Welcome to our comprehensive guide on the G-20 Summit 2023! In the ever-evolving global diplomacy and economics landscape, staying informed about pivotal international events is crucial. The G20 Summit, an annual gathering of the world’s major economies, is a significant forum for shaping global policies and addressing critical issues.
This article delves deep into the G-20 Summit 2023, exploring its theme, the country holding the presidency, the agenda, and the participating nations. Whether you’re a global affairs enthusiast or simply curious about the dynamics of international cooperation, this guide will provide you with all the essential insights you need. Let’s embark on a journey to unravel the intricacies of this year’s G-20 Summit.
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What is G20?
☛ The G20, or Group of Twenty, is an intergovernmental forum that brings together the world’s 20 largest economies.
☛ It was established in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
☛ The G20 summit, held annually, brings together the leaders of the G20 countries to discuss a wider range of issues, including climate change, terrorism, and sustainable development.
☛ The G20 is not a formal international organization but has become an important forum for global economic cooperation.
☛ The group’s informal structure allows it to be more flexible and responsive to changing circumstances than traditional international organizations.
☛ The G20 has also been praised for its ability to bring together countries from different regions and with different political systems.
☛ The G20 is not without its critics. Some argue that the group is dominated by the United States and other Western countries and that it does not adequately represent the interests of developing countries. Others argue that the G20 is ineffective in addressing global problems and is simply a talking shop for the world’s leaders.
☛ Despite its critics, the G20 remains an important forum for global economic cooperation. The group has played a significant role in responding to the global financial crisis, and it will likely continue to be a major player in shaping the global economy in the future.
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What are G20 Countries?
☛ The G20, also known as the Group of 20, is an intergovernmental forum consisting of 19 nations and the European Union (EU).
☛ Here are the 20 countries that are part of the G20:
- Argentina
- Australia
- Brazil
- Canada
- China
- France
- Germany
- India
- Indonesia
- Italy
- Japan
- Mexico
- Republic of Korea
- Russia
- Saudi Arabia
- South Africa
- Turkey
- United Kingdom
- United States
- European Union
☛ The President of the European Commission von der Leyen represents the European Union.
What is the G20 Grouping?
☛ The G20, a global platform comprising the world’s leading developed and emerging economies, initially consisted of 19 countries and the European Union.
☛ This group of 19 nations collectively accounts for 85% of the world’s GDP, manages 75% of international trade, and represents a combined population equal to two-thirds of the global total.
G20 Meeting 2023 Venue
☛ The G20 Summit 2023 is the upcoming eighteenth meeting of the G20 group.
☛ The summit is scheduled to take place at Bharat Mandapam International Exhibition-Convention Centre, Pragati Maidan, New Delhi in 2023.
☛ It will be the first G20 summit to be held in India as well as in South Asia.
☛ The summit will be held on September 9-10, 2023.
☛ The leaders of the G20 countries, as well as guests, are expected to attend the summit. The summit is expected to be a major event, and the global community will closely watch it.
The Theme of the G20 Meeting 2023
☛ The theme of the G20 Summit 2023 is “One Earth, One Family, One Future“.
☛ The theme reflects India’s commitment to multilateralism and its belief that the world’s challenges can only be solved through cooperation.
G20 Summit 2023 Logo
☛ The G20 logo is painted in the vibrant colours of India’s national flag – saffron, white green, and blue.
☛ India’s national flower lotus in this logo reflects growth amid challenges.
☛ And the earth reflects India’s pro-planetary approach to life, in perfect harmony with nature.
☛ “Bharat” is written in the Devanagari script below the G20 logo.
The Focus of the G20 Meeting 2023
The G20 Summit 2023 is expected to discuss a wide range of issues, including:
- The global economic recovery
- Climate change
- Sustainable development
- Food security
- Terrorism
- Digital transformation
- Global Health
☛ The summit is also expected to discuss the war in Ukraine and its impact on the global economy.
☛ The G20 summit is an important opportunity for India to play a leading role in shaping the global agenda. India has a strong track record of multilateral cooperation, and its presidency is expected to be a success.
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Why was the G20 Created?
The G20’s Origins
☛ 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’s Significance
☛ The G20 is widely recognized as the primary forum for international economic cooperation. It plays a crucial role in shaping and strengthening global structures and governance, particularly in addressing significant international economic challenges such as international financial stability, climate change mitigation, and sustainable development.
Guardians of Global Financial Stability
☛ During the global economic crisis 2008, which posed a severe threat to businesses and livelihoods worldwide, the G20, consisting of 20 countries, assumed a pivotal role in enhancing the stability and security of the global monetary system. Their strategic plans and reforms played a crucial role in averting a complete economic catastrophe.
G20 Presidency 2023
☛ The G20 presidency is a rotating one, held by a different country each year. India holds the G20 presidency from December 1, 2022, to November 30, 2023. This is the first time India has held the presidency of the G20.
☛ The G20 is a forum for the world’s major economies to discuss and coordinate economic policies.
☛ It is made up of 19 countries and the European Union. The G20 presidency gives India a chance to play a leading role in global economic governance.
☛ The theme of India’s G20 presidency is “Vasudhaiva Kutumbakam”, which means “The world is one family” in Sanskrit.
☛ India is also working to strengthen the G20’s role in addressing other global challenges, such as terrorism, migration, and inequality.
☛ The G20 presidency is a significant opportunity for India to showcase its economic and political leadership. It is also an opportunity for India to work with other countries to address the challenges facing the world.
Agenda of the G20 Summit 2023
☛ The agenda of the G-20 Summit 2023 is still being finalized, but the following are some of the key issues that are expected to be discussed:
☛ The Global Economy: The G-20 leaders will discuss the state of the global economy and how to promote sustainable and inclusive growth. They will also discuss the impact of the Russia-Ukraine war on the global economy.
