Buenos Aires: Prime Minister Narendra Modi on Saturday announced that India will host the G-20 Summit in 2022, the year the country would celebrate its 75th Independence anniversary.

PM Modi made the announcement at the closing ceremony of the two-day summit held in Argentina’s capital Buenos Aires.

Italy was to host the international forum in 2022.

Thanking Italy for allowing India to play the host, Modi invited G-20 leaders to India in 2022, which also marks the 75th anniversary of India’s Independence.

“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,” the prime minister tweeted after making the announcement.

The G-20 is a grouping of the world’s 20 major economies. It comprises Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the UK and the US.

Collectively, the G-20 economies account for nearly 90 per cent of the gross world product, 80 per cent of world trade, two-thirds of the world population, and approximately half of the world land area. Spain is a permanent guest invitee.

India presented a nine-point agenda to the G20 countries on Friday, calling for “strong and active cooperation” among them to comprehensively deal with fugitive economic offenders.

PM Modi met Chinese president Xi Jinping on Friday on the sidelines of the summit and the two leaders concurred there had been a perceptible improvement in bilateral relations, even as they looked to build on a thaw in ties after a standoff on the border last year.

The two leaders have met twice after their informal summit in the Chinese city of Wuhan in late April — once at the Shanghai Cooperation Organisation (SCO) summit held in June in China’s Qingdao and the second time at the BRICS summit in South Africa’s Johannesburg in July.