The G20 is a significant global conference that brings the world's biggest economies together.
Digital Desk: The Ministry of External Affairs (MEA) announced Tuesday that India will host the G-20 leaders' summit in New Delhi on September 9 and 10, 2023, as part of its Presidency.
India will hold the G20 Presidency for one year, from December 1, 2022, to November 30, 2023, and is slated to host over 200 meetings across the country beginning this December.
According to the MEA, India, as the G20 Presidency, would invite Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE as Guest countries.
The MEA statement stated that while India's G20 priorities are still being finalized, ongoing discussions "... center on inclusive, equitable, and sustainable growth; LiFE (Lifestyle for Environment); women's empowerment; digital public infrastructure and tech-enabled development in areas ranging from health, agriculture, and education to commerce, skill-mapping, culture, and tourism; climate financing; circular economy; global food security; energy security; green growth."
"India, Indonesia, and Brazil would make up the troika during our Presidency. Three emerging economies and developing nations would make up the troika for the first time, giving them a stronger voice, according to a statement from the MEA.
The G20 is an international organization that brings together the largest industrialized and developing economies of the globe. It consists of 19 nations, including the US, Argentina, Brazil, Canada, China, France, Germany, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the European Union (EU).
The G20 is the foremost forum for global economic cooperation because its members collectively represent 85% of the world's GDP, 75% of its trade, and 2/3 of its population. India is currently a member of the G20 Troika, which consists of Indonesia, Italy, and India as the current, outgoing, and upcoming G20 Presidency.
The G20 now comprises of:
# Finance Track, which includes eight work streams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms).
# Sherpa Track, which has 12 work streams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, Tourism)
# 10 Private sector/civil society/independent bodies engagement groups (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20 and Youth 20).
The G20 Presidency has a practice of inviting several guest nations and international organisations to its meetings and summit in addition to G20 members.
Consequently, India will be inviting Bangladesh, Egypt, Mauritius, The Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE as guest countries, in addition to the regular international organizations (UN, IMF, World Bank, WHO, WTO, ILO, FSB and OECD) and chairs of regional organizations (AU, AUDA-NEPAD and ASEAN), as well as International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI), and Asian Development Bank (ADB).
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