Benfits of g20 summit to india

India assumed the G20 Presidency for the first time on December 1st, 2022 from Indonesia. Following which a lot of meetings have happened in the country regarding the various sectors of the government to discuss the growth and revolution for the welfare of the whole nation. 

The G20 group includes 19 countries and the European Union, with representatives of the International Monetary Fund and the World Bank.

The G20 membership comprises of the world’s largest and emerging economies, representing about two-thirds of the world’s population, 85% of global gross domestic product, 80% of global investment, over 75% of global trade and roughly half the world’s land area.

The members of the group of 20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. Spain as a permanent, non-member invitee attends all leader summits.

For the Presidency selection, all the 19 countries are divided into 5 groups, each consisting 4 countries. The presidency rotates between each group.

India belongs to the Group 2 along with Russia, South Africa and Turkey.

Benefits expected from G20 India Presidency in 2023 are as following: 

Government has launched various programmes that will help

  • Limiting climate change issues
  • Opening up gateways for renewable energy
  • Development in technological sector
  • Channelizing the sources of power generation
  • Creating a mechanism to withstand sudden challenges.
  • The G20 Presidency has provided a ripe time for India to come up as a perfect choice not only for manufacturing and assembling in the economic arena but also for being the perfect partner globally in myriad areas.
The cooperation of G20 nations can also provide new techniques and develop challenging strategies to meet the needs of even the most unpredictable times.
It ensures a significant progress towards an inclusive world society.
This will also bring a positive change in the country’s International Relations towards harmony and common vision.

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