India on growth momentum while world faces slowdown: B20 Chair Chandrasekaran

India on growth momentum while world faces slowdown: B20 Chair Chandrasekaran

B20, which is being organised by industry body CII, will also be attended by Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, External Affairs Minister S Jaishankar, and education minister Dharmendra Pradhan.

Business 20, or B20, is one of the G20 forums representing the global business community, which was set up in 2010.
The global transitions favour India, and the country’s growth momentum continues compared to the rest of the world that faces a low-growth situation, N Chandrasekaran, chair, B20 India said on August 24.

“We are the fifth largest economy, and we have a lot of things going for us. Just not in terms of economic growth, but in terms of infrastructure as well,” the chairman of Tata Sons said on the eve of the B20 Summit India 2023, organised by the Confederation of Indian Industry (CII) in New Delhi.

Chandrasekaran noted that India stood at the cusp of changes happening worldwide.

“Be it digital, energy, or supply chain resilience and transition due to geopolitical situation. In all these transitions, India is extremely well placed,” he pointed out.

Business 20, or B20, is one of the G20 forums representing the global business community, which was set up in 2010.

The B20 theme, per Chandrasekaran, was focused on ensuring Responsible, Accelerated, Innovative, Sustainable and Equitable access to all businesses.

“The nine themes, seven task forces and two action councils all address what the world economy, society and global south needs,” he said, and added the task force centred around digital transition and adoption of AI on scale, which can benefit society.

The task force centred around digital transition and adoption of AI on scale, which can benefit society.

“So much can be done on generative AI. It requires regulation in some form. How can we come together so that a common framework can be developed to bring responsibility in the use of generative AI, but not choke innovation,” Chandrasekaran said.

B20, which is being organised by industry body CII, will also be attended by Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, External Affairs Minister S Jaishankar, and education minister Dharmendra Pradhan.

B20 has made 54 policy recommendations and over 170 actions to be undertaken.

In all there will be 15 sessions spread over the three day. On Sunday, there will be handing over of B20 presidency to Brazil.

 

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