What you need to know about G20 summit 2023


What you need to know about G20 summit 2023

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The intergovernmental group referred to as the Group of Twenty (G20) (EU) consists of the European Union and 19 additional nations. It aims to address significant global economic issues like preserving the international financial system's integrity, reducing emissions of greenhouse gases, and encouraging sustainable development. G20 nations provided services to 85% of the world's economy, 75% of the world's trade, and 66% of the world's population. India will be in charge this time, and the G20 summit will be held in New Delhi.

The G20's primary objectives are to safeguard global financial stability and maintain sovereign debt. In order to reestablish the global financial system, the members of the G20 pledged to provide trillions of dollars to institutions involved in international finance at a conference in November 2008. The IMF and World Bank are both affected by this.

Vasudhaiva Kutumbakam, or "One Earth, One Family, One Future," is the theme for India's G20 year. It is based on Sanskrit texts and emphasizes the interconnectedness of various life forms, including humans, animals, plants, and microorganisms, as well as their significance to Earth and the universe as a whole. In 2023, India will be the location of the G20 Summit, which will be held there. On September 9 and 10, 2023, will take place the G20 Summit. Delhi will be the location.

According to the Ministry of External Affairs (MEA), there will be 250 sessions held throughout the nation, 190 of which will be attended by ministers in charge of the G20 nations' nodal ministries for trade, agriculture, health, finance, and energy. It is anticipated that 100,000 people will attend each year. In 2023, India will host over 200 events in 50 cities, with government and civil society representatives attending a significant summit in New Delhi during the G20 Summit in September.

Progressing discussions… spin around comprehensive, evenhanded and supportable development; Lifestyle for the Environment, or LiFE; ladies' strengthening; digital public infrastructure and tech-enabled growth in fields like education, agriculture, commerce, skill mapping, culture, and tourism, among others; climate change funding; round economy; food security worldwide; energy safety hydrogen in green; Resilience and risk reduction in disasters; co-development with others; combat economic robbery; and reforms on multiple fronts."

"During our Administration, India, Indonesia and Brazil would frame the carriage. The troika would include three emerging economies and developing nations for the first time, giving them a greater voice.

In conclusion, the G20 summit in 2023 is expected to be a critical event that will bring together the world's largest economies to address some of the most pressing global challenges. With a focus on people, planet, and prosperity, the summit is an opportunity for leaders to work together, share ideas, and forge new partnerships. The outcomes of the G20 summit will have far-reaching implications for the global economy, the environment, and society, and it will be interesting to see how the leaders come together to address the challenges facing the world today.

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