G20 Presidency:
Prime Minister will unveil the logo, theme and website of India’s G20 Presidency on 8th November 2022.
- G20 Presidency offers India an opportunity to contribute to the global agenda on pressing issues of international importance.
- G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
- The G20 was formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular.
- Its aim was to secure global financial stability by involving middle-income countries.
- The first G20 Summit took place in 2008 in Washington DC, US.
- The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom, the United States, and the European Union.
- The G-20 operates without a permanent secretariat or staff.
- The chair rotates annually among the members and is selected from a different regional grouping of countries.
- The chair is part of a revolving three-member management group of past, present and future chairs referred to as the
- The preparatory process for the G20 Summit is conducted through the established Sherpa and Finance tracks that prepare and follow up on the issues and commitments adopted at the Summits.
- The Sherpas’ Track focuses on non-economic and financial issues, such as development, anti-corruption and food security, while addressing internal aspects such as procedural rules of the G20 process.
- The Finance Track focuses on economic and financial issues
