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FAQs


What is the G20?
G20 is a forum of the Heads of Governments of the 19 major economies and the EU for global cooperation on international economic and financial issues.
Who are the members of G20?
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Korea, South Africa and Turkey, UK, USA and the EU, are the members of G20.
How did this international forum begin?

Originally, G20 was created in September 1999 as a forum of the Finance Ministers and the Central Bank Governors of the 19 major Economies and the EU in the aftermath of East Asian Crisis of 1997.  The forum was created at the initiative of the seven major industrial countries (Canada, France, Germany, Italy, Japan, U.K. and USA) to promote consultations and coordination with the emerging and developing economies in view of the realisation that some of these key countries are not sufficiently involved in the discussions and decisions concerning global economic issues though their influences were growing in the International financial system.

The current G20 Leaders' forum has emerged from the original G20 with the upgradation of stature of participation from Finance Ministers and Central Bank Governors level to the level of Heads of States when on November 15, 2008, the G20 Leaders met in Washington D.C. on an invitation of US President to act as a crisis manager group in the wake of global financial crisis of 2008.

What are the objectives of G20?

The following objectives have evolved over the last few years of G20's working:

  • Ensuring international policy cooperation in a coherent manner that is consistent with the contextual business cycles.
  • Strengthening the financial system, improving the international financial architecture and regulation in an interconnected world to avert and prevent global financial crisis.
  • Promoting economic growth and sustainable development by addressing the current economic problems, by suggesting measures and initiating actions. 

G20 also aims to foster and adopt internationally recognized standards through the example set by its members in areas such as the transparency of fiscal policy, global tax network and combating money laundering and the financing of terrorism.

How does G20 ensure that interests of non-member countries are taken care of in their global decisions?
The Presidency of G20 invites non-member countries and institutions to attend the Leaders' summit.  The number of invited non-member countries in any year normally does not exceed five. Invitation is extended to give a fair and balanced geographical representation to non-members. Countries presiding over regional forums, such as the African Union, ASEAN, etc., are invited.  In the Seoul summit held in November 2010, it was decided that among the five non-member invitees at least two must be from African countries. Spain is a permanent invitee. Non-member invitees attend Leaders' meetings and take part in the meeting of Finance Ministers' and Sherpas. They are also involved in drafting of Summit decisions, and are invited to take part in the Working Group meetings. Under the Russian Presidency, Ethiopia ( chair of AU), Senegal (chair of NEPAD), Brunei Darussalam ( chair of ASEAN), Singapore (chair of the Global Governance Group (3G), Kazakhstan and Spain are attending as invitees.
Which country holds the G20 Leadership now?
In the current year G20 Presidency is held by China.
How is the G20 Leadership decided?

One of the G20 countries is selected to hold the Chair on rotational basis, better known as "G20 Presidency". For selecting a Presidency, a system has come into existence since 2010 when South Korea held the chair. Accordingly, 19 countries have been categorized into the following 5 regional groupings:
Group 1: Australia, Canada, Saudi Arabia, USA
Group 2: India, Russia, South Africa, Turkey
Group 3: Argentina, Brazil, Mexico
Group 4: France, Germany, Italy, U.K.
Group 5: China, Indonesia, Japan, South Korea

Each group holds a maximum of four nations. The chair rotates among the groups and one country from a group is selected in a specific year. Thus, in 2010 South Korea in Group 5 was the chair; in 2011, France in Group 4 was the chair; In 2012, Mexico in Group 3 was the chair; In 2013, Russia in Group 2 was in the Chair; and in 2014, Australia in Group 1 was the Chair, and in 2015, Turkey in Group 2 was the chair.

Which countries held G20 Leadership in the past years?
G20 Presidency was held by Turkey in 2015, Australia in 2014, Russia in 2013 and by Mexico in 2012.
Which country will hold G20 Leadership next year?
China will pass on the G20 Presidency to Germany in the next year 2017.
Is G20 an institution like World Bank/IMF/UN?
No. The G20 operates as a forum and is not a multilateral institution like World Bank/IMF/UN. It does not, therefore, have any permanent secretariat or management and administrative structure.
Does G20 substitute for other multilateral institutions?
No. G20 is not a substitute for other multilateral institutions.  However, the G20 maintain close association with multilateral institutions. On the request of G20, these institutions provide expert support and advice as per their respective competence. They provide reports and position papers relating to the Agenda Items. These institutions are also frequently invited to participate in the premier forum and G20 Working Groups meetings.
What is G20 Leaders' Summit?
The G20 Leaders' Summit is the main G20 event in which all the Heads of States of G20 member countries meet to discuss global economic and financial issues and give direction to the future course of action based on the review of current status. The outcome of the Summit is issued by way of a document called "Communique" or "Declarations"
How many Summits have so far been held?
Ten G20 Leaders Summit have been held so far. First, in Washington D.C. on November 15, 2008; Second, in London on April 2, 2009; Third, in Pittsburg on September 24-25, 2009, Fourth, in Toronto on June 26-27, 2010; Fifth, in Seoul on November 11-12, 2010; Sixth, in Cannes (France) on November 3-4, 2011: Seventh, in Los Cabos (Mexico) on June 18-19, 2012 and eighth in St. Petersburg (Russia) on September 5-6, 2013, the 9th summit in Brisbane, Australia on November 15-16, 2014 and the 10th G20 Leaders Summit was held in Antalya, Turkey on November 15-16, 2015.
Who represents various countries in Leaders' Summit?
Heads of States of 19 G20 member countries represent in Leaders' Summit. EU is represented by the President of the European Council.  Prime Minister represents India.
How is the Summit Declaration or Communique prepared?

