Indonesian President Joko Widodo officially handed over the G20 presidency to India on November 16 this year at the summit in Bali. The year-long presidency assumed by India comes at a time when the world is struck with uncertainties about recovery from a pandemic-hit economy. Prime Minister Narendra Modi, in a series of tweets, highlighted the country’s commitment towards resolving challenges of “climate change, terrorism and pandemic” through international cooperation.
The main objectives of G20, according to the Council on Foreign Relations (CFR), includes policy discussion and coordination on economic and financial issues around the globe. However, over the years, the meeting has extended its aims to cover global terrorism, health and sustainable development.
The leadership of G20 rotates annually among nations, where the President nation determines the agenda of the summit held every year. Non-members, namely, the International Monetary Fund (IMF), the World Bank, the United Nations (UN), World Trade Organization (WTO), among others participate regularly in the G20 proceedings.