financial recession. The nations demonstrated their willingness to engage in any actions necessary in a bid to stabilize their financial systems (Blustein and Prasad). Such actions included nationalization of banks and creation of insurance schemes that would help clear toxic debts as well as availing bail-outs. There was also reduction of interest rates as a policy measure to boost the economic recovery process. These economic heavy weights encouraged support of their development agenda by the World Bank through its new infrastructure as well as trade finance facilities (Lagande 078-079). They also resolved to strengthen regulatory regimes as they did for financial markets in a bid to prevent further economic crises. During the Washington G20 meeting, the member countries stressed the importance of assisting the poorest countries in the world to develop. Emerging economies would also be helped to get finances through the IMF and development banks. The intent to help the poor countries seems noble and would momentarily bring an illusion of relief to these countries, but the developed countries just stressed the importance of helping them with no commitment or plans of doing so being drawn (Brusick and Evenett).

From these summits, it is clear that the developed countries can act in haste when matters affecting them directly arise and they defend their interests with whatever action that is necessary. It cannot be expected that they react with the same zest when there are issues affecting the poor countries, but at least including the in the membership of the G20 would give them a forum to push for consideration of those problems afflicting them (Brusick and Evenett).

The financial stability board (FSB) came up as a result of re-establishment of what was formerly known as the Financial Stability Forum (FSF) during the G20 meeting in London. It was mandated with the task of promoting financial stability among the G20 member countries, but its coverage extends to cover the European commission and Spain. The FSB monitors and advises the member countries on issues to do with market development, highlighting the possible effects on regulatory policy. It undertakes strategic reviews of the work on policy development done by standard setting institutions in an effort to ensure timely and coordinated focus on priorities that cover financial gaps (Samans, Uzan and Lopez). It also comes up with guidelines and support for supervisory colleges’ establishment and operation by identifying the most important and systemically appropriate cross-border firms. It then coordinates planning to manage cross-border crisis with reference to the identified important cross-border firms. In conjunction with the IMF, the FSB identifies early warning signs of financial risks and recommends actions that can be used to deal with the threat.

The FSB is therefore concerned about the financial welfare of the G20 member countries which, as earlier indicated, comprise of the world’s greatest economies and upcoming promising economies. This further proves the theory earlier generated that the process adopted by the G20 seeks to safeguard the rich and make them richer while the poor remain in poverty. The developing countries could benefit significantly from the services of the FSB in helping them from their financial difficulties through strategic planning (Brusick and Evenett).

From the text presented in this paper, it can be concluded that the G20 summit is necessary for handling the economic and governance issues of the member countries. The summit provides a forum in which matters of global importance are discussed and solutions formulated. It also works hand in hand with other global organizations like the World Bank and the IMF to facilitate solutions to various challenges. Through the FSB, it helps identify economic warnings early enough for preventive measures to be put in place. Therefore, the importance of the G20 summit cannot be underestimated (Blustein and Prasad).

However, the G20 summit has its blemish on different areas. First, its organization and operation of meetings is too expensive, as seen in the 2010 Toronto summit in which approximately 1 billion dollars was used, most of it going to security. This leaves the desire for a way to change how these summits are done in a bid to cut the costs and direct the funds to other areas which are more critical, like helping poor countries develop (Brusick and Evenett).

It is apparent that the G20 summit does not concentrate on issues that do not affect the member countries directly as much as they concentrate on those issues directly affecting them. Since the membership of the G20 does not include poor third world countries, this means that issues affecting them are not given weight for them to be attended to well and solutions found (Brusick and Evenett).

The G20 summit continues to use a lot of money on issues like organising meetings while the poor countries of the world suffer in poverty. Though the G20 is necessary, something should be done on its membership to involve third world countries and cut down the cost of running it (Blustein and Prasad).

Arner, Douglas, and Lotte Schou-Zibell. Asian regulatory responses to the Global Financial Crisis: Global journal of emerging market economies , 3, 1 (2011): 135- 169.

Blustein, Paul, and Eswar Prasad. Recovery or relapse: the role of the G20 in the global economy. Washington D.C: global economy and development at Brookings, 2010.

