The G20: A look at the world’s premier grouping

Under India’s presidency, the 18th G20 summit will be held on September 9-10, marking the culmination of the grouping’s year-long processes and meetings held among ministers, top civil servants and non-government participants. A look at the world’s premier grouping:

The beginnings
1999

• Formed after the Asian crisis, it started off as a forum for finance ministers and central bank governors.
• Agenda
  On agenda were economic, financial issues.

2008

• Status was elevated after the global economic and financial crisis.
• Now led by heads of governments (meeting twice a year initially and annually after 2011) to engage directly.

Main job

Stepping up economic cooperation and ensuring financial stability.

Other issues added in later years
Trade, sustainable development, health, agriculture, energy, environment, climate change.

Who runs G20

• Meets under a rotating presidency, which also hosts the summit and sets the year’s agenda
• To ensure continuity, the incumbent presidency is helped by previous & next presidency — known as the troika.
• This year it’s Indonesia, India and Brazil India’s presidency theme is “Vasudhaiva Kutumbakam” or One Earth, One Family, One Future

The Working: G20 Operation led by three groups

A. Sherpa track + 4 initiatives
Sherpas, handpicked representatives of country leaders plan their agenda and hold talks on contentious issues, and work on preparing the final summit declaration. 13 working groups come under Sherpa track.

The WGs: Agriculture, Anti Corruption, Culture, Development, Digital Economy, Disaster Risk Reduction, Education, Employment, Energy Transitions, Environment and Climate Sustainability, Health, Tourism, and Trade and Investment.

B. Finance track
Headed by FMs and central bank governors to look at broad macroeconomic issues. [Framework WG, International Financial Architecture (IFA), Infrastructure WG, Sustainable Finance WG, Global Partnership for Financial Inclusion (GPFI), Joint Finance and Health Task Force].

C. Engagement groups
Where non-government participants meet to provide inputs to their leaders. They are from various fields, and are christened Business20, Civil20, Labour20, PArliament20, Science20, SAI20, Startup20, Think20, Urban20, Women20 and Youth20. Startup 20 is India’s initiative under its presidency.