India's Prime Minister Narendra Modi marked the transition by presenting the ceremonial gavel of the presidency to Brazil's President Luiz Inacio Lula da Silva.

India has held the G20 presidency since December 1, following Indonesia, and will continue to hold this position until November 30.

During India's tenure, the G20 member nations reached a consensus declaration addressing several critical issues, including food and energy security, climate change, and global debt vulnerabilities.

On the occasion of the presidency handover, Prime Minister Modi proposed the organization of a "virtual summit" for G20 members at the end of November.

The purpose would be to assess the progress of suggestions and proposals put forth by member countries during the recent summit and explore avenues for expediting their implementation.

"In that session, we can review the topics decided during this summit," Modi stated, assuring that further details about the proposed virtual summit would be communicated to the G20 members.

The transition of the G20 presidency from India to Brazil marks a significant moment in the global economic and political landscape, as both countries continue to play pivotal roles within the group and on the international stage. (ILKHA)