write essay about g20

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Essay on G20 Summit in English: 100, 200 and 500 Words

The G-20 consists of the finance ministers and governors of the central banks of 19 of the world's top economies, plus the European Union and African Union. The goals of the G20 are to—coordinate policies among its members to achieve sustainable growth and global economic stability; advance financial laws that lower risks and avert future financial crises; and establish a new global financial architecture. Here are a few sample essays on the G20 Summit in English.

100 Words Essay on G20 Summit

200 words essay on g20 summit, 500 words essay on g20 summit.

The G20 Summit is an international forum for the governments and central bank governors from 21 major Economies. The summit was established in 1999 to discuss policy issues related to international economic cooperation and development. The 21 countries in the G20 account for approximately 85% of the world's GDP and two-thirds of its population. These countries are—Argentina, Australia, Brazil, Canada, China, the African Union, European Union, France, Germany, India, Indonesia, Italy, Japan, Russia, Mexico, Saudi Arabia, South Africa, Turkey, the UK and the USA. The G20 is important for India because it provides a platform for the country to engage with the world's largest economies, promote its economic interests, and address critical global issues.

Importance of G20 For India

The G20 is important for India for several reasons:

Representation: India is one of the countries represented in the G20, giving it a voice in the international forum for discussing policy issues related to the global economy. This provides India with an opportunity to share its perspectives and opinions on key economic issues and to participate in shaping global economic policies.

Economic Growth: The G20 provides a platform for India to engage with the world's largest economies and to promote its economic interests. India can leverage the G20 platform to attract investment and trade, driving its economic growth and development.

Global Issues: The G20 is an important platform for India to address global issues such as climate change, poverty, and inequality. India can work with other G20 countries to solve these issues and promote sustainable and inclusive economic growth.

Financial Stability: The G20 is also relevant for India because it plays a role in enhancing international financial stability. India can participate in discussions on financial regulation and stability, which can help ensure that the global financial system remains stable and resilient.

The G20 also provides India with an opportunity to participate in shaping international economic policies and enhance its financial stability. The 2024 G20 Summit is expected to focus on several key issues, including global economic recovery, promoting sustainable and inclusive economic growth, and addressing inequality and poverty. The leaders will also discuss ways to tackle the climate crisis, strengthen the international trade system, and enhance international financial stability.

One of the major topics of discussion at the 2024 G20 Summit will be around the ongoing climate change issues. The leaders will exchange views on the global response to world climate change. The G20 summit will help in designing some new rules and regulations to save the environment.

Another critical issue to be discussed is the global economy's recovery from the pandemic and the efforts needed to restore growth and create jobs. The leaders will focus on implementing policies that support investment and trade, promoting digital transformation, and addressing the challenges faced by small and medium-sized enterprises.

The 2024 G20 Summit will also provide an opportunity for the leaders to address the climate crisis and work towards a more sustainable and inclusive future. The summit is expected to explore ways to transition to a green economy and reduce greenhouse gas emissions while promoting economic growth and job creation.

The G20 Summit is a critical event for addressing the challenges facing the global community. The leaders will come together to discuss the issues affecting the world's economy, and the need for a sustainable and inclusive economic recovery. The summit will provide an opportunity for leaders to exchange views and work together towards a better future for all. It is a platform that can give new directions to the world.

Relevance of G20 Summit

The G20 Summit is relevant because it provides a platform for the leaders of the world's largest economies to come together and address critical global issues.

The G20 countries represent 85% of the world's GDP and two-thirds of its population, making it a significant forum for international economic cooperation and decision-making.

The G20 Summit allows leaders to exchange views, discuss policy solutions, and coordinate efforts to address major challenges facing the global community. These challenges can range from economic issues such as recession, trade, and investment, to social issues such as poverty, inequality, and climate change.

The G20 Summit is also relevant because it provides a platform for collective action. The leaders can work together to implement policies and initiatives that will have a significant impact on the global economy and society. For example, the G20 has played a crucial role in responding to the global financial crisis of 2008 and in coordinating the global response to the COVID-19 pandemic.

In conclusion, the G20 Summit is relevant because it brings together the leaders of the world's largest economies to address critical global issues and work towards finding solutions. Its significance lies in its ability to facilitate international cooperation and decision-making, and in its potential to drive collective action and create a better future for all.

Explore Career Options (By Industry)

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Data Administrator

Database professionals use software to store and organise data such as financial information, and customer shipping records. Individuals who opt for a career as data administrators ensure that data is available for users and secured from unauthorised sales. DB administrators may work in various types of industries. It may involve computer systems design, service firms, insurance companies, banks and hospitals.

Bio Medical Engineer

The field of biomedical engineering opens up a universe of expert chances. An Individual in the biomedical engineering career path work in the field of engineering as well as medicine, in order to find out solutions to common problems of the two fields. The biomedical engineering job opportunities are to collaborate with doctors and researchers to develop medical systems, equipment, or devices that can solve clinical problems. Here we will be discussing jobs after biomedical engineering, how to get a job in biomedical engineering, biomedical engineering scope, and salary. 

Ethical Hacker

A career as ethical hacker involves various challenges and provides lucrative opportunities in the digital era where every giant business and startup owns its cyberspace on the world wide web. Individuals in the ethical hacker career path try to find the vulnerabilities in the cyber system to get its authority. If he or she succeeds in it then he or she gets its illegal authority. Individuals in the ethical hacker career path then steal information or delete the file that could affect the business, functioning, or services of the organization.

GIS officer work on various GIS software to conduct a study and gather spatial and non-spatial information. GIS experts update the GIS data and maintain it. The databases include aerial or satellite imagery, latitudinal and longitudinal coordinates, and manually digitized images of maps. In a career as GIS expert, one is responsible for creating online and mobile maps.

Data Analyst

The invention of the database has given fresh breath to the people involved in the data analytics career path. Analysis refers to splitting up a whole into its individual components for individual analysis. Data analysis is a method through which raw data are processed and transformed into information that would be beneficial for user strategic thinking.

Data are collected and examined to respond to questions, evaluate hypotheses or contradict theories. It is a tool for analyzing, transforming, modeling, and arranging data with useful knowledge, to assist in decision-making and methods, encompassing various strategies, and is used in different fields of business, research, and social science.

Geothermal Engineer

Individuals who opt for a career as geothermal engineers are the professionals involved in the processing of geothermal energy. The responsibilities of geothermal engineers may vary depending on the workplace location. Those who work in fields design facilities to process and distribute geothermal energy. They oversee the functioning of machinery used in the field.

Database Architect

If you are intrigued by the programming world and are interested in developing communications networks then a career as database architect may be a good option for you. Data architect roles and responsibilities include building design models for data communication networks. Wide Area Networks (WANs), local area networks (LANs), and intranets are included in the database networks. It is expected that database architects will have in-depth knowledge of a company's business to develop a network to fulfil the requirements of the organisation. Stay tuned as we look at the larger picture and give you more information on what is db architecture, why you should pursue database architecture, what to expect from such a degree and what your job opportunities will be after graduation. Here, we will be discussing how to become a data architect. Students can visit NIT Trichy , IIT Kharagpur , JMI New Delhi . 

Remote Sensing Technician

Individuals who opt for a career as a remote sensing technician possess unique personalities. Remote sensing analysts seem to be rational human beings, they are strong, independent, persistent, sincere, realistic and resourceful. Some of them are analytical as well, which means they are intelligent, introspective and inquisitive. 

Remote sensing scientists use remote sensing technology to support scientists in fields such as community planning, flight planning or the management of natural resources. Analysing data collected from aircraft, satellites or ground-based platforms using statistical analysis software, image analysis software or Geographic Information Systems (GIS) is a significant part of their work. Do you want to learn how to become remote sensing technician? There's no need to be concerned; we've devised a simple remote sensing technician career path for you. Scroll through the pages and read.

Budget Analyst

Budget analysis, in a nutshell, entails thoroughly analyzing the details of a financial budget. The budget analysis aims to better understand and manage revenue. Budget analysts assist in the achievement of financial targets, the preservation of profitability, and the pursuit of long-term growth for a business. Budget analysts generally have a bachelor's degree in accounting, finance, economics, or a closely related field. Knowledge of Financial Management is of prime importance in this career.

Underwriter

An underwriter is a person who assesses and evaluates the risk of insurance in his or her field like mortgage, loan, health policy, investment, and so on and so forth. The underwriter career path does involve risks as analysing the risks means finding out if there is a way for the insurance underwriter jobs to recover the money from its clients. If the risk turns out to be too much for the company then in the future it is an underwriter who will be held accountable for it. Therefore, one must carry out his or her job with a lot of attention and diligence.

Finance Executive

Product manager.

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

Operations Manager

Individuals in the operations manager jobs are responsible for ensuring the efficiency of each department to acquire its optimal goal. They plan the use of resources and distribution of materials. The operations manager's job description includes managing budgets, negotiating contracts, and performing administrative tasks.

Stock Analyst

Individuals who opt for a career as a stock analyst examine the company's investments makes decisions and keep track of financial securities. The nature of such investments will differ from one business to the next. Individuals in the stock analyst career use data mining to forecast a company's profits and revenues, advise clients on whether to buy or sell, participate in seminars, and discussing financial matters with executives and evaluate annual reports.

A Researcher is a professional who is responsible for collecting data and information by reviewing the literature and conducting experiments and surveys. He or she uses various methodological processes to provide accurate data and information that is utilised by academicians and other industry professionals. Here, we will discuss what is a researcher, the researcher's salary, types of researchers.

Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

Transportation Planner

A career as Transportation Planner requires technical application of science and technology in engineering, particularly the concepts, equipment and technologies involved in the production of products and services. In fields like land use, infrastructure review, ecological standards and street design, he or she considers issues of health, environment and performance. A Transportation Planner assigns resources for implementing and designing programmes. He or she is responsible for assessing needs, preparing plans and forecasts and compliance with regulations.

Environmental Engineer

Individuals who opt for a career as an environmental engineer are construction professionals who utilise the skills and knowledge of biology, soil science, chemistry and the concept of engineering to design and develop projects that serve as solutions to various environmental problems. 

Safety Manager

A Safety Manager is a professional responsible for employee’s safety at work. He or she plans, implements and oversees the company’s employee safety. A Safety Manager ensures compliance and adherence to Occupational Health and Safety (OHS) guidelines.

Conservation Architect

A Conservation Architect is a professional responsible for conserving and restoring buildings or monuments having a historic value. He or she applies techniques to document and stabilise the object’s state without any further damage. A Conservation Architect restores the monuments and heritage buildings to bring them back to their original state.

Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

Highway Engineer

Highway Engineer Job Description:  A Highway Engineer is a civil engineer who specialises in planning and building thousands of miles of roads that support connectivity and allow transportation across the country. He or she ensures that traffic management schemes are effectively planned concerning economic sustainability and successful implementation.

Field Surveyor

Are you searching for a Field Surveyor Job Description? A Field Surveyor is a professional responsible for conducting field surveys for various places or geographical conditions. He or she collects the required data and information as per the instructions given by senior officials. 

Orthotist and Prosthetist

Orthotists and Prosthetists are professionals who provide aid to patients with disabilities. They fix them to artificial limbs (prosthetics) and help them to regain stability. There are times when people lose their limbs in an accident. In some other occasions, they are born without a limb or orthopaedic impairment. Orthotists and prosthetists play a crucial role in their lives with fixing them to assistive devices and provide mobility.

Pathologist

A career in pathology in India is filled with several responsibilities as it is a medical branch and affects human lives. The demand for pathologists has been increasing over the past few years as people are getting more aware of different diseases. Not only that, but an increase in population and lifestyle changes have also contributed to the increase in a pathologist’s demand. The pathology careers provide an extremely huge number of opportunities and if you want to be a part of the medical field you can consider being a pathologist. If you want to know more about a career in pathology in India then continue reading this article.

Veterinary Doctor

Speech therapist, gynaecologist.

