India will be leading the G20 this year, consisting of 19 countries and the European Union, representing around 85% of the world's GDP, over 75% of the global trade, and about two-thirds of the world population. As the G20 President, India will host more than 200 meetings in over 50 cities across 32 different work streams throughout the year. The first G20 Finance Ministers and Central Bank Governors meeting will take place on 24-25 February 2023 in Bengaluru, Karnataka. The G20 summit, with the theme 'Vasudhaiva Kutumbakam' or 'One Earth One Family One Future,' will be held on 9-10th September 2023 in New Delhi.
The G20 includes two tracks: the Sherpa and Finance tracks. The Finance Ministers and Central Bank Governors lead the Finance Track, while Sherpas head the Sherpa Track. Sherpas are personal emissaries of the leaders and oversee inputs from 13 Working Groups, 2 Initiatives – Research Innovation Initiative Gathering (RIIG) and G20 Empower, and various Engagement Groups. The 18th G20 Heads of State and Government Summit will feature thematically oriented working groups in which respective representatives from the ministries, along with invited/guest countries, participate.
The G20 group consists of Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, and the European Union.
India has scheduled various events and meetings across the country under the G20 framework, including the first Culture Working Group Meeting in Khajuraho, Madhya Pradesh, and the first Anti-Corruption Working Group Meeting in Gurugram, Haryana, under the Sherpa Track. The second Meeting for the Global Partnership for Financial Inclusion will be held in Hyderabad, Telangana, and the second Education Working Group Meeting in Amritsar, Punjab, under the Sherpa Track. Additionally, the first FMCBG and second FCBD meeting will be held in Bengaluru, Karnataka, and the second Joint Finance-Health Task Force Meeting will be held virtually, under the Finance Track.
FAQs:
Q2: What is the purpose of the G20?
The G20 is a forum for international economic cooperation and decision-making. Its primary goal is to promote global economic growth and stability by facilitating dialogue and cooperation among the world's leading economies.
Q2: How are decisions made in the G20?
The G20 operates on a consensus-based decision-making process, which means that all members must agree to any decisions made. Each member has an equal say in the forum's proceedings, although the size and economic influence of some countries may give them more influence in practice.
