G20 Summit 2023 in India| what is G20|G20 Member countries theme & logo

The G20 (Group of Twenty) is an international forum consisting of 19 countries and the European Union (EU) that together represent the world's largest economies. The G20 members account for around 80% of global GDP, 75% of international trade, and two-thirds of the world's population.G20 Summit 2023 in India as a organizing country. 

What is G20 :

The G20 was established in 1999 as a response to the financial crises of the late 1990s, and its first summit was held in 2008 in Washington, D.C. The purpose of the G20 is to provide a platform for the world's leading economies to discuss and coordinate policies on global economic issues, such as trade, investment, financial stability, and sustainable development.

The G20 holds an annual summit, which is attended by the heads of state or government of its member countries, as well as representatives from international organizations such as the International Monetary Fund (IMF), World Bank, and World Trade Organization (WTO).
At the G20 summit, leaders discuss a range of economic and social issues, including global trade and investment, infrastructure development, climate change, digital transformation, and the fight against terrorism and corruption. The summit provides an opportunity for leaders to exchange views, build consensus, and work together to address common challenges.

The G20 also holds meetings throughout the year, including meetings of finance ministers and central bank governors, working groups, and task forces. These meetings aim to advance policy coordination and cooperation among the G20 members and with other international organizations.

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G20 Members

G20 Members:

The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom and United States) and the European Union. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

Guest Countries:

G20 logo and theme 2023 India:

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 Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature. Below the G20 logo is “Bharat”, written in the Devanagari script.

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 and in the wider universe.

The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.

G20 Foreign Ministers Meeting, New Delhi:

1st Anti-Corruption Working Group Meeting, Gurugram

How G20 Works:

The G20 operates on the basis of consensus among its members. The agenda for each summit is set by the host country, in consultation with the other members. The G20 is not a formal institution with a permanent secretariat or staff. Instead, it relies on a rotating presidency, with each member country hosting the annual summit and leading the group for a year.

The G20 focuses on a wide range of issues, including economic growth, job creation, financial regulation, trade, and climate change. The member countries engage in discussions and negotiations aimed at promoting global economic stability and growth, addressing major economic challenges, and developing coordinated policy responses.

The G20 has also established working groups and task forces to address specific issues in greater depth. These include groups focused on issues such as anti-corruption, energy, and development. The G20 also cooperates with other international organizations such as the International Monetary Fund, World Bank, and World Trade Organization.

In summary, the G20 operates as a platform for international cooperation and policy coordination among the world's leading economies. Its aim is to promote global economic stability, sustainable growth, and prosperity, while addressing major challenges and risks to the global economy.

FAQ:

Q:When was G20 summit held in India?

Ans: Presidency. The G20 New Delhi Summit will be chaired by the Indian Prime Minister, Narendra Modi. India's presidency began on 1 December 2022, leading up to the summit in the third quarter of 2023.

Q:Where is headquarter of G20?

Ans: The G20 developing nations (and, occasionally, the G21, G23 or G20+) is a bloc of developing nations established on 20 August 2003.

Q:Is India not part of G20?

Ans: The G20 comprises Argentina, Australia, Brazil, Canada, China, EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK and USA.