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G20 praised India’s reforms

TNPSC Current Affairs July 9,2017

Group of Twenty (G20) has acknowledged the steps taken by India for sustainable and inclusive growth as well as support to global economy. It also praised the initiatives taken for promoting ease of doing business, start-up funding and labour reforms by India.

G-20 summit 2017 was held in Hamburg, Germany, which was chaired by Germany

About G-20: 

  • It is Group of 20 is an international forum which bring together worlds twenty leading industrialised and emerging economies to discuss key issues in the global economy. 
  • It also accounts of 85 % of worlds GDP and 2/3rd population. 
  • The G20 countries are Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Korea, Turkey, UK, US, China, South Africa and European union. 
  • G20 chairmanship will rotates annually between the nations, in 2016 G20 was chaired by China, this year it is chaired by Germany and in 2018 it will chaired by India.

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