India to assume G20 Presidency, host summit in September 2023

India is all set to assume the Presidency of the G20 for one year from December 1, 2022, succeeding Indonesia, the Ministry of External Affairs said in a press release on Tuesday.

Forum of largest economies

The G20 (Group of Twenty) is an intergovernmental forum of the world’s largest economies accounting for 85% of the GDP, 75% of worldwide trade, and two-thirds of the global population. The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and the European Union (EU).

The Latest

India will host the G-20 leaders’ summit in New Delhi on September 9 and 10 in 2023 under its Presidency, the Ministry of External Affairs (MEA) announced Tuesday. In the run-up to the summit, India is expected to organize 200 meetings across the country starting in December. The Ministry of External Affairs in a statement said: “Ongoing conversations…revolve around inclusive, equitable and sustainable growth; LiFE (Lifestyle For Environment); women’s empowerment; digital public infrastructure and tech-enabled development in areas ranging from health, agriculture and education to commerce, skill-mapping, culture and tourism; climate financing; circular economy; global food security; energy security; green hydrogen; disaster risk reduction and resilience; developmental cooperation; fight against economic crime; and multilateral reforms.”

Summit in November

Indonesia, the current holder of the G20 Presidency, will host the G20 Summit in Bali in November this year before handing over the reins to India. India earlier swapped the Presidency twice—with Italy in 2021 and with Indonesia in 2022. As per media reports, Indonesia has invited Russia and Ukraine—which are embroiled in a conflict—to the summit, which has sparked tensions among other members in preparatory meetings.

Amitabh Kant: New G20 Sherpa

Until July, Union minister Piyush Goyal was India’s G20 representative—also known as Sherpa. However, former NITI Aayog CEO Amitabh Kant was appointed the new Sherpa the same month and will preside over meetings regarding the G20 agenda until the presidency is handed over to Brazil after November 2023.

India to invite Bangladesh, Egypt, UAE, among others

According to MEA sources, India will be inviting Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and UAE as Guest countries. Spain is included in the G20 as a “permanent guest.” Apart from its members, the G20 Summit has a tradition of inviting guest countries and international organizations like the United Nations (UN), International Monetary Fund (IMF), and World Bank, among others.

G20 Troika

The Presidency of the G20 is rotated every year among the members. Notably, the previous, current, and upcoming members to hold the presidency form the “G20 Troika.” Once India assumes the G20 Presidency, the troika will, for the first time, comprise all developing countries—namely Indonesia, India, and Brazil, respectively. This will provide the emerging economies a greater voice, the MEA said in its release. Take a look at MEA’s press release on G20 Presidency