g20 essay in english 250 words

Paragraph on G20 in English (100, 150, 200, 250 Words)

The G20, comprising twenty major economies worldwide, serves as a crucial forum for addressing global economic challenges. With its significant influence on the global economic landscape, the G20 plays a pivotal role in fostering dialogue, cooperation, and policy coordination among its member countries.

(Here, we’ve presented paragraphs in 100, 150, 200 & 250 word samples. All the paragraphs will be helpful for students of all classes i.e. Nursery, LKG, UKG & class 1 to class 12).

Table of Contents

Paragraph on G20 in 100 Words

The G20 is a group where leaders from different countries meet to discuss important global issues. It includes both rich and developing nations. They talk about things like the economy, trade, and climate change. The goal is to find solutions that benefit everyone. It started in 1999 in response to financial crises. Meetings happen once a year, hosted by different member countries. Each country has a chance to share its views and concerns. The G20 aims to promote stability and growth worldwide. It’s a platform for cooperation and collaboration among nations.

The G20 is a group of countries that come together to discuss global economic issues. It includes big economies like the USA, China, and Japan, along with others like Brazil and India. They meet once a year to talk about things like trade, finance, and development. The goal is to find ways to improve the world economy and help everyone grow. Each country sends its leaders or top officials to these meetings. Together, they try to solve problems and make plans for the future. The G20 plays an important role in shaping the global economy and promoting cooperation among nations.

The G20 is a gathering of twenty countries aiming to discuss global economic concerns. Among its members are significant economies such as the United States, China, and Japan, alongside others like Brazil and India. They convene annually to address trade, finance, and development matters. Their objective is to enhance the world economy and foster collective growth. Representatives, including leaders or high-ranking officials, attend these sessions. Collaboratively, they strive to resolve issues and devise strategies for the future. The G20 holds significance in shaping the global economic landscape and fostering international collaboration.

G20 Paragraph in 150 Words

The G20 serves as a crucial platform for addressing pressing global economic challenges. Comprising major economies like the United States, China, and the European Union, alongside emerging powers such as Brazil and India, it represents a diverse array of interests.

The forum convenes annually, enabling member nations to deliberate on issues ranging from trade imbalances to financial stability and sustainable development. By fostering dialogue among key stakeholders, the G20 seeks to promote cooperation and coordination on economic policies, aiming for inclusive growth and prosperity.

Furthermore, the G20 plays a pivotal role in crisis management, as witnessed during the 2008 financial meltdown when concerted efforts were made to stabilize markets and restore confidence. Moreover, the forum’s commitment to multilateralism underscores its significance in navigating complex geopolitical landscapes and mitigating risks to the global economy.

As the world becomes increasingly interconnected, the G20’s role in shaping the trajectory of international economic governance remains indispensable, emphasizing the need for continued collaboration and dialogue among its members.

Paragraph Writing on G20 in 200 Words

The G20, short for Group of Twenty, stands as a crucial platform for international economic cooperation. Comprising 19 countries and the European Union, it includes both advanced and emerging economies, representing a significant portion of global GDP and population. One of its paramount roles is addressing pressing economic challenges that transcend national borders. Discussions within the G20 encompass a wide array of topics, ranging from trade and finance to sustainable development and climate change mitigation.

Trade forms a cornerstone of G20 discussions, with member nations aiming to promote open, fair, and inclusive trade practices. By fostering cooperation and dialogue, the G20 endeavors to reduce trade barriers and enhance global economic integration. Furthermore, the G20 plays a pivotal role in steering global financial stability. Particularly crucial in the aftermath of the 2008 financial crisis, the group focuses on regulatory reforms and financial resilience to prevent future crises.

Another significant aspect of the G20’s agenda is sustainable development. With the world facing pressing environmental challenges and socio-economic inequalities, the G20 seeks to address issues such as poverty alleviation, access to education and healthcare, and gender equality. Moreover, climate change mitigation and adaptation feature prominently in G20 discussions, reflecting the group’s recognition of the urgency to combat this global threat.

The G20 also serves as a forum for coordination on global governance issues. By fostering dialogue among member nations, the G20 aims to promote effective and inclusive multilateralism. This includes cooperation on international institutions such as the United Nations, IMF, and World Bank, as well as addressing geopolitical tensions and conflicts that could impact global stability.

In conclusion, the G20 stands as a vital forum for addressing pressing global economic challenges and fostering international cooperation. Its discussions encompass trade, finance, sustainable development, global governance, and geopolitical issues, reflecting the diverse array of challenges facing the international community. Through dialogue and collaboration, the G20 strives to promote economic stability, sustainable development, and prosperity for all.   

Writing Paragraph on G20 in 250 Words

The G20, comprising the world’s major economies, serves as a pivotal platform for addressing pressing global economic challenges. Since its inception in 1999, its prominence has grown, particularly after the 2008 financial crisis, when it transformed from a forum for finance ministers and central bank governors to a platform for heads of state and government. With its member countries accounting for approximately 85% of global GDP and two-thirds of the world’s population, the G20 holds considerable sway over the global economic landscape.

One of the primary functions of the G20 is to facilitate dialogue and cooperation on economic policy coordination among its members. This coordination is crucial for ensuring stability in global financial markets and fostering sustainable economic growth. For instance, during the COVID-19 pandemic, the G20 played a crucial role in coordinating responses to mitigate the economic fallout, including fiscal stimulus measures and debt relief initiatives.

Another key aspect of the G20’s agenda is promoting international trade and investment. According to data from the World Trade Organization (WTO), G20 countries collectively account for around 75% of global trade. Thus, decisions made within the G20 regarding trade policies and agreements can have far-reaching implications for the global economy. Efforts to reduce trade barriers and enhance market access are often discussed within this forum to stimulate economic activity and job creation.

Additionally, the G20 focuses on addressing global development challenges, particularly those related to poverty alleviation, infrastructure investment, and sustainable development. According to the World Bank, G20 countries provide approximately 80% of global development assistance. As such, the G20 plays a crucial role in shaping the global development agenda and mobilizing resources to tackle pressing issues such as climate change and inequality.

Furthermore, the G20 serves as a platform for addressing financial regulation and reform to prevent future financial crises. Measures to strengthen the resilience of the global financial system, enhance regulatory oversight, and promote transparency are often discussed and agreed upon within this forum.

Moreover, the G20 emphasizes the importance of inclusive growth and ensuring that the benefits of economic progress are shared equitably among all segments of society. This includes addressing issues such as income inequality, gender disparities, and access to education and healthcare.

In conclusion, the G20 plays a central role in shaping the global economic agenda and fostering cooperation among its member countries. By addressing key economic challenges, promoting trade and investment, and advancing development goals, the G20 contributes to stability and prosperity on a global scale.

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Essay on G20 in English

In the world of international finance and economics, the G20 is one of the most important forums for discussion and decision-making.

Comprising the world’s 20 largest economies, the G-20 meets annually to address key issues in the global economy and coordinate economic policies.

In this essay, we will explore the history, structure, and significance of the G20 and examine the key issues it has tackled in recent years.

Table of Contents

Introduction: The Importance of Economic Coordination

The global economy is highly interconnected, and economic policies in one country can have far-reaching impacts worldwide.

In order to ensure stability and growth in the international economy, governments need to coordinate their policies and work together to address common challenges.

The G20 was created to facilitate this coordination and provide a forum for discussion and decision-making.

What is the G20?

The G20 or group of twenty is a forum for the world’s largest economies to discuss economic policy and coordinate their actions.

The group was founded in 1999, in the aftermath of the Asian financial crisis, as a meeting of finance ministers and central bank governors.

In 2008, in response to the global financial crisis, the G-20 was elevated to a leaders’ summit, with the first meeting taking place in Washington, D.C., that same year.

Today, the G20 comprises 19 countries plus the European Union, representing approximately two-thirds of the world’s population and 85% of global GDP.

G20 member countries 

• Saudi Arabia
• South Africa
• South Korea
• United Kingdom
• United States

Structure of the G-20

The G20 operates through several working groups, each focused on a specific area of economic policy.

These groups prepare reports and policy recommendations for the leaders’ summit, where final decisions are made.

The G20 also has a rotating presidency, with the host country responsible for setting the agenda and chairing the meetings.

The presidency rotates annually, with the most recent host being Italy in 2021 and Indonesia set to take over in 2022.

Key Issues Addressed by the G20

Over the years, the G20 has addressed various economic issues, from financial regulation to trade to climate change.

Some of the key issues that the G20 has focused on in recent years include:

1. Global Financial Regulation

In the aftermath of the 2008 financial crisis, the G20 played a key role in developing new regulations to prevent a similar crisis from happening again.

The group established the Financial Stability Board (FSB) to coordinate international efforts to strengthen financial regulation and has worked to implement a range of reforms aimed at increasing transparency and reducing risk in the financial system.

The G20 has also promoted international trade and reduced trade barriers.

The group has pledged to resist protectionism and support the multilateral trading system and has worked to negotiate new trade agreements, such as the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP).

3. Climate Change

The G20 has also been involved in addressing climate change and promoting sustainable development.

The group has committed to reducing greenhouse gas emissions and has supported the Paris Agreement on climate change.

The G20 has also focused on promoting renewable energy and improving energy efficiency.

4. Digital Economy

The G20 has recognized the growing importance of the digital economy and has worked to develop policies to promote the growth of this sector.

This has included efforts to promote cross-border data flows and ensure digital platforms operate in a fair and competitive environment.

5. COVID-19 response

In 2020, the G-20 was called upon to respond to the COVID-19 pandemic, which has had significant economic impacts worldwide.

The group has coordinated efforts to support the global economy, including fiscal stimulus measures and debt relief for the poorest countries.

The Significance of the G20

The G20 is significant for several reasons:

1. It brings together the world’s largest economies, giving it significant influence over global economic policy.

2. The G20 provides a discussion and coordination forum, helping prevent conflicts and promote cooperation.

3. The G20 has been important in addressing key economic challenges, from financial stability to climate change.

The G20 is a vital forum for discussion and decision-making in the global economy.

Through its work, the G-20 has helped to promote cooperation and address key economic challenges.

Its significance is likely to continue in the years ahead.

Essay on G20 in English for School Students (400 – 500 words)

The G20, or Group of Twenty, is an international forum comprising 19 countries and the European Union, representing the world’s leading economies.

The G20 aims to promote international economic cooperation and policy coordination to achieve stable, sustainable, and inclusive growth.

At its core, the G20 is a platform for leaders to come together and discuss the most pressing global economic issues.

It allows countries to exchange ideas, share best practices, and work towards common goals.

From tackling climate change to promoting financial stability, the G20 is critical in shaping the global economic agenda.

However, the G-20 is more than just a forum for economic cooperation.

It is also a platform for building relationships and fostering trust between countries.

In an increasingly divided world, the G-20 allows leaders to come together and find common ground.

Perhaps one of the most significant contributions of the G20 has been its response to the global financial crisis of 2008.

Amid the crisis, the G20 quickly mobilized to coordinate a global response.

They worked together to stabilize the financial system, stimulate economic growth, and protect jobs.

That was not an easy task, but Leaders put aside their differences and worked towards a common goal.

The G20 rose to the challenge, and their efforts were instrumental in preventing a global economic collapse.

Of course, the G-20 is not without its challenges.

As with any organization, there are disagreements and tensions between member countries.

However, even in the face of these challenges, the G20 has managed to maintain its relevance and effectiveness.

At its heart, the G20 is a symbol of hope.

It reminds us that, despite our differences, we can come together to build a better future.

In a world that can often feel overwhelming and chaotic, the G20 offers a glimmer of hope that we can work towards a brighter tomorrow.

Nevertheless, the G20 cannot do this alone. It requires the collective efforts of all member countries to achieve its goals.

It requires leaders willing to put aside their differences and work towards a common goal.

As we look to the future, the role of the G-20 will only become more critical.

From climate change to inequality, our world’s challenges are complex and interconnected.

The G-20 provides a platform for addressing these challenges and building a more equitable and sustainable future for all.

In conclusion, the G20 is a powerful symbol of international cooperation and unity.

It serves as a reminder that, despite our differences, we can work together towards a common goal.

As we face future challenges, let us remember the lessons of the G20 and work towards building a more just and equitable world.

Essay on G-20 in English for School Students (250 words)

The G20, also known as the Group of Twenty, is an international forum of 19 countries and the European Union.

Its members represent around 80% of the world’s gross domestic product and two-thirds of its population.

The forum was established in 1999 to discuss and coordinate international economic and financial issues.

The G20 is considered one of the world’s most powerful international forums, and its decisions have far-reaching consequences.

