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India to hold G20 Chair in 2018, Delhi may play host

G20

India is set to be the G20 Chair in 2018, and New Delhi could host the prestigious annual G20 summit. The G20 member nations took a decision on the Chair for 2018 earlier in September. “China is chairing the G20 this time, following which Germany will in 2017 and then … the Chair will pass on to India for 2018.” The G20 operates as a forum and not as an organisation. Therefore, it does not have any permanent secretariat or management and administrative structure. One of the G20 countries is selected to hold the Chair in rotation, also known as ‘G20 presidency’.

About Group of Twenty (G20) :
G-20 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. It was 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 percent 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.

Members(G20):
Brazil, China, Russia, India, South Africa, Australia, Argentina, Canada, France, Indonesia, , United Kingdom (UK), United States (US) and European Union (EU) Germany, Italy, Mexico, Japan, Saudi Arabia, Turkey, South Korea