Crucial in shaping and improving global governance and architecture on all significant international economic challenges, the Group of Twenty (G20) is the world's leading platform for economic cooperation. Following the Asian financial crisis of 1997–98, it was established as a meeting place for finance ministers and central bank governors to discuss global economic and financial issues in 1999. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States compose the Group of Twenty (G20), as does the European Union. The G20 countries account for around 85% of global GDP, more than 75% of the world's trade, and almost two-thirds of the worldwide demographic.
It attempts to address significant issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.
For one year, the G20 Presidency guides the G20 agenda and hosts the Summit. The G20 is divided into two tracks: the Finance Track, led by Finance Ministers and Central Bank Governors, and the Sherpa Track, led by Sherpas. The group does not have a permanent secretariat; it rotates the presidency of the G20 each year among members selected from a different regional national group.
The invitees comprise Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE. Furthermore, India will invite ISA, CDRI, and ADB as guest IOs as part of its G20 Presidency in addition to the standard international organizations such as the UN, IMF, WB, WHO, WTO, ILO, FSB, and OECD and the Chairs of Regional Organisations AU, AUDA-NEPAD, and ASEAN.
When we see the historical timeline of the G20 summits, 2008 and 2009 comprised Washington, DC, London, and Pittsburgh. 2010 and 2011 comprised Toronto, Seoul, and Cannes. 2012, 2013, and 2014 summits were in Los Cabos, St. Petersburg, and Brisbane. 2015 and 2016 were held in Antalya and Hangzhou. Hamburg in 2017, Buenos Aires in 2018, Osaka in 2019, Saudi Arabia in 2020, Italy in 2021, and Indonesia in 2022.
So, who is hosting the G20 summit in 2023?
India. This article aims to understand the summit’s theme alongside its preparations, the necessary measures taken, and what it would mean for India to host the G20 summit.
Derived from the ancient Sanskrit text Maha Upanishad, the theme for 2023's G20 summit stands as "Vasudhaiva Kutumbakam," or "One Earth, One Family, One Future." An underlying theme of global unity, sustainable, ecologically responsible alternatives, or economic disparity to climate change. During the presidency of India, the trio (previous, current, and upcoming presidents) will include Indonesia, India, and Brazil, respectively.
One India's article captured the detailed preparations that are in progress for the summit. The summit is set to take place at Bharat Mandapam’ in Pragati Maidan on September 9, 2023, in the National Capital Region, New Delhi. Some itineraries may be modified or submitted temporarily between September 7 and 11, 2023.
More than 30 hotels were selected to host these representatives for the event. Strong security measures are taking place, with 69 explosive detection dogs from the K9 police team strategically placed at critical locations in New Delhi. On September 20, 2023, Lt. Governor V. K. Saxena stated, "Security personnel are also brought in from other states, and security drills are conducted daily. All guests coming here are secured, as sourced by India.
In her detailed news report, Geeta Mohan, Foreign Affairs Editor, Editorial India Today TV, provided an in-depth analysis of the events that are scheduled to take place. Right from the start of the summit, US President Joe Biden making his arrival on September 7, and have a bilateral meeting the next day with India. Indian President Droupadi Murmu hosted 350–400 esteemed guests at Bharat Mandapam's multipurpose hall. The next day, a visit to Rajghat for a plantation drive. The summit will conclude with a session entitled "One Future," culminating in the symbolic handover of the G20 presidency to Brazil, which will assume the presidency on December 1.
Furthermore, India is importance in hosting the G20 Summit, connecting and cooperating in South-South cooperation, and promoting peace, stability, and shared prosperity in a divided world. By shaping and strengthening the global structure and managing all major international economic issues, collateral issues are streamlined and more focused on long-term strategic needs. Identify, highlight, develop, and strengthen international support for critical priorities across various economic and social sectors. It aims to empower women and fight corruption and employment, focusing on the most vulnerable and disadvantaged.
In conclusion, with the significant preparations in place and the summit taking shape in the country, what is the outcome of this event as the whole world awaits?
Edited by Whitney Edna Ibe
Share This Post On
0 comments
Leave a comment
You need to login to leave a comment. Log-in