The forum brings together leaders from the world’s largest economies, including the United States, China, Japan, Germany, France, and the United Kingdom.

The G20’s mission is to promote international economic growth, financial stability, and member cooperation.

The forum plays an important role in shaping global economic policies and addressing trade, investment, energy, and climate change issues.

One of the key achievements of the G20 has been its response to the global financial crisis of 2008-2009.

The forum was critical in coordinating international efforts to stabilize financial markets and prevent global economic collapse.

In recent years, the G-20 has focused on promoting sustainable economic growth and addressing issues such as income inequality, climate change, and the digital economy.

The forum has also been key in promoting international cooperation on issues such as the COVID-19 pandemic and global vaccine distribution.

The G20 is an important forum for addressing international economic issues and promoting global cooperation.

Its members have the power and influence to shape global economic policies and address some of the world’s most pressing challenges.

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Essay on G20 Summit in 100, 200, 300, 500 Words

Essay on g20 summit.

The essay on the G20 Summit is written in simple English and easy words for children and students. English essay on G20 Summit tells about G20 when it was established, and why it is special for us. Students are often asked to write essays on the G20 Summit in their schools and colleges. If you are also looking for the same, then we have given an essay on the G20 Summit in 100 – words, 200 – words, 300 – words, and 500 – words.

The G20 Summit 2023 was held in New Delhi, India. All countrymen and students should understand how important it is for our nation. Below we have given various essays on the G20 Summit, knowing which will increase your knowledge.

Short & Long Essay on G20 Summit

Essay – 100 words.

The G20 summit is an annual gathering of leaders of the European Union and the world’s 19 largest economies. The G20 was established in 1999 and serves as an important forum for global economic cooperation and shaping. During the G20 summit, the main leaders of all the countries discussed various issues including trade, economic growth, geopolitical stability, and climate change. These important forums have a significant impact on global economic and political development.

Ministers and important officials participate in the activities of the summit. When this summit ends, all the leaders of the G20 countries issue a statement to show that they are all committed to the important topics that they talked about and agreed upon during their meetings throughout the year.

Essay – 200 Words

G20 is an international forum also known as The Group of Twenty and many countries participate in it. The G20 summit discusses key points regarding the financial and economic agenda around the world. Also, one of the main objectives of this conference is to bring together all the economies that are emerging along with the advanced economies of the world.

This G20 summit i.e. Group of Twenty was established in the year 1999. This was done in the wake of the Asian financial crisis. G20 is basically an important forum that is attended by the Ministers or Finance Ministers of many countries. Hence the country participates in the G20 summit to discuss financial and economic issues.

This conference is organized every year under the leadership of the President and every year it is represented by different countries. Earlier G20 included 19 countries but by 2023 this group has 21 members and its member countries are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, and Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union, and the African Union. When it comes to GDP, 85% of world GDP is represented by G20 members and more than 75% of global trade is done by G20 members.

Essay – 300 Words

The G20 Summit is an important international gathering where central bank governors and leaders of the world’s 20 most influential economies come together to discuss matters of global economic importance. It was established in 1999. The G20 summit was conceived to facilitate discussion on policy issues related to development and international economic cooperation.

G20 member states collectively have significant economic power, representing the majority of the global population and 85% of the world’s gross domestic product (GDP).

Any country with a rapidly growing economy, and substantial population, and to protect its interests can also take advantage of this platform to address global challenges like trade, climate change, and economic stability.

Thus, this summit is not just a gathering of nations, but a gathering of economic giants that aims to promote cooperation on the scale of global economic influence.

G20 Members

Earlier G20 included 19 countries but by 2023 this group has 21 members: its member countries are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union, and the African Union.

Importance of G20 Summit

In this G20 summit, top leaders of all the countries exchange views and deliberate on policy solutions. Additionally, efforts to address various global challenges are discussed, including economic issues such as trade, recession, and investment, as well as social concerns such as inequality, poverty, and climate change.

The G20 summit is important because G20 members account for approximately 85% of the world’s gross economic output (GDP) and more than 75% of worldwide trade, as well as approximately two-thirds of the global population, making the G20 the center of international economic cooperation. Creates an important platform for.

Essay – 500 Words

Introduction

The G20 or Group of Twenty is a major forum for international cooperation that deliberates on the most important aspects of the international economic and financial agenda. These are the major advanced and emerging economies of the world which include Argentina, Australia, Brazil, Canada, China, EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK. And the USA is included. These countries together represent approximately 90% of global GDP, 80% of global trade, and two-thirds of the world’s population.

Objectives of G20

a) Promote financial regulations that reduce risks and prevent future financial crises.

b) To establish policy consistency, coordination, and sustainable development among its members to achieve global economic goals.

c) And building a new international financial architecture.

Origin and Development

The G20 was formed in response to a number of financial challenges. In the 1990s, some of the emerging economies were not adequately represented in the global economic discussion. So in December 1999, finance ministers and central bank governors of emerging countries of systemic importance met for the first time in Berlin, Germany, and held an informal dialogue on key issues for global economic stability. Since then, central bank governors and finance ministers have met annually.

Organizational Structure of G20

The formation operates without a permanent secretariat or staff, with its chair rotating annually. Their chairperson is elected from among the members and from a different regional group of countries. Their Chairman is part of a three-member management group that rotates past, present, and future.

G20 Leaders Summit

The first G20 summit was hosted by the US. The President developed a coordinated response in Washington in November 2008. In the first summit, all the leaders discussed the causes of the global economic and financial crisis and agreed to implement an action plan around it which had three main objectives, namely, (1) restoring global growth (2) international financial system strengthening and (3) reform of international financial institutions.

India and G-20

India’s participation in the G20 as a leader stems from the realization that developing economies have a significant stake in the stability of the international economy and financial system. India has been actively involved in the G20 process at both the Sherpa track and the financial track since its inception with the Prime Minister participating in all and has endeavored to ensure that the global community remains focused on the need and need to ensure an adequate flow of finance to emerging economies to meet their development. India has welcomed the inclusion of development as part of the G20 process.

The G20 or Group of Twenty, being a major forum for international cooperation, deliberates on the most important aspects of the international economic and financial agenda with the main objectives of restoring global growth, strengthening the international financial system, and reforming international financial institutions.

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Essay on G20 Summit- 100, 200, and 500 words

Reported by Pankaj Bhatt

Published on 10 September 2024

What if you have to write an essay on G20 Summit in school or anywhere else? Do you know what it is and why we have the number 20 in it ? If you don’t know anything about G20 or know a little bit and want to know more and, most notably, how you can write an essay on this complicated yet exciting topic, then do read this article because we have everything for you on this page.

The G20, commonly known as The Group of Twenty, is an international platform where many nations participate and discuss the cardinal points regarding the global financial and economic agendas. Moreover, one of the main objectives of this forum is to bring together all the economies emerging with the world’s advanced economies.

Furthermore, the Group of Twenty provides a forum for International Cooperation regarding economics. The G20 group was introduced in the year 1999.

In 2023, India was the presidential candidate of the G20, which was held in September. The next edition of G20 will be held in Rio De Janeiro, Brazil. The other critical details about the G20 we have shared are in essay format. In this article, we have provided essays on the G20 summit. The essay has been divided into three sections of 500, 200 and 100 words in the forthcoming paragraphs.

500 Words Essay on G20 Summit

The Group of Twenty, also known as G20, is an international platform for economic cooperation. The G20 forum plays a crucial role in reinforcing the global architecture and the governance or administration of all the economic issues that have been doing rounds worldwide. The presidency of G20 for the year 2024 is handed over to Brazil, which will be held on 18 and 19 November 2024 in Rio De Janeiro. In 2023, the 20 summit was headed by India.

Moreover, after discussing establishing the G20 summit, the Group of Twenty was founded in 1999. It was established in the wake of the Asian Financial Crisis.G20 is a platform in which the Central Bank Governors and the Finance Ministers of many countries participate in the summit to discuss financial and economic issues worldwide.

The G20 summit is held once every year under the leadership of the presidency, which is rotated among all the participating countries. The G20 comprises 19 countries in the current situation. The participating countries are as follows Indonesia, Argentina, Canada, Australia, Japan, Mexico, South Africa, United Kingdom, Türkiye, the United States, the Republic of Korea, Australia, China,  Germany, France, Saudi Arabia, Brazil, Russia, Italy and the European Union. In terms of GDP, 85% of the world GDP is represented by the G20 members. Along with this, global trade of over 75% is also done by the G20 members. The various G20 summits held in the previous years have been stated below:

• The First Summit was held in the year 2008 and was hosted by the US in Washington.
• The Second Summit was held in April 2009 and was held in London.
• The Third Summit was held in September 2009 in Pittsburgh.
• The Fourth Summit was held in June 2010 in Toronto.
• The Fifth Summit was held in November 2010 in Seoul.
• The Sixth Summit of G20 was held in November 2011 in Cannes.
• The Seventh Summit of G20 was held in June 2012 in Mexico.

The summits mentioned above are the G20 summit held in 2012. However, after 2012 also, the G20 summit was held every year. The 2023 G20 summit will be held in India and this will be the 18th G20 summit. The 17th G20 summit was held in Bali, i.e. the G20 summit 2022.

As we have mentioned earlier, this year the G20 summit will be held in India. The theme of the G20 Summit 2023 will be ‘One Earth · One Family · One Future’ or ‘Vasudhaiva Kutumbakam’.The inspiration for the theme is the ancient Sanskrit text i.e., Maha Upanishad. The theme indicates the importance of life for every creature present on the earth. The objective of the G20 Summit 2023 is as follows:

• To discuss the policies regarding global economic stability as well as sustainable growth.
• To discuss the crisis of the climate.
• Apart from this, the G20 members are expected to discuss the recovery of many nations from the recent pandemic and the impact of the pandemic on jobs.
• Discussing the Ukraine-Russia Conflict.

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The G20 summit to be held in the year 2023 will be very important for India. The primary point of the discussion for the participating countries will be as follows.

• Economic Growth: The G20 platform is one of the biggest platforms for many developing and developed countries. From this perspective of India, it will provide India with the opportunity to get engaged with many larger and more developed economies all over the world. India will get the opportunity to attract investment into the country, and it will help the nation in its overall development along with its economic growth.
• Financial Stability: Regarding financial stability, India can gain from the discussion regarding financial stability and regulations at the G20 Summit to be held in India.
• Global Issues: The G20 summit is always considered an important platform for discussing global issues. Therefore, India can be considered a platform in which it can address various issues such as the Ukraine-Russia conflict. The G20 summit 2023 can be a game changer regarding this conflict.

World Happiness Index 2023

100 words essay on g20 summit.

The G20 is a forum mainly regarding economic cooperation. Since its inception and implementation, it has played an important role in strengthening world architecture. In addition to this, it has also helped in governing the major economic issues countered by the world. Furthermore, this year the G20 summit will be held in India.

The G20 summit will be from the 9th of September to the 10th of September, 2023 in New Delhi. It will be held under the presidency of India only. The theme of the G20 Summit 2023 will be ‘ One Earth. One Family. One Future’ and ‘Vasudhaiva Kutumbakam’.The G20 Summit 2023 will be important for India from many perspectives.

You can also follow the G20 India Official Twitter Page for more updates on this.

Important Links

Which Country will host the G20 Summit in 2024?

G20 Summit 2024 will be headed by Brazil.

Which country host the G20 in 2023?

India hosts the G20 summit for 2023.

When will the G20 summit be held in 2024?

It is scheduled for 18 and 19 November 2024.

Pankaj Bhatt

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Essay on G20 Summit 2023 in English for School Students

Essay on g20 summit delhi: the g20 summit 2023 is being held in new delhi, india. students must understand how important this is for our nation. check this english essay on g20 summit 2023 and amaze your teachers and friends with your knowledge.

About G20 Summit 2023

The 18th G20 Summit is the high point of a year filled with G20 activities. The G20 Summit 2023 is being held in Delhi, India from September 9 and September 10, 2023.

Who are G20 Members?

When did india join the g20, what is the theme of the 2023 g20 summit delhi, which country will host the g20 presidency in 2024, 200 words essay on g20 summit 2023.

The G20 Summit stands as a pivotal international gathering where the leaders and central bank governors from 20 of the world's most influential economies come together to deliberate on matters of global economic significance. Established in 1999, this summit was conceived to facilitate discussions surrounding policy issues concerning international economic cooperation and development.

The G20 member nations collectively wield tremendous economic power, representing a staggering 85% of the world's Gross Domestic Product (GDP) and a majority of the global population. These member countries include Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Russia, Mexico, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States.

