Essay – Group of twenty (G20)
Group of twenty (G20) Essay: The group of twenty or G20 is the premier level intergovernmental forum to manage international economic actions with cooperation of all member countries. The forum plays significant role in monitoring and strengthening major economic issues all over the world. India holds the presidency for G20 forum for 20222 which will occur from December 1 2022 to November 30 2023. The theme of G20 presidency by India is confirmed as “VasudhaivaKutumbakam” or “one Earth. Our family. One future.” India is all set with its structured strategies for successful economic actions of G20. In the present essay, all the aims and work procedures of G20 will be discussed.
Members of G20:
There are total 19 members namely Australia, Argentina, brazil, china, Canada, France, Germany, Indonesia, India, south Africa, Saudi Arabia, Italy, japan. Republic of Korea, Mexico, Russia, Turkiye, united, kingdom, united states and the European union which are all members of G20. All the G20 member countries cover 85% of the global GDP, 75% of the global trade and two thirds of the world population in its various objectives. With the aim of creating better future and sustainable growth I economy all countries are working together with their active participation and shared knowledge.
Main initiatives of G20:
The G20 presidency presents the entire G20 agenda for one long year by hosting the summit first. The G20 is divided into two parts which are finance track and Sherpa track. The finance track is maintained by finance ministry, ministers and banks which the Sherpa track is regulated by Sherpa track. Sherpas from member countries also take part in Sherpa track who are personal emissaries of the leaders. During each presidency the working groups of different member countries meet to work together on accomplishing the objectives. In the Sherpa track, member countries follow the same strategy to complete the tasks as per the formulated agenda. There are also additional groups to support financial activities like civil societies, think tanks, parliamentarians, women, youth group, labour, business and researchers’ group from the G20 countries. The G20 group is supported by the Troika as it does not have a permanent secretariat and it includes the previous, present and upcoming presidency of G20. Like this time of India’s presidency the troika will be formed by India, Indonesia and Brazil together.
Planned priorities:
G20 focuses on sustainable growth and development in finance for which it constructed lifestyle for environment which give stress on green development and climate finance. The G20 programs mainly focus on accelerating inclusive and resilient growth through sustainable development goals. To grab people’s attention into technological development G20 has focused in technological transformation by digital infrastructure in public finance services. For encouraging women empowerment it has suggested women-led development in various services to present equality in all aspects and giving chances for growing among women. India initiated the presidency summit program agenda with some selective cultural initiatives like Jan Bhagidari activities, one university connecting the event with 75 educational institutions of our country, lit up 100 ASI monuments with G20 logo and colours, showed the hornbill festival of Nagaland. The famous sand artist Shri SudarshanPattnaik created an amazing G20 logo at sea beach of Puri, Orissa. Various other cultural activities, youth initiatives, performances, cite excursions were the sights and traditions which were worth viewing parts of the India presidency summit agenda.
Conclusion:
Being Indians it is proud moment for us when India is presenting the G20 presidency summit with its full agenda. In the summit program, India showcased many of its traditional and cultural events in the global platform which proved the diversity of India. All the aims and objectives of the G20 agenda are announced and discussed with member countries’ views. We are hopeful that we will get positive outcome of present G20 summit in financial section and services soon.
FAQs on Group of twenty (G20) Essay Writing:
- What is G20?
Answer. G20 is the group of 20 countries which are members of a collaborative economical functions for the betterment of global economic infrastructure.
- Which country took the presidency of G20 for 2022?
Answer. India took the responsibility of G20 summit for 2022 which will be longed till 2023.
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