India will host the G20 leaders’ summit next year on September 9-10. It will assume the presidency for one year — from December 1, 2022 to November 30, 2023.



The Ministry of External Affairs (MEA) announced that G20 Leaders’ Summit will be held in New Delhi on September 9 and 10 in 2023.


What is G20?

  • G-20, a group of finance ministers and central bank governors from 19 individual countries and European Union, was established in 1999.
  • G20 was elevated to a forum of Heads of State/Government in 2008 to effectively respond to the global financial crisis of 2008.
  • G-20 is a forum, not a legislative body, its agreements and decisions have no legal impact, but they do influence countries’ policies and global cooperation.


Significance of G20

  • Carries significant weight —
      • G20 members represent around 85% of global GDP, over 75% of global trade, and two-thirds of the world’s population.
      • G20 members contribute 79% of the world carbon emissions and hence this platform assumes significance in shaping the discussion on climate change.
  • Promotes Multilateralism —
      • Since 2011, the G20 summit has been held annually, under a rotating presidency.
      • The practice of rotating the chair gives all the members a chance to shape the global agenda.
  • A number of overarching themes —
      • Initially, the G20 focused on broad macroeconomic policy, but has since expanded its ambit to include trade, climate change, sustainable development, energy, environment, climate change, anti-corruption etc.
        • Eg., 2021 summit decided to stop funding coal-fired power plants in poor countries by the end of 2021.
        • It also committed to seek carbon neutrality “by or around mid-century”.
        • 2021 summit endorsed the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy.
  • United Fight against COVID-19 Pandemic —
      • In March 2020, G20 leaders pledged to inject $5 trillion into the global economy to reduce the economic impact of the coronavirus pandemic.
      • In addition to this, they also agreed to contribute to WHO’s COVID-19 Solidarity Response Fund on voluntary basis.


Key highlights

  • Multiple meetings will be held to select diverse topics for the discussion —
      • India will hold over 200 G20-related meetings across the country during its presidency of the grouping.
  • Guest countries during India’s presidency —
      • Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the UAE will be the guest countries at the event.
  • Troika of G20 —
      • India is currently part of the G20 Troika [current, previous and incoming G20 Presidencies] comprising Indonesia, Italy and India.
      • During India’s Presidency, India, Indonesia and Brazil would form the troika.
        • This would be the first time when the troika would consist of three developing countries and emerging economies.