Gynaecology can be defined as the study of the female body. The job outlook for gynaecology is excellent since there is evergreen demand for one because of their responsibility of dealing with not only women’s health but also fertility and pregnancy issues. Although most women prefer to have a women obstetrician gynaecologist as their doctor, men also explore a career as a gynaecologist and there are ample amounts of male doctors in the field who are gynaecologists and aid women during delivery and childbirth. 

Audiologist

The audiologist career involves audiology professionals who are responsible to treat hearing loss and proactively preventing the relevant damage. Individuals who opt for a career as an audiologist use various testing strategies with the aim to determine if someone has a normal sensitivity to sounds or not. After the identification of hearing loss, a hearing doctor is required to determine which sections of the hearing are affected, to what extent they are affected, and where the wound causing the hearing loss is found. As soon as the hearing loss is identified, the patients are provided with recommendations for interventions and rehabilitation such as hearing aids, cochlear implants, and appropriate medical referrals. While audiology is a branch of science that studies and researches hearing, balance, and related disorders.

An oncologist is a specialised doctor responsible for providing medical care to patients diagnosed with cancer. He or she uses several therapies to control the cancer and its effect on the human body such as chemotherapy, immunotherapy, radiation therapy and biopsy. An oncologist designs a treatment plan based on a pathology report after diagnosing the type of cancer and where it is spreading inside the body.

Are you searching for an ‘Anatomist job description’? An Anatomist is a research professional who applies the laws of biological science to determine the ability of bodies of various living organisms including animals and humans to regenerate the damaged or destroyed organs. If you want to know what does an anatomist do, then read the entire article, where we will answer all your questions.

For an individual who opts for a career as an actor, the primary responsibility is to completely speak to the character he or she is playing and to persuade the crowd that the character is genuine by connecting with them and bringing them into the story. This applies to significant roles and littler parts, as all roles join to make an effective creation. Here in this article, we will discuss how to become an actor in India, actor exams, actor salary in India, and actor jobs. 

Individuals who opt for a career as acrobats create and direct original routines for themselves, in addition to developing interpretations of existing routines. The work of circus acrobats can be seen in a variety of performance settings, including circus, reality shows, sports events like the Olympics, movies and commercials. Individuals who opt for a career as acrobats must be prepared to face rejections and intermittent periods of work. The creativity of acrobats may extend to other aspects of the performance. For example, acrobats in the circus may work with gym trainers, celebrities or collaborate with other professionals to enhance such performance elements as costume and or maybe at the teaching end of the career.

Video Game Designer

Career as a video game designer is filled with excitement as well as responsibilities. A video game designer is someone who is involved in the process of creating a game from day one. He or she is responsible for fulfilling duties like designing the character of the game, the several levels involved, plot, art and similar other elements. Individuals who opt for a career as a video game designer may also write the codes for the game using different programming languages.

Depending on the video game designer job description and experience they may also have to lead a team and do the early testing of the game in order to suggest changes and find loopholes.

Radio Jockey

Radio Jockey is an exciting, promising career and a great challenge for music lovers. If you are really interested in a career as radio jockey, then it is very important for an RJ to have an automatic, fun, and friendly personality. If you want to get a job done in this field, a strong command of the language and a good voice are always good things. Apart from this, in order to be a good radio jockey, you will also listen to good radio jockeys so that you can understand their style and later make your own by practicing.

A career as radio jockey has a lot to offer to deserving candidates. If you want to know more about a career as radio jockey, and how to become a radio jockey then continue reading the article.

Choreographer

The word “choreography" actually comes from Greek words that mean “dance writing." Individuals who opt for a career as a choreographer create and direct original dances, in addition to developing interpretations of existing dances. A Choreographer dances and utilises his or her creativity in other aspects of dance performance. For example, he or she may work with the music director to select music or collaborate with other famous choreographers to enhance such performance elements as lighting, costume and set design.

Social Media Manager

A career as social media manager involves implementing the company’s or brand’s marketing plan across all social media channels. Social media managers help in building or improving a brand’s or a company’s website traffic, build brand awareness, create and implement marketing and brand strategy. Social media managers are key to important social communication as well.

Photographer

Photography is considered both a science and an art, an artistic means of expression in which the camera replaces the pen. In a career as a photographer, an individual is hired to capture the moments of public and private events, such as press conferences or weddings, or may also work inside a studio, where people go to get their picture clicked. Photography is divided into many streams each generating numerous career opportunities in photography. With the boom in advertising, media, and the fashion industry, photography has emerged as a lucrative and thrilling career option for many Indian youths.

An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism , Advertising , Marketing Management . Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication) , B.M.M. (Bachelor of Mass Media) , or  MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

Production Manager

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

ITSM Manager

Automation test engineer.

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

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Essay on G20

Students are often asked to write an essay on G20 in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on G20

Introduction.

G20, short for Group of Twenty, is an international forum for governments and central bank governors. It consists of 19 countries and the European Union.

Members of G20

The member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States.

Importance of G20

The G20 was formed to discuss policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization.

Also check:

• Paragraph on G20
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250 Words Essay on G20

Introduction to g20.

The Group of Twenty (G20) is an international forum for the governments and central bank governors from 19 countries and the European Union. Established in 1999, the G20 aims to discuss policy issues pertaining to the promotion of international financial stability.

Member Countries and Influence

The G20 members include a mix of the world’s largest advanced and emerging economies, representing about two-thirds of the world’s population, 85% of global gross domestic product, and over 75% of global trade. The influence of the G20 extends beyond its core members due to its economic and political weight.

Role and Function

The primary role of the G20 is to prevent future international financial crises. It seeks to shape the global economic agenda, by fostering dialogue amongst key countries within the global economic system. The G20 has no permanent staff or headquarters, making it a flexible and informal forum.

Significance and Criticism

The G20’s significance lies in its capacity to facilitate international economic cooperation. However, it has been criticized for its lack of transparency, accountability, and representation of smaller or less developed countries.

Despite its criticisms, the G20 remains an important platform for dialogue and decision-making at the highest levels of government and central banking. Its ability to adapt and respond to global economic challenges will continue to shape its relevance in the years to come.

500 Words Essay on G20

The Group of Twenty, popularly known as G20, is an international forum for governments and central bank governors from 19 countries and the European Union. Established in 1999, the G20 aims to discuss policy issues pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization.

Member Nations and Structure

The G20 comprises 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, and the European Union. These economies represent around 85% of the gross world product (GWP), 80% of world trade, two-thirds of the world population, and approximately half of the world’s land area. The G20 operates without a permanent secretariat or staff, and its chairmanship rotates annually among its members.

Role and Importance

The G20 plays a pivotal role in global economic governance. Amidst the global financial crisis of 2008, the G20 was instrumental in preventing the global economy from slipping into a depression. It did so by coordinating national fiscal stimulus packages, enhancing the resources of international financial institutions, and initiating a financial sector reform agenda.

Challenges and Criticisms

Despite its significant role, the G20 has been criticized for its lack of representation and transparency. Critics argue that many countries, especially those from Africa, are underrepresented. Furthermore, decisions are often made behind closed doors, with little input from non-member countries. The G20’s effectiveness has also been questioned given the persisting global economic imbalances and the lack of enforceability of its decisions.

Future of G20

The future of the G20 hinges on its ability to adapt and respond to global challenges. Climate change, income inequality, and digital transformation are just a few issues that require a coordinated international response. The G20’s capacity to effectively address these issues will determine its relevance in the coming years.

The G20, as a forum for international economic cooperation, plays a crucial role in the global economic landscape. While it has its share of criticisms, its contribution to mitigating the effects of the 2008 financial crisis is noteworthy. As we move forward, the G20 must strive to enhance its representation, transparency, and effectiveness to address the pressing challenges of our time.

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Essay on G20 Summit

Essay on G20 Summit- The G20 Summit is an annual gathering of leaders from the world’s largest economies and the European Union. It serves as a critical forum for international economic cooperation and development. Established in 1999, the G20 Summit plays a significant role in shaping the global economic landscape and addressing pressing global challenges. This essay will explore the origins and evolution of the G20, its organizational structure, the importance of the summit, India’s G20 Summit presidency in 2023, and the key discussions and outcomes of the G20 New Delhi Summit.

Origins and Evolution of the G20

The G20 was created in response to the financial crises that emerged in several emerging economies in the 1990s. It aimed to provide a platform for Finance Ministers and Central Bank Governors to discuss global economic and financial issues. In December 1999, the first informal dialogue took place in Berlin, Germany, with representatives from advanced and emerging economies. Since then, Finance Ministers and Central Bank Governors have met annually.

Organizational Structure of the G20

Unlike other international organizations, the G20 operates without a permanent secretariat or staff. The chairmanship of the G20 rotates annually among its members. The chair, along with the past and future chairs, forms the Troika, which manages the G20’s affairs. The preparatory process for the G20 Summit is conducted through the Sherpa and Finance tracks. The Sherpa track focuses on non-economic and financial issues, while the Finance track addresses economic and financial matters. Expert working groups support both tracks in their technical and substantive work.

Importance of the G20 Summit

The G20 Summit holds immense importance as it brings together countries that represent approximately 85% of global GDP, 80% of global trade, and two-thirds of the world’s population. It serves as a platform for leaders to exchange ideas, deliberate on policy solutions, and coordinate efforts to address global challenges. The G20 Summit has played a crucial role in responding to major crises such as the 2008 global financial crisis and coordinating the global response to the COVID-19 pandemic.

India’s G20 Summit Presidency 2023

India assumes the G20 Summit presidency in 2023, reflecting its growing economic prowess and global influence. As the host of the G20 Summit, India aims to advocate for its economic interests and contribute to resolving critical global challenges. India’s G20 leadership provides an opportunity to showcase its expertise in areas such as women empowerment, democracy, and digital technologies. As a country with core democratic values, India can demonstrate that conflicts can be resolved when democracy becomes a culture.

India’s foreign policy focuses on the “global common good.” Through its G20 leadership, India aims to find sustainable solutions to key global challenges, including climate change, emerging technologies, food and energy security. India’s G20 presidency also presents an opportunity to address long-standing anomalies that disadvantage developing countries, especially in the areas of agriculture and food subsidies.

G20 New Delhi Summit: Discussions and Outcomes

The G20 New Delhi Summit, held on September 9 and 10, 2023, focused on the theme “One Earth, One Family, One Future.” The summit addressed various important issues, including food security, climate and energy, development, health, and digitalization. The discussions aimed to find collaborative solutions to these challenges and promote global economic stability and sustainable growth.

In Session 1, titled “One Earth,” participants discussed the world economy, food security, climate and energy, and the environment. The importance of observing the United Nations Charter and achieving a just and lasting peace in Ukraine was emphasized, given Russia’s aggression. Prime Minister Kishida highlighted the need for cooperation among countries to address global crises and reaffirmed the significance of the G7 Hiroshima Summit’s outcomes being integrated into the G20.

In Session 2, titled “One Family,” inclusive growth, the Sustainable Development Goals (SDGs), and health were discussed. G20 members stressed the importance of reducing poverty and inequality, accelerating efforts towards achieving the SDGs, and preparing for pandemics.

In Session 3, titled “One Future,” leaders discussed multilateral reforms, digitalization, and other issues. Prime Minister Kishida reiterated Japan’s support for the African Union’s membership in the G20, acknowledging the increasing roles of African countries in the international community. He highlighted the necessity of multilateral system reforms to overcome global challenges and shape a better future.

The G20 New Delhi Leaders’ Declaration, issued as a summary of the discussions, highlighted the commitments and actions agreed upon by the participating countries. Prime Minister Kishida engaged in brief talks with leaders from over 29 countries, fostering dialogue and strengthening international cooperation.

The G20 Summit plays a vital role in shaping the global economy and addressing pressing global challenges. As India assumes the G20 Summit presidency in 2023, it has the opportunity to advocate for its economic interests and contribute to finding sustainable solutions to key global issues. The discussions and outcomes of the G20 New Delhi Summit reflect the commitment of participating countries to collaborate and take collective action for global economic stability, inclusive growth, and the well-being of all nations. By working together, the G20 members can shape a better future for the world economy and foster international cooperation on a scale commensurate with their collective influence.

