PM Modi urges people to participate in Logo Design Contest for G-20 Presidency of India

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Prime Minister Narendra Modi has urged people to participate in the logo design competition for the G-20 Presidency of India.

• He said, it is a special competition which celebrates the creativity of the youth of the country.

• The logo design competition window is open to the participants from today till 7th of next month.

• The Ministry of External Affairs has invited logo designs for the upcoming G20 Presidency of India.

• The first winner will get a prize of one lakh 50 thousand rupees and the next five best entries will receive 15 thousand rupees each.

• The logo design should include artistic expressions of colour combination and arrangement in the national tricolour.

• About G-20

• The "Group of 20" (G20) is made up of finance ministers and central bank governors from 19 countries and the European Union.

• Member  countries - Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, United Kingdom and United States of America.

• It is a major forum for international economic cooperation.

• The G20 plays a strategic role in achieving future global economic growth and prosperity.

• Origins of the G-20

• In the wake of the 1997 economic crisis, the G7 finance ministers announced the creation of a "Group of 20".

• The first official meeting of the G20 was held in Berlin in December 1999.

• G-20 leaders have met every year since 2010.

• Contribution of G -20 

• G20 member countries represent more than 80% of world GDP, 75% of international trade and 60% of the world's population.

• Presidency of G -20

• Its presidency rotates with each member country.

• India will hold the Presidency of the G-20, for the first time, from 1st December 2022 to 30 November 2023 culminating in the G-20 Summit in 2023.