We all know that India held the 2023 G20 Summit from 9-10 September in New Delhi. But what is G20? Why it is so important? How it's beneficial to us? To answer all these questions we need to go back in the history. In 1973, western countries were food inflation. But what was the reason? The reason behind this lies in 1967, when Arab nations specially Syria and Egypt during the 3rd Arab-Israeli war attacked Israel, but Israel was able to win the war. After 6 years in 1973, Israel faced retaliation by Egypt and Syria, which is famously known as the Yom Kippur War. During that war, the president of United Nations, Nixon came in support of Israel. Because of which the Western nations started facing an oil embargo by the Arab countries. This resulted in food inflation and the Western nations started facing economic instability and economic recession which had a spill over in all over the world with deteriorated economic conditions. In regard to this problem, 4 Western countries the US, the UK, Germany, and France came together to form tackle this problem by making economic polices and started holding informal meetings in the white House. In 1973, the included Italy and Japan and again in 1976, they invited Canada in the group. This group of 7 countries with advanced economies was called G7 nations. 22 years ahead, the group included Russia and became G8 but Russia made these things clear about no interference in its backyard. But Russia attacked Crimea because of which the G8 kicked out Russia from their group and became G7 again. In 1997 the Asian contagion occurred and the currency devaluation started spreading across Asia. 

This effect was seen in all over the world and the G7 realised that globalisation has interconnected all the worlds and negative effect in one country can impact others as well. So they thought of expansion and added 5 more countries to their group based on the criteria of largest population and economy, these countries were Brazil, South Africa, India, China and Russia. For their third criteria, they included countries which had strength in their own area among which were Mexico, Argentina, EU, Turkey, Saudi Arabia, Indonesia, South Korea and Australia. 

Finally, in 1999, G20 was formed whose orientation was the betterment of economic policies. In 2008 global financial crisis started and the central bank governors and financial ministers realised that only focusing on the economy is not beneficial but also needed to focus on the evolving topics. After that, the G20 meetings started to be called as Summit. They expanded their agenda including climate change, counter-terrorism, all the important global problems. But what is the clout of this group? They form 85% of world GDP, 75% of world trade, 70% of world's population and and the countries are from all over the continents.

In 2008, the first meeting of the G20 summit was held in America and it was declared that all the 20 countries would get presidentships on rotational basis except the US. Talking about Troika, it is an informal group not a permanent secretariat which helps in implementation. Presently it consists India, Indonesia and Brazil and all of them are developing nations. Now let us know about the 3 tracks which consist finance track, sherpa track and engagement groups. Till 2008 finance track meeting was held which included the central bank and finance minister. Sherpa Track is an official who is responsible for reporting to the prime minister. 

In 2023, Amitabh Kant was appointed for this post. The engagement group engages in different stakeholders which includes B20, Civil 20, T20, Youth 20, Women 20, Labour 20, and Bilateral talks. Talking about the initiatives taken under India's presidentship is the inculcation African union under G20, the Global Biofuel Alliance, Global Health- one health approach, Millet trilogy, Digital infrastructure, Fair and sustainable tax system, Revival of black seed grain, India -Middle east- Europ economic corridors " modern spice route". Let us go through the significance of each initiative. PM Narendra Modi invited AU president Azali Assoumani to join world leaders. But the question remains how can we invite other countries? The president country has the benefit of inviting other countries to the summit. 

Significance of inculcation Africa Union under G20:

1. It has the potential to amplify the global south's voice and bring it into prominence.
2. At a global level, it embodies India's principle of "Sabka Saath, Sabka Vilas," advocating inclusivity.
3. Economically, it provides India with access to Africa's abundant resources.
4. This opportunity allows India to counter China and explore new investment prospects.
5. Geographically, due to its proximity to Africa's horn, it holds significant geostrategic importance.
6. In terms of geopolitics, this move strengthens India's voting bloc in the UN and garners increased support for its bid as a permanent member of the UNSC.

Significance of India-middle East -Europe economic corridor "Modern Spice Route": 

To counter the Chinese initiative of OBOR, this approach will serve as a catalyst for increased trade and investment from West Asian countries. Additionally, it will provide a faster and more economical rail transit option between West Asia and Europe. Furthermore, it will help bypass the congested Suez Canal that cargo ships currently rely on.

Significance of revival of black seed grain initiative: 

India's announcement to end the war projected its image as a nation that values peace. They chose not to condemn Russia, which symbolized their commitment to an independent foreign policy.

Significance of a fair and sustainable tax system:

Since 2013, there have been estimates suggesting that global corporate income tax revenue has been experiencing annual losses ranging from 4 to 10 percent. This translates to a significant amount of money, approximately $100-$240 billion each year.

Significance of biofuel alliance:

1. The projection of leadership, such as the International Solar Alliance (ISA), plays a vital role in driving global initiatives.
2. A crucial goal is to work towards achieving net zero carbon emissions by 2070, ensuring a sustainable future for our planet.
3. India's role in leading the world towards energy transition cannot be underestimated, as it actively contributes to renewable energy efforts.
4. On the domestic front, India stands as one of the largest rice producers; however, it faces challenges such as the problem of stubble burning that need to be addressed.

Significance of Millet Trilogy:

The year 2023 has been officially declared by the United Nations as the international year for millet, a significant recognition for this nutritious grain. On another note, India recently hosted a vegetarian dinner for G20 leaders, showcasing their culinary expertise by incorporating millet into the menu. This is not surprising considering that India holds the title of being the largest producer of millet and the second largest exporter. Millet is truly a superfood grain, known for its gluten-free properties and its ability to thrive in challenging conditions such as marginal land with limited water availability. Its versatility and nutritional value make it an invaluable addition to any diet.

Significance of Digital infrastructure: Firstly, it can contribute to bridging the digital divide, ensuring equal access and opportunities for all individuals. Additionally, it can support Indian initiatives like UPI in gaining global recognition and acceptance. Furthermore, adhering to these guidelines can aid in addressing the issue of biopiracy within intellectual property rights. Lastly, it can play a significant role in enhancing digital literacy among the population. 

Significance of global health:

1. Adherence to Manhattan principles.
2. Being cautious after COVID-19 Bioaccumulation and biomagnification.

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