G20 – UPSC Prelims

  • It is an international forum for the governments and central bank governors from 20 major economies.
  • Founded in 1999
  • Its aim was to review policy decisions to enhance international financial stability
  • It now deliberates on global economic issues and other important development challenges.
  • First Head of State Summit was held in 2008 (Due to Economic Crisis)
  • 20 Members ( EU + 19 Countries) :
    • Argentina,
    • Australia,
    • Brazil,
    • Canada,
    • China,
    • France,
    • Germany,
    • India,
    • Indonesia,
    • Italy,
    • Japan,
    • South Korea,
    • Mexico,
    • Russia,
    • Saudi Arabia,
    • South Africa,
    • Turkey,
    • United Kingdom and
    • United States
  • G20 economies account for around 85% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), and two-thirds of the world population.
    Secretariat: It does not have any permanent secretariat staff and its chairmanship rotates annually between nations divided into regional groupings.
  • G20 replaced G8 as the main economic council of wealthy nations.
  • Each G20 country is represented by its Sherpa, who plans, guides, implements, etc. on behalf of the leader of their respective country.
  • Commerce and Industry Minister is the current “G20 Sherpa” of India.
  • Map : (Blue : members, Pink : Guests) (Taken from Wikipedia. Not up to scale. For educational purpose only)

Latest Summit:
  • In 2021. Held in Rome, Italy.
  • Theme: “People, Planet, Prosperity”


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