STRONG CLOUT

Home to two-thirds of the world’s population, the G20 member countries generate more than 85 per cent of the global GDP, so though their decisions are not binding, they have enough influence to bring about reform at an international level.

MODUS OPERANDI

For most people, the G20 is equated with the summit of the heads of state and government. However, the leaders’ summit is only the culmination of numerous meetings held during the year, where different issues are discussed in depth and most of the groundwork is laid. All discussions of the different working groups are coordinated by Sherpas, who are personal representatives of the G20 leaders. India’s Sherpa is Arvind Panagariya, vice-chairman of NITI Aayog. The most prominent part of the G20 is the finance track, consisting of finance ministers and central bank governors, which takes care of financial issues. But other ministers also meet to discuss other issues.