Group of 20 (G20) is a forum for international economic cooperation. The bloc accounts for 80% of global gross domestic production and 75% of international trade.
This year, the Indian capital New Delhi will be hosting the two-day global event on September 9 and 10. The event will be attended by world leaders like Joe Biden, Japanese PM Fumio Kishida, Canadian PM Justin Trudeau, and heads of the World Bank and IMF.
The theme of India’s G20 is "Vasudhaiva Kutumbakam" which means “The World is One Family". India will pass on the presidency to Brazil on December 1.
For safety reasons and to ensure smooth movement of traffic, Delhi Police have put in place certain restrictions and diversions. All educational institutions, banks, private offices, malls, and markets will remain closed from Sept 8 to 10.
Under India’s presidency, the bloc has centred discussions around several agendas like loans to developing nations, regulating cryptocurrency, reforming international debt architecture, and the impact of geopolitical ups and downs on food and energy.
A major challenge would be reaching a consensus and issuing a joint communique on the Ukraine War, amid divisions between various countries over the conflict.
While Russia and China oppose blaming Moscow for the “invasion in Ukraine,” western countries including the US, Canada and France have been arguing against the view.
Another big challenge is the climate change goals which have divided developed and developing countries. These differences were prominent in the July meetings. Officials hinted that the positions are not likely to change at the summit.