G20 Summit
G20 Summit
CURRENT KING
G20
THE G20
☞ The G20, or Group of Twenty, is an intergovernmental forum that brings together the world’s 20
largest economies.
☞ Established in 26 September 1999 in response to the 1997-1998 Asian financial crisis, the G20 was
established in 1999 as a platform for Finance Ministers and Central Bank Governors to discuss global
economic and financial matters.
☞ The G20 is not a formal international Organization. (Informal structure allows it to be more flexible
and responsive to changing circumstances than traditional international organizations).
☞ The Group was formed as an answer to the Financial Crisis in 1997-98 of the Asian Tigers (Countries of
East and Southeast Asia), which caused its establishment in 1999.
☞ It first worked as a forum for the Central Bank Governors and Finance Ministers of the major
industrialised and developing economies to discuss global economic and financial stability.
☞ After the 2008 global financial crisis, it was upgraded to the level of Heads of State or Government
when it became clear that crisis coordination would be possible only at the highest political level.
☞ In 2009, it was declared as the “premier forum for international economic cooperation”.
☞ The G20 Leaders have met on a regular basis since then, and the G20 has emerged as the leading
platform for global economic cooperation.
☞ These members account for around 85% of the world GDP, 75% of the total international trade
and two-thirds of the global population.
☞ The G20 is composed of most of the world’s largest economies including both industrialised and
developing nations.
☞ An important feature of G-20 is that it is a non-binding forum, i.e., Its decisions are not legally
binding, and member countries are not required to implement them
1. The G20 summit in Hangzhou (China), 2016, saw the convergence of the US and China on the Paris
Agreement.
2. The G20 summit in Argentina, 2018 focused on fair and sustainable development.
3. G20 summit in Germany, 2021 focused on the issues regarding money laundering, international
tax havens, and corruption.
4. G20 summit in Bali (Indonesia), 2022 focused on financial stability, humanitarian crisis, poverty,
and aid to least developed nations, among other things.
☞ Indian PM Narendra Modi is the current Chairperson of the G20 Summit 2023
☞ Amitabh Kant is the G20 Sherpa of India.
☞ India is on a mission to create a shared global future with a rules-based order, peace, and just
growth for all through its Amrit Kaal initiative.
☞ It 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.
Invitees
Other than the members and multilateral institutions, Nine Countries have been invited –
1. Bangladesh
2. Netherlands
3. Oman
4. Singapore
5. Nigeria
6. Spain
7. United Arab Emirates
8. Egypt
9. Mauritius
Important Facts
1. India is hosting the G20 Leaders' Summit 2023 for the first time in history
2. A total of 43 Heads of Delegation attended final New Delhi Summit in September 2023, the
most ever in a G20.
3. The G20 Summit venue, 'Bharat Mandapam,' hosted the world's tallest 'Nataraja' statue,
measuring 28 feet in height, including its pedestal.
This imposing sculpture represents Lord Shiva in his cosmic dance form and symbolizes
the power of creation and destruction.
The 'Nataraja' statue was crafted using an ancient Chola casting technique known as the
lost-wax process. This technique, which has historical significance, was traditionally
used to create the renowned Chola bronzes.
The 28-foot-tall Nataraja statue is crafted from 'Ashtadhatu,' an eight-metal alloy-
copper, brass silver, gold, mercury, lead, iron and tin.
Renowned sculptor Radhakrishnan Sthapaty, hailing from Swami Malai in Tamil Nadu,
created this masterpiece, weighing approximately 18 tonnes.
4. As part of the G20 Summit, a 'Culture Corridor' has been established at 'Bharat Mandapam.'
This corridor aims to showcase cultural artefacts and heritage from all 19 G20 member
countries, highlighting the theme of 'Vasudhaiva Kutumbakam,' which signifies the unity
of all nations.
The 'Culture Corridor' will merge cultural heritage and the summit proceedings. Physical
and digital artefacts will be displayed in a 10,000 square foot area, with immersive
displays and a mega screen.
Initiatives by India
☞ Prime Minister Narendra Modi invited the Head of the African Union, Azali Assoumani, to take his
seat as a permanent member of the G20.
☞ The G-20 will now consist of 19 countries, the European Union and the African Union.