Brusick, Philippe, and Simon J. Evenett. “Should the developing countries worry about abuse of dominant power?” Wisconsin law review , 2 (2008): 269.

Coats, David, Will Hutton, and Matteo Razzanell. Tackling the global jobs crisis: Why the G20 summit matters . London: The Work Foundation, 2009.

Dunne, Timothy, Milja Kurki, and Steve Smith. International relations theories. New York: Oxford University Press, 2010.

Dvorak, Phred. “Toronto Locks Down for G-20 Summit”. The Wall Street Journal. Dow Jones and Company Inc. 2011.

Edkins, John. and Zehfuss, Michael. Global politics. London : Routledge, 2009.

Evenett , Slyst. Broken promises: a G20 summit report by global trade alert. London: centre for Economic Policy research, 2009.

Msnb . G-20 Summit: ‘$1 Billion Boondoggle?’ 2011. WEB.

Gothamist LLC . How will the G-20 affect everyone, From Cyclists and Tourists . 2011.

Lagande, Charles. “How the G20 must unite to stave off further global financial crises.” business week- New York, 4149 ( 2009): 078-079.

Samans, Richard, Marc Uzan, and Augusto López-Claros.. The international monetary system, the IMF, and the G20: a great transformation in the making? Basing stoke: Palgrave Macmillan, 2007.

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What Does the G20 Do?

• 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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Essay on Group of twenty (G20)

Essay – group of twenty (g20).

Group of twenty (G20) Essay: The group of twenty or G20 is the premier level intergovernmental forum to manage international economic actions with cooperation of all member countries. The forum plays significant role in monitoring and strengthening major economic issues all over the world. India holds the presidency for G20 forum for 20222 which will occur from December 1 2022 to November 30 2023. The theme of G20 presidency by India is confirmed as “VasudhaivaKutumbakam” or “one Earth. Our family. One future.” India is all set with its structured strategies for successful economic actions of G20. In the present essay, all the aims and work procedures of G20 will be discussed.

Members of G20:

Main initiatives of g20:.

The G20 presidency presents the entire G20 agenda for one long year by hosting the summit first. The G20 is divided into two parts which are finance track and Sherpa track. The finance track is maintained by finance ministry, ministers and banks which the Sherpa track is regulated by Sherpa track. Sherpas from member countries also take part in Sherpa track who are personal emissaries of the leaders. During each presidency the working groups of different member countries meet to work together on accomplishing the objectives. In the Sherpa track, member countries follow the same strategy to complete the tasks as per the formulated agenda. There are also additional groups to support financial activities like civil societies, think tanks, parliamentarians, women, youth group, labour, business and researchers’ group from the G20 countries. The G20 group is supported by the Troika as it does not have a permanent secretariat and it includes the previous, present and upcoming presidency of G20. Like this time of India’s presidency the troika will be formed by India, Indonesia and Brazil together.

Planned priorities:

Conclusion:.

Being Indians it is proud moment for us when India is presenting the G20 presidency summit with its full agenda. In the summit program, India showcased many of its traditional and cultural events in the global platform which proved the diversity of India. All the aims and objectives of the G20 agenda are announced and discussed with member countries’ views. We are hopeful that we will get positive outcome of present G20 summit in financial section and services soon.

FAQs on Group of twenty (G20) Essay Writing:

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Altoona English professor’s poems and essay featured in 'Just YA' anthology

Erin Murphy, professor of English at Penn State Altoona, has three original works published in a new anthology of contemporary literature for young adults. “Just YA: Short Poems, Stories, and Essays,” edited by Sarah Donovan, is designed for teachers of grades 7 through 12. The book includes a teacher’s guide and is organized around the themes of identity, love, place, justice, and the future.   Credit: Penn State . Creative Commons

September 24, 2024

ALTOONA, Pa. — Erin Murphy, professor of English at Penn State Altoona, has three original works published in a new anthology of contemporary literature for young adults.