The Leaders’ “Declaration” or “Communique” is the final outcome of G20 Summit.  It highlights the progress made in the G20 work in the past year, the G20 deliverables in the following year and the strategies and action plans to achieve these deliverables. There are broadly two channels through which work is done: (i) The Finance Track and (ii) The Sherpa’s Track. Both the tracks rely on technical analysis, advice and recommendations of a series of expert Working Groups and Committees on specific thematic issues.  These working groups/task forces/committees are generally co-chaired by one advanced and one emerging economy member country of the G20. The government officials of the Ministries/ Departments that deal with the given thematic subjects in the respective G20 member countries are nominated by their governments to represent as members in the Working Groups.  Representatives of the non-member countries and International Organizations are also invited in these working groups and task forces. Specific G20 Ministerial Meetings such as G20 Agriculture Ministers, Labour Ministers and Trade Ministers are organized on specific themes of importance as identified by the G20 Leaders or the G20 Presidency.  Outcomes of such ministerial meetings feed into the Sherpas Track.

Based on inputs from the Finance Track, and Sherpas Track, a draft Communique is drawn and negotiated by Sherpas who have been tasked by their Leaders to negotiate the Summits documents on their behalf.  In the Leaders’ Summit, final reports and documents containing recommendations of the various working groups under the Finance track, Sherpa’s track and Ministerials are submitted to the Leaders, and Leaders adopt the Communique drafted and finalized by Sherpas based on all these inputs.

Are the decisions of G20 legally binding on countries and institutions?
No. G20 decisions are not legally binding on countries and institutions. However, all the members voluntarily commit to comply with the decisions. Also, compliances to the commitments made by countries are monitored through Mutual Assessment Process.
Which documents constitute Official materials?
All the communiqués, Declarations, Statements and reports agreed by the G20 Leaders and Ministers constitute Official materials.
What is the role of International/Multilateral organizations in G20?
International organizations provide expert support to the G20. They take on various assignments from G20 Leaders and provide expert advice on matters within their competence. These organizations are actively involved in drafting reports, position papers and proposals on the primary agenda items.  They are also invited to attend and participate in various G20 meetings.
What is "Troika" in G20 context?
"Troika" is a Russian word meaning – a set of three. In the G20 context, the immediate past year's Presidency, the current year's Presidency, and the next year's Presidency constitute "Troika" that acts as a Steering Committee to ensure continuity in G20 work. The G20 current presidency in 2016 is held by China. In 2015, Turkey held the G20 Presidency. In the next year in 2017 Germany will host the G20 Presidency. These three countries constitute "Troika" at present.
How does G20 work to influence global decisions?

G20 accounts for approximately 90 per cent of the World GDP, nearly 80 per cent of World trade and almost two thirds of World Population.   

Decisions in G20 are taken based on a consensus among members and non-members and international institutions. Consensus on issues is reached through consultations and discussions in Finance Track and Sherpas Track and their subsidiary Ministerials and Working Groups.  The participating members voluntarily commit to comply with the G20 decisions.

The current G20 has grown in stature from the original G20 that was established in September 1999 as a forum of the Finance Ministers and the Central Bank Governors of the 19 major Economies and the EU in the aftermath of East Asian Crisis of 1997.  The forum was created at the initiative of the seven major industrial countries (Canada, France, Germany, Italy, Japan, U.K. and USA) to promote consultations and coordination with the emerging and developing economies in view of the realisation that some of these key countries are not sufficiently involved in the discussions and decisions concerning global economic issues though their influences were growing in the international financial system.

The Finance Ministers and the Central Bank Governor's Forum was elevated to Head of State's forum in the wake of the global financial crisis in 2008 when the G20 Leaders met in Washington D.C. on November 15, 2008 on the invitation of the US President. The main objective was to cope with the global financial and economic crisis.  Since then, through consultations and cooperation, G20 has played a major role as a crisis manager and successfully contributed in averting further serious consequences of the global financial crisis. Some major decisions in these regards are worth mentioning. In November 2008, the G20 Leaders agreed to regulate the hedge-funds and the rating companies, and sought to strengthen standards for accounting and derivatives. In April 2009, the Leaders pledged $1 trillion to the IMF and the World Bank to help emerging market countries to offset the effects of recession. In September 2009, the Leaders established a Financial Stability Board to implement financial reforms. Also they took decisions to regulate tax heavens, and more than deserving executive pay increase in the banks and financial institutions. In June 2010, the Leaders agreed to cut their budget deficits to half by 2013 and to eliminate deficits altogether three years later. In November 2010, the G20 Leaders agreed to bring Development agenda under the G20 discussions.

G20 is now perceived as a global decision making forum for contextual critical global issues that are important for achieving sustainable growth and maintaining stability.

Thus, G20's major achievements include strengthening the role of emerging economies, such as BRICS, reforming international financial institutions, improving discipline and tightening oversight over national financial institutions and regulators, improving the quality of financial regulations in economies whose regulatory problems led to the crisis, and creating financial and organizational safety nets to prevent severe economic slumps in the future.

