U.S. President Donald Trump with Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe in Buenos Aires, Argentina on Nov. 30, 2018. AP/PTI

India To Host G-20 Summit In 2022, Says Prime Minister Modi

Prime Minister Narendra Modi has announced that India will host the annual G-20 summit in 2022, coinciding with the country's 75th anniversary of Independence.

Modi made the announcement at the closing ceremony of the two-day G-20 Summit on Saturday.

He thanked Italy for allowing India to play the host. Italy was to host the international forum in 2022.

"In 2022, India completes 75 years since Independence. In that special year, India looks forward to welcoming the world to the G-20 Summit! Come to India, the world's fastest-growing large economy! Know India's rich history and diversity, and experience the warm Indian hospitality," Modi tweeted.

The G-20 is a grouping of the world's 20 major economies.

G-20 members comprise Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States.

Collectively, the G-20 economies account for nearly 90 percent of the gross world product, 80 percent of world trade, two-thirds of the world population, and approximately half of the world’s land area.

Also read: G-20 Leaders Give Nod to Trump in Watered-Down Trade Language