G20 power of global 20 countries

The Group of Twenty (G20) is the major forum for international economic cooperation. It plays an important role in setting and strengthening global architecture and governance on all major international economic issues.

Issues like sustainable development, health, agriculture, energy, environment, climate change and anti-corruption were also added to it.

India will chair the G20 from 1 December 2022 to 30 November 2023.

@ 1999 Establishment of G20 @
The G20 was established in 1999 after the Asian financial crisis as a forum for finance ministers and central bank governors to discuss global economic and financial issues.

@2008 leader-level promotion@
The G20 was elevated to the level of heads of state/government in the wake of the 2007 global economic and financial crisis, and in 2009 was designated the "major forum for international economic cooperation".

The G20 summit is held annually under a rotating presidency. The G20 initially focused on macroeconomic issues, but later expanded its agenda to include, inter alia, trade, climate change, sustainable development, health, agriculture, energy, environment, climate change and anti-corruption.

G20 members

The G20 Presidency is responsible for bringing together the G20 agenda in consultation with other members and in response to developments in the global economy.

G20 members
The Group of Twenty (G20) consists of 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States)

Along with this, the European Union is the 20th member of this group. That means a strong group of European countries.

Apart from this, the President also invites some countries and organizations as guests every year. Like this time India has invited Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE.

G20 member states account for nearly 85% of global GDP, more than 75% of global trade and nearly 2/3 of the world's population.

Whichever country gets the presidency of G20, it organizes G20 meetings that year. He presents the agenda of the meeting.

Apart from this, G20 works on two parallel tracks. One is the Finance Track, in which the Finance Ministers of all the countries and the Central Bank Governors work together.