G20 Presidency Current Affairs - 2020

India to attend G20 Digital Ministers Meet

On July 22, 2020, the Union Minister of Information Technology Shri Ravi Shankar Prasad is to attend G20 Digital Ministers’ Meet.

Highlights

The Digital Economy Ministers Meet is hosted by Saudi Arabia. The Saudi Arabia Presidency has chosen the theme as

Theme: Realizing Opportunities of the 21st century for all

Under the theme, the ministers representing the G20 member countries will discuss the following

  • Empowering people by creating conditions where all people especially the youth and women can live, work and thrive
  • Safeguard the planet by fostering collective efforts to protect our global commons
  • To shape new frontiers by adopting long term strategies and share innovation and technological advancements.

G20

In order to achieve global economic growth, countries contributing more than 80% of global GDP came together in 2009 for international economic cooperation. The leaders met at Pittsburg. They held s Summit on Financial Markets and world Economy. It is now known as G20 Summit.

India attends third G20 Finance Ministers and Central Bank Governors meet

On July 18, 2020, Finance Minister Nirmala Sitaraman participated in third G20 Finance Ministers and Central Bank Governors meet. The meet was presided by Saudi Arabia.

Highlights

During the first meeting, India shared its G20 Action plan in response to COVID-19 that was endorsed by all the G20 finance ministers and central bank governors. During the third meet, India shared global economic outlook amid evolving COVID-19 crisis.

Discussions

India discussed two of the deliverables at the meet. One was about enhancing access to opportunities for women and youth. The other was about international taxation agenda related to digital sector.