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What is the G20?

This is the first meeting of the Group of 20 (G20) since Italy hosted the 2021 G20 summit in Rome. Image:  Leon Neal/Pool via REUTERS

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Timothy conley.

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Stay up to date:, global governance.

This article was first published in 2016 and has been updated in November 2022.

• Leaders from the world’s twenty largest economies are gathering in Bali, Indonesia this week to discuss the world’s most pressing challenges.
• High on the list of agenda items this year are US-China trade relations, the war in Ukraine and the likely economic recession.
• This is the first meeting of the Group of 20 (G20) since Italy hosted the 2021 G20 summit in Rome.

This year’s Group of 20 (G20) summit is being chaired by Indonesian President Joko Widodo, who has hailed the two-day gathering as an opportunity “to build a healthier, more just, and a more sustainable order” in the aftermath of the COVID-19 pandemic.

The G20 is a forum of the twenty largest economies in the world that meets regularly to discuss the most pressing issues facing the global economy.

Together, the G20 accounts for more than 80% of world GDP, 75% of global trade and 60% of the population of the planet. The current members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, plus the European Union.

What does the G20 discuss?

The G20 started in 1999, following the Asian financial crisis, as a forum for finance ministers and central bank governors from the major developed and emerging economies to discuss global financial issues.

Amid the global financial crisis in 2008, it grew into the leaders’ summit, a place where presidents and prime ministers could get together for two days to try to solve the world’s economic problems.

Successive meetings of G20 leaders were held in Washington DC in 2008, London in early 2009 and Pittsburgh in late 2009, and have since become annual fixtures.

In the run-up to summits, senior officials known as "sherpas" thrash out the issues for discussion, with the aim of getting G20 members to reach agreement at the summit. Like sherpas in the Himalayas, they help guide their leaders through often difficult terrain, and do the diplomatic legwork.

There are also meetings of finance ministers and central bank governors, trade representatives and anti-corruption working groups.

Who is invited?

The G20 presidency rotates between members and is picked from different regions each year. In 2015, the G20 host was Turkey. This year it is China’s turn, with the theme: “Toward an innovative, invigorated, interconnected and inclusive world economy.”

Spain is a "permanent invitee", and the G20 host also invites a handful of guest countries as a way of reaching out to non-members. However, to invite more nations to join the G20 would make decision-making too cumbersome, the thinking goes.

The heads of a number of international organizations also participate, including the International Monetary Fund, the United Nations, the World Bank and the World Trade Organisation.

Why the summit matters

While the G7 is made up of rich countries, the G20 manages to get leaders from both developed and emerging economies around the table, representing a far broader range of views.

It has been credited with reaching important agreements such as the trillion-dollar pledge in 2009 to help struggling economies during the global financial crisis.

Sometimes, however, it has proved hard for such a diverse group of countries to reach consensus. The hope that the G20 agenda would broaden beyond the global economy to include discussion of political issues, such as security and climate change, has not really materialized.

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License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

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Essay on G20 in English

In the world of international finance and economics, the G20 is one of the most important forums for discussion and decision-making.

Comprising the world’s 20 largest economies, the G-20 meets annually to address key issues in the global economy and coordinate economic policies.

In this essay, we will explore the history, structure, and significance of the G20 and examine the key issues it has tackled in recent years.

Table of Contents

Introduction: The Importance of Economic Coordination

The global economy is highly interconnected, and economic policies in one country can have far-reaching impacts worldwide.

In order to ensure stability and growth in the international economy, governments need to coordinate their policies and work together to address common challenges.

The G20 was created to facilitate this coordination and provide a forum for discussion and decision-making.

What is the G20?

The G20 or group of twenty is a forum for the world’s largest economies to discuss economic policy and coordinate their actions.

The group was founded in 1999, in the aftermath of the Asian financial crisis, as a meeting of finance ministers and central bank governors.

In 2008, in response to the global financial crisis, the G-20 was elevated to a leaders’ summit, with the first meeting taking place in Washington, D.C., that same year.

Today, the G20 comprises 19 countries plus the European Union, representing approximately two-thirds of the world’s population and 85% of global GDP.

G20 member countries 

• Saudi Arabia
• South Africa
• South Korea
• United Kingdom
• United States

Structure of the G-20

The G20 operates through several working groups, each focused on a specific area of economic policy.

These groups prepare reports and policy recommendations for the leaders’ summit, where final decisions are made.

The G20 also has a rotating presidency, with the host country responsible for setting the agenda and chairing the meetings.

The presidency rotates annually, with the most recent host being Italy in 2021 and Indonesia set to take over in 2022.

Key Issues Addressed by the G20

Over the years, the G20 has addressed various economic issues, from financial regulation to trade to climate change.

Some of the key issues that the G20 has focused on in recent years include:

1. Global Financial Regulation

In the aftermath of the 2008 financial crisis, the G20 played a key role in developing new regulations to prevent a similar crisis from happening again.

The group established the Financial Stability Board (FSB) to coordinate international efforts to strengthen financial regulation and has worked to implement a range of reforms aimed at increasing transparency and reducing risk in the financial system.

The G20 has also promoted international trade and reduced trade barriers.

The group has pledged to resist protectionism and support the multilateral trading system and has worked to negotiate new trade agreements, such as the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP).

3. Climate Change

The G20 has also been involved in addressing climate change and promoting sustainable development.

The group has committed to reducing greenhouse gas emissions and has supported the Paris Agreement on climate change.

The G20 has also focused on promoting renewable energy and improving energy efficiency.

4. Digital Economy

The G20 has recognized the growing importance of the digital economy and has worked to develop policies to promote the growth of this sector.

This has included efforts to promote cross-border data flows and ensure digital platforms operate in a fair and competitive environment.

5. COVID-19 response

In 2020, the G-20 was called upon to respond to the COVID-19 pandemic, which has had significant economic impacts worldwide.

The group has coordinated efforts to support the global economy, including fiscal stimulus measures and debt relief for the poorest countries.

The Significance of the G20

The G20 is significant for several reasons:

1. It brings together the world’s largest economies, giving it significant influence over global economic policy.

2. The G20 provides a discussion and coordination forum, helping prevent conflicts and promote cooperation.

3. The G20 has been important in addressing key economic challenges, from financial stability to climate change.

The G20 is a vital forum for discussion and decision-making in the global economy.

Through its work, the G-20 has helped to promote cooperation and address key economic challenges.

Its significance is likely to continue in the years ahead.

Essay on G20 in English for School Students (400 – 500 words)

The G20, or Group of Twenty, is an international forum comprising 19 countries and the European Union, representing the world’s leading economies.

The G20 aims to promote international economic cooperation and policy coordination to achieve stable, sustainable, and inclusive growth.

At its core, the G20 is a platform for leaders to come together and discuss the most pressing global economic issues.

It allows countries to exchange ideas, share best practices, and work towards common goals.

From tackling climate change to promoting financial stability, the G20 is critical in shaping the global economic agenda.

However, the G-20 is more than just a forum for economic cooperation.

It is also a platform for building relationships and fostering trust between countries.

In an increasingly divided world, the G-20 allows leaders to come together and find common ground.

Perhaps one of the most significant contributions of the G20 has been its response to the global financial crisis of 2008.

Amid the crisis, the G20 quickly mobilized to coordinate a global response.

They worked together to stabilize the financial system, stimulate economic growth, and protect jobs.

That was not an easy task, but Leaders put aside their differences and worked towards a common goal.

The G20 rose to the challenge, and their efforts were instrumental in preventing a global economic collapse.

Of course, the G-20 is not without its challenges.

As with any organization, there are disagreements and tensions between member countries.

However, even in the face of these challenges, the G20 has managed to maintain its relevance and effectiveness.

At its heart, the G20 is a symbol of hope.

It reminds us that, despite our differences, we can come together to build a better future.

In a world that can often feel overwhelming and chaotic, the G20 offers a glimmer of hope that we can work towards a brighter tomorrow.

Nevertheless, the G20 cannot do this alone. It requires the collective efforts of all member countries to achieve its goals.

It requires leaders willing to put aside their differences and work towards a common goal.

As we look to the future, the role of the G-20 will only become more critical.

From climate change to inequality, our world’s challenges are complex and interconnected.

The G-20 provides a platform for addressing these challenges and building a more equitable and sustainable future for all.

In conclusion, the G20 is a powerful symbol of international cooperation and unity.

It serves as a reminder that, despite our differences, we can work together towards a common goal.

As we face future challenges, let us remember the lessons of the G20 and work towards building a more just and equitable world.

Essay on G-20 in English for School Students (250 words)

The G20, also known as the Group of Twenty, is an international forum of 19 countries and the European Union.

Its members represent around 80% of the world’s gross domestic product and two-thirds of its population.

The forum was established in 1999 to discuss and coordinate international economic and financial issues.

The G20 is considered one of the world’s most powerful international forums, and its decisions have far-reaching consequences.

The forum brings together leaders from the world’s largest economies, including the United States, China, Japan, Germany, France, and the United Kingdom.

The G20’s mission is to promote international economic growth, financial stability, and member cooperation.

The forum plays an important role in shaping global economic policies and addressing trade, investment, energy, and climate change issues.

One of the key achievements of the G20 has been its response to the global financial crisis of 2008-2009.

The forum was critical in coordinating international efforts to stabilize financial markets and prevent global economic collapse.

In recent years, the G-20 has focused on promoting sustainable economic growth and addressing issues such as income inequality, climate change, and the digital economy.

The forum has also been key in promoting international cooperation on issues such as the COVID-19 pandemic and global vaccine distribution.

The G20 is an important forum for addressing international economic issues and promoting global cooperation.

Its members have the power and influence to shape global economic policies and address some of the world’s most pressing challenges.

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Essay on G20 Summit 2023 in English for School Students

Essay on g20 summit delhi: the g20 summit 2023 is being held in new delhi, india. students must understand how important this is for our nation. check this english essay on g20 summit 2023 and amaze your teachers and friends with your knowledge.

About G20 Summit 2023

The 18th G20 Summit is the high point of a year filled with G20 activities. The G20 Summit 2023 is being held in Delhi, India from September 9 and September 10, 2023.

Who are G20 Members?

When did india join the g20, what is the theme of the 2023 g20 summit delhi, which country will host the g20 presidency in 2024, 200 words essay on g20 summit 2023.

The G20 Summit stands as a pivotal international gathering where the leaders and central bank governors from 20 of the world's most influential economies come together to deliberate on matters of global economic significance. Established in 1999, this summit was conceived to facilitate discussions surrounding policy issues concerning international economic cooperation and development.

The G20 member nations collectively wield tremendous economic power, representing a staggering 85% of the world's Gross Domestic Product (GDP) and a majority of the global population. These member countries include Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Russia, Mexico, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States.

For India, the 2023 G20 is of paramount importance. It serves as a platform through which the nation can engage with the world's foremost economic players, advocating for its economic interests and addressing pressing global concerns. India, with its rapidly growing economy and substantial population, seeks to leverage this forum to not only safeguard its own interests but also to contribute to the resolution of critical global challenges, such as climate change, trade, and economic stability.

Importance of the G20 Summit

Together, the G20 members account for approximately 85% of the world's total economic output (GDP), more than 75% of worldwide trade, and nearly two-thirds of the global population, making it a vital forum for international economic cooperation. The G20 Summit is important as it serves as a platform for the leaders of the world's largest economies to collaborate on pressing global matters. 

At the G20 Summit, leaders exchange ideas, deliberate on policy solutions, and coordinate efforts to tackle various global challenges, encompassing economic issues like recessions, trade, and investments, as well as social concerns like poverty, inequality, and climate change.

Importance of India’s G20 Summit Presidency 2023

G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.

During the course of its G20 Presidency, India will host about 200 meetings in 32 different sectors in multiple locations across India.

