In its historic role as the President of the G20, India is set to host the two-day G20 Summit in New Delhi on September 9 and 10, 2023. This gathering will unite leaders and delegates from the 20 member states and organizations and guest delegates from an equal number of countries.
Notably, China’s President Xi Jinping and Russia’s Vladimir Putin have declined to attend, but the summit promises to be an event of global significance.
The G20, established after the Asian Financial Crisis 1999, serves as the premier international economic cooperation forum. It convenes annually to address pressing global economic challenges, including climate change, international trade, and development.
The G20’s power stems from its 85% share of global GDP and two-thirds of the world’s population.
India assumed the G20 presidency from Indonesia and will pass it on to Brazil. India now forms a part of the G20 Troika alongside Indonesia and Brazil, encompassing the current, past, and incoming G20 presidencies.
The G20 extends invitations to leaders from nations like Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE. Furthermore, international bodies like the UN, IMF, WHO, and others will be present, along with regional chairs and guest organizations.
Amid global complexities, the Russia-Ukraine conflict has prolonged, adversely impacting global food and energy security and supply chains. Furthermore, the Sino-US rivalry introduces complexities, featuring competing systems like China’s BRI, the US-led FOIP, and ASEAN’s AOIP.
India’s G20 presidency, themed “Vasudhaiva Kutumbakam” from December 1, 2022, to November 30, 2023, aims to tackle global challenges inclusively.
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