India’s G20 Presidency reached a milestone on Tuesday as it marked a half-century of G20 meets. Three meets commenced today in Mumbai, Vizag and Ramnagar, taking the total to 50.
So far under India’s G20 Presidency which assumed on December 1, 2022, two Ministerial, one Sherpa, 23 Working Groups, 20 Engagement Groups, and one Curtain Raiser were held, leaving aside about 30 University Connect and dozens of Janbhagidari events that were held. India assumed the G20 Presidency from Indonesia on December 01 last year and will convene the G20 Leaders’ Summit for the first time later this year. India’s Presidency will continue till November 30, 2023.
India’s G20 Presidency is in the true spirit of ‘Vasudhaiva Kutumbakam’ or the ‘World is One Family’.
The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and the US and the European Union.
The G20 members represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.
The G20 was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
It was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”. (ANI)
