G20 logo unveiled by PM Modi: The significance of the lotus
The website, theme, and logo for India’s G20 presidency were unveiled by Prime Minister Narendra Modi on Tuesday. The slogan “Vasudhaiva Kutumbakam – One Earth, One Family, One Future” is displayed alongside a lotus in the logo.
In his remarks at the launch via video conference, the PM referred to the lotus as a symbol of hope.
Conflicts, a disruptive once-in-a-century disease, and serious economic uncertainty are still being felt on a global scale. In these trying times, hope is symbolized by the lotus in the G20 logo. No matter the circumstances, the lotus still blossoms, according to PM Modi.
India will succeed Indonesia as the G20’s powerful chair on December 1. Indonesia is the current chair. For one year, India will hold the ranking. The G20 Leaders’ Summit at the level of Heads of State/Government will take place in New Delhi on September 9 and 10, 2023.
India, the “mother of democracy,” would work to ensure that “there is only one globe, no first world or third world,” according to Prime Minister Modi.
What the G20 logo means
According to the prime minister, the insignia also expresses a message and a resolve.
This G20 logo conveys a message and stirs up feelings in us; it is more than just a sign. It is a resolve that is currently being considered, the prime minister stated.
The emblem, the prime minister explained, represents our conception of Vasudhaiva Kutumbakam (the entire globe is a family), on account of which India has always been a proponent of world peace. “Our Puranic heritage, our aastha (belief), and our boddhikta (intellectualism) are symbolized by the lotus flower,” he remarked.
What is G20?
In 1999, against the backdrop of the late 1990s financial crisis that mostly affected East Asia and Southeast Asia, the G20 was established. Middle-income nations were encouraged to participate in order to ensure global financial stability. Some of its significant members include Australia, Brazil, China, France, Germany, India, Japan, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, UK, US, and the EU. Spain is welcomed as a frequent visitor.
The G20, which represents and over two-thirds of the global total, and over 75% of global trade, and just under 85% of world Gdp, is the premier forum for international economic collaboration. India will conduct 200 meetings in 32 different businesses during its G20 Presidency at various locations around the nation. One of the most important international events to be hosted by India will be the G20 Summit, the Press Information Bureau (PIB) announced in a press statement on Monday.
Every year, members of the G20 rotate holding the president. To maintain the G20 agenda, the country in the presidency, along with the prior and following presidency-holders, constitute the “Troika.”
The troika will consist of Brazil, Indonesia, and India during India’s presidency. The troika would include three developing nations and rising economies for the first time, according to a previous statement from the Ministry of External Affairs.
How is the G20 organized?
There is no permanent secretariat for the G20. Amitabh Kant, a former CEO of NITI Aayog, has been named as India’s replacement for Piyush Goyal as the G20 Sherpa.
The G20 website states that discussions between the central bank governors and finance ministers were held “on the recommendation of the G7 Finance Ministers to address the reaction to the ensuing global financial crisis Since 1999, the finance ministers have gathered yearly.