Shri Piyush Goyal appointed as India’s G20 Sherpa | Daily Current Affairs 2021

Shri Piyush Goyal appointed as India’s G20 Sherpa

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Shri Piyush Goyal

India’s G20 Sherpa: Shri Piyush Goyal, Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, has been appointed as India’s Sherpa for the G20.

Highlights:

  • G20 is a major international grouping that brings together 19 of the world’s major economies and the European Union.
  • Its members account for more than 80% of global GDP, 75% of global trade, and 60% of the global population.
  • The next G20 Summit is scheduled for 30-31 October 2021 under the Italian Presidency.
  • Prime Minister Modi has been leading India’s representation at G20 Summits since 2014.
  • India has been a member of the G20 since its inception in 1999.
  • India will hold the G20 Presidency from December 1, 2022, and will also convene the G20 Leaders’ Summit in 2023 for the first time.
  • India will also be part of the G20 Troika (preceding, current, and incoming G20 Presidencies) from December 1, 2021, to November 30, 2024.

About G20 (or Group of Twenty):

  • The G20 means the Group of Twenty.
  • It is an international forum for the governments and central bank governors from 19 countries and the European Union (EU).
  • The membership of the G20 consists of 19 individual countries plus the European Union.
  • The members of the G20 group are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, the United Kingdom, the United States and the European Union (EU).
  • The EU is represented by the European Commission and by the European Central Bank.
  • It was established on 26 September 1999 with an aim to discuss policy pertaining to the promotion of international financial stability. 
  • The objective of G20 is to unite world leaders around shared economic, political and health challenges.
  • The current Chairman of G20 Mario Draghi (2021).

Who is a Sherpa in G20?

  • Sherpa is the personal representative of the head of state or government who prepares an international summit, especially the annual G7 and G20 summits.
  • Sherpa is generally influential, but they do not have any authority to make the final decisions regarding any given agreement.

Note: The name is derived from the Sherpa people, a Nepalese ethnic group, who serve as guides and porters in the Himalayas, a reference to the fact that the sherpa clears the way for a head of state at a major summit.

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