Essay on G 20 Summit in India – 1000 Words Essay with Key Points
G 20 Summit was held in India, School children may asked to write an essay on G 20 Summit in Schools or any competition. This post may help them write the essay.
Essay on G 20 Summit in India
The G20 Summit is an international forum for governments and central bank governors from 20 major economies. It was established in 1999 to discuss policy issues related to international economic cooperation and development. The G20 Summit is held annually in different member countries. The 2023 G20 Summit will be held in New Delhi, India. The theme of the G20 Summit 2023 will be ‘One Earth · One Family · One Future’ or ‘Vasudhaiva Kutumbakam’. The inspiration for the theme has been derived from the ancient Sanskrit text, Maha Upanishad. The G20 Summit is a platform where the governments and central bank governors from the 20 major economies come together to discuss the most pressing issues facing the global economy. The G20 accounts for more than 80% of world GDP, 75% of global trade, and 60% of the population of the planet. The summit focuses on various aspects such as trade, climate change, sustainable development, health, agriculture, energy, environment, and corruption. The G20 Summit is an important event that aims to address global challenges and foster international cooperation. It plays a crucial role in shaping the global economic agenda and promoting sustainable development.
What are Member Countries of G 20
The G20 is an international forum for the governments and central bank governors from 20 major economies . The member countries of the G20 are:
1. Argentina
2. Australia
3. Brazil
4. Canada
5. China
6. France
7. Germany
8. India
9. Indonesia
10. Italy
11. Japan
12. Mexico
13. Republic of Korea
14. Russia
15. Saudi Arabia
16. South Africa
17. Turkey
18. United Kingdom
19. United States
20. European Union⁵.
These countries together represent about 85% of the global GDP ,75% of global trade , and two-thirds of the world’s population. The G20 plays a crucial role in addressing major issues related to the global economy and fostering international cooperation.
How Decisions are Made in G20 ?
Decisions in the G20 are made by consensus. The G20 is not a permanent institution with a headquarters, offices, or staff. Instead, its leadership rotates on an annual basis among its members, and implementation of its agenda depends on the political will of the individual states. 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 after the Finance Track. The G20 process from the Sherpa side is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. The resolutions issued by the G20 are seen as political declarations of intent but they are not legally binding.
Who are Sherpas and What they do in G 20 ?
In the context of the G20 Summit, a Sherpa is a personal representative of the leader of a member nation. Sherpas play a critical role in negotiations, resolving conflicts, and ensuring the success of the summit. They have spent the past few days going back and forth over the precise language to be used in the G20 communique after climate change and the Ukraine war. Sherpas are career diplomats or high-ranking government officials chosen by their nations’ presidents. Each member nation at the summit is represented by one Sherpa. They organize the agenda, look for political consensus at the highest levels, and participate in a number of pre-summit meetings. Sherpas also participate in closed-door meetings, which include representatives of international organizations and officials from guest governments. They work diligently to smoothen out conflicts on various matters and prepare the leaders’ declaration or communique at the end of the summit
For example, Amitabh Kant served as India’s G20 Sherpa during the G20 Bali summit in 2022 and played a key role in forging a consensus among the member nations.
What are the Achivements of G 20 Summit in India ?
The 18th G20 Summit held in India concluded with 100% consensus around the New Delhi Declaration. The summit witnessed discussions on various issues and resulted in key outcomes that aimed to address global challenges and foster international cooperation.
Some of the key achievements of the G20 Summit under India’s presidency include:
Strong, Sustainable, Balanced, And Inclusive Growth:
Focusing on accelerating progress on sustainable development goals (SDGs) and promoting green development for a sustainable future.
Multilateral Institutions For The 21st Century:
Emphasizing the need to reform and strengthen multilateral institutions to better address global challenges.
Technological Transformation And Digital Public Infrastructure:
Recognizing the importance of technological advancements and digital infrastructure in driving economic growth and development.
International Taxation:
Addressing issues related to international taxation and promoting fair and transparent tax systems.
Gender Equality And Empowering All Women And Girls:
Implementing policies to reduce the gender gap in labor force participation and entrepreneurship, and promoting equal access to quality education for girls and women.
Financial Sector Issues:
Discussing financial sector issues and exploring ways to enhance financial stability and resilience.
Please note that the resolutions issued by the G20 are seen as political declarations of intent but they are not legally binding.
Where is next G 20 Summit ?
The next G20 Summit is scheduled to take place in Rio de Janeiro, Brazil on 18–19 November 2024. It will be the nineteenth meeting of the Group of Twenty (G20) and the first G20 summit to be held in Brazil