B20 India to prioritize R.A.I.S.E – Responsible, Accelerated, Innovative, Sustainable, Equitable Businesses
7 December 2022
N Chandrasekaran, Chairman, Tata Sons, has been appointed by the Government of India as the Chair of B20 India. He will lead the business agenda during India’s G20 Presidency.
The Confederation of Indian Industry (CII), India’s apex industry body, has been appointed as the B20 India Secretariat by the Government of India to lead the B20 India process. CII assumed charge of B20 India Secretariat on 1 December 2022, as India’s term as G20 President commenced.
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.
Mr Chandrasekaran stated, “As India commences its leadership of B20 amid multiple global developments and transformations, the participation of businesses in global economic decision-making has never been more critical. We believe that a renewed strategy for businesses to strengthen global collaborations will foster economic stability, progress and growth that is inclusive and sustainable. B20 India will take forward the global B20 agenda for equitable development and highlight solutions to G20 India for meeting the challenges of the future.”
Mr Sanjiv Bajaj, President, CII, and Chairman & Managing Director, Bajaj Finserv Limited said, “B20 has been instrumental in shaping economic policy statements by the G20 grouping over the years. As India takes over the G20 Presidency, Indian industry’s proactive participation through the B20 India platform will contribute to the G20 dialogue and help develop a conducive environment for businesses to drive growth.”
Mr Chandrajit Banerjee, Director General, CII said, “We are witnessing major shifts in the way businesses operate around the world, arising from the need for climate change mitigation, accelerated technologies and the aftermath of the pandemic. The global economy must build resilience, make trade more inclusive and ensure equitable digital access. As the B20 India secretariat, CII would work on converging businesses of the world and shaping the B20 agenda on issues of global relevance.”
B20 India has identified priorities for deliberations under the theme “R.A.I.S.E – Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses.” About 100 business policy initiatives will be organized by CII under the B20 calendar across the country during the Presidency year.
B20 India’s agenda focuses on integration into global value chains and building trade resilience, innovation and R&D, and skilling and mobility of workers, amongst others. It will also prioritize financing growth and sustainable infrastructure, and financial inclusion. Energy, climate change and efficiency in utilization of resources will be an important part of the agenda, along with digital transformation. B20 India aims to catalyze business responsibility for sustainability, integrity & compliance, and work towards business participation in Africa’s growth story as additional priorities.
B20 India work will be conducted through Task Forces and Action Councils, which will develop consensus-based policy recommendations to the G20.
B20 India will commence work on various taskforces and action councils after the inception meeting, scheduled on 22-24 January 2023, culminating into the B20 India Summit in August 2023.