G2O Summit in India: All you need to know

India is hosting the 18th meeting of the G20 in New Delhi on September 9 and 10. Here's a lowdown on the topics that are likely to be discussed and the attendees

By Samidha Jain Forbes India Staff

Published: Sep 7, 2023 09:57:41 AM IST

Updated: Sep 7, 2023 10:32:21 AM IST

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Traffic moves past a model of the G20 logo ahead of the G20 Summit in New Delhi, India on September 5, 2023. Image: Kabir Jhangiani/NurPhoto via Getty Images

Vasudhaiva Kutumbakam—One Earth, One Family, One Future is the theme of this year’s G20 Summit, scheduled to take place in Bharat Mandapam International Exhibition-Convention Centre (IECC), Pragati Maidan, New Delhi on September 9 and 10. According to the G20 website, this year’s theme “affirms the value of all life—human, animal, plant and microorganisms—and their interconnectedness on planet Earth and in the wider universe”. For the first time, the G20 Summit is being held in India as well as in South Asia.

India’s presidency for this year’s G20 Summit began on December 1, 2022; it will end on November 30, 2023. The G20 New Delhi Summit will be chaired by Prime Minister Narendra Modi, and will be attended by leaders from most powerful nations in the world.

Also read: Will India's G20 leadership bring relief from increasing exposure to climate change?

What is G20 and what are its major objectives?

The G20, or the Group of Twenty, comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States) and the European Union. As a platform for fostering international economic collaboration, it plays an important role in moulding and fortifying the global framework and administration concerning crucial worldwide economic matters. Some of its key aims include coordinating policies among its member nations to attain worldwide economic stability and sustainable growth; advocating for financial regulations aimed at mitigating risks and averting potential financial crises; and establishing a fresh international financial framework.

The 2023 G20 logo

The G20 2023 logo.

According to the Press Information Bureau, “the G20 logo draws inspiration from the vibrant colours of India’s national flag—saffron, white and green, and blue. It juxtaposes planet Earth with the lotus, India’s national flower that reflects growth amid challenges”. On the G20 logo, the word ‘Bharat’ is written in Devanagari script. While introducing the logo, Prime Minister Narendra Modi had said, “The symbol of the lotus on the G20 logo is a representation of hope in this time. No matter how adverse the circumstances are, the lotus still blooms. Even if the world is in a deep crisis, we can still progress and make the world a better place.”

Also read: G20: Are we prepared for inevitable global health crises?

Agenda for the G20 Summit

Throughout India's year-long tenure as the G20 presidency, the group has placed its primary focus on a range of critical subjects, demonstrating its commitment to addressing pressing global challenges, which include:

Expanding access to finance for developing nations
Reforming international debt frameworks
Regulating cryptocurrency
Analysing the geopolitical impact on food and energy security

Through these efforts, the G20, under India's presidency, is demonstrating its approach to tackling complex global issues, fostering cooperation among member nations, and contributing to a more stable and prosperous global economy.

Who is invited for the summit?

Besides the member nations, every year, invitations are extended to non-member countries and international organisations for participation in G20 meetings and the summit, by the president nation. This year, during India's G20 presidency, Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE have been invited as guest countries. Additionally, specific international organisations which include the International Solar Alliance, the Coalition of Disaster Resilient Infrastructure and the Asian Development Bank have also received invitations from India to participate as guest organisations, which are in addition to the regular G20 international organisations, such as the United Nations, the International Monetary Fund, the World Bank, the World Health Organization, the World Trade Organization, the International Labour Organization, the Financial Stability Board, and the Organization for Economic Cooperation and Development, which participate every year. India has extended invitations to the chairs of certain regional organisations, including the African Union, the African Union Development Agency-New Partnership for Africa’s Development, and the Association of Southeast Asian Nations.

Prominent leaders who will attend the summit

Joe Biden, US president
Sergei Lavrov, foreign minister, Russia (instead of Russian President Vladimir Putin)
Li Qiang, premier of the People's Republic of China (instead of Chinese President Xi Jinping)
Olaf Scholz, chancellor, Germany
Emmanuel Macron, president, France
Ursula von der Leyen, president, European Commission
Rishi Sunak, prime minister, UK
Justin Trudeau, prime minister, Canada
Fumio Kishida, prime minister, Japan
Giorgia Meloni, prime minister, Italy
Joko Widodo, president, Republic of Indonesia
Yoon Suk Yeol, president, South Korea
Anthony Albanese, prime minister, Australia
Recep Tayyip Erdogan, president, Turkey
Cyril Ramaphosa, president, South Africa
Luiz Inácio Lula da Silva, president, Brazil
Antonio Guterres, secretary-general, United Nations
Ajay Banga, president, World Bank
Kristalina Georgieva, managing director, International Monetary Fund
Sheikh Hasina, prime minister, Bangladesh
Bola Tinubu, president, Nigeria