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India to host G20 Summit in New Delhi on Sept...

G20 summit

The G20 leaders’ summit will be held in New Delhi on September 9 and 10, 2023, during India’s presidency, according to the Ministry of External Affairs (MEA).

India will hold the G20 Presidency for one year, from December 1, 2022 to November 30, 2023, and is expected to host over 200 meetings across the country beginning this December.

According to the MEA, India, as the G20 Presidency, will invite Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE as Guest countries.

While India’s G20 priorities are being finalised, the MEA statement stated: “Ongoing conversations… revolve around inclusive, equitable, and sustainable growth; LiFE (Lifestyle for Environment); women’s empowerment; digital public infrastructure and tech-enabled development in areas ranging from health, agriculture, and education to commerce, skill-mapping, culture, and tourism; climate financing; circular economy; global food security; energy security; green hydrogen; disaster risk reduction and resilience; developmental cooperation; fight against economic crime’

The MEA said in a statement that “India, Indonesia, and Brazil would form the troika during our presidency.” The troika would consist of three developing and emerging economies for the first time, giving them a stronger voice.

The Group of Twenty, also known as the G20, is an intergovernmental forum of the world’s major developed and developing economies. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States comprise it, as does the European Union (EU).

The G20 represents 85% of global GDP, 75% of international trade, and two-thirds of the world population, making it the premier forum for international economic cooperation. India is currently a member of the G20 Troika (the current, previous, and incoming G20 Presidency), which includes Indonesia, Italy, and India.

The G20 currently consists of:

  1. Finance Track has eight work streams (Global Macroeconomic Policies, Infrastructure Financing, International Financial Architecture, Sustainable Finance, Financial Inclusion, Health Finance, International Taxation, Financial Sector Reforms).
  2. Sherpa Track, which includes 12 work streams (Anti-corruption, Agriculture, Culture, Development, Digital Economy, Employment, Environment and Climate, Education, Energy Transition, Health, Trade and Investment, Tourism)
  3. 10 Private Sector/Civil Society/Independent Bodies Engagement Groups (Business 20, Civil 20, Labor 20, Parliament 20, Science 20, Supreme Audit Institutions 20, Think 20, Urban 20, Women 20,and Youth 20).

In addition to G20 members, the G20 Presidency has a tradition of inviting some guest countries and international organizations to its meetings and summits.

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