India will host G20 Summit in 2022

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Prime Minister Narendra Modi today announced that India is going to host the G20 Summit in the year 2022, when the country celebrates its 75th year of Independence.Modi made the announcement at the closing ceremony of the 2 day summit held at Buenos Aires (Argentina).

“In 2022 India completes 75 years since Independence. In that special year, India looks forward to welcoming the world to the G-20 Summit! Come to India, the world’s fastest growing large economy! Know India’s rich history and diversity, and experience the warm Indian hospitality,” PM Modi tweeted after making the announcement.

The G-20 (Group of Twenty) is a grouping of the world’s 20 major economies. It was started in the year 1999 as a meeting of finance minsiters and central bank governors of the world's major economies whose leaders first met in 2008 to help rescue the global economy from the worst financial crisis in seven decades.

G-20 members comprise 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.

Collectively, the G-20 economies account for nearly 90 per cent of the gross world product, 80 per cent of world trade, two-thirds of the world population, and approximately half of the world land area. Spain is a permanent guest invitee.

Chairman of G20 for 2018 : Mauricio Macri (Argentina)

Recent Hosts of G20 Summits :

• 2018 - Argentina 
• 2019 - Japan
• 2020 - Saudi Arabia
• 2022 - India.

Note : Italy was to host the G20 Summit in 2022. But it allowed India to play the host upon Modi's request. 

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