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Post at: Oct 12 2021

Piyush Goyal appointed as India’s Sherpa for G20

Why in News?

  • On 7th September,2021 Shri Piyush Goyal, Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, has been appointed as India’s Sherpa for the G20.
  • He replaced former Union Minister Suresh Prabhu.

More on News

  • While Prime Minister Narendra Modi leads India’s participation, the Sherpa is entrusted with steering negotiations with partner countries on policy issues on an ongoing basis while the leaders meet.
  • While Italy holds the presidency of the G20 formation, India will be holding the presidency from December 1, 2022.
  • The next G-20 Summit is scheduled for October 30-31, 2021 under Italian Presidency.
  • India will be part of the G-20 Troika (preceding, current, and incoming G-20 Presidencies) from December 1, 2021 till November 30, 2024.
  • India  will convene the G20 Leaders’ Summit in 2023.

G-20

  • The G20 is the international forum that brings together the world’s major economies. 
  • Its members account for more than 80% of world GDP, 75% of global trade and 60% of the population of the planet.
  • The forum has met every year since 1999 and includes, since 2008, a yearly Summit, with the participation of the respective Heads of State and Government.
  • In addition to the Summit, ministerial meetings, Sherpa meetings (in charge of carrying out negotiations and building consensus among Leaders), working groups and special events are organized throughout the year.
  • Apart from India, the G20 includes Argentina, Australia, Brazil, Canada, China, France, Germany, Japan, Indonesia, Italy, Mexico, Russia, South Africa, Saudi Arabia, Republic of Korea, Turkey, the U.K., the U.S. and the European Union. 
  • Spain is invited as a permanent guest.

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