G-20 SUMMIT 2023

G-20 SUMMIT 2023 | GS PAPER 2 INTERNATIONAL RELATIONS

What is the G-20?

G-20 SUMMIT 2023 A collection of twenty of the world’s largest economies formed in 1999 And It was conceived as a bloc that would bring together the most important industrialized and developing economies to discuss international economic and financial stability.

Who is G-20?

The G20 is a forum comprising nineteen countries with some of the world’s largest economies, as well as the European Union (EU). The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom (UK), and the United States. Spain is invited as a permanent guest.

The link to join the course : Online Courses

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Agenda of G-20

Former CFR fellow Stewart Patrick said the group “rescued a global financial system in free fall.”

G20 focused :

  • Policy coordination between its members in order to achieve global economic stability, sustainable growth;
  • To promote financial regulations that reduce risks and prevent future financial crises;
  • To create a new International financial architecture;
  • To promote economic stabilization and structural reforms as foundations for growth and employment;
  • Strengthening the financial system and fostering financial inclusion to promote economic growth;
  • Improving the international financial architecture in an interconnected world;
  • Enhancing food security and addressing commodity price volatility;
  • To promote sustainable development, green growth and the fight against climate change
  • A Collective vision for a sustainable and equitable ‘One Future’, together like ‘One Family’, for a healthier ‘One Earth’.
  • Reform of the World Bank and IMF

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  • Rules and regulation for crypto currency
  • Focused on food and energy security, climate change, and the economic and social impact of the Russia-Ukraine war.

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  • India’s G20 presidency
  • This is G-20
  • WE for the People

“During India’s G20 presidency, this translated into a call for human-centric progress.

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How We see G-20 :

  • Vasudhaiva kutumbkam- these two word capture a deep philosophy it means ‘the word is one family.
  • As one Earth, we are coming together to nurture our planet.
  • As one family we support each other in the pursuit of growth.
  • We move together towards the shared future -one future -which is undeniable truth in these interconnected times.
  • The post pandemic world order is very different from the world before it .there are three important changes among others
  • 1ST There is a growing realization that a shift away from a GDP centric view of the world pure human centric view is needed
  • 2ND The world is recognizing the importance of resilience and reliability in the Global supply chains.
  • 3RD There is a collective call for boosting Multilateralism through the reform of global institutions.
  • The voice of global South Summit which witnessed participation from 125 countries was one of the foremost initiatives under our Presidency.
  • It was an important exercise to get Input and ideas from the Global South.
  • Further, our Presidency has not only seen the largest ever participation from African countries but has also push for the inclusion of the African Union as a permanent member of the G20.
  • In India living in harmony with nature has been a norm since ancient times and we have been contributing our share toward climate action even in the Modern Times
  • Many countries of the Global South are at various stage of development and climate action must be complementary pursuit.
  • A mindset shift must be catalyzed by the G20. This was especially needed in the context of mainstreaming the marginalized aspirations of developing countries, the Global South and Africa.”
  • The Chennai high level principle (HLPs) for a sustainable and the resilient blue economy focus on keeping our Ocean healthy.
  • A global ecosystem for a clean and green hydrogen will emerge from her Presidency along with the green hydrogen innovation Centre.
  • Global biofuels alliance in 2015 we launched the international Solar Alliance. Now through the Global biofuel Alliance we will support the world to enable energy transition in tune with the benefit of a circular economy .Democratizing climate action is the best way to import Momentum to the moment.
  • Just as individuals make daily decision based on their long term health they can make Lifestyle decision based on the impact on the planets long term health. Just like a Yoga become a global mass movement for a Wellness we have also nudged the world with Lifestyle for sustainable environment (LiFE).
  • Due to impact of climate changes insuring food and nutritious security will be crucial.
  • Millets or Shree Anna, can help with this while also boosting climate smart agriculture.
  • India over the last few years has shown how Technology can be leveraged to narrow inequalities rather than widen them.
  • For instance the billion across the world that remain unbanked or lack digital identities can be financially included through digital public infrastructure DPI.
  • The solution we have built using our DPI have now been recognized globally .Now through the G20 we will help developing countries adept build and scale DPI to unlock the power of inclusive growth.
  • From space to sports, economy to entrepreneurship ,Indian women have taken the lead in very sectors
  • They have shifted the narrative from the development of women to women led development.
  • Our G20 presidency is working on bridging the gender digital divide reducing label force participation gap and enabling a larger rule for women in leadership and decision-making.
  • For India the G20 presidency is not merely a high level diplomatic endeavor.
  • As a mother of democracy and the model of diversity, we open the doors of the experience to the world.
  • Our G20 Presidency strive to Bridge divides, dismantle barriers and sow seeds of collaboration that nourish a world where Unity prevails or discord where sure destiny eclipses isolation.
  • “That India is the fastest growing large economy is no accident. Our simple, scalable and sustainable solutions have empowered the vulnerable and the marginalized to lead our development story. From space to sports, economy to entrepreneurship, Indian women have taken the lead in various sectors. They have shifted the narrative from the development of women to women-led development.”

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