The Role of G20 in Shaping Global Economic Policies
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Abstract
The Group of 20 (G20) serves as the premier forum for international economic cooperation, playing a crucial role in shaping and strengthening the economic conditions of member countries with support from international organizations such as the IMF, WTO, and World Bank. Beyond economic development, the G20 addresses issues related to health, environmental and climate change, financial regulation to mitigate future financial crises, and overall sustainable development. India holds the G20 presidency from December 1, 2022 to November 30, 2023 under the theme "Vasudhaiva Kutumbakam" or "One Earth, One Family, One Future." This summit emphasizes increased opportunities for business activities. Nations worldwide are leveraging this platform to boost their economies through international business, now an essential component of their economic policies. International business encompasses global trade of goods, services, and investments. This paper, based on secondary data, highlights the significance of the G20 summit and its impact on international business.
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References
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