G20 Notes for UPSC – Ultimate G20 guide for government job aspirants

The G20, or Group of Twenty, is an international forum consisting of the 21 largest economies in the world. It was formed in 1999 as a response to a financial crisis in Asia. The latest G20 summit was held in New Delhi and received a lot of limelight from media around the globe. G20 is an important topic for those who are preparing for UPSC and other government exams.

To help out students, we are going to provide G20 notes for UPSC. These notes provide a simplified and accessible understanding of the G20, its objectives, and its significance in global governance. So, let’s dive in and explore the world of G20 together.

G20 At A Glance

G20 and its Objectives

In simple language, we can say that the G20 is a group of countries that come together to talk about important global issues. Its members are the world’s largest economies, like the United States, China, India, etc.

Here are some basic objectives of G20.

• The key objective of G20 is to discuss and address important global economic issues.
• The group tries to find new ways to boost international trade.
• Another aim of the G20 is to prevent another global financial crisis like the one in 2008.
• G20 nations also provide support and assistance to help each other grow economically and improve the living conditions of their people.
• The summits of G20 provide an opportunity for leaders to exchange ideas, share experiences, and coordinate their actions on important economic issues.

Current Members of G20

Although the name of the group is G20 it has 21 members. The latest member African Union is added in the G20’s New Delhi Summit in 2023. Here is the list of all G20 members along with their leaders in 2023.

1. Argentina – Alberto Fernández
2. Australia – Anthony Albanese
3. Brazil – Luiz Inácio Lula da Silva
4. Canada – Justin Trudeau
5. China – Xi Jinping and Li Qiang[
6. France – Emmanuel Macron
7. Germany – Olaf Scholz
8. India –  Narendra Modi
9. Indonesia – Joko Widodo
10. Italy – Giorgia Meloni
11. Japan – Fumio Kishida
12. Mexico – Andrés Manuel, and López Obrador
13. Russia – Vladimir Putin
14. Saudi Arabia – Salman bin Abdulaziz Al Saud
15. South Africa – Cyril Ramaphosa
16. South Korea – Yoon Suk-yeol
17. Turkey – Recep Tayyip Erdoğan
18. United Kingdom – Rishi Sunak
19. United States – Joe Biden
20. African Union – Azali Assoumani and Moussa Faki
21. European Union – Charles Michel and Ursula von der Leyen

History of G20

The G20 group was established in 1999 when a financial crisis in Asian countries affected the global economy. The first meeting of G20 took place on 15th and 16th December 1999 in Berlin.

Canadian Finance Minister Paul Martin was the first chairman of G20. The first meeting was hosted by German finance minister Hans Eichel.

The first G20 summit was held in Washington D.C. United States in 2008. It took place after the 2008 financial crisis. The G20 leaders met in Washington D.C. to discuss measures to stabilise the global economy and prevent further damage.

This meeting was seen as a turning point in the G20’s history. It showed the world that G20 meetings can be helpful in finding decisive action during a time of crisis.

World GK Quiz Questions and Answers

Permanent Guest Invitees in G20

Apart from leaders of member countries, heads of several organisations are also invited to G20 Summits. Check out the permanent guest invitees of G20.

• President(chairperson) of the Association of Southeast Asian Nations (ASEAN) 
• Chairperson of Financial Stability Board (FSB)
• Director General of International Labour Organization (ILO)
• Managing Director of International Monetary Fund (IMF)
• Prime Minister of Spain
• President of New Partnership for Africa’s Development (AUDA-NEPAD)
• Secretary-General of Organisation for Economic Co-operation and Development (OECD)
• Secretary-General of the United Nations (UN)
• President of World Bank Group (WBG)
• Director General of World Health Organization (WHO)
• Director General of World Trade Organization (WTO)

Important GK Questions

G20 Summits so far – 2008 to 2023

The G20 Summits have played an important role in global governance and cooperation. Here is a brief overview of the G20 Summits held so far:

G20 Summit 2023 in New Delhi

Recently India hosted its first G20 Summit in New Delhi. Here are the major outcomes of this summit.

• African Union – The African Union was granted permanent membership in the G20. This will allow greater representation and participation from African nations in global economic discussions.
• Theme – The summit was held under the theme “One Earth, One Family, One Future” or “Vasudhaiva Kutumbakam”.
• IMEC – The creation of the India – Middle East – Europe Economic Corridor (IMEC) was announced. It aims to enhance trade and connectivity between these regions and promote economic growth.
• Global Renewable Energy – There was a commitment to triple the global renewable energy capacity by 2030. This highlights the importance of transitioning to sustainable and clean energy sources to combat climate change.
• Global Biofuels Alliance (GBA) – The Global Biofuels Alliance (GBA) was also established during the G20’s New Delhi Summit. The main aim of this alliance is to promote the development and use of biofuels as a renewable energy alternative to fossil fuels.

Frequently Asked Questions