The G20 (Group of Twenty) is an international forum that brings together the world's top 20 economies to discuss global economic issues. The group was formed in 1999 as a response to the Asian financial crisis and the need for emerging economies to be included in global economic decision-making. The G20 countries account for 85% of global economic output, 75% of global trade, and two-thirds of the world's population.
The G20 is a successor to the G7 (Group of Seven), which was formed in the 1970s by the world's top seven economies to address economic issues. The G7 countries were the USA, UK, France, West Germany, Italy, Japan, and Canada. Russia was added to the group in 1998, making it the G8, but was expelled in 2014 after its invasion of Crimea.
The G20 has a rotating presidency, with each member country taking turns hosting the summit. The current Troika countries are Indonesia, India, and Brazil. The G20 summit is attended by heads of state and government, and the group has expanded its agenda to include issues such as climate change, sustainable development, and digital public infrastructure.
However, reaching consensus on these issues can be challenging due to the diverse interests and priorities of the member countries. The G20 also has various engagement groups, including B20 (business groups), C20 (civil society), W20 (women), Y20 (youth), and T20 (think tanks).
India is set to host the G20 summit in 2023, with the theme of "Vasudev Kutumbakam" (One Earth, One Family, One Future). The summit will be attended by leaders from the G20 countries, as well as guest countries and international organizations.
Here are the key facts from the text:
1. India is hosting the G20 summit in 2023.
2. The main summit will be held on September 9th and 10th in New Delhi's Pragati Maidan.
3. The G20 summit will be attended by the heads of states of the world, including presidents and prime ministers.
4. The G20 group was established on September 26, 1999.
5. The G20 group consists of 20 countries, including the G7 countries, and represents around 85% of global economic output.
6. The G20 countries also include China, India, Brazil, South Africa, and Russia, among others.
7. The G20 summit is held annually, with each member country taking turns hosting the event.
8. The Troika System is used to set the agenda and ensure the smooth functioning of G20 meetings, with three countries working together: the current G20 President, the G20 President of the previous year, and the G20 President of the upcoming year.
9. The G20 summit has been held every year since 2008, with the first summit being held in the US.
10. The G20 countries contribute more than 75% of global trade and are home to more than 2/3 of the world's population.
11. The G20 summit has expanded its agenda to include issues such as climate change, sustainable development, and women-led development.
12. The main G20 Summit lasts only 2 days, but there are many other summits and meetings that take place throughout the year, including minister-level summits and engagement groups.
13. India has set the theme of 'Vasudev Kutumbakam' for the 2023 G20 summit, with a focus on Green Development and Sustainable Development Goals.
14. The G20 summit has a permanent guest list, including institutions such as the African Union, United Nations, WHO, WTO, IMF, and the chair countries of ASEAN.
15. Spain has a permanent invitation to G20 summits.
16. The host country can also invite other countries, with India inviting 9 additional countries to the 2023 summit.
17. The G20 summit has a Sherpa meeting, where personal representatives of each G20 leader meet to discuss issues before the main meeting.
18. The G20 summit has been held in different locations around the world, with the 2024 summit scheduled to take place in Brazil and the 2025 summit scheduled to take place in South Africa.
19. The G7 group was formed before the G20 group, with the first G6 meeting taking place in 1975.
20. The G7 group consists of 7 countries: the US, France, the UK, West Germany, Italy, Japan, and Canada.
21. Russia was included in the G7 group in 1998 but was expelled in 2014 after invading Crimea.