In India, you must have seen ‘The Group of Twenty’ posters and billboards in any city you reside in. This is because India is hosting G20 summit this year.
The G20 is an organization of the 19 largest economies in the world and the European Union. One can estimate the influence of this group on the basis of the fact that it represents approximately 85% of the global GDP, 75% of international trade, and two-thirds of the world’s population.
So let’s learn some amazing facts related to the G20.
1. Starting of G20
The formation of the G20 took place on September 26, 1999, after the financial crisis in Asian countries.
Initially, the Group of Twenty was established as a forum where Finance Ministers and Central Bank Governors of countries would discuss global economic and financial issues.
Following the worldwide financial crisis of 2007-2008, the G20 was upgraded to the level of Heads of State/Government.
After granting the Group of Twenty greater power, it was designated as the “Premier Forum for Economic Cooperation” in 2009.
Subsequently, it was taken even more seriously, and each year, the summit started to be held under the leadership of the rotating presidency.
Initially, the main focus of this group was the economy, but later, its agenda included various other topics as well, such as anti-corruption measures, health, climate change, environment, agriculture, energy, and more.
2. G20 Agenda
The country taking up the presidency of the Group of Twenty (G20) gets the opportunity to set the agenda for this group. The agendas to be discussed in this summit are decided by three countries.
- The country that is the current year’s president (India).
- The country that was the president in the previous summit (Indonesia).
- And the country that will be the president of this summit next year (Brazil).
The main topics of the G20 summit in India will be:
- Green development, Climate Finance and LiFE
- Accelerated, Inclusive and Resilient Growth
- Accelerating Progress on SDGs
- Technology Transformation and Digital Public Infrastructure
- Multilateral Institutions for 21st Century
- Women-led Development
3. G20 Theme
Most Indians would be well aware that we consider the whole world as our family, and India has also kept the theme of this summit the same.
Vasudhaiva Kutumbakam – One Earth, One Family, One Future.
4. G20 Invited Guests
As we discussed earlier, as the hosting country of this summit, they are granted certain special powers, and one of them is the ability to invite some leaders of countries as guests to this summit. And India has invited these leaders to the summit –
| Post | Name | Country |
| Prime Minister | Sheikh Hasina | Bangladesh |
| President and Chairperson of the African Union | Azali Assoumani | Comoros |
| President and 2023 Chairperson of NEPAD | Abdel Fattah el-Sisi | Egypt |
| Prime Minister | Pravind Jugnauth | Mauritius |
| Prime Minister | Mark Rutte | Netherlands |
| Prime Minister | Lee Hsien Loong | Singapore |
| Sultan | Haitham bin Tariq | Oman |
| President | Bola Tinubu | Nigeria |
| Prime Minister | Pedro Sánchez | Spain |
| President | Mohamed bin Zayed Al Nahyan | United Arab Emirates |
5. Meetings in India
There is significant enthusiasm in India regarding this summit, and rightfully so, considering its importance.
More than 200 meetings of the G20 are going to be held in over 50 cities in India, and the first meeting of this summit took place in Udaipur, Rajasthan.
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6. Sherpa Track and Finance Track
Group of Twenty works with two tracks.
- Sherpa Track- Agriculture, Anti-corruption, Culture, Digital Economy, Disaster Risk Reduction, Development, Education, Employment, Environment and Climate Sustainability, Energy Transitions, Health, Trade and Investment and Tourism.
- Finance Track- Framework Working Group (FWG), International Financial Architecture (IFA), Infrastructure Working Group (IWG), Sustainable Finance Working Group (SFWG), Global Partnership for Financial Inclusion (GPFI), Joint Finance and Health Task Force, International Taxation agenda and Financial Sector issues.
Many people might not know about Sherpas, so let’s understand in simple language what Sherpas are.
- Sherpas are referred to as an ethnic group in Nepal, mostly residing around the Himalayas. They possess skills in climbing the Himalayan mountains and have excellent stamina.
- When foreigners come to Nepal to climb Mount Everest, they often seek the assistance of Sherpas to carry their belongings while ascending the mountains.
- The role of Sherpas is not just limited to carrying goods; they also serve as guides and mentors for those who are climbing the Himalayas.
Sherpa of G20 summit
Just as sherpas are needed for climbing the Himalayas, similarly for important summits like these, there is a need for someone to represent the country.
In the G20 summit, such an experienced and capable diplomat or bureaucrat is referred to as a Sherpa.
In this summit, Amitabh Kant is the Sherpa for India.
G20 Countries, GDP, Defence Budget, Population, Leaders
7. Controversies
Wrong map controversy
There have been few controversies related to the Indian map in the past.
- During the 2014 G20 summit, which was presided over by Australia, they displayed an incorrect map of India in the presence of Prime Minister Modi. In that incorrect map, they showed Jammu and Kashmir as part of Pakistan. After India’s foreign secretary strongly raised this issue, Australia apologized for this mistake. Source
- A similar incident occurred during the 2020 G20 summit, where Saudi Arabia released a 20 Riyal banknote as part of the summit’s celebrations. This banknote omitted the regions of Jammu and Kashmir and Ladakh from India’s map. After India raised objections, Saudi Arabia resolved the issue. Source
India’s Opposition Parties Have a Problem with the Logo
Many opposition parties in India have raised concerns about the logos of this summit. They claim that the lotus flower in the logo resembles the symbol of the current ruling party, BJP, and that BJP is using it for self-promotion.
In response, the BJP states that the lotus flower is not only their party symbol but also the national flower of India.
8. Main Event of India’s G20
The highest-level meeting of the G20, where the world’s biggest leaders will gather under one roof, will take place at the International Exhibition-cum-Convention Centre (IECC) Complex at Pragati Maidan, Delhi.
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So, these were some important things related to the upcoming mega summit in India.