India at G20 Summit 2019

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TOPIC: General Studies 2:

Eleven years after its creation, the Group of 20 (G-20) has emerged as an important forum of most of the world’s systemically important economies. Iran is among the very few important countries left out. India made its mark within the G-20 from its very inception with Prime Minister Manmohan Singh being one of the important voices at the first three summit meetings in 2008-09. As the host of the 2022 summit, India has a stake in ensuring the continued relevance of G-20 for global policy.

The G20 Summit concluded in Japan’s Osaka Saturday after two days of hectic meetings, bilateral talks and series of dialogues between leaders of top 20 economies of the world.

On the final day of the summit, 19 countries committed to the Paris climate agreement, with the US reiterating President Donald Trump’s decision to withdraw from the pact “because it disadvantages American workers and taxpayers”.

After Osaka, New Delhi will become part of the troika that includes the next of set of G20 chairs – Saudi Arabia (2020), Italy (2021) and India (2022).

Takeaways from the G20 Summit

India’s interests in the region:

With Saudi Arabia hosting the next G-20 in 2020, followed by Italy in 2021, all eyes will soon turn to the agenda India plans to highlight when it holds the G-20 summit in 2022. Many global challenges, such as climate change and its impact, the balance between the needs for speed and national security with 5G networks being introduced, as well as technology-driven terrorism, will become even more critical for the grouping, and the government must articulate its line. India should lead the exercise in making the G-20 more effective in dealing with some of the inequities in its system. The G-20 is an important platform to discuss pressing issues, and it must not be detracted from its original purpose of promoting sustainable growth and financial stability by grandstanding by one or two members.

Brief on G20

G20: The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union. It was founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability.

India: Member of G20

Other members: The G20, short for “Group of 20”, is made up of 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, plus the European Union. Spain is a permanent guest and always participates in the G20 summits.

Together, the G20 members represent –

Because the G-20 is a forum, its agreements or decisions have no legal impact, but they do influence countries’ policies and global cooperation.

Why was the G20 created?

The G20 was conceived in 1999, while the repercussions of the Asian financial crisis of 1997 still lasted. The committee’s inaugural meeting took place in Berlin in December 1999.

Note:

India will chair the G20 in 2022 for the first time; coinciding with the country’s 75th anniversary of Independence.

The G20 Troika: Every year, when a new country assumes the presidency (Argentina in 2018), it works hand in hand with the previous presidency (Germany) and the next presidency (Japan) in what is known as the troika. This ensures continuity in the group’s agenda.

Where is the G20 headquarters?

The G20 does not have permanent offices or employees. The country that presides over the group (in a year) takes care of all the organization and the logistical coordination of the meetings.

Connecting the Dots:

  1. What is mandate of G20? How does it help India to achieve its bilateral objectives? Discuss.
  2. Is G20 really what the world really needs? Or is this merely a club where leaders meet annually to issue insipid and irrelevant communiqués? Examine

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