Prime Minister Narendra Modi on Thursday arrived in Argentina's capital of Buenos Aires to attend the G-20 summit where he will discuss ways to meet the new and upcoming challenges of the coming decade with other world leaders, including US President Donald Trump.On the sidelines of the two-day 13th G-20 summit, Modi, Trump and Japanese Premier Shinzo Abe will hold a trilateral meeting amidst China flexing its muscles in the strategic Indo-Pacific region.
G-20 summit theme: (“Building Consensus for Fair and Sustainable Development”)
Purpose of G-20
- G-20 wants to promote multifaceted collaboration between the twenty largest economies of the world. Through ten years of its existence, the G-20 has tried to promote stable and sustainable global development.
- This objective holds special significance for emerging economies like developing countries and India.
- The G-20 is an important platform for the major economies of the world, who wants to develop global policies to address the biggest economic challenges of the present day.
- The G-20 group had played an important role in stabilizing the world economy since its formation. After which its agenda expanded to include additional issues affecting financial agencies, trade and development.
- Collectively, the G20 members represent all continents. They hold 85 percent of global economic output. They reside in two-thirds of the world's population and hold 75 percent of international trade.