What is Finance Track?
Financial and economic issues under the G20 are deliberated and coordinated in the Finance Track.
Who represents a country in Finance Track?
The Finance Track is composed of all Finance Ministers and Central Bank Governors of G20 members, who meet regularly during the year to analyse global economic problems and take coordinated actions towards their solution.
What are the issues being discussed in G20 today?
China, assuming the G20 presidency for 2016, stands ready to work together with all members TOWARDS AN INNOVATIVE, INVIGORATED, INTERCONNECTED AND INCLUSIVE WORLD ECONOMY. Hence the theme of the 2016 G20 Summit.

Innovation is an important driving force for global sustainable growth. Cyclical policies can iron out short-term fluctuations, but it is hardly sufficient to sustain long-term growth. The G20 should forge new growth engines by promoting innovation-driven development, encouraging across-the-board innovation in science and technology, in development concepts, and in institutions and mechanisms, as well as in business models.

An invigorated world economy is based on and requires the participation of all stakeholders. The G20 should stimulate greater dynamism for growth through domestic structural reforms, international economic cooperation, and global economic governance that is equitable, legitimate and effective. Only when stronger endogenous sources of growth are identified and higher growth quality and efficiency are achieved in each and every economy, can the potential of the world economy be fully unleashed.

In a globalized world, the interconnectivity between growth and development in different countries have become so close that we either stand or fall together. That sense of community should both impel and enable the G20 to strive to build an open world economy, cooperate to address common challenges, and strengthen all-dimensional connectivity and sound interaction among economies to achieve mutual benefits.

While the development levels of countries differ from one another, the gap must be narrowed rather than left to widen. Likewise, benefits of development should be shared by all rather than by only a few. The G20 is committed to more inclusive growth, through concrete actions to reduce inequalities and imbalances in global development.

Key Agenda Items for Chinese Presidency are :
  • Maintaining the Momentum of World Economic Recovery
  • Lifting Mid-to-Long Term Growth Potential
  • Improving International Financial Architecture to Meet Future Challenges
  • Continuing Financial Sector Reforms
  • Developing Green Finance
  • Improving International Tax Regime
  • Implementing Consensus on Anti-Corruption
  • Reinforcing Trade and Investment Cooperation Mechanism
  • Supporting the Multilateral Trade System
  • Promoting Global Trade Growth
  • Promoting Inclusive and Integrated Global Value Chains
  • Enhancing Cooperation and Coordination on Global Investment Policy
  • Implementing the 2030 Agenda for Sustainable Development
  • Optimizing G20 Development Cooperation Agenda
  • Building Infrastructure and Connectivity
  • Promoting Accessible, Affordable and Sustainable Energy Supply
  • Increasing Employment
  • Improving Food Security and Nutrition
  • Mobilizing Climate Finance
  • Eradicating Poverty
  • Supporting Industrialization in Africa and Other Developing Countries
What is the “Framework for Strong, Sustainable and Balanced Growth”

G20 Leaders at the Pittsburgh Summit held in September 2009 had committed to work together to ensure that global growth is strong, sustainable and balanced. To that end, the Framework for Strong. Sustainable and Balanced Growth was launched. In the framework, the G20 members (i) agree on shared policy objectives, (ii) assess the implications of national policy frameworks for global growth and (iii) agree on policy actions to meet the common objectives.

A G20 Framework Working Group is chaired by Canada and India. Since 2009, decisive actions have been undertaken by G20 to restore and strengthen global growth and to put it on the sustainable path. Nevertheless, global economic recovery is still fragile and large downside risks to the outlook remain, thus spurring the need for in-depth analysis of economic policies and well-coordinated actions of the G20's member economies.

Russian Presidency in 2013 addressed this problem through further development of the Framework for Strong, Sustainable and Balanced Growth when the following topics were discussed: (i) Revision of country-specific medium- and long-term public debt targets and develop strategies to achieve them; (ii) Enhancement of the Accountability Assessment Process by extending the number of indicators to enable more comprehensive and precise macroeconomic analysis; (iii) Analysis of the persistent imbalances among the G20 members in fiscal, monetary, exchange rate and structural policy domains.

An updated report on the persistent imbalances in the G20 economies, as well as an enhanced Accountability Assessment framework, and a review of the progress on the previous G20 commitments were presented.

During the Australian Presidency in 2014, Framework Working Group met 4 times in January in Quebec City Canada, In March in Akara (Turkey), in June in Goa (India) and in September in South Africa. Based on the deliberations and discussions, assessment of progress in respect of each G20 member has been made and an updated report on Accountability Assessment has been prepared and presented.

What is G20 Mutual Assessment Process?
The Mutual Assessment Process(MAP) is the backbone of G20 “Framework for Strong, Sustainable and Balanced Growth”. The Mutual Assessment Process(MAP) is an approach to policy collaboration that was conceived by the members of the G20 at the 2009 Pittsburgh Summit. G20 Leaders had committed to set up a cooperative G20-led process of mutual assessment of the progress towards meeting the common objectives set by Framework for Strong, Sustainable and Balance Growth. The IMF, World Bank, OECD, ILO and other international institutions were asked to support a Mutual Assessment Process and provide technical assistance. A G20 Framework Working Group, chaired by Canada and India, provide guidance to international institutions on their technical support.

In their assessment report prepared for the Toronto Summit. IMF and World Bank staff highlighted that collective action by G20 members would result in substantial benefits for the global economy. More specifically, in their upside scenario of collaborative policy actions, they had found that global output would increase by up to USD 4 trillion and employment gains would be in the order of 52 million jobs. Also, 90 million people would be lifted out of poverty and global growth would be more balanced in G20 members were to take collective action.

