Date: September 9, 2023
Location: Delhi, India
In a grand display of international cooperation, leaders from 19 prominent countries and the European Union are converging on Delhi for the two-day G20 Summit 2023, commencing on September 9th. The iconic venue, Bharat Mandapam at Pragati Maidan, has been artfully adorned with flora and festive decor, illuminated with a majestic 28-foot Nataraja statue, setting the stage for this influential gathering.
The G20, established in 1999 following the Global Financial Crisis of 1997-98, has evolved into a critical platform for addressing pressing global economic issues. This assembly of finance ministries from major economies represents an astounding 85% of global GDP, 75% of international trade, and approximately two-thirds of the world’s population.
The G20’s enduring role in shaping global economic matters remains indisputably significant. While its Leaders’ Summit has convened annually since 2008, the calendar is filled with ministerial meetings, sherpa gatherings, working groups, and special events throughout the year.
G20 Member Nations
The G20 comprises 19 individual countries and the European Union, collectively responsible for about 80% of the world’s economic output, 75% of global trade, and home to roughly two-thirds of the world’s inhabitants. Spain also holds a permanent invitation as a guest country.
Here is the list of G20 member nations:
| S.no | Country | S.no | Country |
|---|---|---|---|
| 1. | Argentina | 11. | Japan |
| 2. | Australia | 12. | Mexico |
| 3. | Brazil | 13. | Russia |
| 4. | Canada | 14. | Saudi Arabia |
| 5. | China | 15. | South Africa |
| 6. | France | 16. | South Korea |
| 7. | Germany | 17. | Turkey |
| 8. | India | 18. | United Kingdom |
| 9. | Indonesia | 19. | United States |
| 10. | Italy |
G20 Presidency
In 2023, India holds the G20 presidency, with Indonesia having presided over the G20 in 2022. Brazil and South Africa are slated to host the G20 in 2024 and 2025, respectively.
G20 Leaders and Their Designations
The G20 Leaders represent a diverse group of nations, each with its unique role in the global economic landscape. Here’s a list of the G20 Leaders and their designations:
| Country | Leader | Leader Designation |
|---|---|---|
| India | Narendra Modi (Host) | Prime Minister |
| Argentina | Alberto Fernández | President |
| Australia | Anthony Albanese | Prime Minister |
| Brazil | Luiz Inácio Lula da Silva | President |
| Canada | Justin Trudeau | Prime Minister |
| China | Xi Jinping | President |
| France | Emmanuel Macron | President |
| Germany | Olaf Scholz | Chancellor |
| Indonesia | Joko Widodo | President |
| Italy | Giorgia Meloni | Prime Minister |
| Japan | Fumio Kishida | Prime Minister |
| Mexico | Andrés Manuel López Obrador | President |
| Russia | Vladimir Putin | President |
| Saudi Arabia | Salman bin Abdulaziz Al Saud | King |
| South Africa | Cyril Ramaphosa | President |
| South Korea | Yoon Suk-yeol | President |
| Turkey | Recep Tayyip Erdoğan | President |
| United Kingdom | Rishi Sunak | Prime Minister |
| United States | Joe Biden | President |
| European Union | Ursula von der Leyen | President of the European Commission |
| European Union | Charles Michel | President of the European Council |
G20 Countries by GDP
Although the G20 doesn’t officially rank its member nations, their significance can be gauged through factors such as GDP, political influence, trade, and global impact. Here’s a snapshot of the G20 countries’ economic prowess based on GDP data:
| Position | Country | GDP (Dec/22, USD Billion) |
|---|---|---|
| 1 | United States | 25,463 |
| 2 | China | 17,963 |
| 3 | Euro Area | 14,041 |
| 4 | Japan | 4,231 |
| 5 | Germany | 4,072 |
| 6 | India | 3,385 |
| 7 | United Kingdom | 3,071 |
| 8 | France | 2,783 |
| 9 | Russia | 2,240 |
| 10 | Canada | 2,140 |
| 11 | Italy | 2,010 |
| 12 | Brazil | 1,920 |
| 13 | Australia | 1,675 |
| 14 | South Korea | 1,665 |
| 15 | Mexico | 1,414 |
| 16 | Spain | 1,398 |
| 17 | Indonesia | 1,319 |
| 18 | Saudi Arabia | 1,108 |
| 19 | Netherlands | 991 |
| 20 | Turkey | 906 |
| 21 | Switzerland | 808 |
| 22 | Argentina | 633 |
| 23 | Singapore | 467 |
| 24 | South Africa | 406 |
While these rankings are not fixed and can change over time, the G20 provides a collaborative platform for these nations to address global economic challenges, amplifying their collective influence beyond individual rankings.
G20’s Focus in 2022
The 17th G20 Summit in Bali, Indonesia, held in October 2022, under the Indonesian Presidency, emphasized three primary pillars:
- Global Health Architecture: Ensuring equitable access to COVID-19 vaccines.
- Sustainable Energy Transition: Promoting sustainable economic development and transitioning to renewable energy sources.
- Digital Transformation: Embracing the digital economy as a driver of growth and innovation.
Indonesia aimed to lead in facilitating fair vaccine access, fostering sustainable development through micro-, small-, and medium-sized enterprises (MSMEs), and embracing the digital economy.
The G20 remains a vital forum for addressing the world’s most pressing economic challenges and shaping the global economic landscape.
