India will host the G-20 summit in New Delhi on September 9 and 10, 2023, according to a statement released by the Ministry of External Affairs on Tuesday
Over 200 G-20 meetings are anticipated to be held in India during its presidency, starting in December 2022, according to the Ministry of External Affairs.
The world’s top economies are together at the G20, a prestigious international conference. Its members are responsible for more than 80% of the world’s GDP, 75% of trade, and 60% of the planet’s population.
Last week, President Draupadi Murmu stated that the G-20’s international collaboration should be built on the ideas of inclusion, adaptability, and variety. She expressed hope that the G-20 Forum will advance with the goal of further strengthening multilateralism and global governance in order to create a peaceful, sustainable, and prosperous world for all under India’s presidency.
The G20 Summit, which will take place in Bali from November 15 to 16, has extended invitations to both the presidents of Russia and Ukraine. Tensions have already arisen with other members due to Russia’s participation in planning discussions this year.
The Group of Twenty is an intergovernmental organisation made up of the largest industrialised and emerging economies in the world. It consists of 19 nations, including the United States, Argentina, Australia, Brazil, Canada, China, France, Germany, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, and the European Union (EU).
As other guest international organisations, India will also invite the Asian Development Bank, International Solar Alliance, and Coalition for Disaster Resilient Infrastructure.
The G20’s finance track consists of eight work streams: international taxes, financial sector reforms, sustainable finance, financial inclusion, global macroeconomic policy, infrastructure financing, and international financial architecture.
The Sherpa track is also included, which has 12 work streams including anti-corruption, agriculture, culture, development, digital economy, employment, environment and climate, education, energy transition, health, trade and investment, and tourism.
There are ten engagement groups made up of private industry, civil society, and independent organisations that concentrate on topics such commerce, politics, labour, science, audit institutions, urban concerns, women’s issues, and youth and female issues.
The statement said that while India’s G20 priorities are being finalised, ongoing discussions focus on issues such as inclusive, equitable, and sustainable growth, LiFE or Lifestyle for the Environment, women’s empowerment, digital public infrastructure, tech-enabled development in industries like health, agriculture, education, and tourism, climate financing, global food and energy security, the fight against economic crime, and multilateral reforms.