For the first time ever, India to host the G20 summit in 2022

Monday December 03, 2018 , 2 min Read

The announcement was made by PM Narendra Modi during the closing ceremony of the current G20 summit in Buenos Aires.

Prime Minister Narendra Modi announced that India will host the annual G20 summit in 2022 for the first time ever. Coincidentally, it is also the country's 75th anniversary of Independence.

Narendra Modi made the announcement at the closing ceremony of the two-day G20 Summit that was taking place in Buenos Aires. He thanked Italy for allowing India to play the host as Italy was supposed to host the international forum in 2022.

"In 2022 India completes 75 years since Independence. In that special year, India looks forward to welcoming the world to the G20 Summit! Come to India, the world's fastest growing large economy! Know India's rich history and diversity, and experience the warm Indian hospitality," Modi tweeted after making the announcement.

https://twitter.com/narendramodi/status/1068933792247746561

What is the G20? The G20 is a grouping of the world's 20 major economies.

The member countries are Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US.

"Playing hosts in 2022! At the concluding session of #G20Argentina, PM @narendramodi announced that coinciding with our 75th anniversary of independence, India will host the #G20Summit in 2022," External Affairs Ministry spokesman Raveesh Kumar tweeted.

Collectively, the G-20 economies account for nearly 90 percent of the gross world product, 80 percent of world trade, two-thirds of the world population, and approximately half of the world land area.

The collective began in the year 1999 as a meeting of the world's top economies. Earlier, it used to be a confluence of only the finance ministers and central bank governors, but during the economic crisis of 2008, the leaders of these countries met to save the world from falling to ruins during its worst financial crisis.