India will assume the presidency for one year — from December 1, 2022 to November 30, 2023, the government said in an official announcement on Tuesday.
The inter-governmental forum of the world’s major developed and developing economies comprises 19 countries and the European Union. Apart from the member-states and international organizations which participate in the summit, India will also be inviting Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the UAE as guest countries, and the ISA (International Solar Alliance), CDRI (Coalition for Disaster Resilient Infrastructure) and the ADB (Asian Development Bank) as guest organizations. Bangladesh is the only immediate neighbour to make it to India’s guest list.
“Whilst our G20 priorities are in the process of being firmed up, ongoing conversations inter alia 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,” said the government in its announcement.
The G20 accounts for 85% of global GDP, 75% of international trade and two-thirds of the world population, making it the premier forum for international economic cooperation, said the government.
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, providing them a greater voice,” it said.