• According to Prime Minister Modi, this term can be an opportunity for India to share its expertise with the world in areas of women empowerment, democracy and digital technologies.
• As a country with core democratic values, India can show the world that the scope of conflict can come to an end when democracy becomes a culture. This gains significance amidst the ongoing Russia-Ukraine conflict.
• India’s foreign policy is focusing on the ‘global common good’. Through its G20 leadership, India hopes to extend this principle towards finding sustainable solutions to some of the key global challenges emerging out of the interconnectedness of the world, such as climate change, new and emerging technologies, food and energy security, etc.
• This would be the first time when the Troika would consist of three developing countries and emerging economies.
• It is hoped that as a result there would be a shift in the balance of power within the G20 favouring emerging economies to have a greater share in decision-making at this grouping.
• The G-20 Presidency presents a great opportunity for India to correct the long-standing anomalies that go against developing countries, especially in the domain of agriculture and food subsidies.

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G20 Summit and Global Economic Governance Research Paper

Working thesis, potential argument, hypothesis: use of technology to cut on the costs of the g20 summit, unfulfilled promises, defenders of self interest, the financial stability board, works cited.

The Group of Twenty (G20) summit was established in 1999 following the financial crisis of the late 20th century that affected, especially, Asia (Arner and Schou-Zibell). It consists of twenty Ministers of finance and Governors of Central banks from both emerging-market countries and developed economies (Edkins and Zehfuss). Its first meeting was held in Berlin, Germany, in December 1999. One of the reasons why the G20 summit came into existence was the realization that important emerging-market countries the world over had not been given a forum to discuss economic and governance issues on the world stage. Its mandate is to promote discussion and review of policies between industrialized and emerging-market countries (Blustein).

Before the emergence of the G20 summit, there had been many other similar summits that had come up with an aim of promoting dialogue on issues of governance and economics. These summits ideally came into existence to build financial growth, development, and structure in international relations. They included the G-7, G-22, and G-33 (Dunne and Smith). The larger groups, G-22 and G-33, demonstrated that there were benefits in involving emerging-market countries in regular consultations, leading to the formation of the G20. Unlike other international organizations, the G20 does not have a permanent secretariat and it promotes the informal interchange of ideas and views on international issues (Dunne and Smith).

Each year the summit is held in a different country and in June 2010 it was Toronto’s turn to hold the three-day event. The leaders of the 20 countries would participate in the discussion regarding financial sustainability (Lagarde 078-079). The 20 countries that would be involved are the following: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, United Kingdom and the United States of America. Also in attendance at the G20 summit would be the International Monetary fund’s (IMF) managing director, the World Bank president, and chairpersons several other international committees like the development committee and the International Monetary and financial committee (Samans, Uzan, and Lopez). Their presence is due to the close cooperation between G20 and other international organizations.

Looking at all the countries listed, it is important to note that they are all economically independent and this summit does lack the participation of third world countries. This might mean that the issues afflicting the underdeveloped countries may not be given weight in the G20 summit since there is no one to push for them, except for times when some representatives from such countries are invited, but in such cases, they may not have much of bargaining power like the representatives of the member countries (Brunswick and Evenett 269).

The main purpose of the G20 summit was to have the top 20 economically independent countries come together in hopes to legitimize economic structure around the globe, but this holds to be contradictory. The Toronto G20 summit was focusing on recovery and new beginnings as its theme. In this summit, issues to do with financial reform progress and the development of stimulus measures that are sustainable were discussed. Issues of bank tax and promotion of open markets world over were also debated (Dvorak). However, the following facts should be considered when referring to the Toronto G20 summit and its overall impact on enhancing better world economy. The summit was nothing more than a media frenzy that didn’t need the amount of attention that it received. This three day event cost Canada and the tax payers a billion dollars (Msnb). It was held in one of the busiest places in Canada and therefore affected the day to day activities of many people and ventures (Dvorak). One of the most important factors this essay will study is G20, like many of the other summits before it, has yet again accomplished very little as compared to the time and money spent on the event.

The G20 summit cost Canadian taxpayers a billion dollars. What was the billion dollars spent on lingered in the minds of most Canadians. Statements by the Parliamentary office demonstrated that the summit had cost Canadians 930 million dollars in safety measures only. This security operation was the most expensive in the history of Canada. Together with other hosting costs including nearly 2 million dollars for marketing and media, the total amount comes to about 1 billion dollars. When looking at these figures and those of other G20 summit meetings, it is very astonishing to see how much of the taxpayers’ money was spent on security alone and the question whether this was necessary lingers on, bearing in mind that some people in third world countries are in need of aid (Msnb).

The meeting was held in downtown Toronto, one of the busiest areas, and this affected residence, business, employees, pedestrians, transit riders, cyclists, motorists, students, those leaving town, the homeless, and lastly the tourist (Dvorak). One of the biggest tourist attractions, The CN tower, was closed for the summit. Although this attraction was only closed for a 3 days, it would negatively impact on Canada’s economy as it is a daily income generating site (Gothamist). The summit was rocked by widespread protests which stated several days prior to the summit. These protests were part of the reason for the expenses incurred on security measures. They also served to worsen an already bad situation for day to day activities for residents and business ventures as more than 900 people were arrested within a week, some streets were closed down and some buildings attacked. This further heightened the economic burden that came with hosting the G20 summit (Dvorak).

What comes out of this summit? Twenty large economies came together, for a three day affair, but one must essentially wonder what changes were made in previous summits and this past G20 summit. The G20 summit held in Toronto came to the conclusion that these represented economies should keep more financial capital in their banks in case of economic upsets in the future. The developed nations’ leaders also agreed on debt-to-GDP ratio reduction by the year 2016 as well as taxing financial institutions. The need for the capital reserve was to have restrictions on many of the countries that did not have them in place already, which resulted in the recession of 2009. The United States, which did not hold any restrictions on their banks, resulted in many banks as well as economy to go downhill (Lagande, 078-079).

Although it is apparent that this meeting was needed, one may ask: was the cost worth it? The 20 countries that did participate in the summit are already economically independent, which is one of the reasons protesters feel that the G20 summit is a waste of time and money (Brusick and Evenett 269). The issues that the third world countries are mostly concerned with, namely food security and climate change did not get a significant resolution during this summit. It is due to this that Protestors believe that the summit is only helping the economically successful countries gain more success instead of helping the third world countries that need the help (Brusick and Evenett 269). The results were the enduring cycle of the wealthy getting wealthier as well as the underprivileged getting more pitiable. At the end of the meeting, joblessness remains a challenge to those in underdeveloped countries and due to this they continue to suffer in poverty (Coats, Hutton and razarelli).

It is tradition to do these summits in person as seen in the G20 summit and many of the previous summits, but with the changing economy and technology it would be more efficient to have such summits in another manner which would cut cost especially in security, infrastructure, travel and accommodation. This would also make sure that the day to day activities of hosting countries, including businesses and other income generating ventures like tourism are not interfered with (Dvorak). The media has a large part in the amount of security that is needed in such political events. If the summit had been done in other technological means without attracting the attention of protestors little or no security would be needed. The destructive effects of protests, both to the economy and security of the country, would be avoided (Gothamist). With society changing and technology advancing 20 people don’t have to be in the same place at the same time to discuss world matters. This would also protect against excessive media coverage of a highly political event. The net effect would be a significant cut in the cost of holding the G20 summit. The saved finances would then be focused on other issues like provision of basic needs to those who lack them.

Since the summit was held in Toronto, there have been 94 protectionist measures implemented by the G20 member governments, with just 44 of similar measures being implemented by the rest of the world (Evenett 22). The world over, there has been 100 neutral measures formulated and implemented since June 2010, with G20 member countries implementing only 29% of these (Evenett 22). This shows a serious mismatch between what the G20 summit concludes and the action taken by the member countries. If this is the trend, is there a need to spend so much money on G20 summit to make resolutions that will not be followed by those making them? This question needs to be answered for the need for and the importance of the G20 summit to be ascertained.

It is clear that governments which are not members of the G20 summit are better at keeping markets open than those who made the resolution to do so in Toronto. There is a great mismatch between word and action of the developed countries. The same governments that spoke of their desire to promote development by encouraging trade between them and the third world countries are instead harming these poor countries through their protectionist measures (Evenett 22). The G20 members are ranked top among countries that have caused economic harm to their lesser trading partners (Evenett 23).

The following table shows the biggest targets of discriminatory measures at different times before and after the summit (Evenett 25).

Table 1: Highest targets of discriminatory measures

The table below shows by rank the countries that have inflicted the most harm to others. It shows that the economically stable countries of the G20 are in the forefront of inflicting harm to their trading partners (Evenett 26).

Table 2: Rank of countries inflicting the most harm

As seen in the G20 meetings in Washington and London, the member countries showed that they can act together on serious issues affecting them, like the financial recession. The nations demonstrated their willingness to engage in any actions necessary in a bid to stabilize their financial systems (Blustein and Prasad). Such actions included nationalization of banks and creation of insurance schemes that would help clear toxic debts as well as availing bail-outs. There was also reduction of interest rates as a policy measure to boost the economic recovery process. These economic heavy weights encouraged support of their development agenda by the World Bank through its new infrastructure as well as trade finance facilities (Lagande 078-079). They also resolved to strengthen regulatory regimes as they did for financial markets in a bid to prevent further economic crises. During the Washington G20 meeting, the member countries stressed the importance of assisting the poorest countries in the world to develop. Emerging economies would also be helped to get finances through the IMF and development banks. The intent to help the poor countries seems noble and would momentarily bring an illusion of relief to these countries, but the developed countries just stressed the importance of helping them with no commitment or plans of doing so being drawn (Brusick and Evenett).

From these summits, it is clear that the developed countries can act in haste when matters affecting them directly arise and they defend their interests with whatever action that is necessary. It cannot be expected that they react with the same zest when there are issues affecting the poor countries, but at least including the in the membership of the G20 would give them a forum to push for consideration of those problems afflicting them (Brusick and Evenett).

The financial stability board (FSB) came up as a result of re-establishment of what was formerly known as the Financial Stability Forum (FSF) during the G20 meeting in London. It was mandated with the task of promoting financial stability among the G20 member countries, but its coverage extends to cover the European commission and Spain. The FSB monitors and advises the member countries on issues to do with market development, highlighting the possible effects on regulatory policy. It undertakes strategic reviews of the work on policy development done by standard setting institutions in an effort to ensure timely and coordinated focus on priorities that cover financial gaps (Samans, Uzan and Lopez). It also comes up with guidelines and support for supervisory colleges’ establishment and operation by identifying the most important and systemically appropriate cross-border firms. It then coordinates planning to manage cross-border crisis with reference to the identified important cross-border firms. In conjunction with the IMF, the FSB identifies early warning signs of financial risks and recommends actions that can be used to deal with the threat.

The FSB is therefore concerned about the financial welfare of the G20 member countries which, as earlier indicated, comprise of the world’s greatest economies and upcoming promising economies. This further proves the theory earlier generated that the process adopted by the G20 seeks to safeguard the rich and make them richer while the poor remain in poverty. The developing countries could benefit significantly from the services of the FSB in helping them from their financial difficulties through strategic planning (Brusick and Evenett).

From the text presented in this paper, it can be concluded that the G20 summit is necessary for handling the economic and governance issues of the member countries. The summit provides a forum in which matters of global importance are discussed and solutions formulated. It also works hand in hand with other global organizations like the World Bank and the IMF to facilitate solutions to various challenges. Through the FSB, it helps identify economic warnings early enough for preventive measures to be put in place. Therefore, the importance of the G20 summit cannot be underestimated (Blustein and Prasad).

However, the G20 summit has its blemish on different areas. First, its organization and operation of meetings is too expensive, as seen in the 2010 Toronto summit in which approximately 1 billion dollars was used, most of it going to security. This leaves the desire for a way to change how these summits are done in a bid to cut the costs and direct the funds to other areas which are more critical, like helping poor countries develop (Brusick and Evenett).

