New Delhi: India assumed the presidency of the G-20 grouping starting today. G-20 is the premier forum for international economic cooperation.
During the course of this year’s presidency, India will host 200 meetings across the nation in over 50 cities and in 32 different sectors.
To mark the occasion, 100 monuments including UNESCO world heritage sites carrying the G-20 logo will be lit up for seven days from December 1 to 7.
For next year’s Summit, India’s objectives include the supply of affordable technology for sustainable environmental development, highlighting the digital transformation of the country.
The G-20 was founded back in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
The Group of Twenty (G-20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkiye, the United Kingdom, and the United States) and the European Union. The G-20 members represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.
The group’s focusses on policy coordination between its members in order to achieve global economic stability, sustainable growth; to promote financial regulations that reduce risks and prevent future financial crises and to create a new international financial architecture.
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