First B20 meet to focus on climate action, resilient global value chains

The first meeting of Business 20 (B20) — G20’s business group — will focus on key issues from climate action and building resilient global value chains to promoting financial inclusion and raising digitally inclusive society.

The three-day meeting, starting January 22, will see participation of key Indian business leaders, policymakers, senior executives representing G20 nations, in Gandhinagar, the capital of Prime Minister Narendra Modi’s home state Gujarat.

“The priorities during B20 India will be centred around the overall vision of ‘RAISE: Responsible, Accelerated, Innovative, Sustainable and Equitable Businesses’, the theme for B20 India,” business lobby group Confederation of Indian Industry (CII) said in a statement on Sunday. The government has designated CII as the B20 Secretariat. It will also lead and host B20 during India's G20 Presidency.

B20 India will work through seven task forces and two action councils to realise the B20’s strategic vision. The larger idea will be to translate the vision into policy deliverables on issues that have global relevance.

The three-day event is crucial as it will inaugurate the presidency work of all the task forces and action councils under B20.

“The inception meeting will commence discussions on the identified priorities and will begin work towards formulating policy recommendations to be submitted to the G20, ahead of the Leader’s Summit,” the statement said.

The meet will see the participation of prominent business leaders such as N Chandrasekaran, chair, B20 India & chairman, Tata Sons; Sanjiv Bajaj, chairman & managing director, Bajaj Finserv Ltd; Michael Froman, vice chairman & president, strategic growth, Mastercard, and former US trade representative in the executive office of the president; Charles Rick Johnston, chair, Business at OECD (BIAC) and managing director, global government affairs, Citi Group; Christian Cahn von Seelen, member of the board and executive director, Volkswagen Group Sales India; and Emma Marcegaglia, chief executive officer & chair, Marcegaglia Holding, among others.

B20 was established 13 years ago and is among the key engagement groups of G20, representing the priorities of businesses globally.

India is currently holding the presidency of G20 for 2023, hosting the 18th edition of the summit.