The G20 was founded in 1999 after the Asian financial crisis of 1997-98 as an informal forum for the Finance Ministers and Central Bank Governors of the most important industrialised and developing economies to discuss international economic and financial stability
G20 is the premier forum for international economic cooperation and it plays an important role in shaping and strengthening global architecture and governance on all major international economic issues
The Group of Twenty (G20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and United States) and European Union
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The G20 was upgraded to the level of heads of state/government in the wake of the global economic and financial crisis of 2007, and in 2009, when it became apparent that the necessary crisis coordination would only be possible at the highest political level
The G20 Summit is held annually, under the leadership of a rotating Presidency. This time, the chair is held by India under the presidency of Prime minister Narendra Modi
The 18th G20 Summit in New Delhi, to be held on September 9-10, will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies
India has invited Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain and UAE as guest countries during its G20 Presidency
The G20 Presidency steers the G20 agenda for one year and hosts the Summit. The G20 consists of two parallel tracks: the Finance Track and the Sherpa Track. Finance Ministers and Central Bank Governors lead the Finance Track while Sherpas lead the Sherpa Track after Finance Track
The theme of India’s G20 Presidency - “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future” - is drawn from the ancient Sanskrit text of the Maha Upanishad
Brazil will continue working on ''action-oriented efforts'' for improving global culture after it receives the baton of the G20 rotating presidency following the summit in India, the South American nation's minister Margareth Menezes recently said