☛ Climate Change: The G-20 leaders will discuss accelerating the transition to a clean, sustainable energy future. They will also discuss how to address the impacts of climate change, such as extreme weather events and rising sea levels.
☛ Sustainable development: The G-20 leaders will discuss how to achieve the Sustainable Development Goals (SDGs). They will also discuss how to promote inclusive and equitable development.
☛ Other issues: The G-20 leaders will discuss other issues, such as food security, digitalization, and terrorism.
☛ The G-20 Summit is a major opportunity for the world’s leading economies to come together and discuss the most pressing global challenges. The outcome of the summit will have a significant impact on the future of the world.
☛ Here are some of the specific topics that are expected to be discussed at the G-20 Summit 2023:
☛ Green development, climate finance, and the Lifestyle for Environment (LiFE) initiative: India has put forth these as its key priorities for the G20 dialogue in 2023. The LiFE initiative is a global call to action to adopt sustainable lifestyles.
☛ Accelerated, inclusive, and resilient growth: The G-20 leaders will discuss how to promote economic growth that is inclusive and resilient to shocks, such as the COVID-19 pandemic and the war in Ukraine.
☛ Accelerating progress on the SDGs: The G-20 leaders will discuss how to achieve the Sustainable Development Goals, which are a set of 17 goals that aim to end poverty, protect the planet, and ensure prosperity for all by 2030.
☛ Technological transformation and digital public infrastructure: The G-20 leaders will discuss using technology to promote economic growth and development. They will also discuss how to ensure that everyone has access to digital infrastructure.
☛ Multilateral institutions for the 21st century: The G-20 leaders will discuss how to reform multilateral institutions, such as the United Nations and the World Bank, to make them more effective in addressing global challenges.
☛ Women-led development: The G-20 leaders will discuss promoting women’s economic empowerment and leadership.
☛ The G-20 Summit is a complex and challenging event, but it is also an important opportunity for the world’s leading economies to come together and work towards a better future for all.
World’s Tallest Nataraja Bronze Sculpture
☛ A 28-foot tall bronze statue of Lord Nataraja, made in Swamimalai, Tamil Nadu, will be placed at the venue of the G20 summit in New Delhi.
Key Points about the Nataraja Bronze Sculpture
- The statue is made of eight metals: gold, silver, lead, copper, tin, mercury, iron, and zinc (Ashtadhatu).
- It is 22 feet in height and weighs 19 tonnes.
- It was made by the sons of renowned sculptor Devasenapathy Stapathi in Swamimalai, Tamil Nadu.
- It was made using the lost-wax casting method.
- It took six months to complete the statue.
- The cost of the statue is around ₹10 crore.
- It will be in front of the Delhi G20 Leaders’ Summit venue.
- Before reaching Karnataka, the statue will travel to Delhi through Ulundurpet, Salem, Krishnagiri, and Hosur in Tamil Nadu.
- It will then travel through Hoskote, Devanahalli, Karnool, Adilabad, Nagpur, Seoni, Sagar, Lalitpur, Gwalior, and Agra.
G20 Summit Host Country and President
| Year | Host Country | Location | Dates |
|---|---|---|---|
| 2023 | India | New Delhi | 9–10 September |
| 2024 | Indonesia | Bali | 14–15 November |
| 2025 | Argentina | Buenos Aires | 13–14 November |
| 2026 | Saudi Arabia | Riyadh | 12–13 November |
| 2027 | Italy | Rome | 11–12 November |
| 2028 | Canada | Toronto | 10–11 November |
| 2029 | France | Paris | 9–10 November |
| 2030 | Japan | Osaka | 8–9 November |
| 2031 | Germany | Berlin | 7–8 November |
| 2032 | Australia | Brisbane | 6–7 November |
| 2033 | Turkey | Antalya | 5–6 November |
G20 Summit 2023 in a Nutshell
| Year | G-20 Summit 2023 |
| Host Country | India |
| Venue | Pragati Maidan, New Delhi |
| Held in | Bharat Mandapam International Exhibition-Convention Centre (IECC) |
| Date | September 9-10, 2023 |
| Edition | 18th Meeting |
| Theme | “Vasudhaiva Kutumbakam” (One Earth, One Family, One Future) |
| Flower in G-20 Logo | India’s national flower, the lotus |
| Chairman | PM of India Narendra Modi |
| Number of Leaders and Delegates | 40 Countries |
| Member States | 20 member states of the G20 |
| Focus Areas | Global economy, Climate change, and Sustainable development |
G20 Summit Venue – 2024, 2025, 2026
☛ G20 Summit 2022 (17th): Indonesia (Nusa Dua, Bali)
☛ G20 Summit 2023 (18th): India (New Delhi)
☛ G20 Summit 2024 (19th): Brazil (Rio de Janeiro)
☛ G20 Summit 2025 (20th): South Africa
☛ G20 Summit 2026 (21st): United States
Frequently Asked Questions
India hosted the G20 summit in 2023.
The G20 Summit 2023 in India will be held at the Bharat Mandapam International Exhibition-Convention Centre (IECC) in Pragati Maidan, New Delhi.
The new president of the G20 in 2023 is India. India assumed the presidency on December 1, 2022, and will hold it until November 30, 2023.
Brazil will host the G20 summit in 2024. The summit will be held in Rio de Janeiro from July 12-14. It will be the first time that Brazil has hosted the G20 summit.
The theme for the G20 Summit 2023 is “Vasudhaiva Kutumbakam,” which translates to “One Earth, One Family, One Future.”
The United Kingdom (UK) is India’s largest G-20 investor country.
