India to assume G20 Presidency for one year from December 2022

Tags: International News

As per the Ministry of External Affairs India will chair the G20 meeting for one year starting from December 1, 2022 to November 20, 2023.

IMPORTANT FACTS -

• A total of 200 G20 meetings are likely to be held under the chairmanship of India.

• The G20 Leaders' Summit at the level of Heads of State/Government is scheduled to be held in New Delhi on 9 and 10 September 2023.

India is part of the G20 Troika :

• India is currently part of the G20 Troika (current, past and upcoming G20 presidencies) which includes Indonesia, Italy and India.

• During India's Presidency, India, Indonesia and Brazil would form the troika.

• This will be the first time that the troika will include three developing countries and emerging economies, which will give them a boost.

ADDITIONAL INFORMATION -

G-20 Group :

• Group of 20 or G-20 is a multilateral organisation which was set up in 1999.

• It consists of the world's major developed and developing countries.

• It consists of 19 countries and the European Union. The member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States.

• Italy was the President of the G-20 in 2021. Indonesia is the President for 2022 and India will be the President in 2023. 

• The first Summit meeting of the leaders of the G-20 was held in 2008 at Washington, United States.

• The G20 has no permanent secretariat.

• G-20 members constitute 60% of the world population, 80% of the World economy and 75% of world trade.