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Why in the News?
Prime Minister unveiled the logo, theme, and website of India’s G20 presidency.
Key Points:
- Logo: The logo bears a lotus and the message of ‘Vasudhaiva Kutumbakam — One Earth, One Family, One Future’.
About G20:
- The G20 (or Group of Twenty) is an international forum for the governments and central bank governors from 19 countries and the European Union (EU).
- Founded in 1999 with the aim to discuss policy pertaining to the promotion of international financial stability.
- Members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States, and the European Union.
- It does not have any permanent secretariat.
- India has been a founding member of G-20.
- Collectively, the G20 economies account for around 90% of the Gross World Product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), two-thirds of the world population, and approximately half of the world land area.