“Just YA: Short Poems, Stories, and Essays,” edited by Sarah Donovan, is designed for teachers of grades seven through 12. The book includes a teacher’s guide and is organized around the themes of identity, love, place, justice and the future.

Murphy’s featured works include “Erased,” an erasure poem about climate change; “Illuminated,” a poem about social media; and “Slow Burn,” a creative nonfiction essay about family and mental health.

“Just YA” is published as an open-access book, which means that all content is free of charge and available online. Interested teachers and readers may download the anthology from the anthology website .

“Just YA” is a “rich anthology … with an emphasis on currency and relevance missing from commercial textbooks,” writes educator Wendy Stephens, adding that the book is “an incredible resource with immediate curricular application and more than fifty pages of ideas for instructional support.”

Murphy is the author or editor of more than a dozen books, chapbooks and anthologies, with two additional books forthcoming from Salmon Poetry and Wesleyan University Press. She is the Poet Laureate of Blair County and is currently serving as Penn State’s inaugural Mellon Academic Leadership Fellow for the Big Ten Academic Alliance. You can read more about her work on the author's website .

Marissa Carney

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EDITORIAL ANALYSIS : India’s G20 Presidency

Source: Indian Express, The Hindu

• Prelims: Current events of international importance, G20, Global south, Inflation etc.
• Mains GS Paper II & III: Significance of G20 countries, Bilateral, regional and global grouping and agreements involving India or affecting India’s interests.

ARTICLE HIGHLIGHTS

• The Prime Minister said that India looks forward to a Presidency of healing, harmony and hope.
• Charles Dickens novel-A Tale of Two Cities : “It was the best of times, it was the worst of times… it was the spring of hope, it was the winter of despair.”

INSIGHTS ON THE ISSUE

• The G20 is an informal group : 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
• The G20 Presidency rotates annually: according to a system that ensures a regional balance over time.
• The presidency rotates between each group.
• India is in Group 2 which also has Russia, South Africa, and Turkey.
• The G20 does not have a permanent secretariat or Headquarters.

What are the current issues?

• Covid-19 pandemics: It has impacted most of the national economies
• Developing countries: are facing an extended, multi-faceted shock of great magnitude.
• Stalled negative economic growth
• Financial and liquidity crunch
• External debt crisis
• Increased poverty
• Worsening of social indicators and inequality.
• The UN says : the world is off track on the Sustainable Development Goals (SDGs).
• Digital divides between the developed and developing nations and within countries, regions and genders have widened.
• Climate-change disasters and conflicts
• The Taliban takeover of Afghanistan
• Ukraine-Russia war
• Food, fuel and fertilizer crisis
• Inflation-recession.
• Terrorism persists : the zero-tolerance stance and counterterrorism focus of the international community seems diluted.
• China : Continued Chinese muscle-flexing
• Rise of Covid crisis in China again.
• North-south divisions within the G20

Thematic priorities of India’s G20 presidency:

• Technological transformation and digital public infrastructure
• Accelerating progress on SDGs
• Lifestyle for environment (LiFE), green development and climate finance
• Accelerated , inclusive and resilient growth
• Women-led development and multilateral institutions for the 21st century
• Finding solutions for the “3 Fs: food, fuel and fertilizer-related crisis.

What steps India can take?

• Previous summits: India can build on the decisions and mechanisms of previous summits.
• Mobilizing global solidarity for solutions to pressing problems of humanity.
• India’s multi-alignment can be leveraged to bridge systemic and ideological differences and spark a “mindset change”.
• India can drive consensus on key reforms of the UN, World Bank, IMF etc.

How can G20 help to furnish these objectives?

• G20 could adopt actionable norms and policies
• Grow data and knowledge hubs and best practices
• Launch mechanisms for financing and implementation
• Advocacy campaigns
• Impactful programmes on the ground — individually, collectively and for the benefit of the Global South.