The Seoul Action Plan set out actions in five policy areas
  • Monetary and exchange rate policies: Leaders reaffirmed “central banks commitment to price stability, thereby contributing to the recovery and sustainable growth”. As regards exchange rate matters, they pledged to move towards more market-determined exchange rate systems and enhance exchange rate flexibility to reflect underlying economic fundamentals and refrain from competitive devaluation of currencies. Advanced G20 economies committed to be vigilant against excess volatility and disorderly movements in exchange rates. For emerging economies, the Leaders agreed that under specific conditions (adequate reserves, overvalued flexible exchange rates, strong capital inflows) these economies may resort to macro-prudential measures.
  • Fiscal policies: The advanced economies would formulate and implement clear, credible, ambitions and growth-friendly medium-term fiscal consolidation plans in line with the Toronto commitment.
  • Financial reforms: The Leaders pledged to implement global standards that have been already agreed, thereby ensuring a level playing field and avoiding fragmentation and regulatory arbitrage.
  • Structural reforms: The Leaders agreed to implement a range of structural reforms to boost and sustain global demand, foster job creation, contribute to global rebalancing, and increase the growth potential of their economies.
  • Trade and development policies: Leaders committed to free trade and investment and recognized the importance of a prompt conclusion of the Doha negotiations. With the re-emergence of global imbalances posing a major risk to the global outlook Leaders pledged to strengthen multilateral cooperation to promote external sustainability. There was agreement to refine the Mutual Assessment Process (MAP) beyond Seoul and to establish a procedure for assessing persistently large imbalances, to be assessed against indicative guidelines.

During the French Presidency, G20 Leaders committed to the Action Plan for jobs and growth setting the course for the Mutual Assessment Process in 2012. Two key guideposts were specified: (i) Containing key risks and (ii) enhancing accountability among members with respect to their policy commitments. G20 agreed on a set of indicators to be assessed to identify persistently large current amount imbalances. These indicators pertain to the public sector (public debt and fiscal deficits), the private sector (private savings rate and private debt) and the external sector (the external imbalance composed of the trade balance and net investment income flows and transfers, taking due consideration of exchange rate, fiscal monetary and other policies).

During the Mexican Presidency, G20 Leaders agreed on an enhanced Accountability Assessment Process that included a peer review process and drew on, as required, input from the International Financial Institutions. They agreed on a common approach to measure progress against previous commitments in the areas of fiscal, monetary, exchange rate, and other policies. Under the process, members will have regular peer-review discussions informed by qualitative and quantitative assessments. A readily-prepared set of quantitative measures will allow members to monitor and assess progress throughout the year. While some indicators may be updated only infrequently, other higher-frequency measures will help in monitoring members’ progress on an ongoing basis and will keep the discussion about progress informed and current. The Framework Working Group will prepare regular reports to inform discussions by G-20 Deputies, Ministers and Governors, and Leaders. To keep the indicators consistent and transparent, as far as possible, a distinction is made between directly observable indicators and estimated indicators.

During the Russian Presidency the St Petersburg Action Plan developed by the Framework Working group was adopted by Leaders at St Petersburg Summit in September 2013. It is designed to boost economic activity and job creation, support the recovery, and address near-term risks to the outlook, while strengthening the foundations for strong, sustainable and balanced growth through ambitious and well-targeted reforms. The Action Plan is informed by the assessment of the economic outlook, and the Accountability Assessment, which describes progress made toward implementing existing commitments and identifies gaps in agreed reform agenda. Full text of the action plan is available at Click Here

During the Australian Presidency, the Brisbane Accountability Assessment dated November 2014 has concluded that G-20 members have made progress towards their commitments across all policy areas. Despite these policy efforts, the G-20 has still not achieved its goal of strong, sustainable, and balanced global growth. The member-specific comprehensive growth strategies prepared for the Brisbane Summit, accompanied by the full implementation of previous commitments, are crucial for the G-20 to meet this goal. The key goal of growth strategies is to address the main policy challenges that are holding back the recovery and limiting growth in potential output, in addition to ensuring that G-20 members’ macroeconomic policies are appropriately calibrated to economic conditions. G-20 Finance Ministers and Central Bank Governors have agreed to an ambition of raising collective GDP by at least two per cent over five years above the level implied by policies in place, or committed to, at the St. Petersburg Summit through policy actions in growth strategies. Over the next year the G-20 will monitor progress towards the commitments members put forward in Growth Strategies, adapt the Accountability Assessment process to gauge implementation of these measures and the two per cent ambition, and present another Accountability Assessment at the 2015 Summit in Turkey.

What is Sherpas track?
The Sherpas' Track focuses on political, development-oriented non-financial issues such as: agriculture; anti-corruption; development; employment; and energy. The Sherpas delegate policy and technical analysis to working groups drawn from officials from each member country and international organisations, and also facilitate dialogue with a range of stakeholder groups including business groups and academic institutions.
Who is a Sherpa? What is Sherpa's role?

Sherpa is the personal representative of the Leader/Head of State of a G20 member country.  The term is derived from the Sherpa people, a Nepalese ethnic group, who serve as guides and porters in the Himalayas. The Sherpas' track focuses on political, non-financial issues, such as: employment, agriculture, energy, the fight against corruption and development, among others. The Sherpas carry out important planning, negotiation and implementation tasks throughout the entire process. They coordinate the agenda, seek consensus at the highest political levels and help negotiate the Leaders' positions.

