India has got the opportunity of hosting the G20 Summit in the year 2023. The Summit meetings will be held in the union territory of Jammu and Kashmir.

The theme of the G20 Summit is 'One Earth, One Family, One Future'.

The Summit is being seen as a historic opportunity that could help in taking the culture, economy, and sociology of Jammu and Kashmir to the global level.

The Jammu and Kashmir government has also constituted a high-level committee to oversee the preparations for the G20 summit.

The chairmanship of the 16-member committee has been given to the Additional Chief Secretary, Home Department, in which the remaining 15 members of this 16-member high-level committee, formed under the chairmanship of Financial Commissioner (Additional Chief Secretary), Home Department, Rajkumar Goyal, including Director General of Police Jammu and Kashmir Dilbagh Singh, IPS), Principal Secretary to Government for Jal Shakti Department Shalin Kabra (IAS) among others.

According to a government statement, the G20 members represent around 85 percent of the global GDP, over 75 percent of the global trade, and about two-thirds of the world population.

The G20 was founded in 1999 after the Asian financial crisis as a forum for Finance Ministers and Central Bank Governors to discuss global economic and financial issues.

It was upgraded to the level of Heads of State/Government in the wake of the global economic and financial crisis of 2007, and, in 2009, was designated the "premier forum for international economic cooperation".

India holds the Presidency of the G20 from December 1, 2022, to November 30, 2023.

The 43 Heads of Delegations -- the largest ever in G20 -- will be participating in the final Delhi Summit in September next year.

India's special invitee guest countries are Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, Spain, and UAE. (KB/IANS)