About G20

• Founded in 1999, the Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making.
• The G20 comprises Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK and USA. 

• The G-20’s member-countries represent around 85% of the world’s economic output, three-quarters of international trade and two thirds of the world’s population.
• The objectives of the G20 are:
  • Policy coordination between its members in order to achieve global economic stability, sustainable growth;
  • To promote financial regulations that reduce risks and prevent future financial crises; and
  • To create a new international financial architecture.

Why in News?

• Finance Minister Nirmala Sitharaman participated in the first G20 Finance Ministers and Central Bank Governors’ meeting under G20 Presidency of Indonesia. 

Reference:

1. https://newsonair.gov.in/News?title=FM-Nirmala-Sitharaman-participates-in-first-G20-Finance-Ministers%2c-Central-Bank-Governors%26%2339%3b-meeting-under-G20-Presidency-of-Indonesia&id=435708