Trump finally concedes to Biden, says 'new administration will be inaugurated on Jan 20'

US President Donald Trump on Thursday (local time) finally conceded defeat in the presidential elections held in November and said that a new administration will be inaugurated on January 20.

"Now Congress has certified the election results, a new administration will be inaugurated on January 20. My focus now turns to ensure a smooth, orderly, and seamless transition of power. This moment calls for healing and reconciliation," he said during a brief address posted on his Twitter handle.

"To the citizens of our country, serving as your President has been the honour of my lifetime, and to all of my wonderful supporters, I know you are disappointed but I also want you to know our incredible journey is only just beginning," he added.

The outgoing president also condemned the violent incident at the US Capitol, where a mob entered the House and Senate chambers of the building.

"The demonstrators who infiltrated the Capitol have defiled the seed of American democracy. To those who engage in acts of violence and destruction, you do not represent our country, and to those who broke the law, you will pay," he said.

Trump also called for tempers to be cooled down and calm restored following an intense election, and said he was only fighting to defend American democracy.

"My campaign vigorously pursued every legal avenue to contest the election results. My only goal was to ensure the integrity of the vote, and so doing I was fighting to defend American democracy. I continue to strongly believe that we must reform our election laws to verify the identity and eligibility of all those voters and to ensure faith and confidence in all future elections," he remarked.

This comes after a chaotic scene unfolded at the Capitol as supporters of President Trump swarmed the building to protest the Electoral College vote, forcing a lockdown and confrontations with police. Several police officers sustained injuries, while at least five people died.

Several lawmakers slammed Trump for inciting violence, with some calling for his immediate impeachment and removal.

Since Biden was projected as the winner of the presidential elections, the US President had continued to make unproven allegations of voter fraud, going so far as to threaten the Georgia Secretary of State Brad Raffensperger to 'find votes' to overturn the results.

Despite the violence, Congress reconvened in a late-night session after police secured the Capitol to certify Biden's victory with 306 electoral votes in his favour as compared to Trump's 232.

Biden will be inaugurated on January 20.

( With inputs from ANI )