India's G20 Presidency, which started on December 1, 2022, is special as for the first time the 'Troika' will comprise only developing countries that will set the agenda for two-thirds of the world population, representing around 85 per cent of the global GDP and over 75 per cent of the global trade.
The Troika is the format in which the G20 Presidency works, it comprises the country which is currently holding the Presidency, the country holding the Presidency earlier, and the country which will be the upcoming Presidency holder. This time India (current President), Indonesia (previous President), and Brazil (upcoming President) will form the Troika.
As developing countries continue to face several challenges, G20 will look to shape the world's agenda and lead toward global peace and stability.
India's participation in the G20 process stems from the realisation that as a major developing economy India has a vital stake in the stability of the international economic and financial system. India has been actively involved in the G20 preparatory process both at the Sherpas Track and the Financial Track since its inception.
Some of the key challenges developing countries face are climate change and food crisis.
The Group of Twenty, or G20, is the premier forum for international cooperation on the most important aspects of the international economic and financial agenda. It brings together the world's major advanced and emerging economies.
(ANI)