very proud moment for the Nation - INDIA assumes Presidency of G20

 What a historic day for the Nation !  - 75 years after Independence, INDIA is shining, becoming a leader of the Globe under Shri Narendra Modiji.

 

In a historic moment today, India formally assumed the G20 Presidency, from Indonesia.  The G20, or Group of Twenty, is an intergovernmental forum of the world’s 20 major developed and developing economies, making it the premier forum for international economic cooperation. 

                 On the occasion, Prime Minister penned an article outlining India’s vision for the G20 Presidency. This was carried by publications across the world. In his article, the Prime Minister said that India looks forward to a Presidency of healing, harmony and hope. . A key element of India’s G20 Presidency will be taking the G20 closer to the public and making it truly a ‘People’s G20’. To realize this, Citizen engagement and large scale public participation through various Jan Bhagidari activities are planned throughout the year. 

 

The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development. The G20 is composed of most of the world's largest economies, including both industrialised and developing nations; it accounts for around 80% of gross world product (GWP), more than 60%  of international trade,  two-thirds of the global population, and 60% of the world's land area. The G20 was founded in 1999 in response to several world economic crises.  Since 2008, it has convened at least once a year, with summits involving each member's head of government or state, finance minister, or foreign minister, and other high-ranking officials; the EU is represented by the European Commission and the European Central Bank. 

As of 2022, there are 20 members in the group: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, South Korea, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union. Guest invitees include, amongst others, Spain, the United Nations, the World Bank, the African Union and ASEAN. Representatives include, at the leaders' summits, the leaders of nineteen countries and of the European Union, and, at the ministerial-level meetings, the finance ministers and central bank governors of nineteen countries and of the European Union. 

It is a matter of real pride and happiness that today,  India commences its Group of 20 (G20) presidency. The previous 17 G20 presidencies delivered significant results for ensuring macroeconomic stability, rationalising international taxation and relieving the debt burden on countries, among many other outcomes. We will benefit from these achievements and build further on them, Shri Modiji said in his speech and added -: 

However, as India assumes this important mantle, I ask myself – can the G20 go further still? Can we catalyse a fundamental mindset shift to benefit humanity as a whole? I believe we can. Our mindsets are shaped by our circumstances. Through history, humanity lived in scarcity. We fought for limited resources because our survival depended on denying them to others. Confrontation and competition – between ideas, ideologies and identities – became the norm. Unfortunately, we remain trapped in the same zero-sum mindset today. We see it when countries fight over territory or resources. We see it when supplies of essential goods are weaponised. We see it when vaccines are hoarded by a few, even as billions remain vulnerable.

 

Several centrally-protected monuments, including UNESCO world heritage sites spread across the country, were lit up today marking the occasion of India becoming the President of G20. ,  ''The size of the logo projected on the monuments will depend on the nature and design of the site,'' the official said.   Among the sites   illuminated – there are -  Metcalfe Hall and Currency Building in Kolkata, Nalanda university ruins and ancient structures and other monuments at Rajgir in Bihar, Basilica of Bom Jesus and Church of Lady of Rosary in Goa,  and Sanchi Buddhist monuments and Gawlior Fort in Madhya Pradesh. 

A day to cherish and the moment of pride for the Nation.

 
With regards – S. Sampathkumar
1.12.2022