G20 Summit: What is it and what will India achieve this year

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On Friday, Prime Minister Narendar Modi will be representing India at the G20 Summit in Hamburg, Germany after concluding a historic visit in Israel. This year the theme for the international summit is ‘Shaping an interconnected world.’

In preparation for the G20 Summit, here is everything you need to know about what the G20 Summit is, what is on this year’s agenda, and what will India hope to achieve at the Summit.

What is the G20 Summit?

The G20 Summit is an annual international forum that brings together the governments and central bank governors from the 20 major economies in the world, with 1999 taken as a basis for deciding which countries are included in the grouping. The G20 includes 19 member countries, including 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 and the European Union, which represents a number of European nations as a collective. Other nations are also invited as guests to the Summit.

The member nations of the 2017 G20 Summit along with the guest nations. Image courtesy: Bundesregierung

The G20 Summit represents 80 percent of world trade, 85 percent of the gross world product, and two-thirds of the world population. With the world’s most influential economies gathering, the G20 Summit holds the potential to shape the terms of global economic activity, ranging from international trade to global development.

What is on this year’s agenda?

The two day Summit this year will focus on the central theme of ‘shaping an interconnected world’ and will include a wide range of topics. The first day will include discussions on global growth and trade and sustainable development, climate, and energy. Combating terrorism is also a key topic that will be discussed at the G20 Leaders’ retreat.

The second day will focus on partnership with Africa, migration, and health as well as digitization, women’s empowerment and employment. The world leaders will be holding closed door discussions on these four topics and will issue a joint statement at the conclusion of the Summit.

What can India hope to achieve at this year’s Summit?

India, led by PM Narendra Modi, will be looking to strengthen its position as a global economic power and will be working to sign agreements that will have an overall benefit for the nation. Key areas such as trade, development, climate, and energy have found mention during the PM’s international tours and will likely also appear during the Summit.

Additionally, India has had a successful history of partnering with Africa and will be well positioned to provide realistic objectives during the discussions regarding Africa. Women’s empowerment and employment are also key areas for the Prime Minister and his government, and PM Modi will be keen on securing international partnerships to support his government’s programs. Apart from the closed door discussions, sideline meetings with Canada, Japan, and the UK have also been confirmed.