India is going to chair Group of Twenty (G20) nation’s forum
in year 2018 and New Delhi could be the host of the prestigious annual G20
summit. This decision was taken by G20 forum earlier in September 2015 which
was chaired by Turkey. Turkey will hand over the Chair for the next year i.e.
2016 to China and in 2017 Germany is going to chair it. About Group of Twenty
(G20) G20 is the premier forum (It is not an organsation) for global economic
and financial cooperation. Being a forum it does not have any permanent secretariat
or management and administrative structure. Established: in 1999 as a meeting
of Finance Ministers and Central Bank Governors on member countries in the
aftermath of the 1997 Asian financial crisis. The forum brings together 20
nations that represent world’s major advanced and emerging economies,
representing around 85 per cent of global GDP. Presidency of the G20: Every
year one nation holds the chair of G20 known as Presidency which rotates
annually among its member groups. The presidency establishes a temporary
secretariat for the duration till it holds the Chair. Members: Brazil, China,
Russia, India, South Africa, Australia, Argentina, Canada, France, Indonesia,
Germany, Italy, Mexico, Japan, Saudi Arabia, Turkey, South Korea, United
Kingdom (UK), United States (US) and European Union (EU).
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