G20 provides great opportunity for lending healing touch to world in times of challenges: Amitabh Kant

G20 Sherpa and former NITI Aayog CEO Amitabh Kant (Illustration: Moneycontrol)

G20 provides a great opportunity for lending a healing touch to the world in times of challenges, Amitabh Kant, India's G20 Sherpa, said here on Tuesday.

The G20 or Group of 20 is an intergovernmental forum of the world's major developed and developing economies. India will assume the presidency of the powerful grouping from the current chair Indonesia on December 1.

G20 provides a great opportunity for lending a healing touch to the world in the times of challenges and take it back on the path of peace and prosperity, Kant said at an event organised by industry chamber PHDCCI.

Stressing that G20 is the right blend of developed and developing nations, he said with Indonesia holding the current presidency role, handing over the baton to India in December and then from India to Brazil shows that emerging markets will play a major role in the G20 Presidency.

PHDCCI President Saket Dalmia said the Presidency of the G20 is a watershed moment for India and the industry chamber would like to contribute in supporting the government in fulfilling its G20 agenda.

The G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).

The G20 summit is taking place on November 15 and 16 in Bali.

The G20 is the premier forum for international economic cooperation, representing around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.