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ERIA Joins B20 Surat Meet, Stresses Digitalization for Supply Chain Resilience

2 July 2023

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Surat, 2 July 2023: The Confederation of Indian Industry (CII), designated as the Business 20 (B20) Secretariat for India's G20 Presidency, organised a high-level policy meeting in Surat, Gujarat, India to foster dialogue, collaboration, and innovation among global business leaders and G20 country policymakers. B20 is the official G20 dialogue forum with the global business community.

Sarbananda Sonowal, India's Minister of Ports, Shipping and Waterways, delivered the keynote speech, underscoring the importance of global efforts to achieve future-ready infrastructure and resilient supply chains. 

'Our shared purpose is to explore and unleash the vast potential of the global value chain and foster financial inclusion,' said Darshan Shah, CII Chairman in his welcome remarks. 

The dialogue was organized under two plenary sessions: Opportunities for Trade and Investments in Diamond, Textile, and Chemical Industries for Global Value Chain; and Building a More Inclusive Future: Advancing Financial Inclusion for Economic Empowerment.

Dr Venkatachalam Anbumozhi, Economic Research Institute for ASEAN and South Asia Director for Research Strategy and Innovations joined the deliberations in the first plenary session. Citing the example of ASEAN member states, he emphasized the need for innovations at industry level, and the nexus between infrastructure development and policy reforms, which have enabled building resilient and competitive value chains. 

'The B20 platform could serve as a conduit for fostering dialogue, building relationships, and leveraging the collective expertise of various industries in building resilient value chains across sectors,' he said.

Thought-provoking discussions occurred among the international resource persons, senior policymakers, business leaders, and participants numbering approximately 200 delegates from G20 countries representing various sectors.

On other key issues, discussions were held around the future of local industries, global supply chains, and economic competitiveness, specifically through the lens of their sustainability efforts and environmental, social and corporate governance (ESG) compliance; traceability; government policy; and how industries such as textiles, chemicals, and diamonds are pioneering positive change and economic development in G20. Participants also explored and addressed the significant social inclusion issues which will shape the trajectory of industries in India and G20 over the next decade.

The key stakeholders, including industry leaders, policymakers, and experts, had an in-depth and comprehensive conversation generating valuable insights and recommendations on doing sustainable business. They also hoped the outcome will help to grow global industry further as more and more young entrepreneurs aspire to succeed with their unique talents.

The B20 India 2023 dialogue is taking place under the theme of RAISE (Responsible, Accelerated, Innovative, Sustainable and Equitable Businesses). The final B20 summit will be held in New Delhi on 25-27 August 2023.

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