What is the G20, whose presidency India is set to assume? What has PM Modi said about the new G20 logo? We explain.
Prime Minister Narendra Modi on Tuesday unveiled the logo, theme and website of India’s G20 presidency. The logo bears a lotus and the message of ‘Vasudhaiva Kutumbakam — One Earth, One Family, One Future’.
Speaking at the launch via video conferencing, the PM said the lotus is a symbol of hope.
The world is going through the after-effects of a disruptive once-in-a-century pandemic, conflicts and lot of economic uncertainty. The symbol of the lotus in the G20 logo is a representation of hope in these times. No matter how adverse the circumstances, the lotus still blooms,” PM Modi said.
India will assume the presidency of the powerful G20 grouping from the current chair, Indonesia, on December 1, and hold the post for a year. The G20 Leaders’ Summit at the level of Heads of State/Government is scheduled to be held on September 9 and 10, 2023 in New Delhi.
Calling India the ‘mother of democracy’, PM Modi said India’s efforts will be to ensure that “there is no first world or third world, but only one world.”
Significance of the G20 logo
The PM said the logo is not just a symbol, but a message and a resolve. “This G20 logo is not just a symbol, it is a message, an emotion running through our veins. It is a resolve, which is now being included in our thoughts,” the Prime Minister said.
What is G20
The G20 was formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular. Its aim was to secure global financial stability by involving middle-income countries. Its prominent members are: Australia, Brazil, China, France, Germany, India, Japan, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and the EU. Spain is invited as a permanent guest.
“G20 is the premier forum for international economic cooperation representing around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population. During the course of its G20 Presidency, India will be holding about 200 meetings in 32 different sectors in multiple locations across India. The G20 Summit to be held next year, would be one of the highest profile international gatherings to be hosted by India,” the Press Information Bureau (PIB) said in a press release on Monday.
The presidency of the G20 rotates every year among members, and the country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’ to ensure continuity of the G20 agenda.