Toward the end of the process, along with the Deputy Finance Ministers, the Sherpas prepare the final declaration statement and other supporting documents for the Leaders. The Sherpas' track delegates technical and policy analysis to a series of working groups, made up of officials from each member country and international organizations. The Sherpas are also responsible for holding frequent meetings with other relevant stakeholders, such as the business community, academic institutions and young people in order to facilitate an inclusive and representative dialogue.

Who represents as India's Sherpa in G20?
Sh. Arvind Panagariya represents as India's Sherpa in G20.
Which issues are being discussed and debated under "Sherpas Track" in the Current year? Are these issues different from those discussed in the past years?
Given the Priorities of Chinese Presidency, the following issues are likely to be discussed under the Sherpas Track in 2016
  • Development
  • Energy
  • Climate Change Finance
  • Anti-corruption
  • Investment in Infrastructure and SMEs
  • Employment and
  • Trade

The issues are in continuation of the discussions in the past year.

Where can I find details of G20 meetings to be held in the current year?
Kindly see the G20 Calendar 2016 on the homepage of this website.
Where can I find details of G20 meetings held so far?

See answer to Q. 13 and Details of G20 History and Past Presidencies are available at HERE.

How is the priority of G20 in any given year decided?

The objectives of the G20 are:

  • Policy coordination among its members in order to achieve global economic stability and sustainable growth;
  • To promote financial regulations that reduce risks and prevent future financial crises; and
  • To create a new international financial architecture.

These objectives are pursued through common agenda that are continued and followed up over years. In addition, each year, the G20 Presidency has the privilege to decide its priorities within these broad objectives. The priorities are announced by the Presidency after assuming the Chair.

These priorities then shape focus in G20 meetings in the year.

What is G20 Ministerial Meetings?

G20 Ministerial Meetings refer to those meetings which take place at the Ministers levels.

Specific G20 Ministerial Meetings such as G20 Agriculture Ministers, Labour Ministers and Trade Ministers are organized on specific themes of importance as identified by the G20 Leaders or the G20 Presidency. Outcomes of such ministerial meetings feed into the Sherpas Track and subsequently to Leaders' declaration.

How many Ministerial meetings have been held so far and on which subjects?

Other than Finance Ministers meetings, G20 Labour Ministers have met six times in April 2010 in Washington D.C., in September 2011 in Paris, in Guadalajara, Mexico in May 2012, in Moscow in July 2013, in Melbourne in September 2014, and in Ankara in September 2015
The G20 Agriculture Ministers have met thrice:  in 2011 at Paris under the French Presidency, at Mexico in 2012 and in Istanbul in May 2015.

G20 Trade Ministers have met thrice under the Mexican Presidency in 2012, under the Australian Presidency in Sydney in July 2014 and in Istanbul in October 2015 under Turkish Presidency.

G20 Tourism Ministers have met 2 times so far: in Merida under Mexican Presidency in 2012 and in Antalya in October 2015 under Turkish Presidency.

G20 Energy Ministers have met once in Istanbul in October 2015 under Turkish Presidency.

G20 Foreign Ministers have met twice: in Los Cabos in 2012 under the Mexican Presidency and in Petersburg in 2013 Under Russian Presidency.

What are the current priorities of G20?

China, assuming the G20 presidency for 2016, stands ready to work together with all members TOWARDS AN INNOVATIVE, INVIGORATED, INTERCONNECTED AND INCLUSIVE WORLD ECONOMY. Hence the theme of the 2016 G20 Summit.

Innovation is an important driving force for global sustainable growth. Cyclical policies can iron out short-term fluctuations, but it is hardly sufficient to sustain long-term growth. The G20 should forge new growth engines by promoting innovation-driven development, encouraging across-the-board innovation in science and technology, in development concepts, and in institutions and mechanisms, as well as in business models.

An invigorated world economy is based on and requires the participation of all stakeholders. The G20 should stimulate greater dynamism for growth through domestic structural reforms, international economic cooperation, and global economic governance that is equitable, legitimate and effective. Only when stronger endogenous sources of growth are identified and higher growth quality and efficiency are achieved in each and every economy, can the potential of the world economy be fully unleashed.

In a globalized world, the interconnectivity between growth and development in different countries have become so close that we either stand or fall together. That sense of community should both impel and enable the G20 to strive to build an open world economy, cooperate to address common challenges, and strengthen all-dimensional connectivity and sound interaction among economies to achieve mutual benefits.

While the development levels of countries differ from one another, the gap must be narrowed rather than left to widen. Likewise, benefits of development should be shared by all rather than by only a few. The G20 is committed to more inclusive growth, through concrete actions to reduce inequalities and imbalances in global development.

Visions shape goals, which in turn guide actions. During the preparations for the G20 Summit in 2016, China will strengthen coordination and cooperation with all parties, and spare no efforts to build an innovative, invigorated, interconnected and inclusive world economy.

