PM Modi attends B20 Summit India 2023

Published By : Admin | August 27, 2023 | 12:01 IST
“India’s lunar mission is a success of both science and industry”
“In B-20's theme - RAISE, ‘I’ represents Innovation. But along with innovation, I also see another ‘I’ in it - Inclusiveness”
“Thing that needs most of our investment is ‘mutual trust’”
“Future of global growth is dependent upon the future of business”
“India has an important place in building an efficient and trusted global supply chain”
“Sustainability is both an opportunity as well a business model”
“India has prepared a framework of green credit for business, which focuses on 'planet positive' actions”
“Businesses should focus on improving the purchasing power of more and more people as a self centric approach will harm everyone”
“We should definitely think about a system for ‘International Consumer Care Day.’ This will help in strengthening trust between businesses and consumers”
“There is a need for a more integrated approach regarding cryptocurrencies”
“Global business communities and governments will have to work together to ensure that Ethical AI is promoted”
“A connected world is about shared purpose, shared planet, shared prosperity and a shared future”

The Prime Minister Shri Narendra Modi addressed the B20 Summit India 2023 in New Delhi today. B20 Summit India brings policymakers, business leaders and experts from across the world to deliberate and discuss the B20 India Communique. The B20 India Communique includes 54 recommendations and 172 policy actions for submission to G20.

Addressing the gathering, the Prime Minister emphasized the celebratory moment that was ushered in by the successful Chandrayaan Mission landing on 23rd August. He said India’s festive season has advanced, and society as well as businesses are in a celebratory mood. Noting the role of ISRO in the successful Lunar mission, the Prime Minister also acknowledged the role of the industry in the mission as many components of Chandrayaan were provided by the private sector and MSMEs. “This is a success of both science and industry”, he said.

He continued that along with India, the entire world is celebrating and this celebration is about running a responsible space programme. The Prime Minister said that the celebrations are about responsibility, acceleration, innovation, sustainability and equality, the theme of today’s B20. He further added that it is about humanity, and about ‘One Earth, One Family and One Future’

Speaking about the B20 theme ‘R.A.I.S.E.’, the Prime Minister said that even though the ‘I’ represents innovation but he pictures another ‘I’ of inclusiveness. He informed that the same vision has been applied when inviting the African Union to permanent seats at the G20. Even in B20, the Prime Minister said that the economic development of Africa is identified as a focus area. “India believes that the inclusive approach of this forum will have a direct impact on this group”, the Prime Minister said. He noted that the successes of the decisions taken here will have a direct impact in dealing with global economic challenges and creating sustainable growth.

Talking about the lessons learnt from the once in a century calamity i.e. the Covid-19 pandemic, Shri Modi said that that the pandemic taught us that the thing that needs most of our investment is ‘mutual trust’. The Prime Minister said that as the pandemic shattered the edifice of mutual trust, India stood with confidence and humility raising the banner of mutual trust. India, the Prime Minister said, made medicines available to more than 150 countries, living up to its status as the pharmacy of the world. Similarly, vaccine production was increased to save crores of lives. The Prime Minister said that India's democratic values show in its action and its response. He said, “India’s democratic values show in G20 meetings in more than 50 cities of India.”

Emphasizing the attractiveness of partnership with India for the global business community, the Prime Minister mentioned India’s young talent pool and its digital revolution. “The more your friendship deepens with India, the more prosperity accrue to both”, PM Modi added.

He said “business can transform potential into prosperity, obstacles into opportunities, aspirations into achievements. Whether they are small or big, global or local, business can ensure progress for everyone.” Therefore, the Prime Minister said, “the future of global growth is dependent upon the future of business”.

Throwing light on the transformations in life that have occurred with the onset of Covid 19 pandemic, the Prime Minister noted the irreversible change of disruptions in the global supply chain. Questioning the efficiency of the global supply chain that ceased to exist when the world required it the most, the Prime Minister underlined that India is the solution to the disruptions that the world is dealing with today. He highlighted India’s position in creating a trusted supply chain in the world today and emphasized the contributions of global businesses.

