Tata Sons Chairman N. Chandrasekaran has been appointed by the government as the Chair of Business 20 India and will lead the business agenda during the country’s G20 Presidency, an official statement said here on Wednesday.
The Confederation of Indian Industry (CII), India’s apex industry body, has been named as the B20 India Secretariat by the government to lead the B20 India process, from December 1, when India’s terms as G20 President commenced.
Established in 2010, the B20 is the official G20 dialogue forum with the global business community, and is among the most prominent engagement groups in G20 with companies and business organisations as the participants.
It leads the process of galvanising 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.
“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,” said Chandrasekaran on his appointment.
He added that 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.
CII President Sanjiv Bajaj 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.”
CII Director General Chandrajit Banerjee said they 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 (Covid-19) 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,” he added.
B20 India has identified priorities for deliberations under the theme R.A.I.S.E – Responsible, Accelerated, Innovative, Sustainable, and Equitable businesses, and around 100 business policy initiatives are planned by the CII during the year.
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 January 22-24, 2023, culminating into the B20 India Summit in August 2023.