B20 Summit India 2023 Begins in New Delhi

The B20 Summit India 2023 started in New Delhi on 25 August. The Chairperson of B20 India N Chandrasekaran said, India stands as a beacon of growth, and is on track to achieve seven per cent average growth over the next decade. 

Mr Chandrasekaran, also the Executive Chairman of Tata Sons, said, the country is poised to lead the three transitions that the world is navigating through - digital and Artificial Intelligence transition, energy transition and global value and supply chain transition.

The Summit is based on the theme of B20 India R.A.I.S.E: Responsible, Accelerated, Innovative, Sustainable, Equitable Businesses. Seven task forces were created for India’s Presidency in different areas. To focus and deliberate on the larger structural agenda, B20 India worked through two Action Councils on environmental, social, and governance in Business on African Economic Integration.

Prime Minister Narendra Modi will attend the special session on the 27th of this month as Chief Guest.

About B20

• The Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, B20 is among the most prominent Engagement Groups in G20, with companies and business organizations as participants. 
• The B20 leads the process of galvanizing global business leaders for their views on issues of global economic and trade governance and speaks in a single voice for the entire G20 business community.
• Each year, the G20 Presidency appoints a B20 Chair (an eminent business leader from the G20 host country), who is supported by a B20 Sherpa and the B20 secretariat.
• The B20 aims to deliver concrete actionable policy recommendations on priorities by each rotating presidency to spur economic growth and development. The B20 bases its work on Task Forces (TFs) and Action Councils (ACs) entrusted to develop consensus-based policy recommendations to the G20 and to international organizations and institutions.
• The B20 officially conveys its final recommendations to the G20 Presidency on the occasion of the B20 Summit.

B20 India will operate through Task Forces and Action Councils in streamlining the B20 strategic vision and translating it into policy deliverables on key topics of the global economic agenda. The priority areas will be discussed and deliberated during B20 India under seven Task Forces in the areas of:

• Inclusive GVCs for Resilient Global Trade and Investment
• Future of Work, Skilling and Mobility
• Digital Transformation
• Financing for Global Economic Recovery
• Financial Inclusion for Economic Empowerment
• Energy, Climate Change and Resource Efficiency
• Tech, Innovation and R&D