India officially takes over G20 presidency from Indonesia after Summit in Bali

Indonesia on Wednesday handed over the G20 presidency to India for the coming year as the Bali summit of the grouping ended here with the member states finalising the joint declaration.

Indonesian President Joko Widodo handed over the G20 presidency to Prime Minister Narendra Modi, who said taking over the Presidency of the grouping is a matter of pride for every citizen in India.

"Together with every countries' efforts, we can make the G20 summit a catalyst for global welfare, Modi said.

The handing over ceremony comes at the conclusion of the two-day G20 summit which ended with the member states finalising the joint declaration.

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Foreign Secretary Vinay Kwatra said that India has contributed 'constructively' to drafting of G20 'outcome document'.

The G20 comprises 19 countries: 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 global GDP, 75 per cent of international trade and two-thirds of the world population.

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