For India, the 2023 G20 is of paramount importance. It serves as a platform through which the nation can engage with the world's foremost economic players, advocating for its economic interests and addressing pressing global concerns. India, with its rapidly growing economy and substantial population, seeks to leverage this forum to not only safeguard its own interests but also to contribute to the resolution of critical global challenges, such as climate change, trade, and economic stability.

Importance of the G20 Summit

Together, the G20 members account for approximately 85% of the world's total economic output (GDP), more than 75% of worldwide trade, and nearly two-thirds of the global population, making it a vital forum for international economic cooperation. The G20 Summit is important as it serves as a platform for the leaders of the world's largest economies to collaborate on pressing global matters. 

At the G20 Summit, leaders exchange ideas, deliberate on policy solutions, and coordinate efforts to tackle various global challenges, encompassing economic issues like recessions, trade, and investments, as well as social concerns like poverty, inequality, and climate change.

Importance of India’s G20 Summit Presidency 2023

G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

During the course of its G20 Presidency, India will host about 200 meetings in 32 different sectors in multiple locations across India.

• According to Prime Minister Modi, this term can be an opportunity for India to share its expertise with the world in areas of women empowerment, democracy and digital technologies.
• As a country with core democratic values, India can show the world that the scope of conflict can come to an end when democracy becomes a culture. This gains significance amidst the ongoing Russia-Ukraine conflict.
• India’s foreign policy is focusing on the ‘global common good’. Through its G20 leadership, India hopes to extend this principle towards finding sustainable solutions to some of the key global challenges emerging out of the interconnectedness of the world, such as climate change, new and emerging technologies, food and energy security, etc.
• This would be the first time when the Troika would consist of three developing countries and emerging economies.
• It is hoped that as a result there would be a shift in the balance of power within the G20 favouring emerging economies to have a greater share in decision-making at this grouping.
• The G-20 Presidency presents a great opportunity for India to correct the long-standing anomalies that go against developing countries, especially in the domain of agriculture and food subsidies.

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Paragraph on G20

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Paragraph on G20 in 100 Words

The G20 is like a big group of friends who are actually countries from all over the world. They meet every year to talk about important things like money, health, and helping the Earth. This group has 20 members, including 19 countries and the European Union. Some of the countries are the United States, United Kingdom, India, and China. They work together to solve big problems. It’s like when you and your friends decide to clean up the playground together, but on a much bigger scale. So, G20 is about teamwork and making the world a better place.

Paragraph on G20 in 200 Words

The G20 is a group of the world’s biggest economies, including 19 countries and the European Union. The 19 countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. Together, they make up about 80% of the world’s economy. They meet every year to talk about important things like money, trade, and issues that affect the whole world, like climate change. The G20 started in 1999, but they began meeting at the level of leaders in 2008 during the big financial crisis to find ways to fix the world’s money problems. Each year, a different country gets to be the host and decide what to talk about. The leaders of the G20 countries work together to make rules and plans that will help all the countries in the group. This way, they try to make the world a better place for everyone. The G20 is very important because when these countries agree on something, it can have a big effect on the world.

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Paragraph on G20 in 250 Words

The G20, short for Group of Twenty, is an international meeting of 19 countries and the European Union. These countries include big economies like America, China, India, and Australia. The European Union, though not a country, joins as a group of many European countries. Together, these nations make up about 80% of the world’s economy. They meet to talk about and solve the world’s biggest financial problems. This could be anything from managing money, trade between countries, environment issues, or even global health issues like the COVID-19 pandemic. The G20 does not make laws or rules, but their discussions and agreements carry a lot of weight because they are such big economies. The meetings happen once a year and the location changes every time. The first G20 meeting was in 1999, but it became more important in 2008 during the global financial crisis. Each year, a different country gets the honor of being the host and leading the conversations. The G20 helps countries work together to solve problems that affect everyone. It’s like a big team meeting for the world’s economies.

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G20 Summit and Global Economic Governance Research Paper

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Working Thesis

Potential argument, hypothesis: use of technology to cut on the costs of the g20 summit, unfulfilled promises, defenders of self interest, the financial stability board, works cited.

The Group of Twenty (G20) summit was established in 1999 following the financial crisis of the late 20th century that affected, especially, Asia (Arner and Schou-Zibell). It consists of twenty Ministers of finance and Governors of Central banks from both emerging-market countries and developed economies (Edkins and Zehfuss). Its first meeting was held in Berlin, Germany, in December 1999. One of the reasons why the G20 summit came into existence was the realization that important emerging-market countries the world over had not been given a forum to discuss economic and governance issues on the world stage. Its mandate is to promote discussion and review of policies between industrialized and emerging-market countries (Blustein).

Before the emergence of the G20 summit, there had been many other similar summits that had come up with an aim of promoting dialogue on issues of governance and economics. These summits ideally came into existence to build financial growth, development, and structure in international relations. They included the G-7, G-22, and G-33 (Dunne and Smith). The larger groups, G-22 and G-33, demonstrated that there were benefits in involving emerging-market countries in regular consultations, leading to the formation of the G20. Unlike other international organizations, the G20 does not have a permanent secretariat and it promotes the informal interchange of ideas and views on international issues (Dunne and Smith).

Each year the summit is held in a different country and in June 2010 it was Toronto’s turn to hold the three-day event. The leaders of the 20 countries would participate in the discussion regarding financial sustainability (Lagarde 078-079). The 20 countries that would be involved are the following: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, United Kingdom and the United States of America. Also in attendance at the G20 summit would be the International Monetary fund’s (IMF) managing director, the World Bank president, and chairpersons several other international committees like the development committee and the International Monetary and financial committee (Samans, Uzan, and Lopez). Their presence is due to the close cooperation between G20 and other international organizations.

Looking at all the countries listed, it is important to note that they are all economically independent and this summit does lack the participation of third world countries. This might mean that the issues afflicting the underdeveloped countries may not be given weight in the G20 summit since there is no one to push for them, except for times when some representatives from such countries are invited, but in such cases, they may not have much of bargaining power like the representatives of the member countries (Brunswick and Evenett 269).

The main purpose of the G20 summit was to have the top 20 economically independent countries come together in hopes to legitimize economic structure around the globe, but this holds to be contradictory. The Toronto G20 summit was focusing on recovery and new beginnings as its theme. In this summit, issues to do with financial reform progress and the development of stimulus measures that are sustainable were discussed. Issues of bank tax and promotion of open markets world over were also debated (Dvorak). However, the following facts should be considered when referring to the Toronto G20 summit and its overall impact on enhancing better world economy. The summit was nothing more than a media frenzy that didn’t need the amount of attention that it received. This three day event cost Canada and the tax payers a billion dollars (Msnb). It was held in one of the busiest places in Canada and therefore affected the day to day activities of many people and ventures (Dvorak). One of the most important factors this essay will study is G20, like many of the other summits before it, has yet again accomplished very little as compared to the time and money spent on the event.

The G20 summit cost Canadian taxpayers a billion dollars. What was the billion dollars spent on lingered in the minds of most Canadians. Statements by the Parliamentary office demonstrated that the summit had cost Canadians 930 million dollars in safety measures only. This security operation was the most expensive in the history of Canada. Together with other hosting costs including nearly 2 million dollars for marketing and media, the total amount comes to about 1 billion dollars. When looking at these figures and those of other G20 summit meetings, it is very astonishing to see how much of the taxpayers’ money was spent on security alone and the question whether this was necessary lingers on, bearing in mind that some people in third world countries are in need of aid (Msnb).

The meeting was held in downtown Toronto, one of the busiest areas, and this affected residence, business, employees, pedestrians, transit riders, cyclists, motorists, students, those leaving town, the homeless, and lastly the tourist (Dvorak). One of the biggest tourist attractions, The CN tower, was closed for the summit. Although this attraction was only closed for a 3 days, it would negatively impact on Canada’s economy as it is a daily income generating site (Gothamist). The summit was rocked by widespread protests which stated several days prior to the summit. These protests were part of the reason for the expenses incurred on security measures. They also served to worsen an already bad situation for day to day activities for residents and business ventures as more than 900 people were arrested within a week, some streets were closed down and some buildings attacked. This further heightened the economic burden that came with hosting the G20 summit (Dvorak).

What comes out of this summit? Twenty large economies came together, for a three day affair, but one must essentially wonder what changes were made in previous summits and this past G20 summit. The G20 summit held in Toronto came to the conclusion that these represented economies should keep more financial capital in their banks in case of economic upsets in the future. The developed nations’ leaders also agreed on debt-to-GDP ratio reduction by the year 2016 as well as taxing financial institutions. The need for the capital reserve was to have restrictions on many of the countries that did not have them in place already, which resulted in the recession of 2009. The United States, which did not hold any restrictions on their banks, resulted in many banks as well as economy to go downhill (Lagande, 078-079).

Although it is apparent that this meeting was needed, one may ask: was the cost worth it? The 20 countries that did participate in the summit are already economically independent, which is one of the reasons protesters feel that the G20 summit is a waste of time and money (Brusick and Evenett 269). The issues that the third world countries are mostly concerned with, namely food security and climate change did not get a significant resolution during this summit. It is due to this that Protestors believe that the summit is only helping the economically successful countries gain more success instead of helping the third world countries that need the help (Brusick and Evenett 269). The results were the enduring cycle of the wealthy getting wealthier as well as the underprivileged getting more pitiable. At the end of the meeting, joblessness remains a challenge to those in underdeveloped countries and due to this they continue to suffer in poverty (Coats, Hutton and razarelli).

It is tradition to do these summits in person as seen in the G20 summit and many of the previous summits, but with the changing economy and technology it would be more efficient to have such summits in another manner which would cut cost especially in security, infrastructure, travel and accommodation. This would also make sure that the day to day activities of hosting countries, including businesses and other income generating ventures like tourism are not interfered with (Dvorak). The media has a large part in the amount of security that is needed in such political events. If the summit had been done in other technological means without attracting the attention of protestors little or no security would be needed. The destructive effects of protests, both to the economy and security of the country, would be avoided (Gothamist). With society changing and technology advancing 20 people don’t have to be in the same place at the same time to discuss world matters. This would also protect against excessive media coverage of a highly political event. The net effect would be a significant cut in the cost of holding the G20 summit. The saved finances would then be focused on other issues like provision of basic needs to those who lack them.

Since the summit was held in Toronto, there have been 94 protectionist measures implemented by the G20 member governments, with just 44 of similar measures being implemented by the rest of the world (Evenett 22). The world over, there has been 100 neutral measures formulated and implemented since June 2010, with G20 member countries implementing only 29% of these (Evenett 22). This shows a serious mismatch between what the G20 summit concludes and the action taken by the member countries. If this is the trend, is there a need to spend so much money on G20 summit to make resolutions that will not be followed by those making them? This question needs to be answered for the need for and the importance of the G20 summit to be ascertained.

It is clear that governments which are not members of the G20 summit are better at keeping markets open than those who made the resolution to do so in Toronto. There is a great mismatch between word and action of the developed countries. The same governments that spoke of their desire to promote development by encouraging trade between them and the third world countries are instead harming these poor countries through their protectionist measures (Evenett 22). The G20 members are ranked top among countries that have caused economic harm to their lesser trading partners (Evenett 23).

The following table shows the biggest targets of discriminatory measures at different times before and after the summit (Evenett 25).

Table 1: Highest targets of discriminatory measures

The table below shows by rank the countries that have inflicted the most harm to others. It shows that the economically stable countries of the G20 are in the forefront of inflicting harm to their trading partners (Evenett 26).

Table 2: Rank of countries inflicting the most harm

As seen in the G20 meetings in Washington and London, the member countries showed that they can act together on serious issues affecting them, like the financial recession. The nations demonstrated their willingness to engage in any actions necessary in a bid to stabilize their financial systems (Blustein and Prasad). Such actions included nationalization of banks and creation of insurance schemes that would help clear toxic debts as well as availing bail-outs. There was also reduction of interest rates as a policy measure to boost the economic recovery process. These economic heavy weights encouraged support of their development agenda by the World Bank through its new infrastructure as well as trade finance facilities (Lagande 078-079). They also resolved to strengthen regulatory regimes as they did for financial markets in a bid to prevent further economic crises. During the Washington G20 meeting, the member countries stressed the importance of assisting the poorest countries in the world to develop. Emerging economies would also be helped to get finances through the IMF and development banks. The intent to help the poor countries seems noble and would momentarily bring an illusion of relief to these countries, but the developed countries just stressed the importance of helping them with no commitment or plans of doing so being drawn (Brusick and Evenett).

