NEW DELHI, Sept 4 (Reuters) – Leaders of the world’s richest and strongest nations will attend the two-day G20 Summit in India’s capital New Delhi beginning September 9.
That is the primary time India will host such a robust group of world leaders. The capital has been adorned with decorative flowers and fountains at visitors roundabouts whereas public buildings and sidewalks have been given a contemporary coat of paint.
Safety is being supplied by anti-drone methods, cutouts of langurs to scare away monkeys and 130,000 police and para-military personnel.
WHAT IS THE G20?
The world’s 20 main nations shaped an financial grouping after the Asian monetary disaster in 1999 with the understanding that such crises might now not be contained inside a nation’s borders and required higher worldwide financial cooperation.
The bloc presently accounts for 80% of worldwide gross home manufacturing (GDP) and 75% of worldwide commerce.
Its members embody Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, the USA and the European Union.
Though solely treasury chiefs met within the preliminary years, heads of all member nations determined to fulfill yearly for a leaders’ summit put up the 2008 monetary disaster.
WHAT ARE THE KEY ISSUES THIS YEAR?
Underneath India’s year-long presidency, the bloc has centred discussions round extra loans to growing nations from multilateral establishments, reforming worldwide debt structure, laws on cryptocurrency and the impression of geopolitical uncertainties on meals and power safety.
Up to now this yr, the bloc has did not problem any joint statements as it’s deeply divided over language referring to the struggle in Ukraine.
Whereas Russia and China are in opposition to blaming Moscow for the struggle in Ukraine, Western nations together with the USA, France and Canada have sought a robust condemnation as a essential situation for a joint assertion.
SUMMIT THEME
India’s G20 theme is derived from the Sanskrit phrase “Vasudhaiva Kutumbakam” which interprets to “The World is One Household”.
WHEN AND WHERE IS THE NEXT MEETING
India will hand over the presidency to Brazil on December 1.
Compiled by Aftab Ahmed and Shivangi Acharya; Enhancing by Raju Gopalakrishnan
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