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Questions and Answers
What is the main purpose of the G20 forum?
Which country is NOT a member of the G20 forum?
What percentage of the Gross World Product (GWP) does the G20 contribute?
Apart from countries, which entity is also a member of the G20?
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What is one of the key areas in which the G20 has been active besides financial stability?
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How often have the G20 members been holding summits since the global financial crisis in 2008?
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Who is the current chair of the G20 for the year 2023?
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What is the theme of India's G20 summit in 2023?
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What do the vibrant colors used in the G20 logo represent?
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Where will the G20 Leaders’ Summit at the level of Heads of State/Government be held in 2023?
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What values does India aim to share with the world during its G20 Presidency according to Prime Minister Modi?
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What is the significance of forming the G20 Troika during India's Presidency?
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Study Notes
G20 Overview
- G20 is an intergovernmental forum consisting of 19 countries and the European Union, established in 1999.
- The member nations are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, South Korea, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union.
Key Issues and Objectives
- G20 addresses major global economic issues and works towards maintaining and improving financial stability.
- It plays an active role in mitigating climate change risks and advocates for sustainable development.
- The forum aims to secure development without compromising the needs of future generations.
Economic Significance
- G20 contributes around 80% of the Gross World Product (GWP).
- The member nations cover more than 60% of the total land area of the world.
- Two-thirds of the global population are inhabitants of G20 Member nations.
Regular Summits
- Since 2008, G20 has been conducting regular summits between Finance Ministers and Central Bank Governors to ensure the prudent working of the global financial system.
India's G20 Presidency
- India is the chair of the G20 for 2023, taking over from Indonesia.
- Prime Minister Narendra Modi is the chairman of the G20 and will lead this year's summit.
- The G20 logo reflects India's national flag colors and incorporates the lotus, India's national flower.
India's G20 Summit
- The theme of the India's G20 summit is "Vasudeva Kutumbakam" or "One Earth, One Family, One Future."
- The summit affirms the values of interconnectedness among all life on the planet earth and in the wider universe.
- The event will be held in New Delhi in September 2023.
Significance of India's G20 Presidency
- G20 represents around 85% of the global GDP, over 75% of the global trade, and about two-thirds of the world population.
- India will host around 200 meetings in 32 different sectors across multiple locations.
- The G20 Leaders' Summit will be held on September 9 and 10, 2023, in New Delhi.
- India's G20 presidency is an opportunity to share its expertise with the world in areas of women empowerment, democracy, and digital technologies.
- India's foreign policy focuses on the 'global common good' and aims to extend this principle towards finding sustainable solutions to global challenges.
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Description
Test your knowledge on the G20, an intergovernmental forum comprising 19 countries and the European Union. Learn about the member nations and the major global economic issues addressed by the G20.
