Prime Minister Narendra Modi said he would take up issues related to global economic recovery and food and energy security at the 17th G20 Leaders’ Summit, which starts in Bali today.

Before leaving for a three-day visit to Bali to attend the summit, Modi said in a statement that India’s G20 presidency will be based on the issue Vasudhaiva Kutumbakam or “One Earth, One Family, One Future”.

“During the Bali Summit, I will hold in-depth discussions with other G20 leaders on key issues of global concern, such as resuming global growth, food and energy security, environment, health and digital transformation. On the sidelines of the G20 summit, I will meet with leaders of several other participating countries and review progress in India’s bilateral relations with them,” Prime Minister Modi said in a statement.

Prime Minister Modi said he would highlight India’s “unwavering commitment to tackling global challenges together”.

“At a significant moment for our country and our people, Indonesian President Joko Widodo will hand over the G20 presidency to India at the closing ceremony of the Bali Summit. India will officially take over the G20 presidency on December 1, 2022. I will also extend my personal invitation to G20 members and other invitees to our G20 summit next year,” the statement said.

“India’s G20 presidency will be based on this issue Vasudhaiva Kutumbakam or “One Earth, One Family, One Future,” underscoring the message of equitable growth and a shared future for all,” the statement said. Modi will also address the Indian community in Bali on Tuesday.

Earlier this month, Finance Minister Nirmala Sitharaman said financing mechanisms for sustainable development in emerging economies are a push for reforms of multilateral institutions, debt problems in middle-low-income countries and additional macro spill-overs in the multipolar world, climate finance and energy transition including some of the ideas likely to be discussed during India’s forthcoming G20 presidency.

Meanwhile, Anantha Nageswaran, Chief Economic Advisor V., has also indicated that India’s focus during the intergovernmental forum presidency will be on macroeconomic vulnerabilities, food and energy security, and cross-border challenges such as virtual asset regulation, depending on how the role rolls out at a time when the world economy faces the “unknown unknowns”.

The G20 includes the European Union and 19 other countries (US, UK, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Turkey, and South Africa Saudi Arabia).