Way Forward

• The ability to come together and agree on key reforms and means of implementation in the economic, financial and political order could make the difference between the world hurtling into calamity or making exponential progress towards peace, prosperity and environmental sustainability.
• India is seen as a bright spot in the global economic horizon. It can play a “lighthouse role” by regionalisation and globalising its achievements.
• India can offer proven solutions and be a transformer of the Global South: From social justice projects, digital transformation, climate and environmental activism to pandemic and disaster relief etc
• PM’s LiFE initiative: global high-level principles and the creation of an ecosystem of government and businesses covering demand, supply, policy signals and economic framework could be envisaged.
• Assessing and securing low-cost funding(public and private) for the future trajectory of climate-friendly/green development and clean energy technologies could be game changing.
• India’s robust, inclusive and interoperable digital public infrastructure model, which has driven inclusion across finance, health and education, would be of immense value if it were replicated in the Global South.
• PM seeks to drive a veritable “Jan Andolan: A people’s movement based on being “One India” as much as “One Earth, One Family, One Future”.
• Voice of the Global South Summit’ under the theme – ‘Unity of Voice, Unity of Purpose: It essentially envisages bringing together countries of the global south and share their perspectives and priorities on a common platform across a whole range of issues,”

QUESTION FOR PRACTICE

Q. The long sustained image of India as a leader of the oppressed and marginalized nations has disappeared on account of its new found role in the emerging global order.’ Elaborate(UPSC 2019) (200 WORDS, 10 MARKS)

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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.

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

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• ਪੰਜਾਬੀ - Punjabi
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• 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:

• 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.

• 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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Great responsibility: On India’s G20 presidency

During g-20 presidency, india must etch its global dreams on domestic landscape .

Updated - December 03, 2022 11:36 am IST

The Government launched its year of the G-20 presidency on December 1 with some pomp, and 100 monuments from Kashmir to Kanyakumari lit up with India’s G-20 logo symbolising the motto “Vasudhaiva Kutumbakam, or “one earth, one family, one future”. In an editorial essay, Prime Minister Narendra Modi committed to making India’s year of chairmanship as one that will focus on “healing our ‘One Earth’, creating harmony within our ‘One Family’ and giving hope for our ‘One Future’”. There are plans for about 200 G-20 meetings across India. The preparatory and ministerial meetings will culminate in grand plans for a G-20 Summit, which will bring leaders of the ‘P-5’ countries and others to New Delhi next September. India has taken the baton from Indonesia, which had a difficult time in even scheduling meetings and ensuring full participation due to differences over the Ukraine war. There was even uncertainty till the end over whether all major leaders would attend; whether they would agree to a joint photo-opportunity (they did not), and whether there would be a joint statement — which was eventually forged. Like Indonesian President Joko Widodo, Mr. Modi will have to travel abroad to ensure that all G-20 leaders and invitees attend at the highest level. And officials will have to burn more midnight oil to achieve consensus on statements.

Symbolism and logistical coordination aside, the Government has a tough task ahead in conducting substantive negotiations to bring together a comprehensive G-20 agenda, where officials said they would focus on counter-terrorism, supply chain disruptions and global unity. In 2008, the first G-20 summit-level meeting in the U.S. was during a moment of crisis for the world’s financial systems. In 2022, the task for Mr. Modi and his team is equally crucial, given the lasting effects of the Russian war in Ukraine, western sanctions on energy that will deepen this month, economic downturns, pandemic worries and climate change issues that are testing the foundations of globalisation and an interconnected global economy. In his editorial, Mr. Modi said India would forge its G-20 agenda through its tradition of “collective decision-making” that, like India’s national consensus, would be made “... by blending millions of free voices into one harmonious melody”. At a time India itself faces economic distress and social and communal tensions, the Government should be prepared for more scrutiny on upholding such ideals. Having raised the pitch on India’s global prominence as G-20 President, and its power to shape the global narrative, the Government may find that with great power comes great responsibility, and a greater spotlight on its ability to translate its global dreams into the domestic landscape as well.

To read this editorial in Tamil, click here.

Published - December 03, 2022 12:20 am IST

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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.

Explore the Ultimate Guide to IAS Exam Preparation Download The E-Book Now!

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 .

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?

Upcoming G20 summits

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

Related Links:

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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