What is the role of India in G20?
India is a member of the G20. Since introduction of globalization and liberalization policies in 1991, India has increasingly integrated with the rest of the world and plays an important role in maintaining global economic balance. At the same time unfavourable developments like global financial crisis and euro zone crisis impact India's growth prospect significantly. As a member in G20, India's Leaders have voiced their concerns regarding rebalancing global governance by reforming global financial institutions, checking global macroeconomic imbalances, checking protectionist measures, widening of G20 agenda to include development issues etc. Various officials take part in G20 Working Group meetings and voice India's concerns on those issues.
Which department in the Government of India looks after the G20 issues in India?
G20 India Secretariat in the Department of Economic Affairs provides secretarial and technical support to the Apex Council on G20 Issues, under the Chairmanship of the Finance Minister, established to provide direction to the preparation of policy and country response to issues contemplated in the G20 and to advice the Prime Minister as required; and to consider any other issues of international economic relations or issues that may have wide policy ramifications that may be referred to the Apex Council by the Department of Economic Affairs.
What is the role of G20 India Secretariat?
The G20 India Secretariat is established in the Multilateral Relations Division of the Department of Economic Affairs, Ministry of Finance to coordinate work on all the G20 related matters in the Government of India.
What are the G20 Outreach Groups?
To bring non-members, private sectors, civil society and other inter-governmental organizations on board, G20 has been supporting outreach consultations with interested parties and groups. Existing outreach groups are : Business 20, Civil 20, Labour 20, Think 20 and Youth 20.
What is Business 20?

The B20 is a network of business associations, working in collaboration to maintain a dynamic dialogue between the private business community, G20 member countries and the relevant international institutions. This dialogue contributes to the development of a stable, sustainable and equitable global economic growth by stimulating private job creation and investment.  Primary objectives of B20 are to:

  • Contribute to the further development of G20 by proposing both general ideas and specific recommendations coming from the business community
  • Promote transparency of B20 and G20 discussion and G20 compliance with own commitments
  • Encourage the G20 private sector to undertake initiatives contributing to the solution of the global issues
Who participates in Business 20?
Private business community, representatives of the business associations from G20 member countries and the relevant international institutions participate in Business20.
When is the Business 20 meeting scheduled to be held in the Current Year (2016)?
Details awaited.
What is Civil 20?
Civil 20 is a meeting for policy dialogue between the Political Leaders of G20 countries and representatives of civil society organizations working on the issues related to the agenda of G20 Summit. The goal of Civil 20 meeting is to facilitate exchange of ideas and opinions about the agenda of the G20 Summit and discuss pertinent issues which are of relevance to civil society with a view to making substantive contributions to policy formulation based on the civil society assessment of the main agenda and issues of the G20 Summit.
Who participates in Civil 20?
Civil 20 is represented by grassroots groups, non-governmental organizations, academics and other actors who significantly contribute to transparency, review and evaluation processes as well as to monitoring the outcomes and commitments of the G-20. The deliberations for G20 civil society started in the Toronto summit in June 2010. The Russian G20 presidency have elaborated on the idea and agreed on a plan of action with several milestones.
When is the Civil 20 meeting scheduled to be held in the Current Year(2016)?
Details awaited.
What is Labour 20?
The Labour 20 (L20) are the elected representatives of trade unions from the G20 countries, representing the voice and interests of working people. For many years the International Trade Union Confederation (ITUC) and the Trade Union Advisory Committee (TUIC) to the OECD have brought together labour leaders at G8 and G20 summits. The first formal L20 summit took place at the Cannes G20 summit in November 2011. Subsequent L20 Summits took place in Los Cabos in June 2012 and in Moscow in July 2013. L20’s activities in 2014 can be seen at http://www.ituc-csi.org/l20?lang=en
What is Think 20?
The Think 20 is a meeting of the world's leading think tanks representatives with the aim of sharing their visions on the most pressing issues of the global agenda, as well as maintaining fruitful and meaningful cooperation between government and academic circles. Think tanks play an important role in the G20 processes, creating "ideas bank" which helps to transmit the main outcomes from research institutions to the global governance institutions. The main outcomes of the Meeting are delivered in the form of practical recommendations that think tanks provide on the issues of global governance, improving the G20 working process and facilitating inclusive economic growth. A Think 20 meeting under the Russian Presidency has been held on December 11, 2012 in Moscow.

Think 20 activities and meetings in 2014 have been coordinated by the G20 Study Center, Lowy Institute for International Policy. They have produced analyses and reports on G20 issues throughout the year and also organized a number of events. Detailed information are available at their website at www.lowyinstitute.org
What is Youth 20?

The Youth20 Summit is a premier international Youth conference that brings together students and young professional from the G20 nations to address the most pressing international issues and promotes international dialogue and cultural openness between international networks of student organizations. The core objectives of the Youth 20 are the following:

  • To involve young leaders from all over the world in resolving the most pressing economic and social problems of the moment
  • To establish an intercultural dialogue
  • To build business partnerships and friendships
When is the Youth 20 meeting scheduled to be held in the Current Year(2016)?
Details awaited.
What are the outcomes of G20 summits?
The First G20 Leaders summit was successful in reaching a common understanding of the root causes of the global crisis, in reviewing actions countries had taken and would take to address the immediate crisis, in agreeing on common principles for reforming the financial markets, and in launching an action plan to implement those principles. The leaders reaffirmed their commitment to free market principles. The leaders also agreed to reject protectionism and agreed to refrain from imposing any new trade or investment barriers for the next 12 months. The Leaders asked their finance ministers to develop further specific recommendations that would be reviewed in their next summit in 2009.

