PM Modi to unveil logo, theme and website of India’s G20 presidency today | India News

NEW DELHI: Prime Minister Narendra Modi is all set to unveil the logo, theme and website of India’s G20 presidency at an event in Delhi on Tuesday.
India is set to assume the presidency of the G20 from the current chair Indonesia on December 1.
Italy and Indonesia, along with India, are part of the G20 troika: past, present and incoming presidencies.
During the G20 Presidency, India will hold about 200 meetings in 32 different sectors in multiple locations across India.
The G20 Summit to be held next year would be one of the most high-profile international gatherings to be hosted by India.
What is G20
The Group of Twenty, or G20, is the premier forum for international cooperation on the most important aspects of the international economic and financial agenda. It brings together the major developed and developing economies of the world.
Collectively, the member nations represent around 90 per cent of the global gross domestic product (GDP), 80 per cent of the world’s economic output, two-thirds of global population and three-quarters of international trade.
Evolution of G20
The G20 summit was started in the year 1999 at the level of finance ministers and central bank governors. It was created in response to financial crises that was prevalent in a number of emerging economies in the 1990s.
In December 1999, the member nations met for the first time in Berlin, Germany for an informal dialogue on key issues related to global economic stability. Since then, the G20 summit has been an annual event.
G20 members
Its 19 members 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 of America.
— The European Union is also a member, represented by the rotating Council presidency and the European Central Bank. G20 finance ministers and central bank governors meet annually.
90% of GDP
The Group of Twenty represents around 90 per cent of global gross national product, 80 per cent of world trade (including EU intra-trade) and two-thirds of the world’s population.
India and G20
India has been a member of the G20 since its inception as the finance ministers forum in 1999. It has been actively involved in the preparatory process both at the sherpas track and the financial track since its inception.
(With inputs from agencies)

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