As the G20 Heads of State and Government Summit approaches, leaders from the world’s most influential nations are converging on New Delhi. This gathering, slated for September 9-10, includes not only the 19 largest economies worldwide but also the European Union as a collective entity.
The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States
These member countries, as disclosed by the Ministry of External Affairs, collectively contribute a staggering 85% of the global gross domestic product (GDP), facilitate over 75% of worldwide trade, and house approximately two-thirds of the global population.
In addition to its core members, the G20 extends invitations to guest countries each year, allowing them to partake in G20 meetings and the Summit itself. For the ongoing G20 presidency of India, the guest nations include Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain, and the UAE.
Impressively, the G20’s member states are home to a population exceeding 4.9 billion individuals, boasting an average life expectancy of 78 years and a median age of 39—a significant contrast to the global median age of 30.
India and China jointly account for more than 35% of the world’s population, with India contributing 17.85% and China 17.81%. The United States, while a G20 member, constitutes only 4.25% of the global population, ranking third. Indonesia follows as the fourth most populous G20 nation, representing 3.47% of the world’s populace.
Australia, on the other hand, with a mere 0.33% share, stands as the least populous among the G20 countries.
On the economic front, the G20, with its primary focus on international economic cooperation, collectively represents approximately 85% of the global GDP.
Furthermore, India has emerged as the fastest-growing economy among G20 nations, with an anticipated average GDP growth rate of 6.1% from 2023 to 2026. China follows at 4.4%, and Turkey ranks third with 3% growth, according to ANI news agency reports.
In terms of trade, the United States has assumed the position of India’s most substantial trading partner within the G20, with merchandise trade valued at $129 billion and a trade surplus of $27.7 billion. China follows closely as the second-largest trade partner ($113.8 billion), succeeded by Saudi Arabia ($49.9 billion) and Russia ($49.4 billion).
Additionally, the European Union, the sole regional group in the G20, is a prominent trade partner for India, with total merchandise trade reaching $135.9 billion and yielding a trade surplus of $13.8 billion.
As the G20 Summit gathers momentum, it is worth noting that there is no fixed headquarters for the G20, and the presidency rotates among its member nations. Following India’s tenure, Brazil is slated to take over the presidency in December.