Published Date : Jul 10, 2017
India Prime Minister Narendra Modi has said G20 countries “must walk the talk” of the need for providing technology and investments to Africa, emphasizing its multi-layered development partnership with the continent. Africa could expect to receive more aid from G20 countries other than India to enhance its IT, physical, and social infrastructure and build capacity. India’s Ministry of External Affairs labeled the partnership as a policy and priority for the country. Further, India has said that it believes yoga could be an effective preventive healthcare measure, and so could its new health policy against the evolving challenge of anti-microbial resistance.
After Promoting Investments, India Looks to Lead Ease of Doing Business
Global leaders at the 2017 G20 Summit acknowledged India’s efforts to encourage labor reforms, startup funding, and ease of doing business as part of its global economic support and measures taken for ensuring inclusive and sustainable growth. The country is largely promoting derivative instruments in electronic trading and exchanges platforms and offering external commercial borrowings (ECBs) by startups. Eying a top-50 position in World Bank ranking, India will also be introducing labor market reforms to augment female participation and offer security to workers.
G20 Global Organization Appreciates India’s Financial, Banking Initiatives
Another Indian initiative such as the Aadhaar system has been praised by the Financial Stability Board (FSB), a G20 global body, for financial reforms that promote lesser use of cash and the expansion of banking reach. The FSB has also stressed on financial technologies that help to balance innovation and management of money laundering/terror financing (ML/TF) risks. India’s journey to the achievement of low-cost world-class technology could be an icing on the cake for the market as it advertises digitalization, exchange of best practices, and strong skilling partnerships.