It is apparent that the G20 summit does not concentrate on issues that do not affect the member countries directly as much as they concentrate on those issues directly affecting them. Since the membership of the G20 does not include poor third world countries, this means that issues affecting them are not given weight for them to be attended to well and solutions found (Brusick and Evenett).

The G20 summit continues to use a lot of money on issues like organising meetings while the poor countries of the world suffer in poverty. Though the G20 is necessary, something should be done on its membership to involve third world countries and cut down the cost of running it (Blustein and Prasad).

Arner, Douglas, and Lotte Schou-Zibell. Asian regulatory responses to the Global Financial Crisis: Global journal of emerging market economies , 3, 1 (2011): 135- 169.

Blustein, Paul, and Eswar Prasad. Recovery or relapse: the role of the G20 in the global economy. Washington D.C: global economy and development at Brookings, 2010.

Brusick, Philippe, and Simon J. Evenett. “Should the developing countries worry about abuse of dominant power?” Wisconsin law review , 2 (2008): 269.

Coats, David, Will Hutton, and Matteo Razzanell. Tackling the global jobs crisis: Why the G20 summit matters . London: The Work Foundation, 2009.

Dunne, Timothy, Milja Kurki, and Steve Smith. International relations theories. New York: Oxford University Press, 2010.

Dvorak, Phred. “Toronto Locks Down for G-20 Summit”. The Wall Street Journal. Dow Jones and Company Inc. 2011.

Edkins, John. and Zehfuss, Michael. Global politics. London : Routledge, 2009.

Evenett , Slyst. Broken promises: a G20 summit report by global trade alert. London: centre for Economic Policy research, 2009.

Msnb . G-20 Summit: ‘$1 Billion Boondoggle?’ 2011. WEB.

Gothamist LLC . How will the G-20 affect everyone, From Cyclists and Tourists . 2011.

Lagande, Charles. “How the G20 must unite to stave off further global financial crises.” business week- New York, 4149 ( 2009): 078-079.

Samans, Richard, Marc Uzan, and Augusto López-Claros.. The international monetary system, the IMF, and the G20: a great transformation in the making? Basing stoke: Palgrave Macmillan, 2007.

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IvyPanda. (2024, April 17). G20 Summit and Global Economic Governance. https://ivypanda.com/essays/the-g20-summit/

"G20 Summit and Global Economic Governance." IvyPanda , 17 Apr. 2024, ivypanda.com/essays/the-g20-summit/.

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IvyPanda . 2024. "G20 Summit and Global Economic Governance." April 17, 2024. https://ivypanda.com/essays/the-g20-summit/.

1. IvyPanda . "G20 Summit and Global Economic Governance." April 17, 2024. https://ivypanda.com/essays/the-g20-summit/.

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IvyPanda . "G20 Summit and Global Economic Governance." April 17, 2024. https://ivypanda.com/essays/the-g20-summit/.

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Essay on G20 Summit- 100, 200, and 500 words

What if you have to write an essay on G20 Summit in school or anywhere else? Do you know what

Reported by Pankaj Bhatt

Published on 15 February 2024

What if you have to write an essay on G20 Summit in school or anywhere else? Do you know what it is and why we have the number 20 in it ? If you don’t know anything about G20 or know a little bit and want to know more and, most notably, how you can write an essay on this complicated yet exciting topic, then do read this article because we have everything for you on this page.

The G20, commonly known as The Group of Twenty, is an international platform where many nations participate and discuss the cardinal points regarding the global financial and economic agendas. Moreover, one of the main objectives of this forum is to bring together all the economies emerging with the world’s advanced economies.

Furthermore, the Group of Twenty provides a forum for International Cooperation regarding economics. The G20 group was introduced in the year 1999.

In 2023, India was the presidential candidate of the G20, which was held in September. The next edition of G20 will be held in Rio De Janeiro, Brazil. The other critical details about the G20 we have shared are in essay format. In this article, we have provided essays on the G20 summit. The essay has been divided into three sections of 500, 200 and 100 words in the forthcoming paragraphs.

500 Words Essay on G20 Summit

The Group of Twenty, also known as G20, is an international platform for economic cooperation. The G20 forum plays a crucial role in reinforcing the global architecture and the governance or administration of all the economic issues that have been doing rounds worldwide. The presidency of G20 for the year 2024 is handed over to Brazil, which will be held on 18 and 19 November 2024 in Rio De Janeiro. In 2023, the 20 summit was headed by India.

Moreover, after discussing establishing the G20 summit, the Group of Twenty was founded in 1999. It was established in the wake of the Asian Financial Crisis.G20 is a platform in which the Central Bank Governors and the Finance Ministers of many countries participate in the summit to discuss financial and economic issues worldwide.

The G20 summit is held once every year under the leadership of the presidency, which is rotated among all the participating countries. The G20 comprises 19 countries in the current situation. The participating countries are as follows Indonesia, Argentina, Canada, Australia, Japan, Mexico, South Africa, United Kingdom, Türkiye, the United States, the Republic of Korea, Australia, China,  Germany, France, Saudi Arabia, Brazil, Russia, Italy and the European Union. In terms of GDP, 85% of the world GDP is represented by the G20 members. Along with this, global trade of over 75% is also done by the G20 members. The various G20 summits held in the previous years have been stated below:

• The First Summit was held in the year 2008 and was hosted by the US in Washington.
• The Second Summit was held in April 2009 and was held in London.
• The Third Summit was held in September 2009 in Pittsburgh.
• The Fourth Summit was held in June 2010 in Toronto.
• The Fifth Summit was held in November 2010 in Seoul.
• The Sixth Summit of G20 was held in November 2011 in Cannes.
• The Seventh Summit of G20 was held in June 2012 in Mexico.

The summits mentioned above are the G20 summit held in 2012. However, after 2012 also, the G20 summit was held every year. The 2023 G20 summit will be held in India and this will be the 18th G20 summit. The 17th G20 summit was held in Bali, i.e. the G20 summit 2022.

As we have mentioned earlier, this year the G20 summit will be held in India. The theme of the G20 Summit 2023 will be ‘One Earth · One Family · One Future’ or ‘Vasudhaiva Kutumbakam’.The inspiration for the theme is the ancient Sanskrit text i.e., Maha Upanishad. The theme indicates the importance of life for every creature present on the earth. The objective of the G20 Summit 2023 is as follows:

• To discuss the policies regarding global economic stability as well as sustainable growth.
• To discuss the crisis of the climate.
• Apart from this, the G20 members are expected to discuss the recovery of many nations from the recent pandemic and the impact of the pandemic on jobs.
• Discussing the Ukraine-Russia Conflict.

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The G20 summit to be held in the year 2023 will be very important for India. The primary point of the discussion for the participating countries will be as follows.

• Economic Growth: The G20 platform is one of the biggest platforms for many developing and developed countries. From this perspective of India, it will provide India with the opportunity to get engaged with many larger and more developed economies all over the world. India will get the opportunity to attract investment into the country, and it will help the nation in its overall development along with its economic growth.
• Financial Stability: Regarding financial stability, India can gain from the discussion regarding financial stability and regulations at the G20 Summit to be held in India.
• Global Issues: The G20 summit is always considered an important platform for discussing global issues. Therefore, India can be considered a platform in which it can address various issues such as the Ukraine-Russia conflict. The G20 summit 2023 can be a game changer regarding this conflict.

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100 words essay on g20 summit.

The G20 is a forum mainly regarding economic cooperation. Since its inception and implementation, it has played an important role in strengthening world architecture. In addition to this, it has also helped in governing the major economic issues countered by the world. Furthermore, this year the G20 summit will be held in India.

The G20 summit will be from the 9th of September to the 10th of September, 2023 in New Delhi. It will be held under the presidency of India only. The theme of the G20 Summit 2023 will be ‘ One Earth. One Family. One Future’ and ‘Vasudhaiva Kutumbakam’.The G20 Summit 2023 will be important for India from many perspectives.

You can also follow the G20 India Official Twitter Page for more updates on this.

Important Links

Which Country will host the G20 Summit in 2024?

G20 Summit 2024 will be headed by Brazil.

Which country host the G20 in 2023?

India hosts the G20 summit for 2023.

When will the G20 summit be held in 2024?

It is scheduled for 18 and 19 November 2024.

Pankaj Bhatt

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Essay on G20 Summit in 100, 200, 300, 500 Words

Essay on g20 summit.

The essay on the G20 Summit is written in simple English and easy words for children and students. English essay on G20 Summit tells about G20 when it was established, and why it is special for us. Students are often asked to write essays on the G20 Summit in their schools and colleges. If you are also looking for the same, then we have given an essay on the G20 Summit in 100 – words, 200 – words, 300 – words, and 500 – words.

The G20 Summit 2023 was held in New Delhi, India. All countrymen and students should understand how important it is for our nation. Below we have given various essays on the G20 Summit, knowing which will increase your knowledge.

Short & Long Essay on G20 Summit

Essay – 100 words.

The G20 summit is an annual gathering of leaders of the European Union and the world’s 19 largest economies. The G20 was established in 1999 and serves as an important forum for global economic cooperation and shaping. During the G20 summit, the main leaders of all the countries discussed various issues including trade, economic growth, geopolitical stability, and climate change. These important forums have a significant impact on global economic and political development.

Ministers and important officials participate in the activities of the summit. When this summit ends, all the leaders of the G20 countries issue a statement to show that they are all committed to the important topics that they talked about and agreed upon during their meetings throughout the year.

Essay – 200 Words

G20 is an international forum also known as The Group of Twenty and many countries participate in it. The G20 summit discusses key points regarding the financial and economic agenda around the world. Also, one of the main objectives of this conference is to bring together all the economies that are emerging along with the advanced economies of the world.

This G20 summit i.e. Group of Twenty was established in the year 1999. This was done in the wake of the Asian financial crisis. G20 is basically an important forum that is attended by the Ministers or Finance Ministers of many countries. Hence the country participates in the G20 summit to discuss financial and economic issues.

This conference is organized every year under the leadership of the President and every year it is represented by different countries. Earlier G20 included 19 countries but by 2023 this group has 21 members and its member countries are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, and Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union, and the African Union. When it comes to GDP, 85% of world GDP is represented by G20 members and more than 75% of global trade is done by G20 members.

Essay – 300 Words

The G20 Summit is an important international gathering where central bank governors and leaders of the world’s 20 most influential economies come together to discuss matters of global economic importance. It was established in 1999. The G20 summit was conceived to facilitate discussion on policy issues related to development and international economic cooperation.

G20 member states collectively have significant economic power, representing the majority of the global population and 85% of the world’s gross domestic product (GDP).

Any country with a rapidly growing economy, and substantial population, and to protect its interests can also take advantage of this platform to address global challenges like trade, climate change, and economic stability.

Thus, this summit is not just a gathering of nations, but a gathering of economic giants that aims to promote cooperation on the scale of global economic influence.

G20 Members

Earlier G20 included 19 countries but by 2023 this group has 21 members: its member countries are as follows: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, the United States, the European Union, and the African Union.

Importance of G20 Summit

In this G20 summit, top leaders of all the countries exchange views and deliberate on policy solutions. Additionally, efforts to address various global challenges are discussed, including economic issues such as trade, recession, and investment, as well as social concerns such as inequality, poverty, and climate change.

The G20 summit is important because G20 members account for approximately 85% of the world’s gross economic output (GDP) and more than 75% of worldwide trade, as well as approximately two-thirds of the global population, making the G20 the center of international economic cooperation. Creates an important platform for.

Essay – 500 Words

Introduction

The G20 or Group of Twenty is a major forum for international cooperation that deliberates on the most important aspects of the international economic and financial agenda. These are the major advanced and emerging economies of the world which include Argentina, Australia, Brazil, Canada, China, EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK. And the USA is included. These countries together represent approximately 90% of global GDP, 80% of global trade, and two-thirds of the world’s population.

Objectives of G20

a) Promote financial regulations that reduce risks and prevent future financial crises.

b) To establish policy consistency, coordination, and sustainable development among its members to achieve global economic goals.

c) And building a new international financial architecture.

