2023 G 20 Summit New Delhi

2023 G 20 Summit New Delhi :

The G20, 2023 New Delhi Summit was the eighteenth meeting of G20 (Group of 20).  It was first time held in India in Bharat Mandapam International Exhibition – Convention Centre, Pragati Maidan, New Delhi on 9-10 September 2023 by its presidency's theme being "Vasudhaiva Kutumbakam" in sanskrit or translated as "One Earth, One Family, One Future" in English. 

What is G20 :

The G20 Summit, also known as the Group of Twenty Summit, is an annual international meeting of leaders from the world's major economies. The G20 consists of 19 individual countries and the European Union, and it was established in 1999 to address global economic and financial issues.

Here are some key points about the G20 Summit:

1. Member Countries: The G20 includes the following member countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States, along with the European Union, which is represented by the European Commission and the European Central Bank.

2. Purpose: The primary purpose of the G20 Summit is to discuss and coordinate policies related to international financial stability and sustainable economic growth. Leaders from these countries gather to address various global challenges, including economic imbalances, trade issues, climate change, and development.

3. Rotating Presidency: The G20 operates on a rotating presidency system, with each member country taking on the role of the host and chair for one year. During its presidency, a country sets the agenda for the summit and leads discussions on various topics. The presidency rotates among the member countries on an annual basis.

4. Meetings: In addition to the annual summit of leaders, various working groups, ministerial meetings, and technical meetings are held throughout the year to prepare for the summit and discuss specific policy issues. These meetings involve finance ministers, central bank governors, and other relevant officials.

5. Outcomes: The G20 Summit produces declarations and communiqués that outline the agreed-upon actions and policy recommendations of the member countries. These documents often include commitments related to economic growth, trade, financial regulation, climate change, and other global challenges.

6. Expanding Agenda: Over the years, the G20 agenda has expanded beyond economic and financial matters to include discussions on issues such as health, education, cybersecurity, and sustainable development.

7. Engagement Groups: In addition to government leaders, the G20 engages with various stakeholder groups, including business, civil society, labor unions, and think tanks, through what are known as "engagement groups." These groups provide input and recommendations to the G20 process.

8. Criticism: The G20 has faced criticism for various reasons, including concerns about its effectiveness in addressing global challenges and issues related to inclusivity and representation, as not all countries are part of the group.

What is G20 Summit 2023 for students ?

The focus of the 2023 G20 Summit in New Delhi revolves around six key agenda : Green development, Climate finance and LiFE: Addressing environmental challenge through sustainable development and climate finance strategies such as the utilization of Low carbon Technologies for fighting Epidemics.

Why G20 is Important for India?

The G20 New Delhi Leader’s declaration also featured commitments to LiFE, implement sustainable energy transitions, address plastic pollution, provide sustainable finance, reaffirm the pursuit of sustainable Development Goals, preserve the ocean- based economy , and more.

Which country host G20 summit first?

The first G20 Summit was held in 2008 in Washington DC (USA).

Which country will host G20 summit in 2024?

Brazil will host the G20 in 2024, followed by South Africa in 2025.

Why is G20 2023 important?

The importance of G20 2023 is the energizing of the international economy, availability of greater resources for development, global workplace opportunities, expansion of tourism, stronger food security through millet production and consumption and a deeper commitment to bio- fuels are among the prominent outcomes of the G20 summit.

Who created G20 Logo ?

Pattnaik created the G20 Logo with the help of his students at the beach. Earlier, Pattnaik had created a sculpture at Puri Beach and dedicated it to Lord Krishna and India’s achievements on the occasion of Krishna Janmashtami.