This Article First Appeared In The Print On September 6, 2022.
The G20, an informal grouping comprising 19 states and the European Union (EU) came into existence in September 1999 at the level of finance ministers but was elevated to the level of the Heads of State in 2008. It both absorbed and superseded the G7 given the rapidly changing global economic context.
The United Nations, International Labour Organization (ILO), World Bank, International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), World Trade Organisation (WTO), and Financial Stability Board are invited to participate in pre-summit meetings. Civil society organizations think tanks, and labor and business groupings such as the C20, T20, L20, and B20 have their own parallel meetings.