G20 Sherpa Amitabh Kant Claims That India’s Payments System Is Faster Than That of the US, Europe and China
- ByStartupStory | January 28, 2023
Amitabh Kant, the former CEO of Niti Aayog and the G20 Sherpa for India, praised the efforts made by the central government to make it possible for people to open bank accounts using the biometric system in just a few minutes while speaking at the opening session of the G20 first inception meet on Saturday in Hyderabad. He added that for the past four years, India has been able to process payments more quickly than the US, Europe, and China.
“Earlier, opening a bank a/c in India took 8-9 months whereas today, it’s possible within a minute using biometrics. Since the last 4 years, we do faster payments compared to US, Europe & China,” said G20 Sherpa Amitabh Kant, as reported by news agency ANI.
In the meantime, Kant stated that India’s G20 presidency will be decisive, inclusive, and result-oriented while speaking at a news conference on Friday. He also emphasised the significance of the G20, noting that it represents two-thirds of the world’s population, 78% of the world’s trade, and 85% of the world’s GDP, according to the news agency.
A new Engagement Group called Startup20 has been created as part of the G20 India Presidency to develop a global narrative for assisting startups and facilitating synergies between startups, businesses, investors, innovation agencies, and other important ecosystem stakeholders, according to a statement from Startup20 PRO.
Five events make up the Startup20 activities, according to ANI.
The two-day Inception Meet of Startup20 is taking place in Hyderabad through January 29. The summit event will take place in Gurugram in July 2023, with three events scheduled in between in various locations throughout India. The G20 nations as well as 9 foreign observers are among the participating nations, according to the news source.
About 80 delegates are anticipated to attend the vent, per Startup20’s press release. Around 100 Indian delegates, including incubators, startups, investors, and industry partners, are anticipated to attend.
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