India will be assuming presidency of G20 in December this year for a period of one year.
The Ministry of External Affairs said in a release, “India will assume the Presidency of the G20 for one year from 01 December 2022 to 30 November 2023. Under its Presidency, India is expected to host over 200 G20 meetings across the country, beginning December 2022. The G20 Leaders' Summit at the level of Heads of Government is scheduled to be held on 09 and 10 September 2023 in New Delhi.”
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 be inviting 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.