Marking the ceremonial transfer of the G20 presidency, Prime Minister Narendra Modi has handed over the gavel to Brazilian President Luiz Inácio Lula da Silva, who hailed India for giving voice to topics of interests of emerging economies.

At the concluding session, Modi handed over the gavel and offered best wishes to Brazil for the presidency. Brazil officially will take over the mantle of the presidency on December 1 this year.

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Speaking on the occasion, Lula da Silva congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies. He also listed social inclusion, the fight against hunger, energy transition and sustainable development as G20 priorities.

Prime Minister Narendra Modi along with Brazilian President Luiz Inacio Lula da Silva at Rajghat in New Delhi

Prime Minister Narendra Modi along with Brazilian President Luiz Inacio Lula da Silva at Rajghat in New Delhi | Photo Credit: -

He said the UN Security Council needs new developing countries as permanent, non-permanent members to regain political strength. "We want greater representation for emerging countries at the World Bank and the IMF," he said.

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Review session in November

Modi proposed a virtual session of the G20 around the end of November to take stock of the suggestions and decisions made at the leaders’ summit. India’s presidency of G20 will would officially continue till November 30.

In his concluding remarks at the final session of the two-day G20 summit in New Delhi, the Indian prime Minister said, “In the last two days, you have put forward your views, given suggestions and a number of proposals have been put forward. It is our responsibility that the suggestions that have come forth are closely looked upon as to how they can be speeded up.”

“It is my proposal that we hold another session of the G20 virtually in November- end. In that session, we can review the issues that have been agreed upon during this summit. Our teams will share the details of it with all of view. I hope all of you will join this (session),” he said. “With this I declare the G20 summit as closed,” Modi said. He cited a Sanskrit shloka to pray for hope and peace in entire world.