India Joins G20 Troika, To Host Summit In 2023

The G20 Troika is a group of three countries that serve as finance ministers and central bank governors of the world’s 20 major economies. The group has existed since 2011 when it was created to provide guidance on global economic management.

India Joins G20 Troika

Indian Finance Minister Arun Jaitley was quoted as saying "With India's growing prominence in the global arena, it is natural for us to take our place in the leading group of nations. The time is right for India to host this conference." This falls in line with the country's plan to become a superpower by 2035.

Why is India Joining G20 Troika?

India is now one of the G20 troika, with China and Brazil. India will now host the 2023 summit for this group, which includes 19 countries and the European Union. This is a big change for India, which has traditionally been on the periphery of global economic cooperation.

What are the benefits of being part of G20 Troika?

India will join the G20 troika--along with Argentina, Brazil, and France--in 2023. India is the latest addition to the group of three countries, which was formed in 2016 to organize G20 summits. The troika meets regularly to coordinate summit agendas and to prepare for the three-yearly Summits, often by drawing up a draft Program of Work (PoW). There are numerous benefits for India becoming part of the Troika. One of them is that it has an increased voice in global economic affairs.

What are the implications of joining G20?

G20 is the premier forum for cooperation among the world's major economies. It was established in 1999 with the aim of working together to pursue economic growth and global stability. The Indian government has been invited to be part of G20 as its newest member, which will hold its first summit in India in 2023. G20 countries represent 85% of the world's GDP and two-thirds of its population.

Conclusion

This is the first time in the G20’s history that a country has been invited to take part in their meetings before it has reached its full economic capacity. India is the world’s fastest growing economy and will be hosting 2023's summit, which will provide an opportunity to discuss and review international strategy and global governance for trade and investment.

India Joins G20 Troika: 5 Points

1. India will host the G20 Summit in 2023 

2. This is the first time in G20 history that a country has been invited to take part before it reaches its full economic capacity 

3. The world's fastest growing economy 

4. This provides an opportunity for discussion and review of current international

Photo for representation. PTI



Post Credit: Digitally Partner 

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