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- Sep 1, 2023

Spotlight G20 Summit: Get Ready To Dive Into The Key Insights About India's Role

What is G20?

A Group of Twenty (G20) Summit 2023 is the premium forum meeting for international cooperation which plays a significant role in shaping and strengthening the economic issues.

Apparently, it was founded in 1999 after the Asian financial crises, including twenty of the world’s largest economies. The major purpose behind its inception was to create a platform where significant industrialized concerning global economic and financial stability.

The G20 nations collectively account for approximately 85% of the global Gross Domestic Product (GDP), more than 75% of the worldwide trade, and approximately two-thirds of the global population.

The G20, consisting of 19 individual nations (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and the United States) along with the European Union, collectively forms a prominent international assembly.

What's The Role Of G20 In India?

According to the government website on the G20 Summit, the G20 was an upgraded version of heads of state, and government in the wake of the global economic and financial crisis of 2007, ain 2009, was designated the “premier forum of international economic cooperation.

The Sherpas of member countries coordinate the G20 process, acting as personal emissaries of the Leaders. The Finance Track is led by member countries' Finance Ministers and Central Bank Governors.

What is the forum of the G20 Summit 2023?

Most awaited the G20 Summit will be held in New Delhi at ‘Bharat Mandap’ at the ITPO Convention Centre, Pragati Maidan. The event will be held on September 9 and 10. In addition to the primary summit location, foreign delegates are also set to visit key venues of the national capital like Rajghat, IARI Pusa, and NGMA (Jaipur House).

A complete schedule of G20 Summit:

September 3-6: 4th Sherpa Meeting

September 5-6: Finance Deputies Meeting

September 6: Joint Sherpas and Finance Deputies Meeting

September 9 - 10: Meeting of Ministers at the G20 Summit

September 13-14: 4th Sustainable Finance Working Group Meeting in Varanasi

September 14 - 16: 4th Meeting for the Global Partnership for Financial Inclusion in Mumbai

September 18 - 19: 4th Framework Working Group Meeting in Raipur.

G20 Summit 2023: Logo

The G20 Logo is illuminated by India’s national flag and contains vibrant colors of the ‘Tiranga’. The seamless combination of lotus colored in white green and blue with the Earth adds to the beauty of the logo. At this time, climate change is causing the existence of creatures and humans are losing their life, property and resources. The Earth reflection on the logo reminds us of the urgency to opt for an environmentally conscious approach.

G20 Summit 2023: Theme

The theme of the international summit is “Vasudhaiva Kutumbakam” or “One Earth”. One Family. One Future”. The words are derived from the prominent ancient Sanskrit words–Maha Upanishad. This theme gives the message of global unity which is a perfect slogan for the international community,

Additionally, it highlights the concept of LIFE and signifies a sustainable environment and responsible choices. These choices are appropriate at a national level.