Expressing happiness that B20 has emerged as a robust platform among businesses of G20 nations, PM Modi stressed the need to focus on sustainability. He asked global business to move forward as sustainability, in itself, is an opportunity as well a business model. He elaborated this by giving an example of millet which is a superfood, environment friendly as well as good for small farmers making it a win-win model from the angle of both economy and lifestyle. He also mentioned the circular economy and green energy.India’s approach of taking the world along is visible in steps like the International Solar Alliance.

In the post corona world, the Prime Minister observed that every individual has become extra conscious about their health and its impact is clearly visible in day-to-day activities. He also noted that people are looking ahead to the futuristic impact of any such activity. Giving strength to this belief, the Prime Minister said that businesses and the society should have a similar approach towards the planet and analyze the impact of their decisions on the planet. “The well being of the planet is also our responsibility”, the Prime Minister added. Speaking about Mission LiFE, the Prime Minister said that the objective of this mission is to create a group or a collective of Pro Planet People. He underlined that half of the issues will be reduced when both the lifestyle and the businesses are pro planet. He emphasized adapting life and business according to the environment and informed about India preparing a framework of green credit for business, which emphasizes on planet positive actions. The Prime Minister urged all the stalwarts of global business to join hands and make it a global movement.

The Prime Minister asked for a reconsideration of the traditional approach to business. He said that there is a need to go beyond brand and sales. He said, “As a business, we also have to focus on creating an ecosystem that will benefit us in the long term. Now, Due to the policies implemented by India in the past few years, 13.5 crore people have come out of poverty in just 5 years. These people are the new consumers. This neo middle class is also giving momentum to India's growth. That is, the net beneficiary of the work done by the government for the poor is our middle class as well as our MSMEs.” The Prime Minister stressed that businesses should focus on improving the purchasing power of more and more people as a self centric approach will harm everyone. Referring to a similar challenge of uneven availability and universal need in critical material and rare earth metals, Prime Minister Modi said, “If those who have them do not look at them as global responsibility then it will promote a new model of colonialism.”

The Prime Minister underlined that a profitable market can be sustained when there is a balance in the interests of producers and consumers, and it also applies to nations. He stressed that treating other countries only as a market will not work but harm even the producing countries sooner or later. He emphasized that the way forward is to make everyone equal partners in this progres. He urged the business leaders present on the occasion to give thought to making businesses more consumer-centric where these consumers could be individuals or countries. He said that their interests need to be taken care of and suggested coming up with a yearly campaign for this. “Every year, can global businesses come together to pledge themselves for the good of the consumers and their markets”, the Prime Minister asked.

Shri Modi asked the global business to fix a day to talk about the interest of the consumer. He asked, “When we talk about consumer rights, should not we also be mindful of consumer care as it will automatically take care of many consumer rights issues? We should definitely think about a system for 'International Consumer Care Day. This will help in strengthening trust between businesses and consumers”, said Prime Minister Modi. He elaborated that consumers are not confined to retail consumers within a particular geography but also the nations that are consumers of global trade, global goods and services.

Noting the presence of the world's business leaders, the Prime Minister raised significant questions and said that the future of business and humanity will be decided by the answers to these questions. Regarding the answers, Shri Modi said that mutual cooperation is necessary to answer them. He underlined that issues like climate change, energy sector crisis, food supply chain imbalance, water security, cyber security etc. have a big impact on business, and stressed on increasing the efforts to counter this. He also touched upon issues that no one could have thought of 10-15 years ago and gave the example of challenges related to cryptocurrencies. The Prime Minister stressed the need for a more integrated approach in this matter and suggested creating a global framework where issues of all stakeholders can be addressed. He also spoke about a similar approach needed regarding artificial intelligence. Highlighting the buzz and excitement around AI, the Prime Minister drew attention to some ethical considerations regarding skilling and re-skilling, and concerns regarding algorithm bias and its impact on society. “Such issues have to be resolved together. Global business communities and governments will have to work together to ensure that Ethical AI expands”, the Prime Minister asserted and stressed on sensing the potential disruptions in different sectors.

