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Tuesday, November 29, 2022
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India and the G20. All You Need to Know in a Nutshell

Written by Prarthana Sheopuri. Managing Editor, I Kid You Not.

The 18th G20 Summit will be held in New Delhi in September 2023

By I Kid You Not , in Current Stories Explained Featured , at November 9, 2022 Tags: , , , ,

Written by Prarthana Sheopuri. Managing Editor, I Kid You Not.

PM Modi unveiled the Indian logo, website, etc of the G20 today, and that’s why we are telling you about this.

Here’s why you need to know this..

The first thing to know – India is the President of The G20 

OK, great, but so what’s the G-20?

The G20, which stands for, Group of Twenty, is a group of twenty countries that include the world’s major developed and developing economies – these are India, Australia, Argentina, Brazil, Canada, China, France, Germany, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, the US, and the European Union.

Why and when was it formed?

The G20 was formed in 1999 after the Asian financial crisis of the late 1990s to talk about economic issues and to try and make sure the world would stay economically stable.

Initially, it was only a forum (getting together) of the Finance Ministers and Central Bank Governors of the countries.

The aim was to discuss global economic and financial issues – the leaders wanted to ensure the strong economic growth of the world. 

Later, after the global economic and financial crisis of 2007, the G20 became a forum for the Heads of State/Government to be part of it

Ok, so how does it work – when do the leaders meet and what do they discuss?

They meet once a year, in what’s called the G20 Summit, to discuss (mainly) economic issues, though that’s not all.

The leaders also talk about (and find try and solutions for):

Trade, climate change, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.

Ok, so India has become the President of this for how long?

For a year. That’s how it works. Every country is a president for a year – before India, it was Indonesia.

The presidency of the G20 rotates every year among members, and the country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’ (loosely meaning a group of three) to ensure that the G20 is following the agenda it is supposed to.

When will the G20 be held in India?

On the 9th and 10th of September 2023 in New Delhi. It’ll be the 18th Summit.

What issues will be discussed at this Summit?

Here are some..

Women empowerment, health, agriculture, education, culture, and tourism, including the ongoing Russia-Ukraine war.

Now, about the logo and the theme that PM Modi unveiled today

Here’s what it looks like

What does the logo signify?

The colours of the logo – saffron, green, white, and blue are derived from the Indian national flag.

The seven petals of the lotus in the logo signify the seven continents. Lotus is a symbol of hope, especially in these troubled times, as it blooms in adversity and also stands for knowledge and prosperity. The logo also reflects India’s pro-planet approach.

The theme is – ‘Vasudhaiva Kutumbakam’ or ‘One Earth One Family One Future’. It puts the focus on LiFe (Lifestyle for Environment), a concept that is based on environmentally sustainable and responsible choices. 

Why is the summit important for India?

The summit is the highest-profile international gathering ever to be hosted by the country. It offers a unique opportunity for India to contribute to the global agenda on pressing issues of international importance. 

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