India's Modi to take over G20 summit's annual presidency

New Delhi will assume the rotational annual leadership of the forum as global leaders meet in Bali

India's Prime Minister Narendra Modi attends the G20 summit in Rome, last year. AP

Indian Prime Minister Narendra Modi will attend the G20 summit in Bali, Indonesia, where he is expected to hold discussions with other global leaders before taking over the presidency of the intergovernmental forum of the world’s major economies.

The G20, or Group of 20, comprises 19 countries and the EU, and aims to address major issues related to the global economy, financial stability, climate change mitigation and sustainable development.

The group was formed in 1999 and collectively represents 85 per cent of global gross domestic product, 75 per cent of international trade and two-thirds of the world population, making it the premier forum for international economic co-operation.

Indonesia, which currently heads the forum will host the 17th summit in Bali from November 14-16.

US President Joe Biden and Chinese leader Xi Jinping will also attend the summit.

The summit is being held under the theme "Recover Together, Recover Stronger”.

“Three working sessions will be held as part of the G20 Summit Agenda ― food and energy security, health, and digital transformation,” India’s foreign ministry said on Thursday.

Mr Modi will also hold bilateral talks with some of his counterparts and interact with the Indian community in Bali.

Indonesian President Joko Widodo will symbolically hand over the G20 presidency to Mr Modi at the closing session of the summit, the foreign ministry said.

New Delhi will assume the rotational annual presidency of the forum for a period of one year from December this year to November 2023.

It is expected to host over 200 meetings across the country, including the G20 leaders’ summit in the capital Delhi in September.

New Delhi plans to invite Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain and the UAE as guest countries at the summit.