G20 summit

Topic Covers: G20 Summits 17th G20 Summit 2022 Theme Pillars India’s G20 Presidency Theme Logo Agenda Priorities Trioka About G20 Aim Foundation Members G20 Summit

Relevance: For UPSC CSE Prelims as well as Mains Exams (General Studies II: International Relation).

G20 Summit:

"Vasudhaiv Kutumbakam' is signature of India's compassion to world. Lotus portrays cultural heritage and faith of India in bringing world together”

                                                                                                                                 PM Narendra Modi

17^th G20 Summit 2022:

The 17th annual Group of 20 (G20) Summit was hosted by the Indonesian presidency in October 2022 in Bali.  

Theme: ‘Recover Together, Recover Stronger’

According to g20.org, “As the global pandemic continues to affect all sectors of life, the future of our shared prosperity relies on our collective ability to create an inclusive and sustainable foundation for growth.”

Three Pillars of 17^th G20 Summit 2022:

1. Global Health Architecture: To making the global health system more inclusive, equitable, and responsive to crises.
2. Sustainable Energy Transition: To accelerate the transition towards cleaner energy sources through the various platforms for investment.
3. Digital Transformation: Through establishing a new framework for international cooperation, on realising the full potential of the world economy's accelerating digitalization.

Now, India has assumed the Presidency of the G20 from 1 December 2022 to 30 November 2023.

 

18^th G20 Summit 2023 in Context of India:

India holds the Presidency of the 18^th annual G20 Summit from December 1, 2022 to November 30, 2023.

• India's G20 Presidency will work to promote this universal sense of one-ness.

Theme: “One Earth, One Family, One Future” (or) “Vasudhaiva Kutumbakam”

• The theme also highlighted LiFE (Lifestyle for Environment).

Logo:

• The G20 Logo reflects the vibrant colours of India’s national flag – saffron, white and green, and blue.
• It shows planet Earth with the lotus, India’s national flower that symbolised growth amid challenges.
• The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature.
• Below the G20 logo is “Bharat”, written in the Devanagari script.

Agenda: India’s agenda at the G-20 as “inclusive, ambitious, action-oriented”.

Guest Nations: India’s special invitee guest countries are Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE.

Key Priorities of India's G20 Presidency:

Environment:

• Climate Change: Focus on climate finance and technology and ensuring just energy transitions for developing nations across the world.
• India offers the world LiFE (Lifestyle for Environment) - to adopt environmentally-conscious practices.

Accelerated, Inclusive & Resilient Growth:

These are a cornerstone for sustainable development. India aims to accelerate integration of MSMEs in global trade, bring in the spirit of trade for growth, promote labour rights and secure labour welfare, address global skills gap, and build inclusive agricultural value chains and food systems etc.

Achieve SDGs:

Due to impact of COVID-19, India wants to focus on recommitting G20's efforts to achieving the targets laid out in the 2030 Agenda for Sustainable Development.

Digital Transition:

India can approach towards a human-centric technology, and facilitate greater knowledge-exchange in priority areas like digital public infrastructure, financial inclusion, and tech-enabled development in sectors ranging from agriculture to education. 

Multilateral Institutions for the 21st Century:

Multilateralism can create more accountable, inclusive just, equitable and representative multipolar international system that is fit for addressing the challenges in the 21st century.

Women:

• Women empowerment and representation being at the core of India's G20 deliberations.
• This includes a focus on bringing women to the fore, and in leading positions, in order to boost socio-economic development and achievement of SDGs.

 

G20 Trioka:

The Presidency is supported by the Troika – previous, current and incoming Presidency. From December 1, 2022 India’s Presidency, the troika will comprise Indonesia, India and Brazil, respectively.

 

About G20 Summit:

The Group of Twenty (G20) is the most important platform for global economic cooperation. Regarding all significant worldwide economic concerns, it is important in building and enhancing global governance.

Aim: To secure global financial stability.

Founded:

• The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
• In the wake of the world financial and economic crisis in 2007, it was upgraded to the level of heads of state or government, and in 2009 it was given the title of "premier forum for international economic cooperation."

G20 Members:

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

• The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

Invited International Organisations:

The regular International Organisations (UN, IMF, WB, WHO, WTO, ILO, FSB and OECD) and Chairs of Regional Organisations (AU, AUDA-NEPAD and ASEAN), India, as G20 Presidency, will be inviting ISA, CDRI and ADB as Guest IOs. 

G20 Summit:

The G20 Summit is held annually, under the leadership of a rotating Presidency.

The G20 initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia include trade, climate change, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.

 

UPSC Civil Services Examination, Previous Year Question (PYQ) Q. In which one of the following groups are all the four countries members of G20?   (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   Ans: (a)

Solve More: MCQ on G20 Summit

References:

PIB, The Indian Express, g20.org