From these summits, it is clear that the developed countries can act in haste when matters affecting them directly arise and they defend their interests with whatever action that is necessary. It cannot be expected that they react with the same zest when there are issues affecting the poor countries, but at least including the in the membership of the G20 would give them a forum to push for consideration of those problems afflicting them (Brusick and Evenett).

The financial stability board (FSB) came up as a result of re-establishment of what was formerly known as the Financial Stability Forum (FSF) during the G20 meeting in London. It was mandated with the task of promoting financial stability among the G20 member countries, but its coverage extends to cover the European commission and Spain. The FSB monitors and advises the member countries on issues to do with market development, highlighting the possible effects on regulatory policy. It undertakes strategic reviews of the work on policy development done by standard setting institutions in an effort to ensure timely and coordinated focus on priorities that cover financial gaps (Samans, Uzan and Lopez). It also comes up with guidelines and support for supervisory colleges’ establishment and operation by identifying the most important and systemically appropriate cross-border firms. It then coordinates planning to manage cross-border crisis with reference to the identified important cross-border firms. In conjunction with the IMF, the FSB identifies early warning signs of financial risks and recommends actions that can be used to deal with the threat.

The FSB is therefore concerned about the financial welfare of the G20 member countries which, as earlier indicated, comprise of the world’s greatest economies and upcoming promising economies. This further proves the theory earlier generated that the process adopted by the G20 seeks to safeguard the rich and make them richer while the poor remain in poverty. The developing countries could benefit significantly from the services of the FSB in helping them from their financial difficulties through strategic planning (Brusick and Evenett).

From the text presented in this paper, it can be concluded that the G20 summit is necessary for handling the economic and governance issues of the member countries. The summit provides a forum in which matters of global importance are discussed and solutions formulated. It also works hand in hand with other global organizations like the World Bank and the IMF to facilitate solutions to various challenges. Through the FSB, it helps identify economic warnings early enough for preventive measures to be put in place. Therefore, the importance of the G20 summit cannot be underestimated (Blustein and Prasad).

However, the G20 summit has its blemish on different areas. First, its organization and operation of meetings is too expensive, as seen in the 2010 Toronto summit in which approximately 1 billion dollars was used, most of it going to security. This leaves the desire for a way to change how these summits are done in a bid to cut the costs and direct the funds to other areas which are more critical, like helping poor countries develop (Brusick and Evenett).

It is apparent that the G20 summit does not concentrate on issues that do not affect the member countries directly as much as they concentrate on those issues directly affecting them. Since the membership of the G20 does not include poor third world countries, this means that issues affecting them are not given weight for them to be attended to well and solutions found (Brusick and Evenett).

The G20 summit continues to use a lot of money on issues like organising meetings while the poor countries of the world suffer in poverty. Though the G20 is necessary, something should be done on its membership to involve third world countries and cut down the cost of running it (Blustein and Prasad).

Arner, Douglas, and Lotte Schou-Zibell. Asian regulatory responses to the Global Financial Crisis: Global journal of emerging market economies , 3, 1 (2011): 135- 169.

Blustein, Paul, and Eswar Prasad. Recovery or relapse: the role of the G20 in the global economy. Washington D.C: global economy and development at Brookings, 2010.

Brusick, Philippe, and Simon J. Evenett. “Should the developing countries worry about abuse of dominant power?” Wisconsin law review , 2 (2008): 269.

Coats, David, Will Hutton, and Matteo Razzanell. Tackling the global jobs crisis: Why the G20 summit matters . London: The Work Foundation, 2009.

Dunne, Timothy, Milja Kurki, and Steve Smith. International relations theories. New York: Oxford University Press, 2010.

Dvorak, Phred. “Toronto Locks Down for G-20 Summit”. The Wall Street Journal. Dow Jones and Company Inc. 2011.

Edkins, John. and Zehfuss, Michael. Global politics. London : Routledge, 2009.

Evenett , Slyst. Broken promises: a G20 summit report by global trade alert. London: centre for Economic Policy research, 2009.

Msnb . G-20 Summit: ‘$1 Billion Boondoggle?’ 2011. WEB.

Gothamist LLC . How will the G-20 affect everyone, From Cyclists and Tourists . 2011.

Lagande, Charles. “How the G20 must unite to stave off further global financial crises.” business week- New York, 4149 ( 2009): 078-079.

Samans, Richard, Marc Uzan, and Augusto López-Claros.. The international monetary system, the IMF, and the G20: a great transformation in the making? Basing stoke: Palgrave Macmillan, 2007.

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Essay on G20

Introduction to G20

The Group of Twenty (G20) stands as a pivotal forum in contemporary global economic governance, offering a platform for the world’s most influential economies to collaborate on addressing pressing economic challenges. Emerging in the wake of 2008, the G20 has transformed from a platform where finance ministers discuss to a high-profile summit attended by world leaders. With its diverse membership and broad mandate, the G20 is crucial in steering international economic policy, fostering cooperation, and ensuring financial stability. This essay explores the origins, composition, objectives, achievements, challenges, and future prospects of the G20, shedding light on its significance in shaping the trajectory of the global economy.

Origins and Evolution of the G20

The Group of Twenty, commonly known as the G20, emerged as a response to the global economic challenges of the late 20th century. Its origins and evolution reflect the need for a more inclusive forum for international economic cooperation.

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• Historical Context: The G20 originates from the aftermath of the Asian financial crisis in 1997 and 1998 . This crisis highlighted the shortcomings of the existing economic governance structures, particularly the dominance of the Group of Seven (G7) countries.
• Emergence and Formation : In 1999, finance ministers and central bank governors from 19 major economies and the European Union convened for the first G20 meeting in response to the Asian financial crisis. This gathering marked the formal inception of the G20. Leaders established the G20 as a platform for discussing and coordinating economic policies, focusing on promoting financial stability and sustainable growth.
• Expansion to Leaders’ Summit : Following the global financial crisis in 2008, leaders elevated the G20 to a summit level. This decision reflected the recognition of the need for high-level political engagement to address the magnitude of the crisis and its global ramifications. The first G20 leaders’ summit was held in Washington, D.C., in November 2008, where leaders pledged to take coordinated action to stabilize financial markets and support economic recovery.
• Evolution of Mandate and Scope : Over time, the G20’s mandate has expanded beyond its initial focus on financial stability to encompass a broader range of economic issues, including trade, investment, development, and climate change. The G20 stands as the foremost platform for international economic cooperation, uniting the world’s major economies to tackle common challenges and promote policy coordination.
• Key Milestones : The G20 has convened annual summits since 2008, with each summit addressing the global economy’s priorities and challenges. Notable milestones include adopting the G20 Action Plan for Growth and Jobs, establishing the Financial Stability Board (FSB), and developing the Sustainable Development Goals (SDGs).
• Continued Relevance and Adaptation : The G20 continues to adapt and evolve to remain relevant despite growing global economic dynamics and emerging challenges. The G20 has played a crucial role in coordinating responses to crises such as the COVID-19 pandemic, demonstrating its agility and capacity for collective action in times of need.

Composition and Membership

• Core Membership: The G20 comprises 19 individual countries and the European Union (EU), representing a diverse mix of advanced and emerging economies. These countries are selected based on their significant economic influence, representing approximately 85% of the global GDP and two-thirds of the world’s population.
• Inclusion Criteria: Membership in the G20 is based primarily on economic criteria, including a country’s GDP, trade volume, and strategic importance in the global economy. While there are no formal criteria for inclusion, organizers typically invite countries with the largest economies and most significant influence on global economic dynamics to join.
• Selection Process: G20 membership is not fixed and can evolve over time. New members may be invited based on changes in economic status or geopolitical considerations. The G20 operates on a consensus basis, and membership decisions are made collectively by existing members.
• Non-Member Invitees: The G20 extends invitations to guest countries and international organizations, besides its core members, for participation in its meetings. These invitees may include representatives from smaller economies, regional groupings, or international financial institutions.
• Outreach Groups: The G20 engages with various outreach groups, including the Business 20 (B20), Civil 20 (C20), Labour 20 (L20), Think 20 (T20), and Women 20 (W20). These groups represent different stakeholders, such as the business community, civil society, labor unions, think tanks, and women’s organizations, and they provide input and recommendations to G20 leaders.
• Representation and Diversity: While the G20 represents a significant portion of the global economy, it also faces challenges related to representation and diversity. Critics argue that smaller economies and developing countries are underrepresented in the G20, limiting their ability to influence decisions that affect them.
• Flexibility and Adaptability: The G20’s composition is dynamic and adaptable, allowing flexibility in addressing emerging economic challenges and incorporating diverse perspectives. The G20 maintains relevance in a swiftly evolving global economic landscape and tackles a broad spectrum of issues impacting the international community due to its flexibility.
• Impact of Membership: G20 membership confers influence and responsibility on member countries, providing a platform to shape global economic policy and governance. However, membership also entails commitments to cooperative action and collective decision-making, requiring member countries to balance national interests with the broader objectives of the G20.

Members of G20

The G20 comprises 19 individual countries and the European Union (EU). The member countries are:

Additionally, the European Union (EU) participates as a member in the G20 meetings, contributing to the group’s total of 20 members.

Objectives and Mandates

The Group of Twenty (G20) has broad objectives and mandates to promote global economic stability, sustainable development, and cooperation among its member countries. Elaborate on these objectives and mandates as follows:

• Economic Stability: One of the G20’s primary objectives is to promote global economic stability by coordinating policies to address macroeconomic imbalances, financial vulnerabilities, and systemic risks. The G20 seeks to prevent and mitigate financial crises, enhance resilience to shocks, and foster sustainable economic growth through policy coordination, exchange rate stability, and prudent macroeconomic management.
• Financial Regulation and Reform: The G20 is committed to strengthening the international financial system by implementing comprehensive regulatory reforms to address the root causes of the 2008 global financial crisis. Key focus areas include enhancing financial sector supervision, improving risk management practices, and increasing transparency and accountability in financial markets. Initiatives such as the Basel III framework for banking regulation, reforms to over-the-counter derivatives markets, and efforts to address “too-big-to-fail” banks are part of the G20’s agenda to promote financial stability and prevent future crises.
• Sustainable and Inclusive Growth: The G20 acknowledges the significance of promoting sustainable and inclusive economic growth that benefits all segments of society, including marginalized and vulnerable populations. The G20’s agenda for inclusive growth includes measures to combat climate change , increase access to healthcare and education, decrease income inequality, and promote job development. The G20 also prioritizes the United Nations Sustainable Development Goals (SDGs) and seeks to align its policies with the broader international development agenda to achieve sustainable development outcomes globally.
• International Trade and Investment: The G20 supports an open, transparent, and rules-based multilateral trading system that fosters global trade and investment flows. Member countries commit to refraining from protectionist measures and working towards removing trade barriers to promote economic integration and competitiveness. The G20 also addresses trade imbalances, intellectual property rights, market access, and trade facilitation to promote a level playing field for businesses and ensure trade benefits are widely shared.
• Global Governance and Cooperation: The G20 is a venue for discussion, collaboration, and collective action on a wide range of global economic concerns, such as taxation, anti-corruption, infrastructure development, and digitization. Member countries collaborate with international organizations, such as the World Bank, (IMF) International Monetary Fund, and World Trade Organization (WTO), to strengthen the effectiveness of global governance mechanisms and address common challenges.
• Crisis Response and Management: The G20 is crucial in crisis response and management, providing a platform for coordinated action during economic and financial turmoil. Member countries commit to taking timely and decisive measures to restore confidence, stabilize financial markets , and support economic recovery in crises or emergencies.

Structure and Decision-Making Process

The Group of Twenty (G20) operates with a flexible structure and decision-making process that accommodates its member countries’ diverse interests and priorities. This section outlines the key components of the G20’s structure and decision-making process, including:

Organizational Structure:

• Presidency: The G20 operates on a rotating presidency system, where a member country holds the presidency for one year. The presidency sets the agenda, organizes meetings, and facilitates discussions among member countries.
• Sherpa Process: Each member country appoints a sherpa, who serves as the personal representative of the head of state or government in G20-related matters. Sherpas are crucial in coordinating negotiations, preparing summit agendas, and advancing their country’s interests within the G20.
• Working Groups: The G20 establishes working groups on specific thematic areas, such as finance, trade, development, and climate change . These working groups conduct technical analysis, develop policy recommendations, and facilitate discussions among experts and policymakers.