Origin and Development

The G20 was formed in response to a number of financial challenges. In the 1990s, some of the emerging economies were not adequately represented in the global economic discussion. So in December 1999, finance ministers and central bank governors of emerging countries of systemic importance met for the first time in Berlin, Germany, and held an informal dialogue on key issues for global economic stability. Since then, central bank governors and finance ministers have met annually.

Organizational Structure of G20

The formation operates without a permanent secretariat or staff, with its chair rotating annually. Their chairperson is elected from among the members and from a different regional group of countries. Their Chairman is part of a three-member management group that rotates past, present, and future.

G20 Leaders Summit

The first G20 summit was hosted by the US. The President developed a coordinated response in Washington in November 2008. In the first summit, all the leaders discussed the causes of the global economic and financial crisis and agreed to implement an action plan around it which had three main objectives, namely, (1) restoring global growth (2) international financial system strengthening and (3) reform of international financial institutions.

India and G-20

India’s participation in the G20 as a leader stems from the realization that developing economies have a significant stake in the stability of the international economy and financial system. India has been actively involved in the G20 process at both the Sherpa track and the financial track since its inception with the Prime Minister participating in all and has endeavored to ensure that the global community remains focused on the need and need to ensure an adequate flow of finance to emerging economies to meet their development. India has welcomed the inclusion of development as part of the G20 process.

The G20 or Group of Twenty, being a major forum for international cooperation, deliberates on the most important aspects of the international economic and financial agenda with the main objectives of restoring global growth, strengthening the international financial system, and reforming international financial institutions.

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Essay on Group of twenty (G20)

Essay – group of twenty (g20).

Group of twenty (G20) Essay: The group of twenty or G20 is the premier level intergovernmental forum to manage international economic actions with cooperation of all member countries. The forum plays significant role in monitoring and strengthening major economic issues all over the world. India holds the presidency for G20 forum for 20222 which will occur from December 1 2022 to November 30 2023. The theme of G20 presidency by India is confirmed as “VasudhaivaKutumbakam” or “one Earth. Our family. One future.” India is all set with its structured strategies for successful economic actions of G20. In the present essay, all the aims and work procedures of G20 will be discussed.

Members of G20:

There are total 19 members namely Australia, Argentina, brazil, china, Canada, France, Germany, Indonesia, India, south Africa, Saudi Arabia, Italy, japan. Republic of Korea, Mexico, Russia, Turkiye, united, kingdom, united states and the European union which are all members of G20. All the G20 member countries cover 85% of the global GDP, 75% of the global trade and two thirds of the world population in its various objectives. With the aim of creating better future and sustainable growth I economy all countries are working together with their active participation and shared knowledge.

Main initiatives of G20:

The G20 presidency presents the entire G20 agenda for one long year by hosting the summit first. The G20 is divided into two parts which are finance track and Sherpa track. The finance track is maintained by finance ministry, ministers and banks which the Sherpa track is regulated by Sherpa track. Sherpas from member countries also take part in Sherpa track who are personal emissaries of the leaders. During each presidency the working groups of different member countries meet to work together on accomplishing the objectives. In the Sherpa track, member countries follow the same strategy to complete the tasks as per the formulated agenda. There are also additional groups to support financial activities like civil societies, think tanks, parliamentarians, women, youth group, labour, business and researchers’ group from the G20 countries. The G20 group is supported by the Troika as it does not have a permanent secretariat and it includes the previous, present and upcoming presidency of G20. Like this time of India’s presidency the troika will be formed by India, Indonesia and Brazil together.

Planned priorities:

G20 focuses on sustainable growth and development in finance for which it constructed lifestyle for environment which give stress on green development and climate finance. The G20 programs mainly focus on accelerating inclusive and resilient growth through sustainable development goals. To grab people’s attention into technological development G20 has focused in technological transformation by digital infrastructure in public finance services. For encouraging women empowerment it has suggested women-led development in various services to present equality in all aspects and giving chances for growing among women. India initiated the presidency summit program agenda with some selective cultural initiatives like Jan Bhagidari activities, one university connecting the event with 75 educational institutions of our country, lit up 100 ASI monuments with G20 logo and colours, showed the hornbill festival of Nagaland. The famous sand artist Shri SudarshanPattnaik created an amazing G20 logo at sea beach of Puri, Orissa. Various other cultural activities, youth initiatives, performances, cite excursions were the sights and traditions which were worth viewing parts of the India presidency summit agenda.

Conclusion:

Being Indians it is proud moment for us when India is presenting the G20 presidency summit with its full agenda. In the summit program, India showcased many of its traditional and cultural events in the global platform which proved the diversity of India. All the aims and objectives of the G20 agenda are announced and discussed with member countries’ views. We are hopeful that we will get positive outcome of present G20 summit in financial section and services soon.

FAQs on Group of twenty (G20) Essay Writing:

• What is G20?

Answer. G20 is the group of 20 countries which are members of a collaborative economical functions for the betterment of global economic infrastructure.

• Which country took the presidency of G20 for 2022?

Answer. India took the responsibility of G20 summit for 2022 which will be longed till 2023.

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G20 Contribution to the 2030 Agenda

October 11, 2019.

As the world's premier forum for international economic co-operation, the G20 plays a critical role in helping to achieve the 2030 Agenda for Sustainable Development. Based on robust evidence and available data, this report examines how the G20's contributions to the global goals across key sectors are already making a difference, while also suggesting where it could go further in leading by example to support the global goals.

Collectively, G20 members account for around 85% of global gross domestic product, 75% of world trade and 80% of global carbon dioxide emissions – to name just a few areas of the G20's influence. This report, commissioned by the Government of Japan in support of its 2019 G20 Presidency, takes stock of the G20's progress to date against its Action Plan on the 2030 Agenda for Sustainable Development.

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ESSAY ON G20 Summit 2023 for Competitive Exams | Essay on G20

Essay on g20 | g20 essay | g20 essay in english.

Currently India is holding Presidency of G20 , therefore essay on G20 has become most important essay topics for all competitive exams like, UPSC, State PSC, SBI PO, IBPS PO, SIDBI, NABARD, SEBI and other banking exams descriptive papers. Here we have written an essay on G20 which will be helpful for your essay writing preparation. Lets see essay on G20 .

Essay on G20 Summit 2023

G20 Summit is an annual international gathering of leaders from the world's largest economies, representing both developed and developing nations. The summit aims to address global economic challenges, promote financial stability, and facilitate international cooperation on a wide range of issues, including trade, finance, climate change, and global health.

G20 Summit 2023 India

Presently India is holding Presidency of the G20 which is an intergovernmental forum comprising 19 countries and the European Union. The 2023 G20 summit New Delhi India is eighteenth meeting of G20 (Group of Twenty) which is being held between 9 - 10 September 2023 in Bharat Mandapam International Exhibition Convention Centre, Pragati Maidan, New Delhi.

" Vasudhaiva Kutumbakam " or "One Earth, One Family, One Future" is the theme of India's G20 Presidency which official journey was started from 1 December 2022 when India assume the G20 Presidency. G20 Summit 2023 is the first G20 summit held in India as well as in South Asia.  Download PDF of this essay:  Click Here .

What is G20?

The Group of Twenty (G20) is premier intergovernmental forum comprising 19 countries and the European Union aiming for international economic cooperation. This premier forum plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. The G20 members represent around 85% of the global GDP, more than 75% of the global trade, and approx two-thirds of the world population. Download PDF of this essay: Click Here

Members of G20

Members of The Group of Twenty (G20) are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom & United States and the European Union. 

Works of G20

G20 focuses to address major issues related to the global economy such as international financial stability, climate change mitigation and sustainable development. The G20 Summit held annually under the leadership of a rotating Presidency which steers the G20 agenda for one year and hosts the Summit.

Brief History of G20

The G20 was founded in the year 1999 with the aim to address several world economic crises. Since 2008, it has convened at least once a year under the leadership of a rotating Presidency involving each member’s head of Government or State, Finance Minister or Foreign Minister or other high ranking official. At its 2009 London Summit, G20 declared itself primary venue for international economic and financial cooperation. Presently India is holding presidency of G20.

Earlier G20 Summit 2022 was the seventeenth meeting of Group of Twenty, which was held in Nusa Dua, Bali, Indonesia on 15–16 November 2022. The next G20 Summit is scheduled to be held in Rio de Janeiro Brazil in 2024 which is the upcoming nineteenth meeting of Group of Twenty (G20).

G20 Summit 2023 India is significant event for the country. India's role as the host would provide an opportunity to showcase its economic and geopolitical importance on the world stage. It offer a platform for India to engage with other major economies to discuss and collaborate on critical global issues. The agenda of the G20 Summit typically covers a broad spectrum of topics, reflecting the interconnected nature of the global economy and the need for coordinated action among nations. These discussions can have far-reaching implications for international policies and cooperation.

Hope you liked this essay on G20 and it helped you in your exam preparation. This essay on g20 is most important for all competitive exams.

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G20 - India' Presidency

India assumed the presidency of the G20 grouping from Indonesia, on December 1, 2022, and held the post for a year. This gave India a unique opportunity to contribute to the global agenda on pressing issues of international importance. India’s presidency of the G20 ended in Dec 2023. Brazil took over the presidency from India and will hold the 2024 G20 summit at Rio de Janeiro in December.

Explore the Ultimate Guide to IAS Exam Preparation Download The E-Book Now!

Recently G20 summits started focusing not only on macro economy and trade; but also on a wide range of global issues which have an immense impact on the global economy since globalization started progressing and various issues became more intricately intertwined. Those issues included overall development, climate change and energy, health, counter-terrorism, as well as migration and refugees.

The G20 has sought to realize an inclusive and sustainable world through its contributions towards resolving these global issues.

This is an important topic for the UPSC 2024 exam .

G20 India Presidency

India’s G20 logo juxtaposes planet Earth with the lotus, India’s national flower and the theme is ‘Vasudhaiva Kutumbakam’ or ‘One Earth-One Family-One Future’

• The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue.
• The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature.
• The theme also spotlights LiFE ( Lifestyle for Environment ), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.
• For India, the G20 Presidency also marks the beginning of “Amrit Kaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.

Image Source: pmindia.gov

Significance of India’s G20 Presidency : 

• G20 is the premier forum for international economic cooperation representing around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
• The G20 Leaders’ Summit at the level of Heads of State/Government is scheduled to be held on September 9 and 10, 2023 in New Delhi.
• According to Prime Minister Modi, this term can be an opportunity for India to share its expertise with the world in areas of women empowerment, democracy and digital technologies.
• As a country with core democratic values, India can show the world that the scope of conflict can come to an end when democracy becomes a culture. This gains significance amidst the ongoing Russia-Ukraine conflict .
• India’s foreign policy is focusing on the ‘global common good’. Through its G20 leadership, India hopes to extend this principle towards finding sustainable solutions to some of the key global challenges emerging out of the interconnectedness of the world, such as climate change, new and emerging technologies, food and energy security, etc.
• This would be the first time when the Troika would consist of three developing countries and emerging economies.
• It is hoped that as a result there would be a shift in the balance of power within the G20 favouring emerging economies to have a greater share in decision-making at this grouping.
• The G-20 Presidency presents a great opportunity for India to correct the long-standing anomalies that go against developing countries, especially in the domain of agriculture and food subsidies.

Read more on India’s G20 Presidency in the Sansad TV Perspective discussion .

G20 Summit 2022 – Indonesian Presidency

The G20 summit, the group’s first post-pandemic summit, recently took place in Bali, Indonesia , in the backdrop of the Russia-Ukraine crisis and a missile attack on Poland. The article gives a brief overview of the G20, highlights of the Bali summit and the significance of India’s G20 presidency.

