The G20 (Group of Twenty) summit is an annual international forum that brings together the leaders of the world’s 20 largest economies, including both developed and developing countries. The G20 was founded in 1999 as a response to the financial crises of the late 1990s, and its membership includes 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, and the European Union.
The main purpose of the G20 summit is to discuss and coordinate global economic policies, with the goal of promoting sustainable and inclusive growth, and addressing pressing issues such as trade, investment, energy, climate change, and international financial regulation. The G20 is also an important platform for political dialogue and cooperation among its member countries, and often serves as a venue for informal discussions on pressing global issues.
The G20 summit is typically hosted by one of its member countries, with the location rotating annually. The summit is attended by the heads of state or government of the member countries, as well as representatives from various international organizations such as the International Monetary Fund (IMF), the World Bank, and the United Nations.
Over the years, the G20 has played a significant role in shaping the global economic agenda, and has been credited with helping to stabilize the global economy following the 2008 financial crisis. However, the G20 has also faced criticism for its limited representativeness, with some arguing that it excludes many smaller, less developed countries that are also affected by global economic issues.
The theme of India’s G20 Presidency, 2023 is “Vasudhaiva Kutumbakam” / “One Earth · One Family · One Future”. It is drawn from the ancient Sanskrit text of the Maha Upanishad. Essentially, the theme affirms the value of all life i.e. human, animal, plant, and microorganisms and their interconnectedness on the planet Earth and in the wider universe.
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