Indian Prime Minister Narendra Modi has said that the country will work to promote a "universal sense of oneness" while it leads the G20.
India formally took over the presidency - which rotates annually between members - of the Group of Twenty countries on Thursday.
Indonesian President Joko Widodo had officially handed it over to Mr Modi at the end of the G20 summit in November, reports yahoonews.
Mr Modi had said then that it was a "matter of pride" for Indians.
On Thursday, in an editorial published in major Indian newspapers, Mr Modi wrote that India's G20 agenda will be "inclusive, ambitious, action-oriented and decisive".
He also called for member countries to make India's G20 presidency one of "healing, harmony and hope". The theme of India's presidency is 'One Earth, One Family, One Future', inspired by the Sanskrit phrase 'Vasudhaiva Kutumbakam'.
The G20 is a group of countries which meets to discuss plans for the global economy. Between them, the 20 countries account for two-thirds of the global population, 85% of the world's economic output and 75% of world trade.
Every year, a different G20 member state takes over the presidency and sets the agenda for meetings.
Digital issues and reforms of multilateral financial institutions are expected to be key focus areas for India during its one-year tenure.
At the November summit, India had said it would work to bridge the digital divide, especially in developing countries.
"India's experience of the past few years has shown us that if we make digital architecture inclusive, it can bring about socio-economic transformation," Mr Modi said at the Bali summit.
In the editorial published on Thursday, Mr Modi wrote, "We have leveraged technology to create digital public goods that are open, inclusive and inter-operable."
He added that India's G20 priorities will be shaped in consultation with "our fellow-travellers in the global South, whose voice often goes unheard".
This is the first time ever that the G20 troika - the top grouping that consists of the past, current and next presidencies - is made up of developing countries: Indonesia, India and Brazil.