The society, "36th International Geological Congress" will be established under the Indian Society Registration Act, 1860, for organising the event in 2020 and promoting geoscience in Indian subcontinent.
"The event will be held in NCR, Delhi, in March 2-6, 2020. A budgetary outlay worth Rs 52 crore has already been approved by the Cabinet to carry out preparatory activities up to 2018-19 and additional funds will be sought on revising the estimate a year before the main event," an official statement said after the Cabinet meeting.
It is expected to attract over 7,000 geoscientists from all over the world. The event is to be organised under the aegis of International Union of Geological Sciences (IUGS).
Once registered, the proposed society will start preparing for the event by taking up activities including constitution of a local organising committee (LOC) and participation in the 35th IGC which is scheduled to be held during 27 August-4 September, 2016 at Cape Town, South Africa.
The 36th IGC is based on the theme 'Geoscience - the basic science for sustainable future'.
"Hosting the event in India will provide an opportunity to upgrade geosciences and geoscientific research in the country to meet the challenges of global changes and ever increasing quest for natural resources," the statement said.