Banking

G20 Summit 2023: India to host G20 Summit 2023

Posted By: Admin
December 8, 2022 |

India to host G20 Summit in Sept 2023, hold over 200 meetings during its Presidency

G20 Summit 2023: G 20 Summit is a meeting of the G20 or Group of Twenty which is held every year since 1999. There are 19 countries and the European Union (EU) who participate in the summit to address major issues related to the International Financial Stability, Global Economy, Climate Change Mitigation and other Sustainable Development in the world.

The G20 members account for around 85% of the global economy and 75% of global trade.

For Next meeting i.e. G20 Summit 2023, India is selected to preside over the meeting which will be held on September 9 and 10 in 2023 in New Delhi. Let’s understand the G20 Summit 2023 in detail in this article.

Government Business loan Schemes
What is Pradhan Mantri Awas Yojana PMAY

Table of content

Countries under G20 2023
India’s Preparation for G20 Summit 2023
Who is Sherpa and who elect the Indian Sherpa
G20 Summit 2023 Theme
Guest Countries in G20 Summit 2023
What is the Troika in the G20 Summit? What are troika countries for 2023 G20 Summit?
Organizations which participate in G20 Summit

Countries under G20

There are 19 countries and the European Union in the G20 group.

G20 Countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States.

The G20 members represent around 85% of the global GDP and 75% of the global trade.

Also Read | Cyber Fraud: Banking frauds, Recover lost money

India’s Preparation for G20 Summit 2023

The Ministry of External Affairs (MEA) has announced plans to host over 200 meetings across the country starting from December 2022. These meetings will be presided by “Sherpa”, Mr. Amitabh Kant, to collect the data and craft a strategy to present India as a Global leader in the upcoming 2023 G20 Summit.

First meeting was held in Udaipur, Rajasthan on 05 December 2022. Mr. Amitabh Kant pointed to the significance of the Global South, growth and progress on Sustainable Development Goals, specifically the health and education sector, as key priorities of the 2023 G20 Summit.

Read India Today English 12 December 2022 – G20 India 2023

Who is Sherpa and who elects the Indian Sherpa for G20 Summit 2023?

Sherpa is the representative of a head of state or head of government. Sherpa prepares an international summit, such as the annual G7 and G20 summits.

The Government of India elects the Sherpas for the summit.

For G20 Summit 2023, former NITI Aayog chief executive Mr. Amitabh Kant is selected as Indian Sherpa.

Also Read | Top 10 Stocks to invest in 2023

G20 Summit 2023 Theme

The Indian Prime Minister Mr. Narendra Modi has chosen to promote oneness which is inspired by the theme of One Earth, One Family, One Future. The theme will focus on terror, climate change and pandemic as the greatest challenges. India will evolve the strategies around Vasudhaiva Kutumbakam (One Earth, One Family, One Future) theme for G20 Summit 2023.

MEA has informed that the summit and meetings will focus on areas mentioned below –

Inclusive, equitable and sustainable growth;
LiFE (Lifestyle For Environment);
Women’s empowerment;
Digital public infrastructure
Tech-enabled development
Culture and tourism;
Climate financing;
Circular economy;
Global food security;
Energy security;
Green hydrogen;
Disaster risk reduction and resilience;
Developmental cooperation;
Fight against economic crime;
Multilateral reforms

Read Samsamyiki Mahasagar Current Affairs Hindi January 2023 – 17th G20 Summit

Guest Countries in G20 Summit 2023

In addition to the 19 countries and the European Union, It is a tradition to invite guest countries to the G20 Summit.

As per the declaration of MEA, India will invite Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as Guest countries.

Explained | How to avoid Health Insurance claim rejection despite paying premium, reasons of cashless health claim rejection

What is the Troika in the G20 Summit? What are troika countries for G20 Summit 2023?

A Troika is a group of three countries in which the country that holds the Presidency of G20 Summit, its predecessor and its successor works to ensure continuity within the G20.

For the upcoming G20 Summit, India, Indonesia and Italy will form the TROIKA. It is the first time that all troika countries are developing countries.

MEA said that as a Troika member, India will work closely with Indonesia and Italy to ensure consistency and continuity of the G20’s agenda.

Organizations which participate in G20 2023

There are regular international organizations which participate in G20 Summit. Which are –

UN – United Nation,
IMF – International Monetary Fund
World Bank,
WHO – World Health Organization,
WTO – World Trade Organization ,
ILO – International Labor Organization
FSB – Financial Stability Board
OECD – Organization for Economic Co-operation and Development )
AU – African Union,
AUDA-NEPAD – New Partnership for Africa’s Development
ASEAN – Association of Southeast Asian Nations

Along with these organizations, India will invite the following organizations as guest organizations to the G20 Summit in India.

International Solar Alliance (ISA),
Coalition for Disaster Resilient Infrastructure (CDRI)
Asian Development Bank (ADB)

Other than this following comprises the G20 Summit –

Finance Track, with 8 work streams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms).
Sherpa Track, with 12 work streams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, Tourism)
10 Engagement Groups of private sector/civil society/independent bodies (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20 and Youth 20).

Read Other Articles –

Read Category-wise posts

Tags: