News Update

India will concentrate on startups while hosting G20

• ByStartupStory     |    November 23, 2022

The European Union and a group of 20 countries make up the G20, an international forum (EU). Its primary goal is to address the pressing problems facing the world economy, including international financial stability, reducing greenhouse gas emissions, and sustainable development. India will assume the role of G20 President in December 2022 and hold the position through the 2023 summit in New Delhi.

Following its election as president, India intends to prioritise the nation’s digital development and the promotion of home-based entrepreneurs. China will pay close attention to all of the member nations’ healthcare and pharmaceutical industries while it holds the G20 leadership.

Amitabh Kant, the Sherpa of the G20, claims that “India has done some amazing work on startups. There were just about 200 firms when we first launched the Startup India Movement. We will leverage the fact that there are currently more than 80,000 companies and 106 unicorns to examine how the G20 and ultimately the rest of the world can speed up the startup revolution.

Startup 20, a crucial programme for Indian companies, would be India’s main area of attention as president. One of the biggest economic gatherings in the world is the G20. More than 60% of the world’s population and 75% of global trade are represented among its members. They make up more than 80% of the global GDP. The Indian startup scene will benefit greatly from this. The developed nations of the world had historically set the global agenda for startups, but now India has assumed that responsibility. India’s digital transformation journey is best illustrated by the digital payments ecosystem, which demonstrates how far the nation has come in terms of digitalization.

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