Stage is set for India to assume 17th G20 presidency next week. Prime Minister Narendra Modi will be heading to attend the G20 summit in Bali, Indonesia and there the presidency of the grouping will be handed over to India.
Ahead of the G20 summit in Bali, Indonesia, the G20 logo, theme (One Earth-One Family-One Future) was unveiled by Prime Minister Modi virtually in New Delhi.
The logo is a juxtaposition of planet Earth with India’s national flower, Lotus representing a uniquely Indian approach to our G20 Presidency. And there is a message of ‘Vasudhaiva Kutumbakam — One Earth, One Family, One Future’ on the logo.
This is the signature of India’s compassion for the world and the Lotus is a symbol of India’s cultural heritage.
The colours of the logo represent India’s national flag – saffron, white and green & blue. Earth is a reflection of India’s pro-planet approach to life, and in perfect harmony.
The Lotus flower is considered auspicious, pure and eternal. And being the logo it indicates the global challenges being faced across the globe.
“Bharat”, is inscribed below the logo as India is referred to in Sanskrit. Since the grouping brings together the developed and the developing nations together during various meetings leading up to the summit, the logo unveiled highlight’s India’s potential to build a consensus among all by suitably shaping the narrative.
The logo is the result of public participation and there was a design contest which invited submissions from all over the country. In all 2400 entries were received and five were down selected.
G20 summit in Bali
This will be the 17th summit of the G20 Heads of State and Government and is taking place in Bali, Indonesia from November 15-16. The summit will be the culmination of the G20 process and the several rounds of intense meetings of the working groups, engagement groups as well as ministerial meetings throughout the year.
What is G20?
This is the premier forum for international economic cooperation. And it represents almost 85 percent of the global GDP, about two-thirds of the world population and over 75 percent of the global trade.
India’s G20 presidency
India will hold the presidency of the grouping for one year and will hand it over to Brazil next year at the end of the summit in India between September 9-10, 2023.
Each year the presidency rotates among the member countries and the country which is holding the presidency, together with the previous and the next presidency holder form Troika. The Troika is to ensure that the G20 agenda continues. This year’s Troika is – Indonesia, Italy & India. And then Troika will be India, Indonesia and Brazil – three developing and emerging economies.
Starting later this year until the next year, Financial Express Online has reported that about 200 meetings in 32 different sectors will be held in multiple locations across the country and there will be some specific locations which will be given preference. One of the first meetings is expected to take place in Udaipur, Rajasthan, said a senior officer. Around 50-55 odd cities have been identified including top tourist destinations in an effort to showcase every aspect of the country.
Officially India will assume G20 Presidency from December 1, 2022 and it will end next year on November 30, 2023.
And soon after the first round of discussions for the G20 which has 19 countries as well as the European Union is scheduled to take place on December 5, 2023 and the `Sherpas’ of the members will meet.
Next year, at the end of the summit a “New Delhi Declaration” is expected to be released which will be signed by the member countries. Several countries including Spain, UAE, Egypt, Bangladesh, Oman, Singapore, Mauritius, Netherlands, and Nigeria will be invited as guest countries at the event.
For the next year’s summit it will all depend on what happens at the Bali Summit which will focus on three main pillars: Digital Transformation, Sustainable Energy Transition and Global Health Architecture.
According to officials Indonesia has plans to take the lead on ensuring access to Covid-19 vaccines, also in promoting inclusive and sustainable economic development, especially through the participation of MSMEs and digital economy.
The major challenge next week is going to be the ongoing Russia-Ukraine war and most of the member states have imposed sanctions on Russia. And India will inherit the friction between the industrialized nations and Russia.