Marking the ceremonial transfer of the G20 presidency, Prime Minister Narendra Modi on Sunday handed over the gavel to Brazilian President Luiz Inácio Lula da Silva who hailed India for giving voice to topics of interests of emerging economies.

At the concluding session, Modi handed over the gavel and offered best wishes to Brazil for the presidency. Brazil officially will take over the mantle of the presidency of the elite grouping on December 1 this year.

Speaking on the occasion, Lula da Silva congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies.

Lula da Silva also listed social inclusion, the fight against hunger, energy transition and sustainable development as G20 priorities.

He said the UN Security Council needs new developing countries as permanent, non-permanent members to regain political strength.

"We want greater representation for emerging countries at the World Bank and the IMF," he said.

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