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Saudi Arabia hosted the 15th annual G20 Leaders' Summit on November 21 and 22, 2020 in its capital Riyadh.

Theme of the Summit is - "Realising the opportunities of 21st Century for all"

Highlights

• The focus of  G20 Summit was an inclusive, resilient, and sustainable recovery from the COVID-19.
• The agenda of the Summit was focused on overcoming the pandemic, economic recovery and restoring jobs, and building an inclusive, sustainable and resilient future.
• PM called for a new Global Index for the Post-Corona World that comprises four key elements 

•  Creation of a vast Talent Pool.
• Ensuring that Technology reaches all segments of the society.
• Transparency in systems of governance.
• Dealing with Mother Earth with a spirit of Trusteeship

India will enter the G20 troika (a three-member country committee chaired by the current summit presidency) along with Saudi Arabia when Italy will take over the G20 presidency on December 1

What is the G20?

• ​​​​​​​​​​​The Group of Twenty, or the G20, is the premier forum for international economic cooperation.
• The G20 brings together the leaders of both developed and developing countries from every continent. ​
• Collectively, G20 members represent around 80% of the world’s economic output, two-thirds of global population and three-quarters of international trade.
• Throughout the year, representatives from G20 countries gather to discuss financial and socioeconomic issues.​

History of  ​the G20

• Originated in 1999 at the level of Finance Ministers and Central Bank Governors, the G20 gathered for high-level discussions on macro-financial issues.
• In the wake of the 2008 global financial crisis, the G20 was elevated to include the leaders of member countries.
• The first G20 Leaders’ Summit took place in Washington D.C. in November 2008.
• Consequently, the G20 agenda expanded beyond macro-financial issues, to include socio-economic and development issues.