India Assumes Presidency In G20, UN Security Council

NEW DELHI (Pakistan Point News / Sputnik - 01st December, 2022) India assumes the presidency of the G20 and the United Nations Security Council (UNSC) starting Thursday.

The G20 is an intergovernmental forum comprising 19 countries and the European Union. The forum accounts for 85% of the global gross domestic product, 75% of international trade and two-thirds of the world population. The G20 says it aims to address major issues pertaining to the global economy, including international financial stability, climate change mitigation and sustainable development.

India's presidency of the G20 begins on December 1 and will last till November 30, 2023, with around 200 meetings of the group at different levels expected to take place over the next year. The main event during the Indian presidency, the G20 summit, is scheduled to take place in the country's capital, New Delhi, from September 9-10, 2023.

India is also a member of the so-called G20 Troika, which includes Indonesia, the previous G20 president, and Brazil, which will take over the group's presidency in late 2023.�

Earlier in the year, Indian officials noted that the country's priorities for its upcoming presidency of the group would be global economic growth, issues with public debt, and food and energy security.

At the same time, India also assumes the presidency of the UN Security Council on Thursday, lasting until the end of the month. It is the second time New Delhi becomes the UNSC president since August 2021.

During India's tenure, a number of meetings on the fight against terrorism and reforms of the multilateral approach to global challenges is expected to take place, with Indian Foreign Minister Subrahmanyam Jaishankar presiding over the events.

The UN Security Council consists of five permanent members, including Russia, China, France, the United Kingdom and the United States, who hold veto power, and ten non-permanent members elected for a two-year term. For years, India has been seeking a permanent seat on the UNSC along with Brazil, Germany and Japan.