G20 Summit 2023 Host Country: Know More About It!

The Group of Twenty, sometimes known as the G20, is an international forum comprised of the world’s main industrialized and developing nations. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States are currently members, as is the European Union (EU).

The G20 meeting has been held yearly since 2011, with a rotating chairmanship. Initially focusing on broad macroeconomic policy, the G20 has subsequently broadened its scope to encompass trade, climate change, sustainable development, energy, environment, climate change, anti-corruption, and other issues.

The 2023 G20 Delhi summit is the impending eighteenth meeting of the Group of Twenty (G20), as India is the new G20 summit 2023 Host Country. India will assume the presidency on December 1, 2022, with the summit taking place in the fourth quarter of 2023. At the conclusion of the Bali summit, the G20 president gavel was passed from Indonesian President Joko Widodo to Indian Prime Minister Narendra Modi in an intimate ceremony.

During its chairmanship of the G20, which will begin on December 1, 2022, and end on November 30, 2023, India will host approximately 200 G20-related meetings around the country. Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE will be “guest nations” at the G20 Leaders’ Summit in New Delhi on September 9 and 10, 2023, the Ministry of External Affairs (MEA) stated on September 13.

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G20 Summit 2023 Host Country: Objectives and Purpose

India’s involvement in the G20 process originate from the awareness that India, as a significant emerging country, has a critical stake in the world economic and financial system’s stability.

Since its beginning, India has been an active participant in the G20 planning process, both on the Sherpas Track and the Financial Track. All seven G20 summits were attended by the Prime Minister. India’s strategy at the G20 Summits is motivated by the need to increase financial system inclusion, eliminate protectionist tendencies, and, above all, ensure that developing nations’ economic prospects do not suffer.

India has worked hard to keep the global community’s attention focused on the importance of ensuring enough financial flows to developing economies in order to satisfy their developmental demands.

India applauded the addition of development as a G20 process agenda item at the Seoul Summit and backed the Seoul Development Consensus and accompanying Multi-Year Action Plans. The Prime Minister advocated for the reinvestment of surplus savings in developing nations to solve not just current demand imbalances but also developmental imbalances.

India has fought to keep the vitality and credibility of G20 discussions alive by improving international financial regulatory systems, modernizing Bretton Woods institutions, enabling trade financing, and pushing forward the Doha agenda. As co-chair of the Framework Working Group on Strong, Sustainable, and Balanced Growth, India attempted to refocus the group’s activities on growth, jobs, fiscal consolidation, rebalancing demand from the public to the private sector, and concerns originating from internal imbalances within the Eurozone. India is committed to the G20 process of building a global economic and financial system that is stable, inclusive, and representative.

The announcement stated that the summit’s priorities are being “firmed up,” and that discussions will include “women’s empowerment, digital public infrastructure, health, agriculture, education, culture, tourism, climate financing, circular economy, global food security, energy security, green hydrogen, disaster risk reduction and resilience, fight against economic crime, and multilateral reforms.”

India’s G20 Presidency Theme is “Vasudhaiva Kutumba-Kam” or “One Earth One Family One Future”.

It is estimated that the G20 members are responsible for 85% of global GDP, 75% of international commerce, and two-thirds of the world population, making it the most sought-after platform for international economic cooperation. India is currently a member of the G20 Troika (the current, prior, and upcoming G20 Presidency), which includes Indonesia, Italy, and India.

G20 Summit 2023 Host Country: Participants

According to the Ministry of External Affairs, in addition to regular international organizations (UN, IMF, World Bank, WHO, WTO, ILO, FSB, and OECD) and regional organization chairs (AU, AUDA-NEPAD, and ASEAN), India, as G20 Presidency, will invite as guest countries Bangladesh, Egypt, Mauritius, The Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE, as well as the International Solar Alliance (ISA), Coalition for Disaster Resilient.

G20 Summit 2023 Host Country: List of Previous Hosts

G20 Summit 2023 Host Country: FAQs