Prime Minister Narendra Modi will visit Indonesian city of Bali from November 14 to 16 to attend the G20 summit, the Ministry of External Affairs announced on Thursday.

India will assume the Presidency of the powerful grouping from the current chair Indonesia on December 1.

The G20 or Group of 20 is an intergovernmental forum of the world's major developed and developing economies.

It comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US and the European Union (EU).

The G20 summit will take place on November 15 and 16 in Bali and Modi is set to be among the top leaders attending it.

The G20 is the premier forum for international economic cooperation representing around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.

India is currently part of the G20 Troika (current, previous and incoming G20 Presidencies) along with Indonesia and Italy.