- The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, 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.
Genesis of G20
- 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.
- It was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”.
- The forum initially dealt with matters related to macroeconomics, but over the years, its agenda has expanded to cover issues relating to trade, climate change, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.
How does the G20 work?
- The G20 Summit is held annually under a rotating presidency, which currently rests with India for 2023.
- The G20 Presidency steers the G20 agenda for one year and hosts the Summit.
- The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track.
- Finance Ministers and Central Bank Governors lead the Finance Track while Sherpas (personal representative of the leader of a member country) lead the Sherpa Track.
- Sherpas oversee negotiations all through the year, discussing agenda items for the summit and coordinating the substantive work of the G20.
- Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organisations participate.
- In addition, there are Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries.
- The group does not have a permanent secretariat, and the presidency is supported by the previous, current, and future holders of the post, together called the Troika. Along with India, 2023’s troika includes Indonesia and Brazil.
India’s G-20 Presidency
- India holds the Presidency of the G20 from December 1, 2022 to November 30, 2023.
- As the President-nation, India will host the 18th G20 Heads of State and Government Summit in December 2023 in New Delhi.
- Apart from hosting the summit and setting the theme, the G20 presidency does not come with any formal powers.
G20 Logo & Theme
- The Government of India recently unveiled the Logo and Theme of India’s G20 Presidency.
- The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue.
- It juxtaposes planet Earth with the lotus, India’s national flower that reflects 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.
- The theme of India’s G20 Presidency – “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” – is drawn from the ancient Sanskrit text of the Maha Upanishad.
What’s in the news?
- G20 Meeting of Agricultural Chief Scientists (MACS) is being organized at Varanasi during 17-19th April 2023 by the Department of Agricultural Research and Education (DARE), Ministry of Agriculture and Farmers Welfare.
- The various issues of agriculture research and development including food security and nutrition, Climate Smart Agriculture, Digital Agriculture, Public Private Partnership etc. have been included for discussion.