Bharat hosted the G20 summit on September 9-10, 2023, with leaders from 19 sovereign countries and the European Union attending the event. The G20 is a group of 20 countries. It was formed in 1999 during the financial crises in Asia, with the goal of improving the global economic situation, emphasising sustainable development, promoting social harmony and international relations, supporting culture and diversity, and more.
The significance of the G20 summit can be explained in the following points:
1. Economic development: The G20 aims to improve the global economic situation, and its members account for more than 80% of the global economy and 75% of global trade. The G20 has already assisted countries by providing emergency funding during the 2008 global financial crisis.
2. Global leadership: India’s presidency of the G20 has helped to improve the country’s image around the world. India aspires to increase its influence and accountability on global policy through its G20 presidency.
3. The G20 has an emphasis on sustainable development, and its agenda includes problems like as health, climate change mitigation, the environment, and anti-corruption.
4. Social harmony: The G20 is dedicated to promoting social harmony and international relations. The G20 leaders were determined about assisting the most vulnerable and fragile countries, notably those in Africa, in their fight against the pandemic.
5. Cultural diversity: The G20 aims to nurture, celebrate, and incorporate the cultural diversity of the member states while striving towards achieving holistic living and building a pro-planet society. This can be experienced through the glimpse of the event and the theme followed.
In conclusion, the G20 summit is a significant event that brings together world leaders to address critical concerns such as the global economy, sustainable development, social harmony, and other topics. Bharat’s presidency of the G20 has helped uplift the country’s image globally.
Varsha Bind , Student
M.M.P. Shah College
S.N.D.T. University