Countdown Begins - Under India’s Presidency of G20, MEA says 200 meetings planned across the country | The Financial Express

Countdown Begins – Under India’s Presidency of G20, MEA says 200 meetings planned across the country

Currently India is part of the G-20 Troika which includes the current, previous and future Presidencies – this means: currently Indonesia is holding the presidency, previously it was Italy and soon India will take over.

Countdown Begins – Under India’s Presidency of G20, MEA says 200 meetings planned across the country
The G20 is an intergovernmental forum of the world's major developed and developing economies. (File image)

Upon assuming a one-year presidency of G20 later this year, India will host a two-day summit in New Delhi next September 9-10, 2023.  At the G-20 Leaders’ Summit Heads of State/Government will arrive in New Delhi and the preparations have already started.

At the end of the G-20 summit in Indonesia later this year, the presidency of the grouping will be handed over to India which will hold this from December 1, 2022 to November 30, 2023. During its presidency, India is expected to hold almost 200 meetings at different locations in the country from December 1, 2022.

Following the tradition of G20 of inviting some guest countries and international organisations to its meetings and summit, India will invite countries including UAE, Egypt, Singapore, Spain, Bangladesh, Oman, Nigeria, Mauritius, and Netherlands, as Guest countries.  And, as Guest International Organizations (IOs), India will be inviting International Solar Alliance, Coalition for Disaster Resilient Infrastructure and Asian Development Bank.

These will be in addition to regular International Organisations like the IMF, UN, WHO, ILO, OECD, World Bank, WTO, and FSB and also Chairs of Regional Organizations – ASEAN, AU, and AUDA-NEPAD.

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Member States of G-20

World’s major developed and growing economies form the Group of Twenty or better known as G-20.

Countries including: India, Indonesia, Argentina, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, USA) and the European Union (EU),  Australia, Brazil, Canada, China, France, Germany, and Indonesia, together form this group. And together they account for 85 percent of global GDP, 75 percent of international trade. With two-thirds of the world population, the grouping is a forum for international economic cooperation.

India & G-20

Currently India is part of the G-20 Troika which includes the current, previous and future Presidencies – this means: currently Indonesia is holding the presidency, previously it was Italy and soon India will take over.

After India’s presidency is over Brazil will take over and then the Troika will be formed of India, Indonesia and Brazil.

What does this mean?

According to the Ministry of External Affairs official statement, this will be the first time three developing countries and emerging economies will form the Troika, thus providing them a greater voice.

Also Read: G20 Summit 2023 in Kashmir? ‘Any objection By China, Pakistan needs to be strongly contested’

Working of G-20

Ministry of External Affairs says there is:

Finance Track: In which there are 8 workstreams which includes (Global Macroeconomic Policies, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms, Infrastructure Financing, and International Financial Architecture).

Sherpa Track: There are 12workstreams including: (Energy Transition, Health, Trade and Investment, Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, and Tourism).

Also, the G20 has 10 Engagement Groups of civil society/ private sector, independent bodies (Supreme Audit Institutions 20, Think 20, Urban 20, Women 20, Business 20, Civil 20, Labour 20, Parliament 20, Science 20, and Youth 20).

While the priorities of G20 are in the process of being firmed up, according to the official statement of Ministry of External Affairs states that the ongoing conversations revolve around: “Inclusive, equitable and sustainable growth; energy security; green hydrogen; disaster risk reduction and resilience; developmental cooperation; fight against economic crime; agriculture and education to commerce, skill-mapping, culture and tourism; climate financing; circular economy; global food security; digital public infrastructure and tech-enabled development in areas ranging from health; LiFE (Lifestyle For Environment); women’s empowerment; and multilateral reforms.”

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