The G20 is a group of the world’s largest economies which decides the direction and condition of the global economy. The agenda of the global economy is set during the G20 summit, which includes the world’s top 19 economies and the European Union. 85% of the world’s business is done in G20 member countries only. G20 is also called the Group of Twenty. It is an informal group of European Union and 19 countries . The G20 summit started in December 1999 from Berlin, the capital of Germany. After this it was decided that the leaders of the G20 countries would meet once a year. The G20 includes Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. This year India is working on the post of presidency of G20 countries. India recently released a list of upcoming G-20 meetings it will host as this year’s president of the group of top economies. The list includes a tourism working group meeting in Srinagar in May. The meeting will mark the first major international event in the region since August 2019, when India abrogated special status.
By hosting the meeting in Srinagar, India likely aims to highlight its rich geographic diversity. It held G-20 tourism meetings in the states of Gujarat and West Bengal earlier this year and has scheduled another in the state of Goa in June. The G20 priorities for India include inclusive justice, consistent and sustainable development, women empowerment, digital public infrastructure, technology enabled development, climate, financing, global food security and energy security, etc. The Group of Twenty (G20) is the main forum for international economic cooperation. It plays an important role in determining and strengthening the global structure and governance on all major international economic issues.
The main objectives of the G20 are to meet regularly, discuss and improve or deal with the coordination of global policy on trade, health, climate and other issues. Previous summits have also addressed the COVID-19 pandemic, the 2008 financial crisis, the Iranian nuclear programme and the Syrian civil war.
The G20 is the main forum for international economic cooperation and decision making of its members. The leaders of the G20 meet once a year, and during the year the country’s finance ministers and central bank governors discuss ways to strengthen the global economy, reform international financial institutions, improve financial regulation, and address key economic issues needed in each member country.
