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G-20 SUMMIT: “RECOVER TOGETHER, RECOVER STRONGER”

Vijay Gupta. Dated: 11/15/2022 11:39:07 AM

VIJAY GUPTA
Bali, Nov 14 Prime Minister Narendra Modi arrived here on Monday evening for the G20 Summit and bilateral meetings on its sidelines with key leaders attending this annual conference of the world's major economies. The two-day summit begins November 15, and will be attended by US President Joe Biden and British Prime Minister Rishi Sunak among heads from 20 countries and the European Union who make up the group. Ahead of departure, Prime Minister Narendra Modi said, “I will be visiting Bali, Indonesia on 14-16 November 2022, to participate in the 17th G20 Leaders’ Summit, to be chaired by Indonesia”. “During the Bali Summit, I will have extensive discussions with other G20 Leaders on key issues of global concern, such as reviving global growth, food & energy security, environment, health, and digital transformation. On the sidelines of the G20 Summit, I will meet with Leaders of several other participating countries, and review the progress in India’s bilateral relations with them. I look forward to addressing the Indian community in Bali at a Reception on November 15”, as per the statement issued by MEA. The summit assumes important as President of Indonesia Joko Widodo will hand over the G20 Presidency to India at the closing ceremony of the Bali Summit. India will officially assume the G20 Presidency from 1st December 2022. “I will also extend my personal invitation to G20 Members and other invitees to our G20 Summit next year”, Modi said. As per the statement issues by MEA, Modi said “During my interactions at the G20 Summit, I will highlight India’s achievements, and our unwavering commitment to collectively address global challenges. India’s G20 Presidency will be grounded in the theme “Vasudhaiva Kutumbakam” or “One Earth One Family One Future”, which underlines the message of equitable growth and shared future for all”. During the Bali Summit, G20 Leaders will deliberate extensively upon key issues of global concern under the Summit theme of "Recover Together, Recover Stronger”. Three working sessions will be held as part of the G20 Summit Agenda - food and energy security; health; and digital transformation. At the closing session of the Summit, President Widodo will symbolically hand over the G20 Presidency to Prime Minister Narendra Modi. India will formally assume the G20 Presidency from 1 December 2022. On the sidelines of the Summit, Prime Minister will hold bilateral meetings with some of his counterparts. Prime Minister will also address and interact with the Indian community in Bali.

GROUP OF 20

The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the USA and the European Union (EU). The list includes both advanced and emerging economies. Together, they account for over 80 per cent of the global Gross Domestic Product, 75 per cent of international trade and two-thirds of the world population. During the summit, the world leaders will deliberate over issues of contemporary relevance, including the state of economy, issues related to energy, environment, agriculture, health among other. The Summit is expected to produce the Leaders’ Declaration to support the acceleration of the world’s recovery," a tweet read on the official handle for the summit by the host country, Indonesia, last week. KEY POINTS nThe 17th G20 Heads of State and Government Summit will take place on November 15- 16 in Bali. nSummit will be the pinnacle of the G20 process and intense work carried out within the Ministerial Meetings, Working Groups, and Engagement Groups throughout the year. nA strategic multilateral platform connecting the world’s major developed and emerging economies. The G20 holds a strategic role in securing future global economic growth and prosperity. nTogether, the members represent more than 80 percent of world GDP, 75 percent of international trade and 60 percent of the world population. nStarting in 1999 as a meeting for the finance minister and central bank governors, the G20 has evolved into a yearly summit involving the Head of State and Government. nIn addition to that, the Sherpa meetings (in charge of carrying out negotiations and building consensus among Leaders), working groups, and special events are also organized throughout the year. nIndia will assume G20 Presidency. Last week, as Prime Minister Narendra Modi unveiled the logo, theme and website of India’s G20 presidency. nWhile lotus - ‘a symbol of national heritage - features in the India G20 logo, the country is also sending a message of - "One Earth, One Family, One Future”.