BACKGROUND
The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and United States) and European Union. The G20 members represent around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
G20 is the premier forum for international economic cooperation and it plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
The G20 does not have a permanent secretariat or staff. Instead, the G20 Presidency rotates annually among the members and is selected from a different regional grouping of countries. The 19 member countries are therefore divided up into five groups comprising a maximum of four countries each. Most of the groups are formed on a regional basis, that is countries from the same region are usually put in the same group. Only Group 1 (Australia, Canada, Saudi Arabia and the United States) and Group 2 (India, Russia, South Africa and Türkiye) do not follow this pattern. Group 3 includes Argentina, Brazil, and Mexico; Group 4 includes France, Germany, Italy, and United Kingdom; and Group 5 includes China, Indonesia, Japan, and Republic of Korea. The EU, the 20th member, is not a member of any of these regional groups.
Each year another country from a different group assumes the G20 Presidency. The countries in a group are each equally entitled to take on the Presidency when it is their group's turn, though. India, from Group 2, holds the current Presidency of the G20 from 1 December 2022 to 30 November 2023.
The G20 Presidency is responsible for bringing together the G20 agenda in consultation with other members and in response to developments in the global economy. To ensure continuity, the Presidency is supported by a “troika” made up of the current, immediate past and next host countries.
During India’s Presidency, the members of the G20 troika are Indonesia, India and Brazil.
Inception of G20
The G20 was founded in 1999 after the Asian financial crisis of 1997-98 as an informal forum for the Finance Ministers and Central Bank Governors of the most important industrialized and developing economies to discuss international economic and financial stability.
Elevation to Leaders’ level
The G20 was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and in 2009, when it became apparent that the necessary crisis coordination would only be possible at the highest political level. Since then, the G20 Leaders have met regularly, and the G20 has become the premier forum for international economic cooperation.
The G20 Summit is held annually, under the leadership of a rotating Presidency. The forum initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to inter-alia include trade, climate change, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption.
The list of G20 Summits held so far, with their main focus areas, is placed at Annex-II.
Guest Countries and Invited International Organizations
In addition to the member countries, i.e. 19 countries
(Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and the United States) and the European Union, each G20 Presidency invites other guest countries and international organizations (IOs) to participate in the G20 meetings and Summit.
India has invited Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain and UAE as guest countries during its G20 Presidency. For Guest IOs, India has invited ISA, CDRI and ADB in addition to the regular G20 International Organizations (UN, IMF, WB, WHO, WTO, ILO, FSB and OECD) and Chairs of Regional Organizations (AU, AUDA-NEPAD and ASEAN).
G20 STRUCTURE
Sherpa Track
It is headed by Sherpa who is the representative of the Leader.
Focus areas: Socio-economic issues such as agriculture, anti-corruption, climate, digital economy, education, employment, energy, environment, health, tourism, trade and investment. The Working Groups under this track include:
1.Agriculture Working Group
2. Anti-corruption Working Group
3. Culture Working Group
4. Development Working Group
5. Digital Economy Working Group
6. Disaster Risk Reduction Working Group
7. Education Working Group
8. Employment Working Group
9. Energy Transitions Working Group
10. Environment and Climate Sustainability Working Group
11. Health Working Group
12. Tourism Working Group
13. Trade and Investment Working Group
Details on the above working groups are placed at Annex-I.
Finance Track
It is headed by the Finance Ministers and Central Bank Governors, who generally meet four times a year, with two meetings being held on the side-lines of WB/IMF meetings.
Focus areas: Fiscal and monetary policy issues such as the global economy, infrastructure, financial regulation, financial inclusion, international financial architecture, and international taxation. The Working Groups and Workstreams under this track include:
A. Framework Working Group
B. International Financial Architecture Working Group
C. Infrastructure Working Group
D. Sustainable Finance Working Group
E. Global Partnership for Financial Inclusion
F. Joint Finance and Health Task Force
G. International taxation Issues
H. Financial Sector Issues
Details on the above working groups and mechanisms are placed at Annex-I.
Initiatives
• Research and Innovation Initiative Gathering
Research and Innovation Initiative Gathering (RIIG), besides the Sherpa Track Working Groups, aims to enhance, intensify, and strengthen research and innovation collaboration among the G20 member countries. RIIG is furthering the work of the Academic Forum held during the Italian Presidency in 2021, by bringing together science, technology and innovation experts of the G20 member countries.
• G20 EMPOWER
The G20 Alliance for the Empowerment and Progression of Women’s Economic Representation (G20 EMPOWER) was launched during the G20 Osaka Summit in 2019. It aims to accelerate women’s leadership and empowerment in the private sector by leveraging its unique alliance among business leaders and governments across the G20 countries.
• SPACE ECONOMY LEADERS MEETING
Under India’s G20 Presidency, Indian Space Research organization/ Department of Space (ISRO/DOS) is organizing the 4th edition of the Space Economy Leaders Meeting (SELM) to continue the deliberations on the significance of space in shaping the global economy. The previous editions of SELM were organized by the Saudi Space Commission (2020), Italian Space Agency (2021) and National Research & Innovation Agency, Indonesia (2022). Considering importance of New Space in shaping the global economy, the theme for this year’s SELM is “Towards a New Space ERA (Economy, Responsibility, Alliance)”.
• G20 CHIEF SCIENTIFIC ADVISORS ROUNDTABLE (CSAR)
The G20-CSAR is a new initiative launched during India’s ongoing Presidency of the G20. G20-CSAR will bring together the Chief Scientific advisors of the G20 Heads of state/Government with the objective of creating an effective institutional arrangement/platform to discuss global Science and Technology (S&T) policy issues, which can subsequently evolve into an effective and coherent global science advice mechanism. Furthermore, G20-CASR aims to come up with solutions to some of the issues faced by the global S&T ecosystem. The priority areas of CSAR during India’s G20 Presidency include “One Health” and facilitating shared scientific infrastructure for global good, and collaboration in emerging and futuristic technologies & evolving standards. The first meeting of G20 CSAR was at Ramnagar, located in the Kumaon region of the state of Uttarakhand from 28th-30th March 2023.
Engagement Groups
As part of the G20 members' commitment to consult relevant stakeholder communities, dialogue is facilitated through the engagement groups, comprising nongovernment participants from each G20 member. These groups often draft recommendations to the G20 Leaders that contribute to the policy-making process. The engagement groups are as follows:
➢ Business20
➢ Civil20
➢ Labour20
➢ Parliament20
➢ Science20
➢ SAI20
➢ Startup20
➢ Think20
➢ Urban20
➢ Women20
➢ Youth20
Details on the above engagement groups are placed at Annex-I.
INDIA’S G20 PRESIDENCY 2023
For latest information and regular updates on India’s G20 Presidency including press releases, documents, speeches, photo gallery and G20 meetings’ videos, please visit:
https://www.g20.org.
Additionally, live updates can be accessed at G20 India (@g20org) /
Twitter;
www.facebook.com/g20org;
www.instagram.com/g20org;
and
www.youtube.com/@g20orgindia.
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