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?

• Prime Minister Narendra Modi said that assuming the G-20 presidency was a huge opportunity for India and that the country must utilise it by focusing on the global good. 
• India will assume the presidency of the powerful grouping G-20 on December 1.

reference:

https://www.thehindu.com/news/national/mann-ki-baat-india-must-utilise-g20-presidency-by-focusing-on-global-good-pm-modi/article66190832.ece