In the Second G20 Leaders Summit, the Leaders agreed to treble resources available to the IMF to $750 billion, to support a new SDR allocation of $250 billion, to support at least $100 billion of additional lending by the MDBs, to ensure $250 billion of support for trade finance, and to use the additional resources from agreed IMF gold sales for concessional finance for the poorest countries. These constituted an additional $1.1 trillion programme of support to restore credit, growth and jobs in the world economy. To strengthen financial supervision and regulation, the Leaders established a new Financial Stability Board (FSB), as a successor to the Financial Stability Forum (FSF) and also declared that the era of banking secrecy is over. The new FSB include all G20 countries, FSF members, Spain, and the European Commission. Major mandates of the FSB were set to collaborate with the IMF to provide early warning of macroeconomic and financial risks and the actions needed to address them; to take action against non-cooperative jurisdictions, including tax havens, to set a high-quality global accounting standards; and to extend regulatory oversight and registration to Credit Rating Agencies to ensure they meet the international code of good practice.

The major outcome of the Third Leaders Summit held in Pittsburgh has been the Leaders’ pledge to foster a “Framework for Strong, Sustainable and Balanced Growth” in the 21st century through sound macroeconomic policies that prevent cycles of boom and bust, adopting the mutual assessment process and peer review; and a decision to reform the IFIs by shifting IMF’s quota share to dynamic emerging markets and developing economies of at least 5% from over-represented countries to under-represented countries, adoption of a dynamic formula for the World Bank to generate an increase of at least 3% voting power for developing and transition countries that are under-represented; and ensuring that the World Bank and the Regional Development Banks have sufficient resources to address global challenges.

The theme of the Fourth Leaders Summit held in Toronto was stated as “Recovery and New Beginnings”. It was focused on Strong, Sustainable and Balanced Growth and on completion of the Mutual Assessment Process through Peer Review by grouping of countries. Advanced economies committed to the fiscal consolidation conditions of halving their fiscal deficit by 2013 and stabilizing debt by 2016 as part of re-balancing commitments. An agreement was also reached on differentiated approach to consolidating growth and recovery versus exit strategies and fiscal consolidation. “Development” was introduced for the first time on the G20 agenda and a high Level Development Working Group was created.

The highlight of the Fifth Leaders Summit held in Seoul under the theme” Shared Growth Beyond Crisis” was the launching of the G20 Development Agenda embodied in the Multi-Year Action Plans for the nine development pillars: (i) infrastructure; (ii) human resource development; (iii) Trade; (iv) Private investment and job creation; (v) Food Security; (vi) Growth with resilience; (vii) Domestic resource mobilization; (viii) Knowledge sharing; and (ix) Financial inclusion. MDBs were asked to pursue actions in specific areas and a High Level Panel was created to review MDB Action Plan and to identify ways to scale up financing for investments in infrastructure.

Major outcomes of the Sixth Summit held in Cannes were regulation of commodity derivative markets, action plan on commodity price volatility and agriculture, increasing transparency of energy markets, and supporting the recommendations of the High Level Panel on infrastructure. The Cannes summit final Declaration was titled “Building our Common Future: Renewed Collective Action for the Benefit of All” and was accompanied by “Cannes Action Plan for Growth and Jobs”.

One of the main outcomes of the Seventh Summit was the adoption of the Los Cabos Growth and Jobs Action Plan wherein individual countries that make up the G20 committed themselves to take up measures that will contribute to strong, sustainable and balanced growth. The Action Plan was developed by the Framework Working Group co-chaired by India and Canada. In addition, progress was reported in the area of financial regulation and further pledges to boost the financial resources of the International Monetary Fund (IMF) including India’s pledge of $10 Billion. Other key issues addressed at the summit included development policy, green growth, and trade and employment.

Key outcomes of the Eighth G20 Summit included:
  • the St Petersburg Action Plan, which sets out reforms for achieving strong, sustainable and balanced growth, coupled with an Accountability Assessment describing progress made on past commitments
  • extending the G20’s commitment not to introduce new trade or investment protectionist measures until the end of 2016
  • full endorsement of the OECD-created Action Plan aimed at addressing tax base erosion and profit shifting
  • the St Petersburg Accountability Report on G20 Development Commitments, which sets out the progress achieved since the G20 adopted the 2010 Seoul Multi-Year Action Plan on Development
  • endorsement of the St Petersburg Development Outlook, which states the core priorities, new initiatives and ongoing commitments for the G20’s development work
  • extending the mandate for the Task Force on Employment by another year
  • commitment to identify and start to implement by the Brisbane Summit a set of collective and country-specific actions that tangibly improve domestic investment environments
  • a reaffirmed commitment to implementation of agreed financial regulatory reforms and International Monetary Fund reform.

In the Ninth G20 Summit Leaders expressed their commitment to work in partnership to lift growth, boost economic resilience and strengthen global institutions. Major outcomes include
  • setting the target of lifting the G20’s GDP by at least an additional 2 percent by 2018;
  • to establish a Global Infrastructure Hub with a four-year mandate to develop a knowledge-sharing platform and network between government, private sector, development banks and other international organizations to collaborate and improve functioning and financing of infrastructure markets,
  • commitment to strengthen global institutions and progressing on the IMF quota and governance reforms agreed in 2010 and the 15th General Review of Quotas, including a new quota formula;
  • commitment to reduce unemployment, particularly youth unemployment and the employment gap between men and women by 25% by 2025,
  • to take measures to reduce cost of transferring remittances to enhance financial inclusion as a priority,
  • to fully implement agreed financial regulatory reforms while remaining alert to new risks,
  • to finalise in 2015 the G20/OECD Base Erosion and Profit Shifting (BEPS) Action Plan to modernise international tax rules.
  • to implement all elements of the Bali package and to swiftly define a WTO work programme on the remaining issues of the Doha Development Agenda to get negotiations back on track.
  • Leaders called for increased collaboration on energy and improving energy efficiency and for effective action to address climate change and mobilising finance for adaptation and mitigation, such as the Green Climate Fund.

