Prime Minister Narendra Modi on Sunday handed over the customary gavel of the G20 chair to Brazilian President Luiz Inacio Lula da Silva and proposed a virtual summit by November to take stock of initiatives taken during the Indian Presidency. Brazil will formally assume the G20 Presidency on December 1 this year. Modi proposed a virtual G20 Summit by November end at the leaders’ summit that concluded here on Sunday.

Modi also made a strong pitch for expansion of the UN Security Council and reforms in all global institutions, asserting that they should reflect the world’s “new realities” as it is nature’s law that those who don’t change with times, lose relevance. “In the past two days, you have put forward your views, given suggestions and a number of proposals have been put forward. It is our responsibility that the suggestions that have come forth are closely looked upon as to how they can be speeded up,” Modi said.