Decision-Making Processes:

• Consensus Building: The G20 operates on the principle of consensus, where member countries reach decisions through dialogue and negotiation. Consensus building allows for accommodating diverse viewpoints and ensures broad ownership of decisions.
• Informal Nature: The G20 is an informal forum without legally binding commitments or formal voting procedures. Instead, member countries base decisions on mutual agreement and political commitments.
• Declaration and Communiqués: After each summit, the G20 issues a declaration or communiqué summarizing the key outcomes, policy priorities, and commitments agreed upon by member countries. These documents guide future action and serve as a basis for monitoring progress.

Summit Meetings:

• Annual Summit: The G20 convenes an annual summit of heads of state or government hosted by the country holding the presidency. The summit allows leaders to discuss pressing economic issues, exchange views, and make policy decisions.
• Ministerial Meetings: Besides the annual summit, the G20 holds ministerial meetings yearly, focusing on specific thematic areas such as finance, trade, labor, and environment. These meetings provide opportunities for in-depth discussions and policy coordination among ministers and officials.

Outreach and Engagement:

• Engagement Groups: The G20 engages with various stakeholder groups, including business, civil society, labor unions, and think tanks, through engagement groups such as the Business 20 (B20), Civil 20 (C20), and Labor 20 (L20). These groups provide input, recommendations, and expertise to inform G20 discussions and outcomes.
• Dialogue with International Organizations: To leverage their experience and advance consistency in global economic policy, the World Bank, the International Monetary Fund (IMF), the World Trade Organization (WTO), and the Organization for Economic Cooperation and Development (OECD) are just a few of the global institutions with which the G20 works.

Major Achievements

The G20 has been instrumental in achieving significant milestones and facilitating crucial reforms in global economic governance. Here are some of its major achievements:

Challenges and Criticisms

Despite its achievements and contributions to global economic governance, the Group of Twenty (G20) faces several challenges and criticisms that warrant attention. These challenges and criticisms include:

• Representation and Legitimacy: Critics argue that the G20’s membership needs to adequately represent the diversity of the global economy, with some regions and countries underrepresented or excluded from the decision-making process. The informal and exclusive nature of the G20 raises questions about its legitimacy and accountability, as decisions made by a select group of countries may not reflect the interests and perspectives of the broader international community.
• Ineffectiveness and Implementation Gaps: Critics have criticized the G20 for its limited effectiveness in implementing policy reforms and achieving tangible outcomes despite its ambitious agenda and commitments. Implementation gaps and delays in translating agreements into concrete actions undermine the G20’s credibility and erode trust among member countries and stakeholders.
• Lack of Enforcement Mechanisms: The G20 operates without formal enforcement mechanisms or binding commitments, relying instead on voluntary cooperation and peer pressure to encourage compliance with agreed-upon measures. The absence of enforceable rules and sanctions limits the G20’s ability to hold member countries accountable for their commitments, leading to uneven implementation and compliance.
• Narrow Focus and Prioritization: Critics argue that the G20 often dominates its agenda with short-term economic and financial issues, neglecting broader challenges such as social inequality, environmental sustainability, and human rights . The G20’s narrow focus on economic growth and stability may overlook structural issues and systemic imbalances that require long-term solutions and holistic approaches.
• Lack of Civil Society Engagement: Civil society organizations and grassroots movements have raised concerns about the need for more meaningful engagement and participation in G20 processes. The G20’s opaque decision-making processes and limited opportunities for civil society input hinder transparency, accountability, and democratic governance.
• Geopolitical Tensions and Divisions: Geopolitical tensions and rivalries among G20 member countries, such as those between the United States, China, and Russia, pose challenges to consensus-building and cooperation within the forum. Divisions over trade disputes, geopolitical conflicts, and ideological differences can hinder progress on shared objectives and undermine the G20’s effectiveness as a platform for global economic governance.

Future Prospects and Recommendations

There are chances for the Group of Twenty (G20) to increase its influence over the direction of global economic governance as it continues to manage intricate geopolitical dynamics and challenging global economic issues. Future prospects and recommendations for the G20 include:

• Enhanced Multilateral Cooperation: The G20 should prioritize strengthening multilateral cooperation and dialogue among its member countries, fostering trust, and building consensus on shared objectives and challenges. Prioritizing diversity, openness, and accountability can improve the G20’s credibility and efficacy as a platform for international economic governance.
• Comprehensive Policy Agenda: The G20 should adopt a comprehensive policy agenda that addresses short-term economic and financial issues and broader challenges such as climate change, social inequality, and technological innovation. Balancing economic growth with sustainability, equity, and resilience can promote more inclusive and sustainable development outcomes globally.
• Institutional Reform and Governance: The G20 should consider institutional reforms to enhance its governance structure and decision-making processes, ensuring greater representation and participation of all member countries and stakeholders. Exploring mechanisms for accountability, enforcement, and peer review can strengthen the implementation of agreed-upon measures and enhance the G20’s effectiveness in addressing global challenges.
• Engagement with Civil Society and Stakeholders: The G20 should engage more actively with civil society organizations, academia, businesses, and other stakeholders to foster transparency, inclusivity, and dialogue. Creating platforms for meaningful participation and consultation can enrich policy discussions, build public trust, and enhance the relevance of the G20’s decisions and initiatives.
• Innovation and Adaptation: The G20 should embrace innovation and adaptability to respond effectively to emerging challenges and opportunities in the global economy. Leveraging digital technologies, data analytics, and scientific research can facilitate evidence-based policymaking and enhance the G20’s capacity to address complex and interconnected issues.
• Commitment to Sustainable Development: The G20 should reaffirm its dedication to sustainable development goals, including climate action, poverty reduction, and gender equality . Integrating sustainability considerations into economic policies, investment decisions, and infrastructure development can promote green growth and build resilience to environmental and social risks.
• Strengthening Global Health Security: Building on lessons learned from the COVID-19 pandemic, the G20 should prioritize strengthening global health security and pandemic preparedness. Investing in healthcare systems, vaccine production capacity, and international cooperation can mitigate the impact of future health crises and promote global health equity.

The G20 has proven instrumental in navigating complex global economic challenges, fostering cooperation among member countries, and shaping international policy responses. Through collaborative efforts, the G20 has achieved notable milestones in financial regulation, trade facilitation, crisis management, and global health response. However, the forum faces ongoing challenges, including representation issues and divergent national interests. Despite these challenges, the G20 remains a vital platform for addressing shared global concerns and advancing collective prosperity. Moving forward, sustained commitment to dialogue, cooperation, and multilateralism will be essential to effectively tackle evolving threats and promote inclusive and sustainable economic growth on a global scale.

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Essay on Group of twenty (G20)

Essay – group of twenty (g20).

Group of twenty (G20) Essay: The group of twenty or G20 is the premier level intergovernmental forum to manage international economic actions with cooperation of all member countries. The forum plays significant role in monitoring and strengthening major economic issues all over the world. India holds the presidency for G20 forum for 20222 which will occur from December 1 2022 to November 30 2023. The theme of G20 presidency by India is confirmed as “VasudhaivaKutumbakam” or “one Earth. Our family. One future.” India is all set with its structured strategies for successful economic actions of G20. In the present essay, all the aims and work procedures of G20 will be discussed.

Members of G20:

Main initiatives of g20:.

The G20 presidency presents the entire G20 agenda for one long year by hosting the summit first. The G20 is divided into two parts which are finance track and Sherpa track. The finance track is maintained by finance ministry, ministers and banks which the Sherpa track is regulated by Sherpa track. Sherpas from member countries also take part in Sherpa track who are personal emissaries of the leaders. During each presidency the working groups of different member countries meet to work together on accomplishing the objectives. In the Sherpa track, member countries follow the same strategy to complete the tasks as per the formulated agenda. There are also additional groups to support financial activities like civil societies, think tanks, parliamentarians, women, youth group, labour, business and researchers’ group from the G20 countries. The G20 group is supported by the Troika as it does not have a permanent secretariat and it includes the previous, present and upcoming presidency of G20. Like this time of India’s presidency the troika will be formed by India, Indonesia and Brazil together.

Planned priorities:

Conclusion:.

Being Indians it is proud moment for us when India is presenting the G20 presidency summit with its full agenda. In the summit program, India showcased many of its traditional and cultural events in the global platform which proved the diversity of India. All the aims and objectives of the G20 agenda are announced and discussed with member countries’ views. We are hopeful that we will get positive outcome of present G20 summit in financial section and services soon.

FAQs on Group of twenty (G20) Essay Writing:

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100, 200, 300, 400, 500 Words G20 Essay In English & Hindi

Table of Contents

Short Paragraph on G20 in English

The G20, also known as the Group of Twenty, is an international forum that brings together the world’s major economies to discuss global economic issues. It was established in 1999, in the wake of the Asian financial crisis, with the purpose of promoting international financial stability and sustainable economic growth.

The G20 consists of 19 countries and the European Union, which collectively represent around 90% of the global GDP and two-thirds of the world’s population. Member countries include the United States, China, Japan, Germany, France, and many others. They are selected based on their economic weight and contribution to the global economy.

One of the main objectives of the G20 is to foster policy coordination among its members. The forum serves as a platform for leaders and finance ministers to discuss and coordinate on a range of issues, such as exchange rates, trade, investment, financial regulation, energy, and climate change. It provides an opportunity for these nations to address economic challenges collectively and find common solutions.

Another important aspect of the G20 is its commitment to inclusivity. Apart from its member countries, it also engages with various international organizations, regional forums, and invited guest countries to create a broad representation of the global economy. This inclusivity ensures that multiple perspectives are considered and reflects the forum’s recognition of the interconnectedness of economies around the world.

The G20 has played a pivotal role in shaping global economic policies and responding to crises. During the 2008 financial crisis, G20 leaders came together to coordinate a response that included measures to stabilize the financial system and stimulate economic growth. The forum has since continued to address issues such as trade tensions, digitalization, inequality, and sustainable development.

In conclusion, the G20 is an important forum that brings together the world’s major economies to address global economic challenges. Through policy coordination and inclusivity, it aims to promote stability and sustainable growth. The G20’s role is crucial in navigating today’s complex economic landscape and shaping the future of the global economy.

100 Word G20 Essay in English

The G20 is an international forum consisting of world leaders and central bank governors from 19 countries and the European Union. It aims to promote global economic stability, growth, and development through cooperation and dialogue. In this essay, I will describe the G20 in 100 words.

The G20 serves as a platform where leaders discuss pressing issues such as international trade, financial regulation, and global development. It plays a crucial role in shaping the global economic agenda and seeking solutions to challenges that affect people worldwide. With its diverse membership, representing around 80% of the global GDP, the G20 has the power to influence policies and foster collaboration on economic matters. By fostering dialogue and cooperation among nations, the G20 works towards ensuring sustainable and inclusive economic growth, fostering financial stability, and addressing global challenges such as climate change.

200 Word G20 Essay in English

The G20, also known as the Group of Twenty, is an international forum that brings together the world’s major economies to discuss and coordinate economic policies. It was established in 1999 in response to the financial crises of the late 1990s, with the aim of promoting stability and sustainable growth.

The G20 consists of 19 individual countries, including the United States, China, Germany, and Japan, as well as the European Union. Together, these economies represent around 85% of global GDP and two-thirds of the world’s population. The group also invites guest countries and organizations to participate in their discussions.

The main objectives of the G20 are to promote international financial stability, enhance economic cooperation, and address global economic challenges. Its members hold regular summits, where they discuss various issues such as trade, finance, climate change, and development.

The G20 has played a crucial role in coordinating responses to global crises. During the 2008 financial crisis, for example, the member countries took collective actions to stabilize the global economy and strengthen financial regulations. They also launched initiatives to address the risks associated with excessive global imbalances and promote inclusive growth.

In recent years, the G20 has expanded its focus to include other important issues such as climate change and sustainable development. At the 2015 summit in Antalya, Turkey, the group adopted the “G20 Climate and Energy Action Plan,” which aims to promote low-carbon growth and increase energy efficiency.

Critics argue that the G20 lacks democratic legitimacy since it includes only a select group of countries and excludes many smaller economies. However, supporters argue that the G20 provides a more agile and effective platform for global economic governance than other institutions such as the United Nations or the International Monetary Fund.

350 Word G20 Essay in English

The g20: fostering global cooperation for economic prosperity.

The G20, or Group of Twenty, consists of the world’s largest economies, representing around 85% of global GDP and two-thirds of the world’s population. Established in 1999, the G20 aims to promote international economic stability and sustainable growth. Its significance lies in the power of collaboration, as it brings together leaders from diverse nations to address pressing global issues.

One of the key arguments in favor of the G20 is its ability to facilitate dialogue and cooperation among nations. By providing a platform for exchange, the G20 encourages constructive discussions, leading to effective policy decisions. In an increasingly interconnected world, it is crucial to have a mechanism that fosters economic cooperation and coordination between countries.