Concluding the address, the Prime Minister said that businesses have successfully gone beyond borders and boundaries but it is now time to take businesses beyond the bottomline. He said that it can be carried out by focusing on supply chain resilience and sustainability. Shri Modi expressed confidence that the B20 Summit has paved the way for a collective transformation. “Let us remember that a connected world is not just about connection through technology. It is not only about shared social platforms but also about a shared purpose, shared planet, shared prosperity and a shared future”, the Prime Minister remarked.

Background

The Business 20 (B20) is the official G20 dialogue forum with the global business community. Established in 2010, B20 is among the most prominent Engagement Groups in G20, with companies and business organizations as participants. The B20 works to deliver concrete actionable policy recommendations to spur economic growth and development.

The three day summit is being held from 25th to 27th August. Its theme is R.A.I.S.E – Responsible, Accelerated, Innovative, Sustainable and Equitable Businesses. It is being attended by over 1,500 delegates from about 55 countries.

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Namaskar!

All journalists of Network 18, all colleagues overseeing this arrangement, all distinguished guests present here, ladies and gentlemen!

You are all discussing Rising India. And in this, your emphasis is on strength within-in simple words, your focus is on the nation’s own inherent capability. In our scriptures it is said: Tat Tvam Asi!-that which we seek in the Brahman is within us, it is us ourselves. The strength lies within us, and we must recognize it. In the past 11 years, India has recognized that very strength, and today the nation is continuously striving to empower it.

Friends,

Strength in a nation does not suddenly emerge; it is built over generations. It is refined through knowledge, tradition, hard work, and experience. But during a long period of history, through centuries of slavery, the very spirit of being strong was filled with inferiority. Imported ideologies instilled deeply into society the belief that we were uneducated and mere followers. Our scriptures say: Yādṛśī bhāvanā yasya, siddhir bhavati tādṛśī-as is one’s belief, so is the accomplishment. When the belief itself was inferior, the accomplishment was also inferior. We copied foreign technologies, waited for foreign approval-this was slavery not just political or geographical, but mental. Unfortunately, even after independence, India could not free itself from this mentality of slavery. And we are still paying the price for it. A fresh example can be seen in the discussions around trade deals. Some people are surprised-how did this happen, why are developed nations so eager to make trade deals with India? The answer lies in a confident India, emerging out of despair and hopelessness. If the country were still stuck in the pre-2014 gloom, counted among the “Fragile Five,” trapped in policy paralysis-who would have made trade deals with us, who would have even looked at us?

But friends,

In the past 11 years, new energy has flowed into the nation’s consciousness. India is now striving to regain its lost strength. Once upon a time, when India had the greatest dominance in the global economy, what was our strength? India’s manufacturing, the quality of Indian products, India’s economic policies. Today’s India is once again focusing on these aspects. That is why we worked on manufacturing, emphasized Make in India, strengthened our banking system, controlled inflation that was running in double digits, and made India the growth engine of the world. It is this strength of India that has developed nations themselves coming forward to make trade deals with us.

Friends,

When the hidden power of a nation awakens, it achieves new milestones. Let me give you some more examples. Whenever I meet heads of government from other countries, they are eager to hear about the immense power of Jan Dhan, Aadhaar, and Mobile. In a country where ATMs arrived much later compared to developed nations, how did India achieve global leadership in digital payments? Where leakage in government aid was accepted as bitter truth, how did India, through DBT, transfer 24 lakh crore rupees-twenty-four trillion rupees-to beneficiaries? India’s digital public infrastructure has today become a subject of global discussion.

