N. Chandrasekaran, the Chair of B20 India and Executive Chairman of Tata Sons, articulated on Sunday that the tenure of India’s B20 presidency was guided by the overarching theme reflective of Prime Minister Narendra Modi’s profound vision encapsulated in ‘Vasudhaiva Kutumbakam’ (One Earth, One Family, One Future). In a significant transition of leadership, India also formally transferred the B20 presidency to Brazil, a precursor to Brazil’s hosting of the G20 Summit in 2024.
In his address to the G20 Summit, N. Chandrasekaran remarked, “Throughout India’s stewardship of the B20 under the G20 umbrella, our presidency was steered by the profound ideals embodied in Prime Minister’s vision of ‘Vasudhaiva Kutumbakam’ (One Earth, One Family, One Future). Over the course of the past 7 months, our engagement encompassed a wide spectrum, involving over 1,500 distinguished global business leaders and experts hailing from 55 nations, across a comprehensive array of more than 100 events both within India and on the international stage.”
The Business20 (B20) serves as the designated official dialogue platform between the G20 and the worldwide business community. The focal theme for this year’s summit is encapsulated by the acronym ‘R.A.I.S.E.’: signifying the shared objectives of cultivating Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses. Commencing on August 25, the three-day summit, hosted within the confines of the national capital, has attracted the attendance and active involvement of a substantial assemblage of over 1,500 representatives hailing from 55 nations.
During his keynote address at the concluding session of the B20 Summit, Prime Minister Narendra Modi underscored India’s pivotal role as a solution provider for a myriad of challenges. He highlighted India’s remarkable contribution to the global community, particularly referencing the nation’s significant role in supplying vaccines worldwide, effectively earning the reputation of being the ‘Pharmacy of the World’. This sentiment reinforces India’s commitment to addressing global issues and its emergence as a substantial contributor to solutions on the international stage.
“India occupies a significant position in the establishment of a resilient and reliable global supply chain. Amidst the challenges posed by the Covid-19 pandemic, India emerged as a vital source of life-saving pharmaceuticals, epitomizing its role as the ‘Pharmacy of the World,’ with medicines reaching more than 150 nations. Furthermore, in response to the global demand for Covid-19 treatments, India notably escalated the production of its own vaccines, thus safeguarding the invaluable lives of millions worldwide,” articulated Prime Minister Modi.
At the session titled ‘Role of Global South in Emerging World 2.0’, an integral component of the B20 Summit India 2023 held in the national capital, External Affairs Minister S. Jaishankar delivered a significant address. He underscored the imperative for a diversified and all-encompassing model of globalization, marked by the presence of numerous production hubs that empower businesses to engender substantial contributions.
Minister Jaishankar accentuated the necessity for fostering an inclusive global economic landscape that accommodates the aspirations and potential of nations within the Global South. By embracing a multifaceted approach to globalization, wherein various regions play a pivotal role as production centers, enterprises can be catalysts for constructive transformations on a global scale.
“The fluctuations experienced over the recent years have underscored the significance of strategic autonomy. While we may advocate for the pursuit of a fairer, more balanced, and collaborative global framework, the realization of such a vision hinges on substantial commitments towards trade and technological choices,” remarked Minister Jaishankar. He emphasized that the advancement towards a just, equitable, and inclusive global order necessitates considerable investment and dedication to decision-making processes related to trade and technology.