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#important International Organisations | SSC & UPSC Prelims | With Memory Tricks by Dr. alok kumar
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g-20
The G20 or Group of 20 is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.[3]
The G20 is composed of most of the world's largest economies' finance ministries, including both industrialised and developing nations; it accounts for around 80% of gross world product (GWP),[4] 75% of international trade,[b] two-thirds of the global population,[5] and 60% of the world's land area.
The G20 was founded in 1999 in response to several world economic crises.[6] Since 2008, it has convened at least once a year, with summits involving each member's head of government or state, finance minister, or foreign minister, and other high-ranking officials; the EU is represented by the European Commission and the European Central Bank.[7][8][c] Other countries, international organizations, and nongovernmental organizations are invited to attend the summits, some on a permanent basis.
G7
The Group of Seven (G7) is an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States; additionally, the European Union (EU) is a "non-enumerated member." It is organized around shared values of pluralism, liberal democracy, and representative government.[1][2][3] As of 2020, G7 members are large IMF advanced economies and account for over half of global net wealth (at over $200 trillion),[4] 30 to 43 percent of global gross domestic product,[n 1] and 10 percent of the world's population (770 million people).[5] Some members are great powers in global affairs and maintain mutually close political, economic, diplomatic, and military relations.
BRICS is an acronym for five regional economies: Brazil, Russia, India, China, and South Africa. The first four were initially grouped as "BRIC" (or "the BRICs") in 2001 by Goldman Sachs economist Jim O'Neill, who coined the term to describe fast-growing economies that would collectively dominate the global economy by 2050; South Africa was added in 2010.[1]
The BRICS have a combined area of 39,746,220 km2 (15,346,100 sq mi) and an estimated total population of about 3.21 billion,[2] or about 26.7% of the world's land surface and 41.5% of the global population. Brazil, Russia, India, and China are among the world's ten largest countries by population, area, and GDP (PPP), and the latter three are widely considered to be current or emerging superpowers. All five states are members of the G20, with a combined nominal GDP of US$28.06 trillion (about 26.6% of the gross world product), a total GDP (PPP) of around US$56.65 trillion (32.5% of global GDP PPP), and an estimated US$4.46 trillion in combined foreign reserves (as of 2018).[3][4]
The BRICS were originally identified for the purpose of highlighting investment opportunities and had not been a formal intergovernmental organization.[5] Since 2009, they have increasingly formed into a more c
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