This will be the first such summit of the grouping to take place in India since its formation after the 2008 financial crisis.
India will host the G20 summit in 2023 and not in 2022, with a postponement of one year. Sources both in Saudi Arabia and Delhi confirmed the development that India will host the summit of the grouping of the 20 biggest economies in 2023.
Sources told WION, "It has been decided on the basis of consultations and mutual convenience that we will be hosting in 2021 after Italy and Indonesia"
This will be the first such summit of the grouping to take place in India since its formation after the 2008 financial crisis.
The Riyadh leader's declaration said, "We thank Saudi Arabia for hosting a successful Riyadh Summit and its contribution to the G20 process. We look forward to our next meetings in Italy in 2021, Indonesia in 2022, India in 2023 and Brazil in 2024"
India has already started preparation for the summit and building a secretariat as well for the summit meetings in Delhi. India's G20 Sherpa Suresh Prabhu last week told WION, "we have started the preparation, in full swing. It is led by our PM Modi, he is a very hands-on leader of the country and we are already working on a very high-tech, very state-of-the-art efficient secretariat in which there will number of ministries participating."
It was agreed at the Argentina G20 summit in 2018 that India will be hosting the summit in the 75th Independence anniversary year.
Speaking at the G20 summit that time, India's Prime Minister Narendra Modi said, "It's India's 75th Independence Day in 2022 & we had requested Italy if we can get '22 instead of '21 (for hosting G20 summit). They accepted our request, others accepted it too. I'm grateful & I invite leadership from across the world to come to India in 2022"
Italy and India had swapped the year for hosting G20 summit. In Asia, South Korea hosted G20 in 2010, followed by Turkey in 2015 and China in 2016 and next will be Indonesia.
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