☞ The AU, a continental body of 55 member states, now has the same status as the European Union,
the only regional bloc with full membership.
☞ The move was proposed by India in June 2023 and welcomed by the AU and other G20 members.
☞ The inclusion of the AU in G20 is an achievement of India’s Presidency and reflects its commitment
to the developmental agenda of the Global South.
☞ The inclusion of the AU in G20 is a significant step towards more inclusive and representative
global governance.
☞ The AU represents a continent with 1.4 billion people and a collective GDP of USD 3 trillion.
☞ Africa is also one of the fastest-growing regions in the world, with a projected growth rate of 4.1%
in 2023.
☞ Africa’s voice and perspective are essential for addressing global challenges such as poverty
eradication, climate change, health security, digital transformation, trade facilitation, debt
sustainability, and peace and security.
☞ The inclusion of the AU in G20 also offers benefits and opportunities for both Africa and G20
members.
For Africa,
It provides a platform to advance its common interests and aspirations on the global
stage, such as
☞ the implementation of Agenda 2063 and Agenda 2030,
☞ the operationalization of the African Continental Free Trade Area (AfCFTA),
☞ the mobilization of climate finance and technology transfer
☞ the reform of international financial institutions.
☞ It opens new avenues for cooperation and partnership with Africa in various sectors such as
infrastructure development, renewable energy, digital economy, health care, education,
agriculture, tourism, and culture.
☞ It also enhances mutual understanding and trust among G20 members and African countries.
☞ The G20-CSAR is a new initiative launched during India’s ongoing Presidency of the G20.
☞ G20- CSAR will bring together the Chief Scientific advisors of the G20 Heads of
state/Government with the objective of creating an effective institutional
arrangement/platform to discuss global Science and Technology (S&T) policy issues.
☞ The priority areas of CSAR during India’s G20 Presidency include “One Health” and facilitating
shared scientific infrastructure for global good, and collaboration in emerging and futuristic
technologies & evolving standards.
☞ The first meeting of G20 CSAR was at Ramnagar, located in the Kumaon region of the state of
Uttarakhand from 28th-30th March 2023.
☞ India is the first to deliver a fully negotiated and embraced G20 Foreign Ministers Outcome
Document and Chair Summary (FMM ODCS).
☞ This comprehensive document highlighted critical themes relevant to member states, including
the strengthening of multilateralism, countering terrorism, and addressing global health
concerns, among others.
☞ An Independent Expert Group was formed under India’s G20 Presidency to provide
recommendations for bolstering Multilateral Development Banks and improving its efficiency
in confronting challenges faced during the 21st century.
☞ This initiative aims to promote research and awareness about agro-biodiversity, food security,
and nutrition in line with the International Year of Millets 2023.
☞ Secretariat- Indian Institute of Millets Research (IIMR), Hyderabad
☞ Technical Support -International Crops Research Institute for the Semi-Arid Tropics (ICRISAT
☞ Focus - Nutri-cereals or superfoods, mainly grown on marginal land in dry areas of temperate,
sub-tropical, and tropical regions
☞ Priority Areas-
Food Security and Nutrition
Building resilience and sustainable agriculture through approaches of climate resilient
agriculture and One Health
Digitalization for Agricultural Transformation
Public-Private Partnerships for Research and Development
☞ India in collaboration with the World Health Organization (WHO) will launch the GIDH to
promote data convergence, enhance the interface of health platforms, and encourage
investments in the digital health sector on a global scale.
☞ It aims to establish an interim Medical Countermeasure (MCM) network to respond effectively
to health emergencies.
☞ The initiative is designed to improve healthcare services worldwide through digital solutions,
aligning with the goal of universal health coverage.
☞ The summit additionally seeks to launch a Climate and Health Initiative in collaboration with
the Asian Development Bank, along with a patient and healthcare workforce mobility portal.
☞ Prime Minister Shri Narendra Modi along with the leaders of Singapore, Bangladesh, Italy,
USA, Brazil, Argentina, Mauritius and UAE, launched the Global Biofuel Alliance, on the
sidelines of the G20 Summit in New Delhi.
☞ This initiative aims to accelerate the transition to sustainable biofuels and reduce the world’s
dependency on traditional fossil fuels.
