• In News:
- The G20 Summit 2025 was held in Johannesburg, South Africa.
- G20 Johannesburg Leaders’ Declaration: Member countries agreed on a 122-paragraph declaration, which included references related to climate action, multilateral reforms, and equitable global governance.
- It was the first G20 Summit to be held in Africa.
- Its theme was: Solidarity, Equality, Sustainability.
• Historical Background:
- Origin: The G20 was established in 1999, following the Asian financial crisis, as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.
In the wake of the 2007 global economic and financial crisis, the G20 was elevated to the level of Heads of State/Government.
• Establishment: 1999.
• Secretariat: The group does not have a permanent secretariat.
• Objectives:
- To establish policy coordination among members for stability and sustainable development for global economic growth.
- To promote rules that prevent financial crises.
- To create a new international financial architecture.
• Members:
- The G20 is an intergovernmental forum comprising 19 sovereign states (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and the United States) and the European Union and African Union.
- Permanent guest country: Spain.
• Annual Summit:
- The G20 Summit is held annually under a rotating presidency.
- Presidency: Rotates annually.
- Troika: The presidency is supported by a Troika, consisting of the current, previous, and upcoming host countries.
The 2024 Troika consisted of India, Brazil, and South Africa.
These countries represent the Global South and are also part of IBSA, BASIC, and BRICS groups.
- 20th G20 Summit, 2025 – South Africa
- 19th G20 Summit, 2024 – Brazil
Theme: “Building a Just World and a Sustainable Planet”
- 18th G20 Summit, 2023 – India
Theme: “Vasudhaiva Kutumbakam”, meaning “The World Is One Family.”
- 21st G20 Summit, 2026 – United States.
- The first G20 Summit was held in 2008 in Washington, D.C., United States.
• Importance:
- The G20 represents approximately 85% of global GDP, 75% of global trade, and 80% of global investment. Before the inclusion of the African Union (AU), it represented about two-thirds of the world’s population.
• Conclusion: The G20 will need to evolve into a more inclusive, accountable, and action-oriented forum that truly represents the diverse needs and priorities of a rapidly changing world.