Moreover, the G20 plays a vital role in tackling global challenges. With the world facing complex issues such as climate change, income inequality, and financial crises, the G20 can act as a catalyst for collective action. By encouraging its members to work together, it can generate innovative solutions that address these challenges in a holistic manner.

Critics may argue that the G20 is an exclusive forum that undermines the role of other nations. However, it is important to note that the G20 explicitly seeks to represent a broad range of countries, including emerging economies. While not every nation can be part of this group, the G20 maintains a commitment to inclusivity by continuously engaging with non-member countries and soliciting input from various stakeholders.

Additionally, the G20 has been instrumental in stabilizing global economies during times of crisis. The 2008 financial meltdown is a significant example, where the G20 played a crucial role in coordinating efforts to restore confidence and prevent a complete collapse of the global financial system. This demonstrates the importance of having a platform for leaders to come together and formulate immediate responses to crises.

In conclusion, the G20 offers a valuable platform for fostering global cooperation. Its ability to provide a space for dialogue, address global challenges, and stabilize the world economy makes it a vital institution in today’s complex international landscape. While improvements and inclusivity are necessary, the G20 remains essential for promoting economic prosperity and sustainable development worldwide.

400 Word G20 Essay in Hindi

The G20, also known as the Group of Twenty, is an international forum consisting of the world’s major economies. Established in 1999, its primary goal is to promote global economic stability and sustainable development. This essay will provide an expository analysis of the G20, highlighting its objectives, functions, and impact.

The G20 brings together leaders from 19 countries, representing approximately 80% of the world’s GDP, along with the European Union. The member states include major economies like the United States, Japan, China, and Germany. The forum provides a platform for these nations to discuss economic and financial matters and collaborate on addressing global challenges.

One of the key objectives of the G20 is to stabilize the global economy. Through coordinated policy actions, member states aim to prevent economic crises, promote growth, and address financial vulnerabilities. During times of economic turmoil, such as the global financial crisis in 2008, the G20 plays a crucial role in formulating and implementing collective measures to stimulate the economy and restore financial stability.

Another important function of the G20 is to foster international cooperation on sustainable development. Recognizing the interconnectedness of economic, social, and environmental challenges, the forum promotes inclusive and environmentally responsible growth strategies. It encourages collaboration on issues like climate change, energy transition, and poverty eradication.

The G20’s impact extends beyond its member states. As a forum representing the majority of the world’s economy, the decisions and commitments made by the G20 have a significant global influence. Recommendations and policy agreements reached at G20 summits shape international economic governance and set the agenda for global economic policies.

Furthermore, the G20 provides an opportunity for dialogue and engagement with non-member countries and international organizations. It invites guest countries and organizations to its meetings to ensure broader representation and gather diverse perspectives. Through this outreach, the G20 promotes inclusivity and seeks input from a wide range of stakeholders.

In conclusion, the G20 is an essential forum for addressing global economic challenges and promoting sustainable development. Its objectives include stabilizing the global economy, fostering international cooperation, and promoting inclusive growth. As a platform for major economies to collaborate, the G20’s decisions and commitments have a significant impact on global economic governance. By engaging with non-member countries and organizations, it strives for inclusivity and broader representation. Overall, the G20 plays an instrumental role in shaping the international economic landscape and addressing the pressing economic and social issues of our time.

500 Word G20 Essay in Hindi

The G20, also known as the Group of Twenty, is an international forum made up of the world’s major economies, including both developed and developing countries. It was established in 1999 to address global economic issues and promote economic cooperation among its members. The G20 consists of 19 countries plus the European Union, representing over 80% of the global GDP and two-thirds of the world’s population.

One of the primary purposes of the G20 is to discuss and coordinate policies related to international finance and economics. The G20 meetings provide a platform for world leaders to come together and address pressing global economic challenges, such as financial stability, trade, and sustainable development. These discussions involve key topics such as macroeconomic imbalances, fiscal and monetary policies, and structural reforms.

In addition to economic issues, the G20 also focuses on other pressing global challenges, including climate change, energy, and development. The forum recognizes the interconnectedness of the world and the need for collective action to tackle these complex issues. It has become a platform for leaders to engage in dialogue, share best practices, and seek common solutions to global problems.

The G20 is characterized by its inclusive nature. In addition to the members, the forum invites guest countries and representatives from international organizations to participate in its meetings. This inclusivity ensures that a wide range of perspectives are considered and that the decisions made reflect the diversity of the global community.

Another notable aspect of the G20 is its commitment to consensus-based decision-making. While the forum lacks formal decision-making power, its members strive to reach consensus on key issues. This approach fosters cooperation and ensures that the G20 remains an effective platform for international dialogue and cooperation.

Over the years, the G20 has played a crucial role in shaping global economic policies. It has been instrumental in coordinating responses to financial crises, fostering economic growth, and promoting international cooperation. The G20 has also been instrumental in driving efforts to tackle climate change, such as the Paris Agreement, highlighting its significance beyond economic matters.

In conclusion, the G20 is an international forum that brings together major economies to discuss and coordinate policies on global economic issues. With its inclusive and consensus-based approach, the G20 plays a vital role in addressing economic challenges, promoting sustainable development, and fostering international cooperation. As the world becomes increasingly interconnected, the relevance and impact of the G20 are expected to grow, making it an essential platform for global governance.

प्रदूषण की समस्या पर 100, 200, 300, 400 और 500 शब्दों का निबंध। (Pradushan Ki Samasya)

300, 400, 500, 600 & 700 Words Speech on G20 in English & Hindi

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Essay on G20 – Full Form, Purpose, Composition & Achievements

Table of Contents

Introduction

The Group of Twenty, commonly known as the G20 , stands as a pivotal international forum for global economic cooperation and policy coordination. Formed in the wake of the 2008 financial crisis, the G20 has evolved into a critical platform for addressing pressing global issues and fostering international collaboration among the world’s major economies. This essay explores the G20’s origins, purpose, composition, headquarters, achievements, and the role it plays on the global stage.

Purpose and Origins

The G20, in its full form “Group of Twenty,” is an international forum comprising 19 individual countries and the European Union, representing a diverse cross-section of both developed and emerging economies. The G20’s primary purpose is to facilitate discussions and cooperation on international financial stability and economic issues. It was established in 1999 in response to the need for a more inclusive forum for economic dialogue, recognizing that traditional institutions like the International Monetary Fund (IMF) and the World Bank were not adequately representative.

Composition and Member Countries

The G20 includes the following member countries and organizations:

• Saudi Arabia
• South Africa
• South Korea
• United Kingdom
• United States
• European Union

Each member represents a significant share of the world’s economy, and their collective participation ensures a broad and inclusive approach to addressing global economic challenges.

Headquarters and Meetings

The G20 operates without a permanent secretariat or headquarters. Instead, it convenes annual summits hosted by rotating member countries. The inaugural G20 summit was held in Berlin in 1999, and since then, these meetings have become the primary platform for leaders to engage in high-level discussions and make decisions. The host nation holds the G20 presidency for that year and plays a crucial role in shaping the agenda and setting priorities.

Achievements and Impact

Over the years, the G20 has achieved several significant milestones:

• Global Financial Stability:  The G20 played a pivotal role in stabilizing the global economy in the aftermath of the 2008 financial crisis. Member countries coordinated efforts to prevent a worldwide economic collapse and implemented reforms to strengthen financial regulations.
• Economic Growth and Job Creation:  G20 nations have consistently worked on strategies to promote sustainable economic growth and job creation, with a focus on reducing inequality and poverty.
• Climate Change:  While primarily an economic forum, the G20 has increasingly addressed environmental concerns, including climate change. The Paris Agreement on climate change, adopted in 2015, was a major achievement of G20 collaboration.
• Global Health:  The G20 played a crucial role in coordinating international responses to health crises, such as the COVID-19 pandemic, by ensuring the equitable distribution of vaccines and supporting the global recovery.
• Trade and Investment:  The G20 has advocated for open and fair trade practices, supporting a rules-based international trading system through its discussions and commitments.

In conclusion, the G20, or the Group of Twenty, is a vital forum for global economic cooperation and policy coordination. Comprising 19 individual countries and the European Union, the G20’s purpose is to address global economic challenges, promote sustainable growth, and foster collaboration among major economies. While it lacks a permanent headquarters, its annual summits serve as crucial platforms for leaders to engage in high-level discussions and make decisions that impact the world economy. Through its achievements and collective actions, the G20 continues to play a significant role in shaping the future of the global economy and addressing pressing global issues.

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Great responsibility: On India’s G20 presidency

During g-20 presidency, india must etch its global dreams on domestic landscape .

Updated - December 03, 2022 11:36 am IST

The Government launched its year of the G-20 presidency on December 1 with some pomp, and 100 monuments from Kashmir to Kanyakumari lit up with India’s G-20 logo symbolising the motto “Vasudhaiva Kutumbakam, or “one earth, one family, one future”. In an editorial essay, Prime Minister Narendra Modi committed to making India’s year of chairmanship as one that will focus on “healing our ‘One Earth’, creating harmony within our ‘One Family’ and giving hope for our ‘One Future’”. There are plans for about 200 G-20 meetings across India. The preparatory and ministerial meetings will culminate in grand plans for a G-20 Summit, which will bring leaders of the ‘P-5’ countries and others to New Delhi next September. India has taken the baton from Indonesia, which had a difficult time in even scheduling meetings and ensuring full participation due to differences over the Ukraine war. There was even uncertainty till the end over whether all major leaders would attend; whether they would agree to a joint photo-opportunity (they did not), and whether there would be a joint statement — which was eventually forged. Like Indonesian President Joko Widodo, Mr. Modi will have to travel abroad to ensure that all G-20 leaders and invitees attend at the highest level. And officials will have to burn more midnight oil to achieve consensus on statements.

Symbolism and logistical coordination aside, the Government has a tough task ahead in conducting substantive negotiations to bring together a comprehensive G-20 agenda, where officials said they would focus on counter-terrorism, supply chain disruptions and global unity. In 2008, the first G-20 summit-level meeting in the U.S. was during a moment of crisis for the world’s financial systems. In 2022, the task for Mr. Modi and his team is equally crucial, given the lasting effects of the Russian war in Ukraine, western sanctions on energy that will deepen this month, economic downturns, pandemic worries and climate change issues that are testing the foundations of globalisation and an interconnected global economy. In his editorial, Mr. Modi said India would forge its G-20 agenda through its tradition of “collective decision-making” that, like India’s national consensus, would be made “... by blending millions of free voices into one harmonious melody”. At a time India itself faces economic distress and social and communal tensions, the Government should be prepared for more scrutiny on upholding such ideals. Having raised the pitch on India’s global prominence as G-20 President, and its power to shape the global narrative, the Government may find that with great power comes great responsibility, and a greater spotlight on its ability to translate its global dreams into the domestic landscape as well.

To read this editorial in Tamil, click here.

Published - December 03, 2022 12:20 am IST

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Essay on G20 Summit- The G20 Summit is an annual gathering of leaders from the world’s largest economies and the European Union. It serves as a critical forum for international economic cooperation and development. Established in 1999, the G20 Summit plays a significant role in shaping the global economic landscape and addressing pressing global challenges. This essay will explore the origins and evolution of the G20, its organizational structure, the importance of the summit, India’s G20 Summit presidency in 2023, and the key discussions and outcomes of the G20 New Delhi Summit.

Origins and Evolution of the G20

The G20 was created in response to the financial crises that emerged in several emerging economies in the 1990s. It aimed to provide a platform for Finance Ministers and Central Bank Governors to discuss global economic and financial issues. In December 1999, the first informal dialogue took place in Berlin, Germany, with representatives from advanced and emerging economies. Since then, Finance Ministers and Central Bank Governors have met annually.

Organizational Structure of the G20

Unlike other international organizations, the G20 operates without a permanent secretariat or staff. The chairmanship of the G20 rotates annually among its members. The chair, along with the past and future chairs, forms the Troika, which manages the G20’s affairs. The preparatory process for the G20 Summit is conducted through the Sherpa and Finance tracks. The Sherpa track focuses on non-economic and financial issues, while the Finance track addresses economic and financial matters. Expert working groups support both tracks in their technical and substantive work.

Importance of the G20 Summit

The G20 Summit holds immense importance as it brings together countries that represent approximately 85% of global GDP, 80% of global trade, and two-thirds of the world’s population. It serves as a platform for leaders to exchange ideas, deliberate on policy solutions, and coordinate efforts to address global challenges. The G20 Summit has played a crucial role in responding to major crises such as the 2008 global financial crisis and coordinating the global response to the COVID-19 pandemic.

