1. The Group of Twenty (G20) comprises 19 countries
(Argentina, Australia, Brazil, Canada, China, France,
Germany, India, Indonesia, Italy, Japan, Republic of
Korea, Mexico, Russia, Saudi Arabia, South Africa,
Türkiye, United Kingdom and United States) and the
European Union. The G20 members represent around
85% of the global GDP, over 75% of the global trade, and
about two-thirds of the world population.
2. Objectives of The G20
Policy coordination between its members in order to
achieve global economic stability, sustainable growth;
To promote financial regulations that reduce risks and
prevent future financial crises; and
To create a new international financial architecture.
3. Origin and Evolution of G20
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 industrialized and Developing Nations; it accounts for around 80% of Gross
world Product (GWP),[4] 75% 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.[6] 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. Other countries, international Organization , and Nongovernmental
Organization are invited to attend the summits, some on a permanent basis.
At its 2009 Summit , the G20 declared itself the primary venue for international economic
and financial cooperation.[9] The group's stature has risen during the subsequent decade, and
it is recognized by analysts as exercising considerable global influence; it is also criticized for
its limited membership,[11] lack of enforcement powers,[12] and for the alleged undermining of
existing international institutions.[11] Summits are often met with protests, particularly by
Anti Globalization Group.
4. The Role of International Organizations in
the G20
At the invitation of each Presidency, key international organisations participate in G20 meetings to provide
substantive inputs and enrich the discussion. The OECD has acted as a strategic advisor to the G20.
The OECD participates in all G20 Working Group meetings and provides data, analytical reports and proposals
on specific topics, often jointly with other relevant international organisations.
The OECD has been working closely with the IMF on national growth strategies and the structural policy
agenda as part of the Framework for strong, sustainable and balanced growth, with the ILO on youth
employment and gender, with the World Bank, UNDP and other international organisations on development,
with the IEA on fossil fuels, and with the WTO and UNCTAD on monitoring investment and trade
protectionism.
The G20 engages in multistakeholder dialogue by means of the Engagement Groups (B20, L20, C20, T20, W20,
Y20, U20), with a view to promote broader inclusion and participation in their design of global solutions.
These groups address many areas of key relevance for the work of the G20 and the OECD alike, particularly
topics related to business, labour, youth, gender equality and urban policies, and they involve key actors, such
as the private sector, think tanks, trade unions, scientists, youth and women associations, civil society as a
whole. The OECD, in the framework of its multistakeholder cooperation, contributes in different ways to the
work of these groups, including by organising the annual high level OECD-B20-BIAC meeting, attending the
G20 Engagement Groups events and conferences, providing data and analysis to underpin their priorities.
5. G20 Works
The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20
consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers
and Central Bank Governors lead the Finance Track while Sherpas lead the Sherpa Track
after Finance Track.
The G20 process from the Sherpa side is coordinated by the Sherpas of member
countries, who are personal emissaries of the Leaders. Finance Track is led by Finance
Ministers and Central Bank Governors of the member countries. Within the two tracks,
there are thematically oriented working groups in which representatives from the
relevant ministries of the members as well as from invited/guest countries and various
international organisations participate.
The Finance Track is mainly led by the Ministry of Finance. These working groups meet
regularly throughout the term of each Presidency. The Sherpas oversee negotiations over
the course of the year, discussing agenda items for the Summit and coordinating the
substantive work of the G20.
In addition, there are Engagement Groups which bring together civil societies,
parliamentarians, think tanks, women, youth, labour, businesses and researchers of the
G20 countries.
The Group does not have a permanent secretariat. The Presidency is supported by the
Troika – previous, current and incoming Presidency. During India’s Presidency, the troika
will comprise Indonesia, India and Brazil, respectively.
6. G20 Members
The Group of Twenty (G20) comprises 19 countries
(Argentina, Australia, Brazil, Canada, China, France,
Germany, India, Indonesia, Italy, Japan, Republic of
Korea, Mexico, Russia, Saudi Arabia, South Africa,
Türkiye, United Kingdom and United States) and the
European Union.
7. Historical Perspectives of G20
Summits were held in
Washington,D.C. 2008
London,UK, 2nd April 2009
Pittsburgh, USA, 24-25 September 2009
Toronto, Canada, 26-27 June 2010
Seoul, Republic of Korea, 11-12 November 2010
Cannes, France, 3-4 November 2011
Los Cabos, México, 18-19 June 2012
Saint Petersburg, Russia, 5–6 September 2013
Brisbane, Australia,15-16 November 2014
Antalya. Türkiye, 15-16 November 2015
Hangzhou China, 4-5 September 2016
Hamburg, Germany, 7- 8 July 2017
Buenos Aires, Argentina,30 November-1 December 2018
Osaka, Japan, 28-29 June 2019
Riyadh, Saudi Arabia, 21-22 November 2020
Rome, Italy, 30-31 October 2021
Bali, Indonesia, 15 - 16 November 2022
India holds the Presidency of the G20 from 1 December 2022 to 30 November 2023
