Brief on India’s G20 Presidency
1. What is G20: G20, or Group of Twenty, is an intergovernmental forum of the world’s major developed and developing economies. It comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, UK, USA) and the European Union (EU).
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| G20 Countries |
2. Collectively, the G20 accounts for 85% of global GDP, 75% of international trade and two-thirds of the world population, making it the premier forum for international economic cooperation. The G20 Presidency is annual and held on rotation by the member countries. The last few Presidencies of G20 have been – Turkey (2015), China (2016), Germany (2017), Argentina (2018), Japan (2019),
Saudi Arabia (2020) followed by Italy (2021), and Indonesia (2022).
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| G20 Agenda |
3. India’s G20 Presidency: India is currently part of the G20 Troika (current,
previous and incoming G20 Presidencies) comprising Indonesia, Italy and India.
India will assume the rotating Presidency of the G20 from 01 December, 2022 to 30 November, 2023. Hon’ble PM launched a logo and theme for India’s G20 Presidency on 8 November, 2022. These are as below:
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| G20 Logo |
The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue. It juxtaposes planet Earth with the lotus, India’s national flower that reflects growth amid challenges.
The theme of India’s G20 Presidency - “Vasudhaiva Kutumbakam” or “One Earth One Family One Future” - is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth.
The logo and the theme together convey a powerful message of India’s G20 Presidency, which is of striving for just and equitable growth for all in the world, as we navigate through these turbulent times, in a sustainable, holistic, responsible, and inclusive manner. They represent a uniquely Indian approach to our G20 Presidency, of living in harmony with the surrounding ecosystem.
4. Working of G20: The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track while Sherpas lead the Sherpa Track.
The G20 process from the Sherpa side is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. Finance Track is led by Finance Ministers and Central Bank Governors of the member countries. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organisations participate.
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| G20 Countries |
The Finance Track is mainly led by the Ministry of Finance. These working groups meet regularly throughout the term of each Presidency. The Sherpas oversee negotiations over the course of the year, discussing agenda items for the Summit and coordinating the substantive work of the G20.
In addition, there are Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries.
The G20 currently comprises:
(i) Finance Track, with 8 workstreams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance,
International Taxation, Financial Sector Reforms)
(ii) Sherpa Track, with 13 workstreams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and
Investment, Tourism and Disaster Risk Resilience & Reduction (proposed by India)
(iii) 11 Engagement Groups of private sector/civil society/independent bodies (Business 20, Civil 20, Labour 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20,
Youth 20 and StartUp 20 (proposed by India)
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| G20 Guest Countries |
5. Invitee IOs and Guest Countries: In addition to G20 Members, there has
been a tradition of the G20 Presidency inviting some Guest countries & International Organizations (IOs) to its G20 meetings and Summit. Accordingly, in addition to regular International Organizations (UN, IMF, World Bank, WHO, WTO, ILO, FSB and OECD) and Chairs of Regional Organizations (AU, AUDANEPAD & ASEAN), India, as G20 Presidency, will be inviting Bangladesh, Egypt,
Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as Guest countries, as well as ISA (International Solar Alliance), CDRI (Coalition for Disaster Resilient Infrastructure) & ADB (Asian Development Bank) as Guest IOs.
6. G20 Meetings: More than 200 G20 meetings will be held at locations across the country during India’s Presidency period. The G20 Summit will be held in New Delhi on 9-10 September, 2023.
