NEW DELHI: India on Sunday formally handed over the G20 presidency to Brazil at the closing ceremony of the annual summit of the grouping, that was held in New Delhi this weekend.

India Prime Minister Narendra Modi completed the transition by handing over the ceremonial gavel of the presidency to Brazil President Luiz Inacio Lula da Silva.

India has had the presidency of the G20 since Dec. 1, when it took over from Indonesia, and will continue to hold the position until Nov. 30.

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During the two-day summit, the bloc adopted a consensus declaration that made commitments on several issues, including that of food and energy security, climate change and global debt vulnerabilities.

Modi, on Sunday, also proposed a “virtual summit” of the grouping at the end of November to assess the status of the suggestions and proposals put forth by members and determine “how their progress can be accelerated”.

“In that session, we can review the topics decided during this summit,” Modi said, adding that details would be shared with members.