New Delhi: India will hold the Presidency of the G20 for one year (Dec 1, 2022, to Nov 30, 2023), during its Presidency, it is expected to host over 200 G20 meetings across the country.
According to a press announcement from the Ministry of External Affairs, the G20 Leaders’ Summit at the level of Heads of State/Government will take place on September 9 and 10, 2023, in New Delhi.
The MEA statement also says that India will invite Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain, and UAE as Guest countries for next year’s G20 Summit.
The exercise is reportedly underway to identify suitable venues in places ranging from Tamil Nadu to the Union Territory of Jammu and Kashmir for hosting these meetings.
India will take over after twice swapping the presidency of the G20, first with Italy in 2021 and then with Indonesia in 2022.
The G20, or Group of Twenty, is an intergovernmental forum of the world’s major developed and developing economies. It comprises 19 countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA – and the European Union (EU).
The G20 is the foremost forum for global economic cooperation because it collectively represents 85% of the world’s GDP, 75% of he international trade, and 2/3 of world’s population.
India is currently part of the G20 Troika (current, previous and incoming G20 Presidencies) comprising Indonesia, Italy and India.
During its Presidency, India, Indonesia, and Brazil would form the troika. According to the announcement, this would be the first time that the troika will be made up of three emerging economies and developing nations, giving them a greater voice.
The G20 currently comprises – Finance Track, with 8 workstreams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms); Sherpa Track, with 12 workstreams (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).
In addition to G20 Members, there has been a tradition of the G20 Presidency inviting some Guest countries and International Organizations (IOs) to its G20 meetings and summits.
Accordingly, in addition to regular International Organizations (UN, IMF, World Bank, WHO, WTO, ILO, FSB and OECD) and Chairs of Regional Organizations (AU, AUDA-NEPAD and ASEAN), India, as G20 President, will be inviting Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as Guest countries, as well as ISA (International Solar Alliance), CDRI (Coalition for Disaster Resilient Infrastructure) and ADB (Asian Development Bank) as Guest IOs, read the release.
Whilst India’s G20 priorities are in the process of being firmed up, ongoing conversations inter alia revolve around inclusive, equitable and sustainable growth; LiFE (Lifestyle For Environment); women’s empowerment; digital public infrastructure and tech-enabled development in areas ranging from health, agriculture and education to commerce, skill-mapping, 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; and multilateral reforms.
(With Agency Inputs)
Click here for Latest News updates and viral videos on our AI-powered smart news
For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram