India Assumes the Presidency for the G20 Summit
On the second day of the G20 summit, India took the presidency of Group of Twenty from Indonesia, which it will implement on 1st of December this year
In yesterday's release, we told you about the G20 Summit which was hosted in Indonesia on 15th & 16th of November. We told you about Prime Minister Narendra Modi’s meetings with some of the world’s most powerful leaders. You can check it out here - (ISH News link https://ish.news/yt-16-11-2022_3 )
Now, on the second day of the summit, India took the Presidency of G20 from Indonesia, which it will implement on 1st of December this year. Here is what getting the G-20 Presidency means for India.
-
The G-20 presidency comes for one year.
-
This means that over the next one year, India will host over 200 meetings that aim to secure global economic growth and security.
-
While it doesn’t come with any formal power, India, being the host, will have an influence that may allow it to turn the discussion in the directions it prefers.
-
Although this does not have a permanent secretariat and the Presidency is supported by the Troika — which means a body of three countries — which is the previous, current and the incoming presidency. During India’s presidency, the troika will comprise Indonesia, India and Brazil, respectively.
-
The next G20 Leaders' Summit is scheduled to be held on September 9 and 10 in New Delhi.
-
Moreover, India’s former foreign secretary, Harsh V Shringla, has been appointed as India’s Chief G-20 Coordinator at the secretary level. He will be responsible for overall policy decisions and arrangements.
-
Under India’s leadership, G-20 nations will look to find common ground on major challenges, which include global economic slowdown, debt crisis, COVID-induced poverty and the climate crisis.
-
Another agenda will be reforms in institutions like the World Bank, the International Monetary Fund and the World Trade Organization.
Earlier, Prime Minister Narendra Modi has unveiled the logo for India’s presidency Earth with the lotus theme “Vasudhaiva Kutumba-kam” (One Earth One Family One Future), along with the website of India’s G20 presidency. The symbol of the lotus in the G20 logo is a representation of hope at this difficult time. No matter how adverse the circumstances, the lotus still blooms. The seven petals of the lotus in the logo are also significant. They represent the seven continents. Seven is also the number of notes in the universal language of music. In music, when the seven notes come together, they create a perfect harmony. But each note has its own uniqueness. Similarly, the G20 aims to bring the world together in harmony while respecting diversity. What do you think about this? Do mention your thoughts in the comment section below.
