India’s G 20 Sherpa

2019 ias preliminary exam test series

Shri Shaktikanta Das, Former Secretary, Department of Economic Affairs, has been appointed as India’s G 20 Sherpa till December 31, 2018 for the Development Track of the G20.

There are two tracks in G 20- Finance Track and Development Track. Finance Track is managed by the Secretary (Economic Affairs) as India’s Deputy to G 20 and the Development Track is coordinated by the Sherpa. The Department of Economic Affairs will provide necessary support to the Sherpa.

The G20 (or G-20 or Group of Twenty) is an international forum for the governments and central bank governors from Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, United States, and the European Union.

Founded in 1999, the G20 aims to discuss policy pertaining to the promotion of international financial stability. It seeks to address issues that go beyond the responsibilities of any one organization.

The G20 heads of government or heads of state have periodically conferred at summits since their initial meeting in 2008, and the group also hosts separate meetings of finance ministers and foreign ministers due to the expansion of its agenda in recent years.

Membership of the G20 consists of 19 individual countries plus the European Union (EU). The EU is represented by the European Commission and by the European Central Bank. Collectively, the G20 economies account for around 85% of the gross world product (GWP), 80% of world trade (or, if excluding EU intra-trade, 75%), two-thirds of the world population, and approximately half of the world land area.

The Sherpas’ Track in the G20 focuses on political, development-oriented non-financial issues such as: agriculture; anti-corruption; development; employment; and energy.

The Finance Track in the G20 focuses on financial and economic issues; including monetary, fiscal and exchange rate policies, infrastructure investment, financial regulation, financial inclusion and international taxation.

Current Affairs for IAS Exam