India’s G20 Summit Presidency 2023

India assumes the G20 Summit presidency in 2023, reflecting its growing economic prowess and global influence. As the host of the G20 Summit, India aims to advocate for its economic interests and contribute to resolving critical global challenges. India’s G20 leadership provides an opportunity to showcase its expertise in areas such as women empowerment, democracy, and digital technologies. As a country with core democratic values, India can demonstrate that conflicts can be resolved when democracy becomes a culture.

India’s foreign policy focuses on the “global common good.” Through its G20 leadership, India aims to find sustainable solutions to key global challenges, including climate change, emerging technologies, food and energy security. India’s G20 presidency also presents an opportunity to address long-standing anomalies that disadvantage developing countries, especially in the areas of agriculture and food subsidies.

G20 New Delhi Summit: Discussions and Outcomes

The G20 New Delhi Summit, held on September 9 and 10, 2023, focused on the theme “One Earth, One Family, One Future.” The summit addressed various important issues, including food security, climate and energy, development, health, and digitalization. The discussions aimed to find collaborative solutions to these challenges and promote global economic stability and sustainable growth.

In Session 1, titled “One Earth,” participants discussed the world economy, food security, climate and energy, and the environment. The importance of observing the United Nations Charter and achieving a just and lasting peace in Ukraine was emphasized, given Russia’s aggression. Prime Minister Kishida highlighted the need for cooperation among countries to address global crises and reaffirmed the significance of the G7 Hiroshima Summit’s outcomes being integrated into the G20.

In Session 2, titled “One Family,” inclusive growth, the Sustainable Development Goals (SDGs), and health were discussed. G20 members stressed the importance of reducing poverty and inequality, accelerating efforts towards achieving the SDGs, and preparing for pandemics.

In Session 3, titled “One Future,” leaders discussed multilateral reforms, digitalization, and other issues. Prime Minister Kishida reiterated Japan’s support for the African Union’s membership in the G20, acknowledging the increasing roles of African countries in the international community. He highlighted the necessity of multilateral system reforms to overcome global challenges and shape a better future.

The G20 New Delhi Leaders’ Declaration, issued as a summary of the discussions, highlighted the commitments and actions agreed upon by the participating countries. Prime Minister Kishida engaged in brief talks with leaders from over 29 countries, fostering dialogue and strengthening international cooperation.

The G20 Summit plays a vital role in shaping the global economy and addressing pressing global challenges. As India assumes the G20 Summit presidency in 2023, it has the opportunity to advocate for its economic interests and contribute to finding sustainable solutions to key global issues. The discussions and outcomes of the G20 New Delhi Summit reflect the commitment of participating countries to collaborate and take collective action for global economic stability, inclusive growth, and the well-being of all nations. By working together, the G20 members can shape a better future for the world economy and foster international cooperation on a scale commensurate with their collective influence.

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EDITORIAL ANALYSIS : India’s G20 Presidency

Source: Indian Express, The Hindu

• Prelims: Current events of international importance, G20, Global south, Inflation etc.
• Mains GS Paper II & III: Significance of G20 countries, Bilateral, regional and global grouping and agreements involving India or affecting India’s interests.

ARTICLE HIGHLIGHTS

• The Prime Minister said that India looks forward to a Presidency of healing, harmony and hope.
• Charles Dickens novel-A Tale of Two Cities : “It was the best of times, it was the worst of times… it was the spring of hope, it was the winter of despair.”

INSIGHTS ON THE ISSUE

• The G20 is an informal group : 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.
• The G20 Presidency rotates annually: according to a system that ensures a regional balance over time.
• The presidency rotates between each group.
• India is in Group 2 which also has Russia, South Africa, and Turkey.
• The G20 does not have a permanent secretariat or Headquarters.

What are the current issues?

• Covid-19 pandemics: It has impacted most of the national economies
• Developing countries: are facing an extended, multi-faceted shock of great magnitude.
• Stalled negative economic growth
• Financial and liquidity crunch
• External debt crisis
• Increased poverty
• Worsening of social indicators and inequality.
• The UN says : the world is off track on the Sustainable Development Goals (SDGs).
• Digital divides between the developed and developing nations and within countries, regions and genders have widened.
• Climate-change disasters and conflicts
• The Taliban takeover of Afghanistan
• Ukraine-Russia war
• Food, fuel and fertilizer crisis
• Inflation-recession.
• Terrorism persists : the zero-tolerance stance and counterterrorism focus of the international community seems diluted.
• China : Continued Chinese muscle-flexing
• Rise of Covid crisis in China again.
• North-south divisions within the G20

Thematic priorities of India’s G20 presidency:

• Technological transformation and digital public infrastructure
• Accelerating progress on SDGs
• Lifestyle for environment (LiFE), green development and climate finance
• Accelerated , inclusive and resilient growth
• Women-led development and multilateral institutions for the 21st century
• Finding solutions for the “3 Fs: food, fuel and fertilizer-related crisis.

What steps India can take?

• Previous summits: India can build on the decisions and mechanisms of previous summits.
• Mobilizing global solidarity for solutions to pressing problems of humanity.
• India’s multi-alignment can be leveraged to bridge systemic and ideological differences and spark a “mindset change”.
• India can drive consensus on key reforms of the UN, World Bank, IMF etc.

How can G20 help to furnish these objectives?

• G20 could adopt actionable norms and policies
• Grow data and knowledge hubs and best practices
• Launch mechanisms for financing and implementation
• Advocacy campaigns
• Impactful programmes on the ground — individually, collectively and for the benefit of the Global South.

Way Forward

• The ability to come together and agree on key reforms and means of implementation in the economic, financial and political order could make the difference between the world hurtling into calamity or making exponential progress towards peace, prosperity and environmental sustainability.
• India is seen as a bright spot in the global economic horizon. It can play a “lighthouse role” by regionalisation and globalising its achievements.
• India can offer proven solutions and be a transformer of the Global South: From social justice projects, digital transformation, climate and environmental activism to pandemic and disaster relief etc
• PM’s LiFE initiative: global high-level principles and the creation of an ecosystem of government and businesses covering demand, supply, policy signals and economic framework could be envisaged.
• Assessing and securing low-cost funding(public and private) for the future trajectory of climate-friendly/green development and clean energy technologies could be game changing.
• India’s robust, inclusive and interoperable digital public infrastructure model, which has driven inclusion across finance, health and education, would be of immense value if it were replicated in the Global South.
• PM seeks to drive a veritable “Jan Andolan: A people’s movement based on being “One India” as much as “One Earth, One Family, One Future”.
• Voice of the Global South Summit’ under the theme – ‘Unity of Voice, Unity of Purpose: It essentially envisages bringing together countries of the global south and share their perspectives and priorities on a common platform across a whole range of issues,”

QUESTION FOR PRACTICE

Q. The long sustained image of India as a leader of the oppressed and marginalized nations has disappeared on account of its new found role in the emerging global order.’ Elaborate(UPSC 2019) (200 WORDS, 10 MARKS)

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ESSAY ON G20 Summit 2023 for Competitive Exams | Essay on G20

Essay on g20 | g20 essay | g20 essay in english.

Currently India is holding Presidency of G20 , therefore essay on G20 has become most important essay topics for all competitive exams like, UPSC, State PSC, SBI PO, IBPS PO, SIDBI, NABARD, SEBI and other banking exams descriptive papers. Here we have written an essay on G20 which will be helpful for your essay writing preparation. Lets see essay on G20 .

Essay on G20 Summit 2023

G20 Summit is an annual international gathering of leaders from the world's largest economies, representing both developed and developing nations. The summit aims to address global economic challenges, promote financial stability, and facilitate international cooperation on a wide range of issues, including trade, finance, climate change, and global health.

G20 Summit 2023 India

Presently India is holding Presidency of the G20 which is an intergovernmental forum comprising 19 countries and the European Union. The 2023 G20 summit New Delhi India is eighteenth meeting of G20 (Group of Twenty) which is being held between 9 - 10 September 2023 in Bharat Mandapam International Exhibition Convention Centre, Pragati Maidan, New Delhi.

" Vasudhaiva Kutumbakam " or "One Earth, One Family, One Future" is the theme of India's G20 Presidency which official journey was started from 1 December 2022 when India assume the G20 Presidency. G20 Summit 2023 is the first G20 summit held in India as well as in South Asia.  Download PDF of this essay:  Click Here .

What is G20?

The Group of Twenty (G20) is premier intergovernmental forum comprising 19 countries and the European Union aiming for international economic cooperation. This premier forum plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. The G20 members represent around 85% of the global GDP, more than 75% of the global trade, and approx two-thirds of the world population. Download PDF of this essay: Click Here

Members of G20

Members of The Group of Twenty (G20) are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom & United States and the European Union. 

Works of G20

G20 focuses to address major issues related to the global economy such as international financial stability, climate change mitigation and sustainable development. The G20 Summit held annually under the leadership of a rotating Presidency which steers the G20 agenda for one year and hosts the Summit.

Brief History of G20

The G20 was founded in the year 1999 with the aim to address several world economic crises. Since 2008, it has convened at least once a year under the leadership of a rotating Presidency involving each member’s head of Government or State, Finance Minister or Foreign Minister or other high ranking official. At its 2009 London Summit, G20 declared itself primary venue for international economic and financial cooperation. Presently India is holding presidency of G20.

Earlier G20 Summit 2022 was the seventeenth meeting of Group of Twenty, which was held in Nusa Dua, Bali, Indonesia on 15–16 November 2022. The next G20 Summit is scheduled to be held in Rio de Janeiro Brazil in 2024 which is the upcoming nineteenth meeting of Group of Twenty (G20).

G20 Summit 2023 India is significant event for the country. India's role as the host would provide an opportunity to showcase its economic and geopolitical importance on the world stage. It offer a platform for India to engage with other major economies to discuss and collaborate on critical global issues. The agenda of the G20 Summit typically covers a broad spectrum of topics, reflecting the interconnected nature of the global economy and the need for coordinated action among nations. These discussions can have far-reaching implications for international policies and cooperation.

Hope you liked this essay on G20 and it helped you in your exam preparation. This essay on g20 is most important for all competitive exams.

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G20 Essay Competition

Selection criteria, points to remember, gratification, terms & conditions.

• To invite students to share their ideas and visions for India’s G20 Presidency
• To create awareness and enhance knowledge about India’s G20 Presidency
• To increase understanding about India’s G20 Presidency
• To encourage young Indians to relate to different parameters of G20.
• Originality of thought and depth of knowledge
• Quality of Content, Relevance to the topic.
• Structure, articulation and writing style
• The competition is open to only Indian Citizens.
• The Essay can be submitted in either Hindi or English languages in the following categories/ age groups:

• The length of the Essay must not exceed 1500 words.
• The Essay must be typed in an A-4 size MS word document using Arial font for English and Mangal font for Hindi, having size 12 with 1.5” spacing and should be submitted in the form of PDF.
• The participants must be the same person who has written the essay. The Essay should reflect original thinking and presentation.

• The Competition is open to only Indian Citizens.
• Category: 12 - 14 years of age
• Category: 14 -16 years of age
• All entries must be submitted through the MyGov.in portal only. Entries submitted through any other medium/mode will not be considered for evaluation.
• A participant can submit only once. In case it is found that any participant has submitted more than one entry, all his/her entries will be considered as invalid.
• The entry should be original. Copied entries or plagiarized entries will not be considered under the contest. Winning entries will also be suitably publicized by the G20 Secretariat/ Ministry of External Affairs.
• There are no charges/registration fee for participation in the competition.
• The Essay must be typed in an A-4 size MS word document using Arial font for English and Mangal font for Hindi, having size 12 with 1.5” spacing. The essay must be uploaded in the PDF format.
•  Please note that the Essay must be original and should not violate any provision of the Indian Copyright Act 1957. Anyone found infringing on others’ copyright would be disqualified from the competition. G20 Secretariat/Ministry of External Affairs does not bear any responsibility for copyright violations or infringements of intellectual property carried out by the participants.
•  Mention of the Author’s name /email etc., anywhere in the body of the essay will lead to disqualification.
•  G20 Secretariat/Ministry of External Affairs reserves the right to verify original documents such as proof of age etc., before awarding the prizes.
•  Participant is to make sure that their MyGov profile is accurate and updated since G20 Secretariat/Ministry of External Affairs would be using this for further communication. This includes details such as name, photo, complete postal address, email ID and phone number. Entries with incomplete profiles would not be considered.
•  The G20 Secretariat/Ministry of External Affairs reserve all the rights and any dispute, amendments or any issue related to this competition / guidelines / evaluation criteria etc., shall be decided by the G20 Secretariat/ Ministry of External Affairs which will be final and binding.
•  G20 Secretariat/Ministry of External Affairs reserves the right to cancel or amend all or any part of the competition/guidelines/evaluation criteria etc., at any time. 
•  Any changes to the Terms and Conditions/ Technical Parameters/ Evaluation Criteria, or cancellation of the Contest, will be updated / posted on the MyGov platform. It would be the responsibility of the participants to keep themselves informed of any changes in the Term & Conditions/ Technical Parameters/ Evaluation Criteria stated for this Contest.
•  If any entry is found to violate the guidelines, it will be removed from the evaluation process without giving any intimation or explanation to the participant.
•  For Verification purposes original documents may be asked by G20 Secretariat/ MEA at any given point of time during the Competition process.
•  G20 Secretariat/Ministry of External Affairs shall have an exclusive, royalty-free, perpetual and irrevocable license to copy, store, edit, distribute, transmit and publish competition entries.
•  Decision of the Evaluation Committee will be final and binding on all participants.
•  Non- conformity to guidelines will lead to disqualification of the participants.

