PM Modi Hands Over Presidency Of G20 To Brazil, Says Institutions Of World Need To Change As World Changes

New Delhi: Prime Minister Narendra Modi on Sunday handed over the gavel to Brazilian President Luiz Inácio Lula da Silva marking the ceremonial transfer of the G20 presidency. Silva hailed India for giving voice to topics of interests of emerging economies.

At the concluding session, PM Modi handed over the gavel and extended best wishes to Brazil for the presidency. Brazil officially will take over the mantle of the presidency of the G20 on December 1 this year.

After the last session of the summit, PM Modi said that the world is changing and with it the institutions of the world also need to change. He said- Till now there are the same number of members in UNSC as there were at the time of its establishment. The number of permanent countries should increase.

PM Modi said it is our responsibility to look at the suggestions that have come forward in the summit to see how their progress can be accelerated.

I propose that we hold another virtual session of the G-20 Summit at the end of November. In that session we can review the topics decided during this summit. Our team will share the details of all these with you all, PM Modi said.

Fight against hunger, energy transition are G20's priorities: Silva

After assuming the presidency, Brazilian President Lula da Silva said - Today I became very emotional while paying tribute to Mahatma Gandhi. Everyone knows how important Mahatma Gandhi is in my political life. Today I became very emotional while paying tribute to Mahatma Gandhi. Everyone knows how important Mahatma Gandhi is in my political life. 

Lula da Silva congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies.

Lula da Silva also said social inclusion, the fight against hunger, energy transition and sustainable development are G20 priorities.

He said the UN Security Council needs new developing countries as permanent, non-permanent members to regain political strength.

Lula da Silva said we want greater representation for emerging countries at the World Bank and the IMF.