India is going to host G-20 Summit first time ever. India is the member of G-20 group. Let us know about G-20:-

G-20 is an intergovernmental forum of 20 nations of the world, it comprises of 19 countris and European Union.the members are:-

Argentina, Australia, Brazil, Canada, China, France, Germany,3 Indonesia, India, Italy, Japan, Southas hampering the global economy Korea, Mexico, Russia, Saudia Arabia, South Africa, Turkey, United Kingdom, United States, European Union. G-20 was founded in the year 1999. It was created after there waere several world economic crises, in response to this G-20 was created.At that time several economic crises rose in emerging economies of the world, for. eg. Crisis in Mexico,Russia,USA. It was hampering the global economy.  G-20 could be said as the group of the most powerful nations on the earth. Member countries holds 80% of the GDP, 75% of world trade and also 60% of the world's population. Untill 2008 the members used to meet every year, since 2008, the annual summit started to take place.

India has been the member of this forum since it's commencement. In 2002, India chaired the G-20 forum and hosted G-20 Finance Ministers and C/entral Bank Governors meeting that year. India is the most important part of the G-20 group as India constitutes 17.7% of the world population , India's contribution to the world's GDP is currently at 6.77% and is only behind China and US.  India ranks 5th in World GDP. India is going to host 2023 G-20 Summit and also going to hold the Presidency of the group by 1 December, 2022. Union Commerce and Industry Minister of India, Piyush Goyal is going to be the India's Sherpa for the 2023 G-20 Summit. India is the emerging leader of the world and is now at the centre stage of the G-20 . India has played pivotal role in shaping the post COVID-19 world order with the robust leadership under Prime Minister Narendra Modi. India in 2020 identified the Australian Navy exercise in Malabar Coast Region gave the powerful signal to the China and world that India is fearless against China's ante and its military power and at same time maintaing the regional geopolitical situation. India's commitment to save its citizens by nearly vaccinating 1.2 billion population and as well as economic from the global pandemic and at same time fighting against climate change,geopolitical disturbance and terrorism made India the leader of the G-20 nations and the central stage of the world. So, this 2023 G-20 summit is going to be very important for the India and for the world too.