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Jammu and Kashmir will host G-20 summit next year

Tags: Summits State News

The Government of India has chosen the Union Territory of Jammu and Kashmir as the venue for hosting the G20 leaders’ summit in 2023. India will hold the G20 presidency from December 1 this year and convene the G20 leaders' summit in 2023 for the first time.

• The 2022 summit will be held in Indonesia.
• This will be the first major international summit event to be held in Jammu and Kashmir after the Narendra Modi government changed the status of Jammu Kashmir from a State to an Union Territory .
• It is seen as a message by India to the world that Jammu and Kashmir is transforming for a better tomorrow and to showcase that the situation on the ground has changed in the past three years and there is an atmosphere of peace in general now.
• Commerce and industry minister Piyush Goyal was in September last year appointed India's Sherpa for the G20.
• The Jammu and Kashmir government has set up a five-member "high-level committee" for overall coordination for the proposed events with the Union government.
• According to the External Affairs Ministry, India will be part of the G20 Troika (preceding, current, and incoming G20 Presidencies) from December 1, 2021 till November 30, 2024.

G-20 Group 

• Group of 20 or G-20 is a multilateral organisation which was set up in 1999.
• It consists of the world's major developed and developing countries.
• It consists of 19 countries and the European Union. The  19 member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States.
• The presidency of the G20 rotates every year among its members, with the country that holds the presidency working together with its predecessor and successor, also known as Troika, to ensure the continuity of the agenda. Currently Italy, Indonesia, and India are the Troika countries.
• Italy was the President of the G-20 in 2021. Indonesia is the President for 2022 and India will be the President in 2023. 
• The first Summit meeting of the leaders of the G-20 was held in 2008 at Washington, United States.
• The G20 has no permanent secretariat.
• G-20 members constitute 60% of the world population, 80% of the World economy and 75% of world trade.