India will host the annual G-20 Summit in 2022 coinciding with the country’s 75thanniversary of independence. Prime Minister Narendra Modi made the announcement at the closing ceremony of the 13th G-20 Summit in the Argentinian capital Buenos Aires on 1st December 2018.
The second Russia-India-China ‘RIC’ Trilateral Summit also took place in the Argentinian capital after a gap of 12 years.
Leaders of India, China and Russia called for reforming multilateral institutions, including the United Nations (UN) and the World Trade Organization (WTO), as they understood the benefits of a multilateral trading system and an open world economy for global growth.
It was also the first meeting among the three leaders of Japan, India and USA.This came in the backdrop that Japan, India and USA are also engaged in Quadrilateral Security Dialogue in parallel with joint military exercises of an unprecedented scale, called Exercise Malabar.
Prime Minister Narendra Modi presented a nine-point programme on ways to take action against fugitive economic offenders.
G20 is an international forum for the governments and central bank governors from 19 countries and the European Union, formed on 26 September 1999 to discuss policies relating to financial stability.
Its agenda was expanded since 2008 including heads of governments / heads of states as well as finance ministers and foreign ministers.