Key Outcomes of the Tenth G20 Summit held at Antalya (15-16 November 2015) include :
  • At Antalya, press briefings by officials and outreach groups, as well as the leaders themselves, featured condemnations of the November 13 Paris attacks and Summit leaders issued a separate statement on terrorism.
  • The members once again committed to implementing sustainable and growth-inducing macroeconomic policies while aiming to lift the G20's collective gross domestic product by an additional 2% by 2018. In addition, they emphasized that growth must be inclusive, job-rich and beneficial to all of society.
  • The communiqué, published at the culmination of the Antalya Summit, delivered on the G20 leaders' promise to emphasize robust and inclusive growth while providing more and better quality jobs.
  • To pursue these objectives, the G20 leaders established an agenda based on Turkey's three Is: implementing past commitments decisively, boosting investments to drive growth and promoting inclusiveness to share the benefits of that growth. Achieving these would drive the world toward strong, sustainable and balanced growth that will increase the prosperity of all people.
  • While the G20 leaders reiterated their commitment to implementing old promises related to global economic development, they announced new promises related to investment, resilience and sustainability. Commitments related to investment included the development of country-specific investment strategies, guidelines and best practices for public-private partnership models, and supporting SMEs through a host of tools.
  • To further improve the resilience of financial institutions and overall financial system stability, the G20 leaders finalized the common international standard on total loss-absorbing capacity to help end the risk of financial institutions that are too big to fail.
  • Additional commitments to work on central counterparty resilience, recovery planning and resolvability were highlighted along with an endorsement of the measures developed under the joint project of the G20 and the Organisation for Economic Co-operation and Development on base erosion and profit shifting project to modernize the international tax system.
  • Sustainability featured as a crucial issue that emphasized climate change action and cooperation to support a successful outcome of COP21.
  •  G20 leaders endorsed the G20 and Low-Income Developing Countries Framework, the G20 Action Plan on Food Security and Sustainable Food Systems, the G20 Energy Access Action Plan: Voluntary Collaboration on Energy Access, and the G20 Toolkit of Voluntary Options for Renewable Energy Deployment.
  •  They also committed to reduce food loss and waste and emphasized the needs of smallholder and family farmers, rural women and youth.
  • In response to the refugee crisis, the G20 leaders committed to further strengthening their response and called on all states to contribute to that response. They also committed to improving preparedness for migration crises and called on states, the private sector and individuals to join international response efforts.
  • Finally, the G20 leaders acknowledged the internet economy and pledged to bridge the digital divide. They affirmed that no country should conduct or support the theft of intellectual property enabled by information and communications technologies (ICTs). The leaders highlighted the special responsibility of states to promote security, stability and economic ties with other states in the ICT environment.
Does G20 have a permanent secretariat and where is it located?
No, G20 does not have a permanent Secretariat.
Do non-member countries participate as special invitees in G20 SUMMITS?
Yes, The Presidency of the G20 invites non-member countries and institutions to attend Leaders' summit. The number of invited non-member countries in any year normally does not exceed five. Invitation is extended to give a fair and balanced geographical representation to non-members. Countries presiding over regional forums, such as the African Union, ASEAN, APEC, etc., are invited. In the Seoul summit held in November 2010, it was decided that among the five non-member invitees at least two must be from African countries. Non-member invitees attend Leaders' meetings and take part in the Finance Ministers' meetings. They are also involved in drafting of Summit decisions, and are invited to take part in the Working Group meetings.
Does G20 represent as a group in global issues of importance?
Yes.
Is there a record of all deliberations of G20 SUMMITS?
Yes. These records are available in the G20 Resource Center on the homepage of this website.
What is the G20 doing to address the global growth challenge?
G20 Leaders have set a target to lift the G20’s GDP by at least an additional 2 percent by 2018. To this end, G20 countries have developed comprehensive growth strategy for their respective countries. These are available at G20 Resource Centre (under the heading 2014 and sub-heading “Supporting Documents”
What is the G20’s Global Infrastructure Initiative?
The Global Infrastructure Initiative, is a multi-year work programme to lift quality public and private infrastructure investment aiming at promoting and prioritizing quality investment particularly in infrastructure through voluntary adoption of a set of leading practices. The initiative proposes to address data gaps and improve information on project pipelines to match investors with projects through establishment of a Global Infrastructure Hub, a knowledge-sharing platform, with a four-year mandate. The Hub is envisaged to develop a network between governments, the private sector, development banks and other international organizations and foster collaboration among them to improve the functioning and financing of infrastructure markets.
What are the G20 employment plans?
G20 Labour and Employment Ministers met in September 2014 and committed to strengthen their employment plans, with a focus on creating better jobs and boosting participation. To this end, each G20 country has prepared an employment plan containing their labour market outlook, employment challenges, current policy settings, new commitments etc. with a view to improve employment situation, reduce gender gap in work participation and reducing youth unemployment.
What is the G20 doing to curb corruption and promote transparency?
The G20 is implementing its Anti-Corruption Action Plan which is helping to strengthen the global response to corruption, including through actions to address bribery, improve whistle-blower protection, enhance transparency and strengthen international cooperation through increased adherence to international agreements such as the United Nations Convention Against Corruption. G20’s work on transparency cuts across the growth and resilience agenda, in particular members are addressing tax, investment and market transparency. The G20 also recognises that information transparency is important for countries at all stages of development.