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G20 - India' Presidency

India assumed the presidency of the G20 grouping from Indonesia, on December 1, 2022, and held the post for a year. This gave India a unique opportunity to contribute to the global agenda on pressing issues of international importance. India’s presidency of the G20 ended in Dec 2023. Brazil took over the presidency from India and will hold the 2024 G20 summit at Rio de Janeiro in December.

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Recently G20 summits started focusing not only on macro economy and trade; but also on a wide range of global issues which have an immense impact on the global economy since globalization started progressing and various issues became more intricately intertwined. Those issues included overall development, climate change and energy, health, counter-terrorism, as well as migration and refugees.

The G20 has sought to realize an inclusive and sustainable world through its contributions towards resolving these global issues.

This is an important topic for the UPSC 2024 exam .

G20 India Presidency

India’s G20 logo juxtaposes planet Earth with the lotus, India’s national flower and the theme is ‘Vasudhaiva Kutumbakam’ or ‘One Earth-One Family-One Future’

• The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue.
• The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature.
• The theme also spotlights LiFE ( Lifestyle for Environment ), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.
• For India, the G20 Presidency also marks the beginning of “Amrit Kaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.

Image Source: pmindia.gov

Significance of India’s G20 Presidency : 

• G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
• The G20 Leaders’ Summit at the level of Heads of State/Government is scheduled to be held on September 9 and 10, 2023 in New Delhi.
• According to Prime Minister Modi, this term can be an opportunity for India to share its expertise with the world in areas of women empowerment, democracy and digital technologies.
• As a country with core democratic values, India can show the world that the scope of conflict can come to an end when democracy becomes a culture. This gains significance amidst the ongoing Russia-Ukraine conflict .
• India’s foreign policy is focusing on the ‘global common good’. Through its G20 leadership, India hopes to extend this principle towards finding sustainable solutions to some of the key global challenges emerging out of the interconnectedness of the world, such as climate change, new and emerging technologies, food and energy security, etc.
• This would be the first time when the Troika would consist of three developing countries and emerging economies.
• It is hoped that as a result there would be a shift in the balance of power within the G20 favouring emerging economies to have a greater share in decision-making at this grouping.
• The G-20 Presidency presents a great opportunity for India to correct the long-standing anomalies that go against developing countries, especially in the domain of agriculture and food subsidies.

Read more on India’s G20 Presidency in the Sansad TV Perspective discussion .

G20 Summit 2022 – Indonesian Presidency

The G20 summit, the group’s first post-pandemic summit, recently took place in Bali, Indonesia , in the backdrop of the Russia-Ukraine crisis and a missile attack on Poland. The article gives a brief overview of the G20, highlights of the Bali summit and the significance of India’s G20 presidency.

Key Takeaways From G20 Summit 2022

• Leaders also reaffirmed their ongoing commitment to fostering a robust and long-lasting recovery that advances and maintains universal health care.
• They hailed the World Bank’s creation of the “Pandemic Fund,” a new financial intermediary fund for pandemic prevention, preparedness, and response.
• The World Health Organization (WHO), with assistance from other international organisations, has reaffirmed the commitment of world leaders to strengthen global health governance.
• Digital Transformation & Digital Literacy
• Leaders have acknowledged the significance of digital transformation in achieving sustainable development goals.
• They pushed for further global cooperation to boost digital literacy and skills in order to maximise the benefits of the digital transformation, particularly for women, girls and those who are vulnerable.
• Climate Change: G20 leaders decided to continue their efforts to keep the rise in global temperature to 1.5 degrees Celsius, reaffirming their commitment to the temperature goal in Paris 2015 agreement on climate change.
• Food Security: The leaders praised the Black Sea grains project and pledged to take coordinated action to solve problems concerning food security.
• Focus on the Global Economy: In a departure from last year’s focus on healing the wounds left by the Covid-19 outbreak, the G20 economies agreed in their declaration to pace interest rate rises cautiously to avoid spillovers and warned of “increasing volatility” in currency fluctuations.
• Member nations issued a statement condemning Russia’s aggression in Ukraine “in the strongest terms” and calling for an immediate and complete withdrawal. 
• They also acknowledged that although the majority of members had expressed their opposition to the war in Ukraine, “there were different opinions and differing assessments of the situation and sanctions.”
• A summit of this size will be held for the first time in the nation in New Delhi on September 9 and 10, 2023.
• According to the Indian Prime Minister, India’s G20 chairmanship theme of “One Earth, One Family, One Future” will be reflected in its inclusive, ambitious, definite, and action-oriented presidency.

Challenges For G20 Countries

• Rising Geopolitical Rifts: The global economy is having trouble coping with rising geopolitical rifts like the conflict between the world’s two largest economies, the US and China, or the drop in trade between the UK and the euro area following the Brexit vote.
• Slow Down Of Major Economies: China, one of the main drivers of global economy, is currently experiencing a severe slowdown as a result of its ongoing real estate crisis.
• Expected Recession: While some of the world’s largest economies, including the US and the UK, are expected to experience a recession, others, like countries in the euro area, are more likely to experience a slowdown or even a standstill.
• Persistent High Inflation: Consistently rising inflation, which is reaching historic highs in a number of countries, has reduced purchasing power globally, slowing down economic growth.
• Impact of Russia’s Invasion of Ukraine: In addition to greatly increasing geopolitical ambiguity, Russia’s invasion of Ukraine has also significantly increased worldwide inflation. The associated Western sanctions have made the situation worse. Read in detail about the Russia-Ukraine Conflict in the linked article.
• Impact of Rising Inflation: Central banks around the world have hiked interest rates in response to the high inflation, which has further slowed down economic activity .

Indian Presidency in 2023

The G20 Presidency for 2023 will pass to India. India will take over the G20 Presidency on December 1st, 2022. 

• India will host nearly 200 meetings in 32 different sectors at various places all over the nation while it holds the G20 presidency. 
• G20 Theme : “Vasudhaiva Kutumba-Kam,” or “One Earth, One Family, One Future,” is the focus of India’s G20 Presidency.
• India will work to ensure that there is “just one world,” not a “first world or third world.”
• The G20 Theme embodies India’s efforts to realise its vision of uniting the entire world in pursuit of a common goal and a better future.

The importance of India holding the 2023 Summit is given below:

• India’s G20 Presidency is a special opportunity for India to contribute to the global agenda on urgent issues of global significance.
• The first step toward a new world order for the post-Covid age was to build an international agreement on reforming multilateral organisations like the UN.
• It is an opportunity to take on the role of Global South leader.
• The increasing importance of G20 in a world where issues like global warming, the COVID-19 pandemic and the conflict in Ukraine are pressing issues.

The purpose of establishing G20 is to create an atmosphere that supports equitable global growth and development. They bring together the most powerful economies in the world, both developed and emerging, to talk about global financial and economic stability. However, the way forward to tackle the present situation is:

• Governments must find measures to assist the vulnerable without necessarily increasing debt levels. The need to closely monitor external risks would be a major issue in this regard.
• The G20 leaders must advocate for “more open, stable, and transparent rules-based commerce” in order to alleviate the world’s supply shortages.
• Increasing the global value chains’ resilience would assist safeguard against upcoming shocks.
• Keeping the blazing inflation under control is the G-20’s top priority.
• A strong, sustained, balanced, and inclusive recovery necessitates G-20 cooperation, and this cooperation necessitates not only maintaining peace in Ukraine but also “helping prevent future division”.

The topic has a very high chance of being asked as a UPSC Prelims International Relations Question or as a Current Affairs Question as it has been in the news recently.

G20 Summit 2021 – Italian Presidency

The Italian Presidency – Italy held the Presidency of the G20 Summit 2021 since December 1st 2020. The Summit was held in Rome on October 30th and 31st 2021. 

The last G20 Summit was held on 21 and 22 November 2020 virtually (due to COVID -19 pandemic) under the presidency of Saudi Arabia. India in the g20 summit called for a ‘New Global Index’ that will be based on the following our pillars; Technology, Talent, Transparency, and Trusteeship towards the planet.

The agenda of the Italian Presidency (G20 Summit 2021) rests upon three main pillars: People, Planet, Prosperity. 

• Eradicating poverty, as mandated by the first Sustainable Development Goal (SDG) of the United Nations . Read more on Sustainable Development Goals on the linked page.
• Tackling inequality, which has been rising over the past decades and even more during COVID times.
• Building a more inclusive global society that means protecting the most vulnerable such as young people, precarious workers, small and medium enterprises; promoting women’s empowerment; ensuring universal access to education; redistributing opportunities within countries, and decreasing disparities between regions.

Aspirants can go through the following links for detailed information –

• A firm commitment to address key issues such as climate change, land degradation, biodiversity loss and the achievement of the Sustainable Development Goals enshrined in Agenda 2030.
• A transition towards renewable energies and a green recovery, with a focus on modern, “smart” cities, is essential and is among the main priorities promoted by the Italian Presidency.
• The G20 will also pave the way towards the 26th Conference of the Parties of the UNFCCC (COP26), a key milestone in the global fight against climate change, which will be co-hosted by Italy and the United Kingdom. Read in detail on the United Nations Framework Convention on Climate Change – UNFCCC on the linked page.

Check out the following links for further details –

• reducing the digital divide, promoting infrastructural developments able to guarantee universal internet access, and achieving adequate and widespread digital literacy. Read about the Digital Divide in India on the linked page.
• exploiting the full potential of the technological revolution to concretely improve the living conditions of citizens all over the world
• making health services more effective; facilitate data sharing to strengthen global pandemic preparedness and response, enhance the reach of educational activities, agile and flexible working models, a better work-life balance for both men and women; improve the efficiency of energy distribution networks, etc.

Read the information provided on the following links to prepare even better –

History of G20

When the Asian Financial Crisis of 1997-1998 ended, it was acknowledged that the participation of major emerging market countries was necessary for a discussion on the international financial system. Hence, the G7 Finance ministers agree to establish the G20 Finance Ministers and Central Bank Governors meeting in 1999.

The meeting of G20 Finance ministers and the Central Bank Governors was centred on major economic and monetary policy issues amongst major countries in the global financial system. Their aim was to promote cooperation towards achieving stable and sustainable global economic growth for the benefit of all countries.

They upgraded to the head of the state level, as a forum for leaders from major developed and emerging market countries. In September 2009, the third summit was held in Pittsburgh where the leaders designated the G20 as the “premier forum for international economic cooperation.” The summit meetings were, henceforth held semiannually until 2010 and annually from 2011 onwards.

What is G20+?

The G20 developing nations, also called G21/G23/G20+ is a bloc of developing nations which was established on August 20, 2003. It is distinct from the G20 major economies.

• The G20+ originated in September 2003 at the 5th ministerial conference of the WTO held at Cancun, Mexico.
• Its origins can be traced to the Brasilia Declaration signed by the foreign ministers of India, Brazil and South Africa on 6th June 2003.
• The declaration stated that the major economies were still practising protectionist policies especially in sectors they were less competitive in and that it was important to see to it that the trade negotiations that took place provided for the reversal of those policies.
• The G20+ is responsible for 60% of the world population, 26% of the world’s agricultural exports and 70% of its farmers.

What did India do in the G20 2019 Summit?

Upcoming G20 summits

Also, Read| India’s relations with France and its significance for UPSC Exam

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FAQ about G20

What is the purpose of g20, what are g20 countries, what distinguishes the g7 from the g20, where did the 17th g20 summit take place.

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