India's G20 Presidency Concludes With 54 Recommendations for Global Economy
India's G20 presidency, themed 'Vasudhaiva Kutumbakam', has concluded with significant progress. The Business 20 (B20) engagement group, under India's leadership, proposed 54 recommendations and 172 policy actions for the G20's consideration.
The B20 India focused on improving MSME access to finance and ensuring funds for sustainable and resilient infrastructure through alternative financing instruments. It also proposed a global institute to track recommendations and ensure their implementation across B20 presidencies.
The G20 was encouraged to work on developing skills related to environmental sustainability and climate change adaptation, as well as the needs of the care economy. The forum emphasized digital transformations, prioritizing high-quality internet access and global digital literacy standards. Financial inclusion was highlighted, with a focus on digital public infrastructure and ecosystem enablers. The energy, climate change, and resource efficiency forum drove net-zero emissions across industries and suggested industry-specific alliances. The B20 also asked for crisis mitigation and tech-enabled mechanisms for early risk detection in global value chains.
The B20 India's proposals aim to strengthen international economic cooperation, advance sustainable business practices, and support global tax cooperation. With 54 recommendations and 172 policy actions, the G20 can now consider and implement these measures to foster a more resilient and inclusive global economy.