☞ The Global Biofuels Alliance focuses on promoting sustainable biofuels, especially in the
transportation sector, and aims to enhance markets, support global biofuel trade, share policy
insights, and provide technical assistance to national biofuel programs worldwide.
☞ The initiative aligns with India’s goal of transitioning to alternative fuels and reducing its
carbon emissions, with a target of achieving net-zero emissions by 2070.
☞ India also aims to increase the blending of ethanol in petrol to 20% by 2025 and is establishing
compressed biogas (CBG) plants
☞ India on the occasion of G-20 proposed to launch a G20 Satellite Mission for Environment and
Climate Observation, with an aim to help countries of the Global South.
☞ India has extended an invitation to all G20 countries to join this initiative.
1) A replica of the Konark Wheel from Odisha’s Sun Temple served as the backdrop for Prime
Minister Narendra Modi’s welcome handshake with G20 leaders as they arrived at the summit
venue in New Delhi. The Konark Wheel was built during the 13th century under the reign of King
Narasimhadeva-I
2) Prime Minister Narendra Modi was identified as the leader representing ‘Bharat’ at the G20
Summit. The placard before the Mr. Modi read as Prime Minister of Bharat instead of Prime
Minister of India.
3) The G-20 leaders recommended to revive the Black Sea Grain Initiative to help the movement of
grains, food, and fertilizers from Russia and Ukraine to the rest of the world.
4) “The three F’s — Food, Fuel, and Fertilizers — were issues of special concern at the G-20 Summit.
2023
Year
India
Host Country
Date
September 9-10, 2023
Troika
Indonesia, India and Brazil.
(a) Policy coordination between its members in order to achieve global economic stability, sustainable
growth
(b) Promote financial regulations that reduce risks and prevent future financial crises
(c) Create a new international financial architecture.
(d) Develop common vision to tackle challenges like climate change, environment sustainability,
corruption and energy crisis.
The agenda of the G20 has been expanding from a broad macroeconomic policy to include more areas of
cooperation.
☞ Food security: The leaders promised to work together to address food security issues and praised
the Black Sea grains initiative.
☞ Promoting gender equality: Recognize the importance of gender equality and commit to
promoting it by increasing women's participation in the workforce, reducing the gender pay gap,
and improving access to education and healthcare.
☞ Global balance of power: The G20 promotes a more equitable distribution of power among
developed and developing countries than the earlier formed blocs such as G-7 and P-5 (UNSC),
which helps to maintain a balance of power at the global level.
☞ Bringing adversaries on a common platform: The importance of the G20 lies in its ability to bring
together countries with different ideologies, political systems, and economic interests onto a
common platform to discuss and address global economic issues.
☞ Addressing climate change: The G20 has recognised the threat of climate change and has taken
some initiatives to address it.
The commitments adopted by the G20 members in the domain of climate change revolve
around the following issues:
1. energy efficiency and renewable energy
2. adoption of advanced and clean technologies
3. resilient infrastructure
4. tackling environmental challenges like
biodiversity loss
adoption of the Circular Carbon Economy etc.
☞ Networking and collaboration: The G20 provides an opportunity for leaders from different
countries to meet and exchange ideas, strengthening relationships and promoting collaboration on
economic issues.
☞ Global economic cooperation: The G20 has played a critical role in responding to economic crises
such as the 2008 global financial crisis, the Eurozone debt crisis, and the COVID-19 pandemic.
G-20
Host country
Summits Dates Host city Venue Host Leader
14–15 National
Washington,
November Building George W. Bush
1st United States D.C.
2008 Museum
30
November
Costa Salguero
–1 Argentina Buenos Aires Mauricio Macri
13th Center
December
2018
28–29 June
Japan Osaka Intex Osaka Shinzo Abe
14th 2019
(The summit
took place with
a worldwide
21–22
video
November Saudi Arabia Riyadh King Salman
15th conference due
2020
to the COVID-
19 pandemic in
Saudi Arabia)
30–31 EUR
October Italy Rome Convention Mario Draghi
16th
2021 Center
15–16
Nusa Dua, The Apurva
November Indonesia Joko Widodo
17th Bali Kempinski Bali
2022
9–10
Bharat
September India New Delhi Narendra Modi
18th Mandapam
2023
Expected Questions