The G20 is an apt model for global cooperation in today’s world. Its response to the global financial crisis is a testament to the impact G20 members can make when working together. The G20 introduced trillions of dollars in fiscal stimulus packages worldwide, which saved or created millions of jobs that would otherwise have been destroyed. It also put in place measures to limit the collapse of financial markets and helped maintain consumer and business confidence.

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G20 Summit – India's Takeaways
The Group of Twenty (G20) is the premier forum for its members' international economic cooperation and decision-making. Its
membership comprises 19 countries and the European Union. Every year these member countries meet to discuss issues ways to
strengthen the global economy, reform international financial institutions, improve financial regulation and implement the key
economic reforms that are needed in each member economy.
Why are they Important?
 Represents about two-thirds of the world's population
 85 per cent of World GDP
 75 per cent of global trade
Top Priorities of the Summit
Measures to support global economic growth
 Promotion of job creation
Open trade
Measures to lift their collective growth by an extra 2.1% by 2018
 Rehabilitate sluggish global economies
 Address a $70 trillion gap in infrastructure needed by 2030
 Adding US$2 trillion to the global economy and create millions of jobs
 Cutting red tape and matching private investment with capital projects
 Strengthening the international tax system
 Strengthening energy markets
 Fighting corruption
India's Takeaways
 Global Infrastructure Hub in Sydney to benefit India avoiding dependence on either Western or Chinese-dictated terms in the
AIIB and World Bank
 Further liberalization of trade in services
Higher growth as global market opens up
 Strengthen public investment and create a more favourable climate for private sector investment in infrastructure
 Cutting the costs of remittances
 Long-pending governance and share holding reform of the global institutions such as the World Bank and the International
Monetary Fund
 A new global transparency standard that will modernize international tax rules and allow automatic exchange of related
information between governments to curb illicit outflow of money estimated at over $1 trillion annually.
 Ensuring 25 percent jobs for women.
By Rahul Choudhury
Media Team – Fiinovation