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The G20 Summit is poised to begin on September 9 in New Delhi. The event, spanning two days, will witness participation from representatives of both member nations and guest nations. The focal point of the summit will involve deliberations on a range of economic reforms. Here are all the questions frequently asked about the G20 Summit.
What is G20?
Established in 1999, the Group of Twenty (G20) is a consortium comprised of twenty of the world’s largest economies. The main purpose behind its inception was to create a platform where significant industrialized and developing economies could convene to engage in discussions about matters concerning global economic and financial stability.
The G20 nations collectively account for approximately 85% of the global Gross Domestic Product (GDP), more than 75% of the worldwide trade, and approximately two-thirds of the global population.
The G20, consisting of 19 individual nations (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) along with the European Union, collectively forms a prominent international assembly.
How G20 Works?
As per the central government website on the G20 Summit, the G20 was upgraded to the level of heads of state, and government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the “premier forum for international economic cooperation”.
The G20 Presidency oversees the G20 agenda over a span of one year and takes on the role of hosting the Summit. In the year 2022, Indonesia assumed the G20 presidency. Following that, Brazil is set to take on the presidency for the upcoming year.
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Within the G20, there are two concurrent tracks: the Finance Track and the Sherpa Track. The Finance Track is led by Finance Ministers and Central Bank Governors, while the Sherpa Track is guided by Sherpas following the Finance Track.
The G20 process from the Sherpa side is coordinated by the Sherpas of member countries, who are personal emissaries of the Leaders. Finance Track is led by Finance Ministers and Central Bank Governors of the member countries.
Where US President Joe Biden and leaders from other countries will stay?
In addition to the robust security measures planned for Delhi, the preparations also encompass the provision of accommodations for the delegates. More than 30 hotels have been selected to accommodate the delegates throughout the duration of the event.
As per media reports, among the hotels in Delhi, those catering to the delegates include ITC Maurya, Taj Mansingh, Taj Palace, Hotel Oberoi, Hotel Lalit, The Lodhi, Le Meridien, Hyatt Regency, Shangri-La, Leela Palace, Hotel Ashoka, Eros Hotel, The Surya, Radisson Blu Plaza, JW Marriott, Sheraton, The Leela Ambience Convention, Hotel Pullman, Rosette Hotel, and The Imperial.
According to a report by Business Today citing sources, President Biden is set to reside at the ITC Maurya Sheraton during the summit.
Enhanced security measures will be enforced, with Secret Service commandos stationed on every hotel floor. A dedicated elevator will be installed to transport the President to his room on the 14th floor. About 400 rooms have been reserved in the hotel for this purpose.
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