The G20, also known as the Group of Twenty, is a forum for international cooperation on issues related to global economic growth, international trade, and financial stability. It brings together 19 countries and the European Union, representing over 80% of the world’s GDP and two-thirds of its population.
The G20 was established in 1999, in the aftermath of the Asian financial crisis, with the aim of promoting international economic cooperation and policy coordination. Its members include the United States, Canada, Mexico, Brazil, Argentina, Australia, China, Japan, South Korea, India, Russia, Turkey, Saudi Arabia, South Africa, Germany, France, Italy, the United Kingdom, and the European Union.
The G20 holds annual summits where leaders discuss issues such as global economic growth, financial regulation, trade, energy, and climate change. The G20 also has working groups and task forces that focus on specific issues, such as the digital economy, anti-corruption, and international tax reform.
India assumed the G20 Presidency from the 1st of December, 2022 from Indonesia and will convene the G20 Leaders’ Summit for the first time in the country in 2023. A nation deeply committed to democracy and multilateralism, India’s G20 Presidency would be a watershed moment in her history as it seeks to play an important role by finding pragmatic global solutions for the wellbeing of all, and in doing so, manifest the true spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’.
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