India is expected to host the foreign ministers of G20 countries in the first week of March and they are set to deliberate on ways to deal with pressing global challenges including the Ukraine conflict, people familiar with the development said on Thursday.

India assumed the presidency of the influential bloc G20 at its annual summit in Bali in November with a promise of striving to ensure that the grouping acts as a global prime mover to envision new ideas and accelerate collective action to deal with pressing challenges.

The people cited above said India is looking at March 1 and 2 for the G20 foreign ministers’ meeting in New Delhi.

However, the dates are yet to be locked.

India is hosting a series of events and meetings ahead of the G20 summit later this year.

“India is taking charge of the G-20 at a time when the world is simultaneously grappling with geopolitical tensions, economic slowdown, rising food and energy prices, and the long-term ill-effects of the pandemic,” Prime Minister Narendra Modi said at the Bali summit.

“At such a time, the world is looking at the G-20 with hope. Today, I want to assure that India’s G-20 presidency will be inclusive, ambitious, decisive, and action-oriented,” he said.India officially assumed the G20 presidency on December 1.