• The G20 representatives, attending the first foreign ministers’ meeting under South Africa’s presidency, reaffirmed the urgent need to reform the UN, including changes to the Security Council.

• India’s Minister of External Affairs S. Jaishankar participated in the G20 Foreign Ministers’ Meeting in Johannesburg.

• South Africa is hosting the G20 for 2025, with this meeting marking the beginning of a series of engagements scheduled throughout the year.

• As the premier forum for international economic cooperation, the G20 plays a critical role in steering the global economy through the significant challenges it faces.

• Jaishankar reaffirmed strong support for South Africa’s G20 priorities, emphasizing their alignment with India’s own advocacy during its presidency. 

• He highlighted the need for global cooperation to tackle pressing challenges such as food security, energy transitions, and women-led development.

• As South Africa advances its G20 presidency, Jaishankar expressed confidence in its leadership, emphasizing India’s commitment to global solutions through cooperation and sustainable policies.

What is G20?

• The G20 or Group of 20 is an inter-governmental forum of the world’s major developed and developing economies.

• It is the international forum that brings together the world’s major economies.

• The members of G20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, South Korea, Russia, South Africa, Saudi Arabia, Turkey, the UK, the US, the European Union (EU) and the African Union. 

• The African Union was included as a permanent member of G20. It was announced in the G20 Summit in New Delhi in 2023.

• India has been a member of the G20 since its inception in 1999. 

• The G20 members represent around 85 per cent of the global Gross Domestic Product, over 75 per cent of the global trade, and about two-thirds of the world population.

• South Africa’s G20 presidency commenced in December 2024, and South Africa will during the course of 2025 host approximately 130 working group meetings and 23 meetings at ministerial level. The year-long deliberations will culminate in a G20 Leaders Summit in November 2025.

Genesis of G20

• After the Asian Financial Crisis in 1997-1998, it was acknowledged that the participation of major emerging market countries is needed in discussions on the international financial system, and G-8 finance ministers agreed to establish the G20 finance ministers and central bank governors meeting in 1999.

• The G20 finance ministers and central bank governors meetings were centered on major economic and monetary policy issues amongst major countries in the global financial system and aimed at promoting cooperation toward achieving stable and sustainable global economic growth for the benefit of all countries. 

• The participating members in the meetings were the same as the current G20 members.

• Since then, finance ministers and central bank governors have met annually. 

• India hosted a meeting of G20 finance ministers and central bank governors in 2002.

• In November 2008, the inaugural G20 Summit was held in Washington, D.C. in response to the global financial crisis that occurred in the wake of the collapse of the Lehman Brothers. 

• The G20 meeting of finance ministers and central bank governors was upgraded to the head of state level, as a forum for leaders from major developed and emerging market countries. 

• In September 2009, the third summit was held in Pittsburgh where the leaders designated the G20 as the “premier forum for international economic cooperation”. 

• From thereon, the summit meetings were held semi-annually until 2010 and annually from 2011 onwards.

(The author is a trainer for Civil Services aspirants.)