India's G20 presidency will be inclusive, ambitious, decisive, and action-oriented, Prime Minister Narendra Modi said on Wednesday.

Speaking during the closing session of the G20 Summit in Bali, the Prime Minister said: "India is taking charge of the G20 at a time when the world is simultaneously grappling with geopolitical tensions, economic slowdown, rising food and energy prices, and the long-term ill-effects of the (Covid) pandemic. At such a time, the world is looking at the G20 with hope.

"Today, I want to assure you that India's G20 presidency will be inclusive, ambitious, decisive, and action-oriented."

He further said that in the next year of India's presidency of the G20, it would be ensured that the forum acts as a global prime mover to envision new ideas and accelerate collective action.

"The sense of ownership over natural resources is giving rise to conflict today and has become the main cause of the plight of the environment. For the safe future of the planet, the sense of trusteeship is the solution.

"LiFE i.e. 'Lifestyle for Environment' campaign can make a big contribution to this. Its purpose is to make sustainable lifestyles a mass movement," he told the gathering of world leaders on the last day of the summit.

India will assume the G20 presidency from Indonesia on December 1, 2022, which will continue till November 20, 2023.

The Prime Minister further said that "without peace and security, our future generations will not be able to take advantage of economic growth or technological innovation.

"The G20 has to convey a strong message in favor of peace and harmony. All these priorities are fully embodied in the theme of India's G20 Chairmanship -- 'One Earth, One Family, One Future'." (KB/IANS)