Union Minister Hardeep Singh Puri said that the G20 was born in a moment of crisis. "The G20 Presidency of India came at a time when the world was facing multiple crises. G20 itself was born in a moment of crisis. In 2008, when there was a world financial and economic crisis and the global institutions did not know how to deal with that crisis they elevated the G20 which was then at a level of finance ministers and made it into a summit-level group," he said.