India will host the G-20 summit in 2022.
PM Modi made the announcement at the closing ceremony of the 13th G-20 summit in Buenos Aires, Argentina.
What is G-20?
G-20 or group of twenty is an international forum that comprises G-7 nations, 11 EMS and smaller industrialised countries and the European Union.
G-20 accounts for 85% of world GDP and two-thirds of the population.
Countries in G-20
USA, UK, Canada, France, Germany, Italy, Japan, Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey and the EU.
What does it do?
The idea of G-20 is to promote global economic growth, trade and financial market regulation. The members of G-20 meet normally meet once a year.
Who attends the meeting?
The meeting is attended by government heads and central bank governors.
EU is represented by rotating council presidency and European Central Bank.
The next G-20 summit will be held in Osaka, Japan.