New Delhi: The Indian government is going to conduct one of the crucial G20 meetings in Jammu and Kashmir's Srinagar city next year, a move which showcases peace and tranquility which prevails in the UT, media reports said.

India formally assumed the presidency of G20 on Dec 1 from Indonesia making it the premier forum for international economic cooperation.

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

It is pertinent to mention that where the scheduled G20 meeting in Srinagar is a big victory for India, it is a major setback for Pakistan as G20 comprises the world’s largest advanced and emerging economies, representing about two-thirds of the world’s population, 85 per cent of global gross domestic product, 80 per cent of global investment and over 75 per cent of global trade, reports ANI.

Pakistan had reacted sharply to the announcement of the G20 meet in Srinagar, which was eventually ignored by the participants.

The delegates would then visit various tourists destination here, including the Dal Lake, Nishat Bagh, Shalimar Bagh, Pahalgam and Gulmarg, and would also experience the culinary delights of the Himalayan range, the Indian news agency reported.

The objective of the meeting is to ensure that the visiting delegates experience the “Real Kashmir” that has emerged as one of the fastest-growing regions of the country in three years.