3-day G20 Trade and Investment Working Group meet in Bengaluru from Tuesday

Three-day meeting of the Trade and Investment Working Group (TIWG) under India's G20 Presidency will commence on Tuesday in Bengaluru, the commerce ministry said on Monday.

About 75 delegates from G20 countries, invitee countries, and regional and international organizations will participate in deliberations on finding agreed solutions on issues related to international trade and investment, it said.

India assumed the presidency of G20 for one year from December 1, 2022, to November 31, 2023. The G20 Summit will be held in New Delhi on September 9-10.

G20 meetings are being held across different cities, covering all 28 states and eight Union Territories of India.

The meeting in Bengaluru will be inaugurated by Minister of State for Commerce and Industry Som Parkash.

"On the first day, a seminar is being organized which will discuss the disruptive role of technology in driving inclusive growth and resilient trade," it said.

The first TIWG meeting was held in Mumbai in March.

The Group of Twenty (G20) is an intergovernmental forum comprising 19 countries and the European Union. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Japan, Russia, Saudi Arabia, the US and UK are among other members.

G20 members represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.

It 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 as the premier forum for international economic cooperation.

The G20 Summit is held annually, under the leadership of a rotating presidency.