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G20 Presidency

“Suno gaur se duniya walon, chaahe jitna zor laga lo, sabse aage honge Hindustani!”


Prime Minister Narendra Modi has set the tone of this new leadership phase as India takes over the G20 presidency.

It is not wrong to say that this decade belongs to our country. Amidst numerous achievements in the field of space and technology, and Rishi Sunak becoming the first ever Indian-origin President of the UK, there is yet another thing to make Indians feel proud.


Not just a responsibility, but also an achievement: India takes over the G20 presidency.

India's G20 presidency commenced on December 1. Holding the Indian culture and traditions in high stride, Prime Minister Narendra Modi has set the tone of this new leadership phase focusing on the humanitarian growth of the whole world. With the theme of Vasudheva Kutumbakam or One Earth, One Family, One Future, India is ready to make the best of this opportunity.

What are G20 and its objectives?

The G20 or Group of 20 is an international platform where 20 developed and developing countries hold intergovernmental meetings for their economic development as well as overall global development. It was formed during the 1990s when the Southeast Asian economies were facing a financial crisis.

The following are a part of G20:

Australia, Argentina, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States and The European Union.


The objectives of the G20 are:

a) Policy coordination between its members to achieve global economic stability and sustainable growth;

b) To promote and focus on financial regulations that reduce risks and prevent future financial crises; and

c) To create a new and great international financial architecture.

What is the G20 Presidency?

The presidency rotates each year and the presiding country decides the theme or agenda for the year of their presidency. All the meetings are held in this country during this year.

Whom did India take the presidency from?

India took the G20 presidency from Indonesia and held it for 2022. Next, the presidency will pass to Brazil in 2024.

Now what?

Assuming such a big leadership position in the Group of 20 which includes countries like the USA, China, France, Canada, Germany, and the European Union, it is a matter of immense pride. Over the next year, all the G20 meetings will be held in various cities in India. The goal is to bring the cultural, regional, social, linguistic, and geographical diversity of the Indian subcontinent to the forefront and celebrate it.

Conclusion

The G20 presidency means India will get the chance to hold around 200 meetings in about 50 different cities all across the country. This will give us a chance as the global leaders to explore the rich cultural heritage and diversity that our country inherits. Apart from addressing financial and other issues as a matter of fulfilling the G20 objectives, this presidency will also help India in creating a strong stance on the global platform.


Did you know?

The first G20 meetings featured finance ministers and the heads of each country’s central bank. But in 2008, summits of the leaders from each member country were introduced during the global financial crisis.


Summary


It is not wrong to say that this decade belongs to our country. Amidst numerous achievements in the field of space and technology, there is yet another thing to make Indians feel proud.


Not just a responsibility, but also an achievement: India takes over the G20 presidency commencing from December 1. Holding the Indian culture and traditions in high stride, Prime Minister Narendra Modi has set the tone of this new leadership phase focusing on the humanitarian growth of the whole world. With the theme of Vasudheva Kutumbakam or One Earth, One Family, One Future, India is ready to make the best of this opportunity.


Assuming such a big leadership position in the Group of 20 which includes countries like the USA, China, France, Canada, Germany, and The European Union, it is a matter of immense pride. The goal is to bring the cultural, regional, social, linguistic, and geographical diversity of the Indian subcontinent to the forefront and celebrate it.












BY:

Harshita Kaushik

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