Friends,

The world is astonished-how India where until 2014 nearly 30 million families lived in darkness, became one of the top countries in solar power capacity? How did India whose cities had no hope of improved public transport, become the third-largest metro network country in the world? How did India whose railways were known only for delays and slow speed achieve semi-high-speed connectivity with Vande Bharat and Namo Bharat?

Friends,

There was a time when India was only a consumer of new technology. Today, India is also a creator of new technology and is setting new standards. And this has happened because we recognized our own strength-the very strength within you are discussing is an example of this.

Friends,

When we move forward with pride, the way the world looks at us also changes. Remember, just a few years ago, how little global media discussed India’s events. Events in India were not given much importance. And today, see how every action of India is analyzed globally. The AI Summit is an example-it was held right here in this building. More than 100 countries participated. Whether Global North or Global South, all sat together at one table. From large corporations to small startups, all gathered together.

Friends,

In all the industrial revolutions so far, India and the entire Global South were only followers. But in this era of Artificial Intelligence, India is not only a participant in decisions but is also shaping them. Today we have our own AI startup ecosystem, the strength to invest in data centers, and we are working rapidly on the power most needed to store and process AI data. The reforms we have made in the nuclear power sector will also help strengthen India’s AI ecosystem.

Friends,

The organization of the AI Summit was a moment of pride for the whole of India. But unfortunately, the country’s oldest party tried to tarnish this celebration. In front of foreign guests, Congress did not just strip off clothes, but also exposed its ideological bankruptcy. When failure breeds despair and arrogance takes over, such thinking emerges that seeks to defame the nation. Clearly, Congress’s actions have angered the country. To justify its sin, they brought Mahatma Gandhi forward. Congress always does this-when it wants to hide its sins, it puts Bapu forward; when it wants to glorify itself, it gives all credit to one family.

Friends,

Congress has now reduced itself to a mere toolkit of opposition in the name of ideology. This mentality of blind opposition has grown so much that they do not miss any chance to belittle the nation on every stage, every platform. Whatever good happens for the country, whatever auspicious occurs, Congress only knows how to oppose.

Friends,

I have a long list-the new Parliament building was constructed, they opposed it. The lions of the Ashoka pillar atop Parliament-they opposed it. Those whose lions once ran away after eating ordinary citizens’ shoes, were frightened by the teeth of the Parliament’s lions. The Kartavya Path was built, they opposed it. The armed forces carried out surgical strikes, they opposed it. The Balakot air strike happened, they opposed it. Operation Sindoor was conducted, they opposed it. In short, for every achievement of the nation, Congress’s toolkit produces only one thing-opposition.

Friends,

The nation brought down the wall of Article 370, the country rejoiced. But Congress opposed it. We enacted the CAA law-they opposed it. We introduced the Women’s Reservation Bill-they opposed it. We brought a law against triple talaq-they opposed it. We launched UPI-they opposed it. We initiated the Swachh Bharat Mission-they opposed it. The country developed its own COVID vaccine, and even that they opposed.

Friends,

In a democracy, opposition does not mean blind resistance. In democracy, opposition means presenting an alternative vision. That is why the enlightened citizens of the country have been teaching Congress a lesson-not just today, but continuously for the past four decades. What I am about to say, I urge my media colleagues to analyze as well. You will see that Congress’s votes are not being stolen; rather, the people of the country no longer consider Congress worthy of their vote. And this decline began after 1984. In 1984, Congress received 39 percent of the vote and more than 400 seats. In subsequent elections, Congress’s vote share kept declining. And today, Congress’s condition is such that only four states remain where Congress has more than 50 legislators. Over the past 40 years, the number of young voters has increased, and Congress has steadily disappeared. Congress has become a club of people enslaved to one family. That is why first the millennials taught Congress a lesson, and now Gen Z is also ready.

