India to assume G20 presidency for a year starting December

The G20 accounts for 85% of global GDP, 75% of international trade and two-thirds of the world population, the ministry said.

Saurav Anand
First Published13 Sep 2022
Prime Minister Narendra Modi at a G20 summit. (File Photo: Reuters)
Prime Minister Narendra Modi at a G20 summit. (File Photo: Reuters)

NEW DELHI: India will assume the presidency of the G20 (Group of Twenty) for a year starting 1 December 2022 and is expected to host over 200 meetings across the country during presidency tenure, the external affairs ministry said in a press release on Tuesday.

“The next G20 summit will be held in New Delhi on September 9 and September 10, 2023,” it said.

The G20 is an intergovernmental forum of the world’s major developed and developing economies. It comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, and the US, and the European Union.

The G20 presidency keeps rotating every year among member nations. The country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’.

“This would be the first time when the troika would consist of three developing countries and emerging economies, providing them a greater voice,” the MEA said in its release.

The G20 accounts for 85% of global GDP, 75% of international trade and two-thirds of the world population, the ministry said.

“India is currently part of the G20 Troika (current, previous and incoming G20 Presidencies) comprising Indonesia, Italy and India. During our Presidency, India, Indonesia and Brazil would form the troika. This would be the first time when the troika would consist of three developing countries and emerging economies,” the release said.

The ministry said that India will invite Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as Guest countries, as well as ISA (International Solar Alliance), CDRI (Coalition for Disaster Resilient Infrastructure) and ADB (Asian Development Bank) as Guest International Organisations.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
HomeNewsIndiaIndia to assume G20 presidency for a year starting December

Most Active Stocks

Tata Steel

179.85
10:29 AM | 21 JUN 2024
-2.5 (-1.37%)

Bharat Electronics

305.00
10:27 AM | 21 JUN 2024
-7.05 (-2.26%)

ITC

419.60
10:28 AM | 21 JUN 2024
-3.75 (-0.89%)

Vedanta

469.95
10:29 AM | 21 JUN 2024
-0.3 (-0.06%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Railtel Corporation Of India

476.20
10:27 AM | 21 JUN 2024
41.8 (9.62%)

Titagarh Rail Systems

1,584.25
10:29 AM | 21 JUN 2024
89.05 (5.96%)

Rail Vikas Nigam

409.70
10:28 AM | 21 JUN 2024
22.35 (5.77%)

Honasa Consumer

449.85
10:26 AM | 21 JUN 2024
23.5 (5.51%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,492.00959.00
    Chennai
    74,274.00164.00
    Delhi
    74,710.00816.00
    Kolkata
    74,856.001,323.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L0.06
    Chennai
    100.85/L-0.13
    Kolkata
    103.94/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanGet App