B20 Warns of Global Economic Challenges Under India's G20 Presidency
The global business community, represented by Business 20 (B20), has highlighted pressing economic challenges under India's 2023 G20 Presidency. Rising energy and commodity prices, inflation, raw material and labor shortages, and supply chain disruptions are among the key issues affecting international businesses.
The B20, the voice of the G20 business community, has identified industry priorities and constituted 7 task forces and 2 action councils to tackle these challenges. These include the Trade, Digital Transformation, Inclusive Global Value Chains, Energy, Climate Change & Resource Efficiency, Financing for Growth & Access, Skills & the Future of Work, and Transparency & Integrity task forces, along with the ESG and Critical Minerals action councils.
The B20's theme for 2023, R.A.I.S.E, emphasizes Responsible, Accelerated, Innovative, Sustainable, and Equitable businesses. During India's presidency, the Confederation of Indian Industry (CII) will serve as the B20 Secretariat, bringing together business leaders and experts to deliver policy recommendations.
The B20's efforts aim to spur economic growth and development by addressing these global challenges. Through international collaboration and the role of institutions, the business community seeks to navigate the significantly transformed global economic landscape.
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