11 Interesting Facts About the G20 Summit 2023

India's presidency of the G20 marks an essential milestone in its global leadership role. Know eleven exciting facts about the G20 Summit 2023, with India hosting the presidency for the first time.

The G20 was founded in 1999 after the Asian financial crisis of 1997-98 as an informal forum for the Finance Ministers and Central Bank Governors of the most important industrialized and developing economies to discuss international economic and financial stability.

1.  About G20

In 2009, the G20 transitioned to include heads of state/government after the 2007-2008 global financial crisis, recognizing the necessity of high-level political coordination during times of crisis. 

2.  Elevation to Head of State/Government Level 

The G20 consists of 19 member countries and the European Union. The member 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, and the United States.

3.  Membership 

G20 members collectively account for 85% of global GDP, over 75% of global trade, and represent two-thirds of the world's population, making them central to the global economic landscape.

4.  Global Representation 

The G20 operates without a permanent secretariat; instead, the presidency rotates annually among members, each selected from different regional groupings, fostering diversity in leadership.

5.  Rotating Presidency  

The G20 operates on a dual-track system, comprising the Finance Track led by Finance Ministers and Central Bank Governors, and the Sherpa Track managed by personal emissaries of the Leaders. 

6.  G20's Dual-Track Structure   

India, representing Group 2, holds the G20 Presidency from December 2022 to November 2023, providing an opportunity to shape global economic discussions.

7.  Current Indian Presidency 

The 2023 G20 Summit in New Delhi was held under the theme 'Vasudhaiva Kutumbakam.' This theme, derived from ancient Indian philosophy, emphasizes the idea that the world is one family, promoting the values of unity, cooperation, and interconnectedness among nations.

8.  G20 Summit Theme   

The G20 Logo takes its colors from India's national flag and features Earth alongside the lotus, symbolizing growth amid challenges. Below the logo is "Bharat" written in the Devanagari script.

9.  G20 Summit India Logo

During its presidency, India has extended invitations to guest countries, including Bangladesh, Egypt, Mauritius, Netherland, Nigeria, Oman, Singapore, Spain, and the United Arab Emirates, promoting inclusivity and international cooperation.

10.  Invitees 

During the G20 Summit, Prime Minister Narendra Modi announced the African Union's permanent membership, recognizing Africa's economic significance and fostering global inclusivity.

11.  African Union