“India and G-20”

A Project Submitted
To

ARMY INSTITUTE OF LAW, MOHALI

By
Roshani Sahu (1847)

Under The Guidance

Of
Ms. Ekjyot Kaur Gujral (Economics)

In The Partial Fulfillment of the Requirement for the

Award of Degree of BA LLB

Punjabi University, Patiala, Punjab

Submission Year: January-May 2020
 DECLARATION

It is certified that the project work presented in this report “India and
G-20” in Political Science embodies the result of original research
work carried out by me. All the ideas and references have been duly
acknowledged by me.

Date: 3rd March, 2020 Name: Roshani Sahu

Place: Mohali (1847)
 ACKNOWLEDGEMENT

This project work would not have been possible without the kind
support and help of my teacher Ms. Ekjyot Kaur Gujral. I would like
to extend my sincere gratitude to her for giving me the opportunity to
do this project on a topic which is not only enriching and interesting
but also a means to increase my patience and hard work. I am also
highly indebted to Army Institute of Law and the library staff for their
guidance and constant supervision as well as for providing the
necessary information regarding the project and also for their support
in completing the project.

I would like to express my gratitude towards my parents and friends

for their kind co-operation and encouragement which helped me in
completion of this project.

Thank You
LIST OF CONTENTS
 INTRODUCTION

The G20 Summit is formally known as the ‘Summit on Financial Markets and the World
Economy’. As the ‘premier forum for international economic corporation’ accounting for
more than 80% of the global GDP, the GDP has made sustained efforts towards bringing
robust global economic growth.

The recent summits of G20 not only focus on macro economy and trade but also focus on
global issues which directly or indirectly impact the global economy. Some of the examples
include health, migration and refugees, climate change and energy, water crisis, terrorism,etc.

The G20 has sought to realize an inclusive and sustainable world through its contributions
towards resolving these global issues.

What is G20?

 G20 is an international forum that brings together the world’s 20 leading

industrialized and emerging economics.
 It consists of 19 countries and the European Union
 It is a forum for economic, financial and political cooperation.
 It seeks to address the major global challenges and generate public policies that
resolve them.

The G-20’s mandate was to help shape the international agenda, to discuss economic and
financial issues in areas where consensus had not yet been achieved, and to “lead by
example.” In particular, the Group was seen as an important forum for the discussion of ways
to prevent and resolve international financial crises. A significant early achievement was its
endorsement of internationally accepted standards and codes aimed at improving economic
and financial transparency and strengthening financial systems. Following the 6 September
2001 terrorist attacks in the United States, member countries took a forceful stand against the
financing of terrorism and encouraged all countries to follow suit. G-20 discussions also
contributed to the introduction of collective action clauses in international bond contracts,
and to the adoption of an informal code of conduct between major sovereign borrowers and
lenders. Most recently, the Group has become an important venue for discussing quota
reform and representation at the International Monetary Fund.

The G20 comprises Argentina, Australia, Brazil, Canada, China, EU, France, Germany,
India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea,
Turkey, UK and USA. The G20 Countries together represent around 90% of global GDP,
80% of global trade, and two thirds of the world’s population.