For the first time in history, India has become the host the Group of 20 Nations (popularly known as G20). Apart from India, the G20 group comprises--Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).
What is G20, and why it is important?
The Group of Twenty (G20) is the premier forum for international economic cooperation. It plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
When was G20 founded?
The G20 was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
Who are 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, Turkiye, 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.
How the G20 works?
The G20 Presidency steers the G20 agenda for one year and hosts the Summit. India received the G20 Presidency on 1 December 2022 and now it has handed over the G20 Presidency to Brazil. Before India, Indonesia had won the G20 Presidency in 2022.
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.
G20 Summit in India: Schedule and venue details
The G20 Summit in Delhi will be held over two days, on September 9 and 10. The two-day summit will draw leaders and delegates from 40 countries, including the 20 member states. The G20 Summit is set to be hosted at the state-of-the-art Bharat Mandapam Convention Centre at Pragati Maidan.
G20 Summit--Know about train and flight cancellation, and other details:
Northern Railways has decided to cancel and divert over 200 passenger train services temporarily from September 8 to 11.
According to the schedule, over 90 train services have been cancelled on September 9. More than 100 passenger train services will be cancelled on September 10 as well. Most of these trains run from Delhi to South Haryana Sonipat-Panipat, Rohtak, Rewari, and Palwal routes.
Apart from that, the Delhi-Rewari Express Special and Rewari-Delhi Express Special trains will be cancelled on September 11.
On the other hand, the Delhi International Airport Ltd (DIAL) has received requests from airlines for cancellation of 80 departing and as many arriving domestic flights during three days from September 8 in connection with the G20 Summit.