Key Takeaways From G20 Summit 2022

• Leaders also reaffirmed their ongoing commitment to fostering a robust and long-lasting recovery that advances and maintains universal health care.
• They hailed the World Bank’s creation of the “Pandemic Fund,” a new financial intermediary fund for pandemic prevention, preparedness, and response.
• The World Health Organization (WHO), with assistance from other international organisations, has reaffirmed the commitment of world leaders to strengthen global health governance.
• Digital Transformation & Digital Literacy
• Leaders have acknowledged the significance of digital transformation in achieving sustainable development goals.
• They pushed for further global cooperation to boost digital literacy and skills in order to maximise the benefits of the digital transformation, particularly for women, girls and those who are vulnerable.
• Climate Change: G20 leaders decided to continue their efforts to keep the rise in global temperature to 1.5 degrees Celsius, reaffirming their commitment to the temperature goal in Paris 2015 agreement on climate change.
• Food Security: The leaders praised the Black Sea grains project and pledged to take coordinated action to solve problems concerning food security.
• Focus on the Global Economy: In a departure from last year’s focus on healing the wounds left by the Covid-19 outbreak, the G20 economies agreed in their declaration to pace interest rate rises cautiously to avoid spillovers and warned of “increasing volatility” in currency fluctuations.
• Member nations issued a statement condemning Russia’s aggression in Ukraine “in the strongest terms” and calling for an immediate and complete withdrawal. 
• They also acknowledged that although the majority of members had expressed their opposition to the war in Ukraine, “there were different opinions and differing assessments of the situation and sanctions.”
• A summit of this size will be held for the first time in the nation in New Delhi on September 9 and 10, 2023.
• According to the Indian Prime Minister, India’s G20 chairmanship theme of “One Earth, One Family, One Future” will be reflected in its inclusive, ambitious, definite, and action-oriented presidency.

Challenges For G20 Countries

• Rising Geopolitical Rifts: The global economy is having trouble coping with rising geopolitical rifts like the conflict between the world’s two largest economies, the US and China, or the drop in trade between the UK and the euro area following the Brexit vote.
• Slow Down Of Major Economies: China, one of the main drivers of global economy, is currently experiencing a severe slowdown as a result of its ongoing real estate crisis.
• Expected Recession: While some of the world’s largest economies, including the US and the UK, are expected to experience a recession, others, like countries in the euro area, are more likely to experience a slowdown or even a standstill.
• Persistent High Inflation: Consistently rising inflation, which is reaching historic highs in a number of countries, has reduced purchasing power globally, slowing down economic growth.
• Impact of Russia’s Invasion of Ukraine: In addition to greatly increasing geopolitical ambiguity, Russia’s invasion of Ukraine has also significantly increased worldwide inflation. The associated Western sanctions have made the situation worse. Read in detail about the Russia-Ukraine Conflict in the linked article.
• Impact of Rising Inflation: Central banks around the world have hiked interest rates in response to the high inflation, which has further slowed down economic activity .

Indian Presidency in 2023

The G20 Presidency for 2023 will pass to India. India will take over the G20 Presidency on December 1st, 2022. 

• India will host nearly 200 meetings in 32 different sectors at various places all over the nation while it holds the G20 presidency. 
• G20 Theme : “Vasudhaiva Kutumba-Kam,” or “One Earth, One Family, One Future,” is the focus of India’s G20 Presidency.
• India will work to ensure that there is “just one world,” not a “first world or third world.”
• The G20 Theme embodies India’s efforts to realise its vision of uniting the entire world in pursuit of a common goal and a better future.

The importance of India holding the 2023 Summit is given below:

• India’s G20 Presidency is a special opportunity for India to contribute to the global agenda on urgent issues of global significance.
• The first step toward a new world order for the post-Covid age was to build an international agreement on reforming multilateral organisations like the UN.
• It is an opportunity to take on the role of Global South leader.
• The increasing importance of G20 in a world where issues like global warming, the COVID-19 pandemic and the conflict in Ukraine are pressing issues.

The purpose of establishing G20 is to create an atmosphere that supports equitable global growth and development. They bring together the most powerful economies in the world, both developed and emerging, to talk about global financial and economic stability. However, the way forward to tackle the present situation is:

• Governments must find measures to assist the vulnerable without necessarily increasing debt levels. The need to closely monitor external risks would be a major issue in this regard.
• The G20 leaders must advocate for “more open, stable, and transparent rules-based commerce” in order to alleviate the world’s supply shortages.
• Increasing the global value chains’ resilience would assist safeguard against upcoming shocks.
• Keeping the blazing inflation under control is the G-20’s top priority.
• A strong, sustained, balanced, and inclusive recovery necessitates G-20 cooperation, and this cooperation necessitates not only maintaining peace in Ukraine but also “helping prevent future division”.

The topic has a very high chance of being asked as a UPSC Prelims International Relations Question or as a Current Affairs Question as it has been in the news recently.

G20 Summit 2021 – Italian Presidency

The Italian Presidency – Italy held the Presidency of the G20 Summit 2021 since December 1st 2020. The Summit was held in Rome on October 30th and 31st 2021. 

The last G20 Summit was held on 21 and 22 November 2020 virtually (due to COVID -19 pandemic) under the presidency of Saudi Arabia. India in the g20 summit called for a ‘New Global Index’ that will be based on the following our pillars; Technology, Talent, Transparency, and Trusteeship towards the planet.

The agenda of the Italian Presidency (G20 Summit 2021) rests upon three main pillars: People, Planet, Prosperity. 

• Eradicating poverty, as mandated by the first Sustainable Development Goal (SDG) of the United Nations . Read more on Sustainable Development Goals on the linked page.
• Tackling inequality, which has been rising over the past decades and even more during COVID times.
• Building a more inclusive global society that means protecting the most vulnerable such as young people, precarious workers, small and medium enterprises; promoting women’s empowerment; ensuring universal access to education; redistributing opportunities within countries, and decreasing disparities between regions.

Aspirants can go through the following links for detailed information –

• A firm commitment to address key issues such as climate change, land degradation, biodiversity loss and the achievement of the Sustainable Development Goals enshrined in Agenda 2030.
• A transition towards renewable energies and a green recovery, with a focus on modern, “smart” cities, is essential and is among the main priorities promoted by the Italian Presidency.
• The G20 will also pave the way towards the 26th Conference of the Parties of the UNFCCC (COP26), a key milestone in the global fight against climate change, which will be co-hosted by Italy and the United Kingdom. Read in detail on the United Nations Framework Convention on Climate Change – UNFCCC on the linked page.

Check out the following links for further details –

• reducing the digital divide, promoting infrastructural developments able to guarantee universal internet access, and achieving adequate and widespread digital literacy. Read about the Digital Divide in India on the linked page.
• exploiting the full potential of the technological revolution to concretely improve the living conditions of citizens all over the world
• making health services more effective; facilitate data sharing to strengthen global pandemic preparedness and response, enhance the reach of educational activities, agile and flexible working models, a better work-life balance for both men and women; improve the efficiency of energy distribution networks, etc.

Read the information provided on the following links to prepare even better –

History of G20

When the Asian Financial Crisis of 1997-1998 ended, it was acknowledged that the participation of major emerging market countries was necessary for a discussion on the international financial system. Hence, the G7 Finance ministers agree to establish the G20 Finance Ministers and Central Bank Governors meeting in 1999.

The meeting of G20 Finance ministers and the Central Bank Governors was centred on major economic and monetary policy issues amongst major countries in the global financial system. Their aim was to promote cooperation towards achieving stable and sustainable global economic growth for the benefit of all countries.

They upgraded to the head of the state level, as a forum for leaders from major developed and emerging market countries. In September 2009, the third summit was held in Pittsburgh where the leaders designated the G20 as the “premier forum for international economic cooperation.” The summit meetings were, henceforth held semiannually until 2010 and annually from 2011 onwards.

What is G20+?

The G20 developing nations, also called G21/G23/G20+ is a bloc of developing nations which was established on August 20, 2003. It is distinct from the G20 major economies.

• The G20+ originated in September 2003 at the 5th ministerial conference of the WTO held at Cancun, Mexico.
• Its origins can be traced to the Brasilia Declaration signed by the foreign ministers of India, Brazil and South Africa on 6th June 2003.
• The declaration stated that the major economies were still practising protectionist policies especially in sectors they were less competitive in and that it was important to see to it that the trade negotiations that took place provided for the reversal of those policies.
• The G20+ is responsible for 60% of the world population, 26% of the world’s agricultural exports and 70% of its farmers.

What did India do in the G20 2019 Summit?

Upcoming g20 summits.

Also, Read| India’s relations with France and its significance for UPSC Exam

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G20 Essay Competition

Selection criteria, points to remember, gratification, terms & conditions.

• To invite students to share their ideas and visions for India’s G20 Presidency
• To create awareness and enhance knowledge about India’s G20 Presidency
• To increase understanding about India’s G20 Presidency
• To encourage young Indians to relate to different parameters of G20.
• Originality of thought and depth of knowledge
• Quality of Content, Relevance to the topic.
• Structure, articulation and writing style
• The competition is open to only Indian Citizens.
• The Essay can be submitted in either Hindi or English languages in the following categories/ age groups:
• The length of the Essay must not exceed 1500 words.
• The Essay must be typed in an A-4 size MS word document using Arial font for English and Mangal font for Hindi, having size 12 with 1.5” spacing and should be submitted in the form of PDF.
• The participants must be the same person who has written the essay. The Essay should reflect original thinking and presentation.
• The Competition is open to only Indian Citizens.
• Category: 12 - 14 years of age
• Category: 14 -16 years of age
• All entries must be submitted through the MyGov.in portal only. Entries submitted through any other medium/mode will not be considered for evaluation.
• A participant can submit only once. In case it is found that any participant has submitted more than one entry, all his/her entries will be considered as invalid.
• The entry should be original. Copied entries or plagiarized entries will not be considered under the contest. Winning entries will also be suitably publicized by the G20 Secretariat/ Ministry of External Affairs.
• There are no charges/registration fee for participation in the competition.
• The Essay must be typed in an A-4 size MS word document using Arial font for English and Mangal font for Hindi, having size 12 with 1.5” spacing. The essay must be uploaded in the PDF format.
•  Please note that the Essay must be original and should not violate any provision of the Indian Copyright Act 1957. Anyone found infringing on others’ copyright would be disqualified from the competition. G20 Secretariat/Ministry of External Affairs does not bear any responsibility for copyright violations or infringements of intellectual property carried out by the participants.
•  Mention of the Author’s name /email etc., anywhere in the body of the essay will lead to disqualification.
•  G20 Secretariat/Ministry of External Affairs reserves the right to verify original documents such as proof of age etc., before awarding the prizes.
•  Participant is to make sure that their MyGov profile is accurate and updated since G20 Secretariat/Ministry of External Affairs would be using this for further communication. This includes details such as name, photo, complete postal address, email ID and phone number. Entries with incomplete profiles would not be considered.
•  The G20 Secretariat/Ministry of External Affairs reserve all the rights and any dispute, amendments or any issue related to this competition / guidelines / evaluation criteria etc., shall be decided by the G20 Secretariat/ Ministry of External Affairs which will be final and binding.
•  G20 Secretariat/Ministry of External Affairs reserves the right to cancel or amend all or any part of the competition/guidelines/evaluation criteria etc., at any time. 
•  Any changes to the Terms and Conditions/ Technical Parameters/ Evaluation Criteria, or cancellation of the Contest, will be updated / posted on the MyGov platform. It would be the responsibility of the participants to keep themselves informed of any changes in the Term & Conditions/ Technical Parameters/ Evaluation Criteria stated for this Contest.
•  If any entry is found to violate the guidelines, it will be removed from the evaluation process without giving any intimation or explanation to the participant.
•  For Verification purposes original documents may be asked by G20 Secretariat/ MEA at any given point of time during the Competition process.
•  G20 Secretariat/Ministry of External Affairs shall have an exclusive, royalty-free, perpetual and irrevocable license to copy, store, edit, distribute, transmit and publish competition entries.
•  Decision of the Evaluation Committee will be final and binding on all participants.
•  Non- conformity to guidelines will lead to disqualification of the participants.

