Secretariat for organising G20 Summit 2023, approved.
~Preet.
The Union Cabinet recently initiated the process of establishing a Secretariat to oversee the operations of organising the G20 summit in 2023. From the 1st of December 2022 until the 30th of November 2023, India will preside over the international body as its President, paving the way for the G20 summit to be held in India. The Secretariat will remain operational until February 2024. It would also enable long-term capacity building for India's leadership on global challenges at multilateral fora, including knowledge and skills. In December 2021, Indonesia will inherit the G20 Presidency.
G20 is a coalition of 19 nations and the European Union (EU), with representatives from the International Monetary Fund and the World Bank. It lacks a fixed secretariat or headquarters. The membership is made up of the world's greatest advanced and emerging nations, comprising around two-thirds of the world's population, 85 percent of global GDP, 80 percent of worldwide investment, and more than 75 percent of global commerce. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union are among its members.
Each G20 country is represented by a Sherpa, who plans, guides, and implements on behalf of the country's leader. India's current Commerce and Industry Minister serves as the country's "G20 Sherpa."
The G20's status as the leading crisis management and coordinating group was established by the Global Financial Crisis (2007-08). The United States, which presided over the G20 in 2008, upgraded the meeting of Finance Ministers and Central Bank Governors to that of Heads of State, culminating in the first G20 Summit. The Summits in Washington, DC, London, and Pittsburgh laid the groundwork for some of the greatest long-lasting global changes. Blacklisting states to combat tax evasion and avoidance, imposing stricter controls on hedge funds and rating agencies, transforming the Financial Stability Board into an effective supervisory and watchdog body for the global financial system, proposing stricter regulations for too-big-to-fail banks, forbidding members from imposing new trade barriers, and so on.
The G20 had strayed from its initial objective by the time Covid-19 hit, and the G20 had lost its concentration. The G20 redefined itself by broadening its agenda to include concerns such as climate change, employment and social security, inequality, agriculture, migration, corruption, terror funding, drug trafficking, food security and nutrition, disruptive technologies, and reaching the SDGs. Following the outbreak, G20 countries made all the appropriate pledges, but there has been little movement.
They prioritised four things at the Riyadh Summit in October 2020: battling the epidemic, securing the global economy, resolving international trade disruptions, and boosting global collaboration. The Italian Presidency in 2021 had focused on three broad, linked pillars of action — People, Planet, and Prosperity — intending to lead the worldwide response to the epidemic. Despite millions of fatalities, G20 nations have failed to provide legal support for the manufacturing of vaccines in underdeveloped countries.
As a founding member of the G20, India has used the forum to address critical issues affecting the world's most vulnerable people. However, due to the rising toll of unemployment and poverty in the home sector, it is difficult to take the lead effectively. India has set a strong example as the only country among the G20 nations that is on course to achieve its pledge in the 2015 Paris Agreement of being the only 2 degree Celsius compatible country, and is well ahead of the other G20 countries in terms of completing this goal.
Concurrently, India's leadership role in defining the success of the India-France led International Solar Alliance is widely recognised throughout the world as a watershed intervention in mobilising resources to promote renewable energy research and development. Furthermore, in the aftermath of the Covid -19 crisis, the vision of the 'Self Reliant India (Atmanirbhar Bharat)' project is intended to play a transformative role for "New India" in the global paradigm as a vital and reliable pillar of the international economy and global supply chains. India's initiative to build the Coalition for Disaster Resilient Infrastructure, which includes nine G20 countries among others, gives new dimensions of leadership in the global growth process.
G20 leaders must have great global credentials. With India taking over the Presidency in 2022, it has the potential to reestablish global trust in multilateralism. The emerging countries, together with the United States, must make fair vaccination deployment and patent waiver the G20's top priority. The G20 must improve its collaboration with international organisations such as the IMF, OECD, WHO, World Bank, and WTO, and assign the duty of progress monitoring to them.
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