G20 and India’s Presidency

The Group of Twenty (G20) is the world's main intergovernmental platform for economic cooperation. The forum is critical in creating and enhancing global governance and architecture on all key international economic issues. The G20 initially concentrated on broad macroeconomic concerns, but it has subsequently broadened its agenda to include, among other things, commerce, environmental issues, sustainability, health, agriculture, energy, ecosystems, and anti-corruption.

The Presidency held by India and its theme

India will preside over the G20 from December 1, 2022, to November 30, 2023. The theme of India's G20 presidency is "VasudhaivaKutumbakam," which translates as "One Earth. One Family. One Future." It is based on the Maha Upanishad, an ancient Sanskrit scripture. The idea essentially emphasizes the importance of all life—human, animal, plant, and microbe—and their interdependence on Earth and in the larger world. The concept also emphasizes LiFE (Lifestyle for Environment), with its related ecologically ethical and sustainable choices, both at the individual lifestyle and national development levels. It promotes worldwide transformational efforts that result in a cleaner, greener, and bluer future.

Members of the G20

The Group of Twenty (G20) is made up of 19 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) and the European Union. The G20 countries account for around 85% of worldwide GDP, more than 75% of global commerce, and almost two-thirds of the global population.

?THE G20'S PURPOSE

For one year, the G20 Presidency guides the G20 agenda and conducts the summit. It is divided into two tracks: the Finance Track and the Sherpa Track. The Finance Track is led by Finance Ministers and Central Bank Governors. The Sherpa Track is led by Sherpas, the personal representatives of the Leaders. Within the two tracks, there are thematically focused working groups composed of representatives from member ministries as well as guest nations and different international organizations.?

The Ministry of Finance is primarily in charge of the Finance Track. Throughout the period of each Presidency, these project members meet on a regular basis. The Sherpas manage talks throughout the year, addressing Summit agenda issues and managing G20 substantive activity. There are also engagement groups that bring civil society together: legislators, think tanks, women, youth, labor, corporations, and researchers. There is no permanent secretariat for the group. The Troika consists of the former, current, and incoming Presidency. The troika will consist of Indonesia, India, and Brazil under India's presidency. Also, under India's Presidency,

• Sherpa Track: There will be 13 working groups and 2 initiatives that will be carried out. The area of focus will be Agriculture, Anti-Corruption, culture, digital economy, Disaster Risk management, Development, Education, Employment, Sustainability, Health, Tourism, trade, and Investment.?
• Finance Track: Global economic outlook and monitoring of global economic risks; international taxation; reforms for a more stable and resilient global financial architecture; financing quality infrastructure; financial sector reforms and financing for future health emergencies and investments in pandemic prevention, financial inclusion;? preparedness, and response are among the key issues addressed by the Finance Track.

WHAT ARE INDIA'S G20 PRIORITIES?

India began its presidency term with a variety of cultural endeavors, including numerous Jan Bhagidari celebrations, a unique University Connect event involving 75 academic institutions from throughout the country, the illumination of 100 ASI sites with the G20 emblem and colors and a display of the G20 during the Hombill celebration in Nagaland. Shri Sudarshan Pattnaik, an Odisha-based sand artist, has produced sand art of India's G20 emblem on Puri beach.

• Green Development, Climate Finance, and Environmental Lifestyle (LiFE)
• Transformation of Technology and Digital Public Infrastructure
• Multilateral Institutions in the Twenty-First Century
• Rapid, Inclusive, and Resilient Growth
• The development led by women

Throughout the year, several additional events, youth activities, cultural activities, and site tours highlighting the sights and customs of different city venues are also organized.