G-20 and India’s Presidency G-20 Development Working Group (DWG) meeting to be held in Mumbai from December 13 – 16, 2022 India will host over 200 meetings in over 50 cities across 32 different work streams G20 delegates and guests to get a glimpse of India's rich cultural heritage and a year-long India experience The theme of India’s G20 Presidency “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” closely ties with LiFE (Lifestyle for Environment)

: Mumbai, December 9, 2022

“India's G20 Presidency will work to promote this universal sense of one-ness. Hence our theme - 'One Earth, One Family, One Future'” – PM Narendra Modi

• Development Working Group (DWG)

The DWG meetings aims to discuss developmental issues in Developing Countries (DC), Least Developed Countries (LD) and Island Countries (Small Island Developing States/SIDS).

The DWG is a platform for G-20 member countries to come together and prioritize multilateralism, share solutions that promote growth, remap development plans and achieve the Sustainable Development Goal’s targets (SDG). The G-20 possesses the knowledge, expertise, financial resources required to reverse trajectories that have gone off track.

The DWG held in the 3rd G-20 at Bali between August 10-12, 2022, concluded with the discussion and finalization of key G-20 agreements.

These include G-20 Roadmap for Stronger Recovery and Resilience in DCs, Least Developed Countries (LDCs) and SIDs, the G- 20 principles to Scale up Blended Finance in DCs, the G-20 Ministerial Vision Statement: Multilateralism for Sustainable Development Goals( SDGs) Decade of Action and the 2022 G-20 Bali Update.

The first DWG Meeting during India’s Presidency will be held in Mumbai from December 13 -16, 2022. In these meetings, sessions on Data For Development, Role of G-20 in Advancing the 2030 Agenda, Infusing New LiFE into Green Development and Accelerating Progress on the SDGs. The delegates will enjoy cultural events that give them a unique India experience, go for a Gateway of India walk and also an excursion to Kanheri Caves on the last day.

Visit https: //www.g20.org/en/ for more information.

Also read https: //pib.gov.in/PressReleasePage.aspx?PRID=188014

December 1, 2022 is a red-letter day as India assumed the G20 Presidency from Indonesia and will convene the G20 Leaders' Summit for the first time in the country in 2023. A nation deeply committed to democracy and multilateralism, India's G20 Presidency would be a watershed moment in her history as it seeks to play an important role by finding pragmatic global solutions for the wellbeing of all, and in doing so, manifest the true spirit of 'Vasudhaiva Kutumbakam' or the 'World is One Family'.

So, what is the G20?

The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries - Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States and the 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.

The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues. It 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, was designated the “premier forum for international economic cooperation”. 

What is the G20 Summit?

The G20 Summit is held annually, under the leadership of a rotating Presidency. 

How does the G20 work?

The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track . Finance Ministers and Central Bank Governors lead the Finance Track, while Sherpas lead the Sherpa Track.

The Finance Track is led by Finance Ministers and Central Bank Governors of the member countries. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organisations participate.

The G20 process from the Sherpa Track is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. The Sherpa Track oversees inputs from 13 Working Groups, 2 Initiatives – Research Innovation Initiative Gathering (RIIG) and G20 Empower , and various Engagement Groups , all of whom meet throughout the year and develop their Issue Notes and Outcome Documents in parallel. These substantive discussions then feed consensus-based recommendations to the Sherpa Meetings. The outcome document of the Sherpa-level meetings eventually forms the basis of the Leaders' Declaration, which will be debated and signed (after and if consensus is reached) at the final New Delhi Summit in September next year by the Leaders of all G20 member countries.

In addition, there are Engagement Groups which bring together civil societies, parliamentarians, think tanks, women, youth, labour, businesses and researchers of the G20 countries . The Startup20 Engagement Group will be established under India's G20 Presidency for the first time, recognising the role of startups in driving innovation that responds to a rapidly changing global scenario . Active consultation with the Engagement Groups forms an integral part of India's "inclusive ambitious, decisive, and action-oriented", G20 approach, as outlined by Prime Minister Narendra Modi in the Bali Summit this year.

India’s G -20 Presidency 

India holds the Presidency of the G20 from December 1, 2022 to November 30, 2023. The 43 Heads of Delegations- the largest ever in G20-will be participating in the final New Delhi Summit in September next year.

The G20 Logo draws inspiration from the vibrant colours of India’s national flag – saffron, white and green, and blue. It juxtaposes planet Earth with the lotus, India’s national flower that reflects growth amid challenges. The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature. Below the G20 logo is “Bharat”, written in the Devanagari script.

The theme of India’s G20 Presidency - “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” - is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life – human, animal, plant, and microorganisms – and their interconnectedness on the planet Earth and in the wider universe. The theme also spotlights LiFE (Lifestyle for Environment), with its associated, environmentally sustainable and responsible choices, both at the level of individual lifestyles as well as national development, leading to globally transformative actions resulting in a cleaner, greener and bluer future.

For India, the G20 Presidency also marks the beginning of “Amritkaal”, the 25-year period beginning from the 75th anniversary of its independence on 15 August 2022, leading up to the centenary of its independence, towards a futuristic, prosperous, inclusive and developed society, distinguished by a human-centric approach at its core.

A new working group on Disaster Risk Reduction will be established under India's Presidency to encourage collective work by the G20, undertake multi-disciplinary research and exchange best practices on disaster risk reduction.

India’s special invitee guest countries are Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE.

G-20’s invited international organisations are UN, IMF, World Bank, WHO, WTO, ILO, FSB, OECD, AU Chair, NEPAD Chair, ASEAN Chair, ADB, ISA and CDRI.

G20 meetings will not be limited only to New Delhi or other metropolises. Drawing inspiration from its G20 Presidency theme of "Vasudhaiva Kutumbakam'-"One Earth One Family One Future, as well as the Prime Minister's vision of an 'all of government" approach, India will host over 200 meetings in over 50 cities across 32 different workstreams, and would have the opportunity to offer G20 delegates and guests a glimpse of India's rich cultural heritage and provide them with a unique Indian experience. The Presidency is also a chance for the G20 Secretariat to provide the country's citizens with the unique opportunity be a part of India's G20 story.

The Indian G20 presidency has also planned a year-long India Experience' for G20 member countries, special invitees, and others.

What are India's G20 Priorities?

• Green Development, Climate Finance & LiFE

The opportunity to lead G20 comes at a time of compounding existential threat, with the COVID-19 pandemic having exposed the fragilities of our systems under the cascading impacts of climate change. In this regard, climate change is a key priority for India’s presidential Presidency , with a particular focus towards not only climate finance and technology, but also ensuring just energy transitions for developing nations across the world.

Understanding that the issue of climate change cuts across industry, society, and sectors, India offers the world LiFE (Lifestyle for Environment) -a behaviour-based movement that draws from our nation's rich, ancient sustainable traditions to nudge consumers, and in-turn markets, to adopt environmentally-conscious practices. This ties closely with India’s G20 theme: 'Vasudhaiva Kutumbakam' or 'One Earth. One Family. One Future.

• Accelerated, Inclusive & Resilient Growth 

A n accelerated, resilient and inclusive growth is a cornerstone for sustainable development. During its G20 Presidency, India aims to focus on areas that have the potential to bring structural transformation. This includes an ambition to accelerate integration of MSMEs in global trade, bring in the spirit of trade for growth, promote labour rights and secure labour welfare, address global skills gap, and build inclusive agricultural value chains and food systems etc.

• Accelerating progress on SDGs

I ndia's G20 Presidency collides with the crucial midpoint of the 2030 Agenda. As such, India acknowledges the detrimental impact of COVID-19, which changed the current decade of action into a decade of recovery. In line with this perspective, India wants to focus on recommitting G20's efforts to achieving the targets laid out in the 2030 Agenda for Sustainable Development

• Technological Transformation & Digital Public Infrastructure

As G20 Presidency, India can foreground its belief in a human-centric approach to technology, and facilitate greater knowledge-sharing in priority areas like digital public infrastructure, financial inclusion, and tech-enabled development in sectors ranging from agriculture to education

•  Multilateral Institutions for the 21 st century

India's G20 priority will be to continue pressing for reformed multilateralism that creates more accountable,inclusive just, equitable and representative multipolar international system that is fit for addressing the challenges in the 21 st century.

• Women-led development

India hopes to use the G20 forum to highlight inclusive growth and development, with women empowerment and representation being at the core of India's G20 deliberations. This includes a focus on bringing women to the fore, and in leading positions, in order to boost socio-economic development and achievement of SDGs.

India kick-started its presidency term agenda with a series of cultural initiatives that included various Jan Bhagidari activities, a special University Connect event with 75 educational institutions from across the country, the lighting up of 100 ASI monuments with the G20 logo and colours, and showcasing G20 at the Hombill festival in Nagaland. Sand artist Shri Sudarshan Pattnaik also created sand art of India's G20 logo on Puri beach in Odisha. Various other events, youth activities, cultural performances, and site excursions showcasing the sights and traditions of respective city-venues, are also planned throughout the year-long calendar.

Visit https://www.g20.org/en/ for more information.

Essay on G20 summit in 500 words

This is an essay on essay on G20 summit. Given that India is currently holding the G20 presidency, essays on the G20 have emerged as the most crucial essay subjects for all competitive exams. The examinations includes the descriptive essays for the UPSC, State PSC, SBI PO, IBPS PO, SIDBI, NABARD, SEBI, and other banking exams. Here is an essay on the G20 that you can use as practice for writing essays. See the essay on the G20.

G20 Summit 2023

Every year, leaders of the world’s leading economies, including those from developed and developing countries, assemble for the G20 Summit. The summit’s objectives are to solve the world’s economic concerns, advance financial stability. It also encourages global collaboration on a variety of topics, including as trade, finance, climate change, and international health.

Currently, India is in charge of the G20, an international organization made up of 19 nations plus the European Union. The 18th G20 (Group of Twenty) summit will take place in New Delhi, India, during September 9 and 10, 2023, at the Bharat Mandapam International Exhibition Convention Center in Pragati Maidan.

The formal journey of the “Vasudhaiva Kutumbakam” or “One Earth, One Family, One Future” theme of India’s G20 Presidency began on December 1, 2022, when India assumed the G20 Presidency. The G20 Summit in 2023 will be the first one to take place both in South Asia and India.

What is G20 ?

The Group of Twenty (G20) is a leading intergovernmental organization made up of the European Union and 19 other nations. It aims to promote global economic cooperation. This esteemed forum contributes significantly to the development and reinforcement of the global governance and architecture on all significant international economic issues. The G20 members account for almost two-thirds of the world’s population. It is more than 75% of global trade, and 85% of the world’s GDP.

G20 Members

Argentina, Australia, Brazil, Canada, China, France, Germany, Greece, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom & United States, and the European Union are all members of The Group of Twenty (G20).

OTHER ESSAYS FOR MORE READING

Function of g20.

The G20 focuses on addressing important global economic concerns such international financial stability, reducing greenhouse gas emissions, and sustainable development. Every year, a rotating Presidency, which controls the G20 agenda for a year and organizes the Summit, preside over the G20 Summit.

The G20 was established in 1999 with the intention of addressing various global economic challenges. Since 2008, it has met at least once a year under the direction of a rotating Presidency made up of the head of government or state, the finance minister, the foreign minister, or another senior official from each member country. The G20 designated itself the principal forum for global economic and financial cooperation at its 2009 summit in London. India currently holds the G20 presidency.

The seventeenth gathering of the Group of Twenty, known as the G20 Summit 2022, took place in Nusa Dua, Bali, Indonesia, on November 15–16. The next nineteenth gathering of the Group of Twenty (G20) is slated to take place in Rio de Janeiro, Brazil, in 2024.

The G20 Summit in India in 2023 will be a big deal for the nation. The chance to highlight India’s economic and geopolitical relevance on the international arena would arise from its role as host. It provides India with a forum to interact with other significant economies and work together to address important global challenges. The G20 Summit agenda often includes a wide range of themes, reflecting the interconnectedness of the world economy and the demand for coordinated action among states. The policies and cooperation of nations may be significantly impacted by these debates.

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