Watch | PM Narendra Modi takes over G20 Presidency from Indonesia

G20 Presidency

Prime Minister Narendra Modi was handed over the presidency of G20 by Indonesian President Joko Widodo amid a spherical of applause, because the two-day bloc leaders’ summit in Bali got here to an in depth on Wednesday.

The Group of 20 main economies adopted a joint declaration and produced different partnerships, Widodo mentioned in his closing feedback. Later, he handed over the gavel of presidency to PM Modi. India will formally assume the presidency from December 1.

PM Modi mentioned India taking up the G20 presidency is a matter of pleasure for each citizen of the nation. “Together with every countries’ efforts, we can make the G20 summit a catalyst for global welfare,” he mentioned.

Foreign Secretary Vinay Kwatra mentioned India has contributed ‘constructively’ to drafting of G20 ‘outcome document’.

The G20 contains 19 international locations — Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the USA and the European Union (EU). Together, they account for over 80 per cent of the worldwide GDP, 75 per cent of worldwide commerce and two-thirds of the world inhabitants.

Chinese President Xi Jinping, US President Joe Biden, UK Prime Minister Rishi Sunak and French President Emmanuel Macron amongst others attended the three-day summit.

Ahead of his Bali go to, PM Modi had mentioned India’s G20 Presidency shall be grounded within the theme ‘Vasudhaiva Kutumbakam’ or ‘One Earth, One Family, One Future’.

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With inputs from businesses