India will officially assume G20 Presidency from December 1, 2022 till November 30, 2023.
Each member country of the G20 Summit gets a turn to host the summit and this time the presidency has been handed over to India for the G-20 Summit 2023.
The (G-20 or Group of Twenty) is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, cognate as multinational monetary stability, climate change mitigation, and sustainable development. The G- 20 was established in 1999 in response to several world economic crises. Since 2008, it has convened at least once a year, with summits involving each member’s head of government or state, finance minister, or foreign minister, and other high-ranking officeholders at its 2009 summit, the G- 20 declared itself the primary venue for multinational remunerative and monetary cooperation. The group’s elevation has risen during the ensuing decade, and it’s recognized by annotators as exercising considerable global influence The G- 20 was adumbrated at the Cologne summit of the G- 7 in June 1999, and formally established at the G- 7 Finance Ministers’ meeting on 26 September 1999 with a first meeting on 15 – 16 December 1999 in Berlin G20 s administration big opportunity for India.
To decide which member nation gets to preside over the G- 20 leaders’ meeting for a given spell, all members, except the European Union, are assigned to one of five different groups, with all but one group having at least three members. Nations from the same continents are placed in the same group, other than Group 1 and Group 2. All countries within a group are eligible to take over the G- 20 Presidency when it’s their group’s turn. Consequently, the countries within the applicable group need to negotiate among themselves to elect the coming G- 20 President. Each time, a different G- 20 member country assumes the administration, starting from 1 December until 30 November. This system has been in place since 2010, when South Korea, which is in Group 5, held the G- 20 president.
Because Indian Prime Minister Mr. Narendra Modi won the G-20 presidency in 2023, India has a significant opportunity. Prime Minister Narendra Modi said that taking over the administration of the” important” G- 20 group of nations from coming month will give an occasion to every citizen of India to celebrate and showcase the country’s soft power and different culture to the world. He also stressed India’s capability to give results to the colourful challenges being faced by the world, especially those related to peace, concinnity, terrain, and sustainable development.
Talking about India’s role as president of G-20 Summit 2023, prime minister Narendra Modi said that India’s agenda will be inclusive, ambitious, decisive and action-oriented. The PM tweeted, “India will assume the G-20 Presidency for the coming year. Our agenda will be inclusive, ambitious, decisive and action-oriented. We will work to realise all aspects of our vision of ‘One Earth, One Family, One Future.’”
India will assume the G-20 Presidency for the coming year. Our agenda will be inclusive, ambitious, decisive and action-oriented. We will work to realise all aspects of our vision of ‘One Earth, One Family, One Future.’ pic.twitter.com/fRFFcDqpzO
— Narendra Modi (@narendramodi) November 16, 2022
In his yearly radio address, Mann Ki Baat, the PM said the country must use the occasion by fastening on global good. “The G-20 presidency has arrived as a significant event for us. “We must seize this opportunity and focus on global good and global welfare. Whether it’s peace or concinnity, perceptivity towards the India has responded to challenges related to terrain and sustainable development. The theme that has given’ One Earth, One Family, One Future’ shows our commitment to ‘vasudhaiva kutumbakam’ he said. Modi developed his theory on how the G- 20 has a cooperation comprising two- thirds of the world’s population, three- fourths of world trade, and 85 percent of world GDP. India is going to preside over this group from December 1 what a great occasion has come for India, for every Indian! This is made even more special by the fact that India was given this responsibility on the occasion of the “Azadi Ka Amrit Mahotsav” (75th anniversary of India’s independence). The PM said, In the coming days, India will host several G-20 related programmes in various parts of the country. Stating that during this period, people from different corridors of the world will visit different countries, Modi said,” l am sure that you’ll bring the different and distinctive colours of your culture to the world and you also have to flash back that the people coming to the G-20, indeed if they come now as delegates, are excursionists of the future.” PM Modi prompted scholars and youths to join events related to India’s G-presidency ship in one way or the other.