Friends,

Congress and its allies have such a narrow mindset that they have even made long-term vision a crime. Today, when we talk about a developed India by 2047, some people ask-“Why talk about something so far ahead now?” Some even say, “Modi won’t be alive till then.” The truth is that nation-building never happens through short-term thinking. It happens through a grand vision, patience, and timely decisions. Let me present some facts before Network 18’s viewers. Every year, India spends more than 6 lakh crore rupees on freight through foreign ships. On fertilizer imports, we spend 2.25 lakh crore rupees annually. On petroleum imports, we spend 11 lakh crore rupees annually. That means, every year, trillions of rupees are flowing out of the country. If this investment had been directed towards self-reliance 20–25 years ago, today this capital would have been strengthening India’s infrastructure, research, industry, farmers, and youth. Today, our government is working with this very vision. To avoid paying 6 lakh crore rupees to foreign ships, Indian shipping and port infrastructure is being strengthened. To increase domestic fertilizer production, new plants are being set up, and nano-urea is being promoted. To reduce dependence on petroleum, ethanol blending, the Green Hydrogen Mission, solar energy, and electric mobility are being prioritized.

And friends,

We must take decisions today while keeping the future in mind. That is why India is building a semiconductor ecosystem. In defense production, mobile manufacturing, drone technology, the critical minerals sector, and investments therein-we are laying the foundation for economic security in the coming decades. The 2047 goal is not a political slogan. It is also a resolve to correct the historical mistakes where Congress governments failed to invest in time. Today, if we build indigenous ships, produce our own energy, and develop new technologies ourselves, then future generations will not discuss the burden of imports, but the capacity for exports. The progress of a nation is determined not by “today’s convenience” but by “tomorrow’s preparation.” And the hard work done with foresight is the foundation of a self-reliant, strong, and prosperous India in 2047. And no matter how many clothes Congress tears in protest, we will continue to work tirelessly.

Friends,

One very important condition of nation-building is sincerity of intent. Congress and its allies have failed even here. They have never worked with sincerity. They have no concern for the suffering of the poor. For example, in Bengal, the Ayushman Bharat scheme has still not been implemented. If there were sincerity, would they have blocked a scheme that provides free treatment up to 5 lakh rupees for the poor? No. You also know that under the PM Awas Yojana, permanent houses are being built for the poor. Let me give another figure to Network 18’s viewers. In Tamil Nadu, about 9.5 lakh permanent houses have been allocated for poor families-9.5 lakh. But construction of 3 lakh of these houses has stalled. Why? Because the DMK government is not showing interest in building these homes for the poor. And the reason is clear-their intent is not sincere.

Friends,

Let me also give you an example from the agriculture sector. During Congress’s time, farming was left to its fate. Small farmers were ignored, crop insurance was in shambles, the Swaminathan Committee’s report on MSP was buried in files. Congress made announcements in the budget, but nothing happened on the ground-because they lacked sincerity. We began working sincerely for the farmers of the country, and today the world is witnessing the results. Today, India is becoming one of the major agricultural exporters in the world. We have created a safety net for farmers at every level. Through the PM Kisan Samman Nidhi, more than 4 lakh crore rupees have been deposited directly into farmers’ accounts. We set MSP at 1.5 times the cost and made record purchases. Let me give you just one figure-pulses. The UPA government, in 10 years, purchased only 6 lakh metric tons of pulses at MSP-6 lakh metric tons. Our government has already purchased about 170 lakh metric tons of pulses at MSP-nearly 30 times more. Now you decide who truly works for the farmers.

Friends,

The UPA government was also stingy in providing help to farmers through the Kisan Credit Card. In its 10 years, the UPA government gave 7 lakh crore rupees in agricultural loans-7 lakh crore rupees. Whereas our government has given four times more-28 lakh crore rupees. During UPA’s time, only 5 crore farmers benefited from this. Today, the number has more than doubled, reaching nearly 12 crore farmers. That means, for the first time, even small farmers have received help. Our government has also given farmers the protective shield of the PM Fasal Bima Yojana. Under this, about 2 lakh crore rupees have already been provided to farmers in times of crisis. Because we are working with sincerity, the confidence of India’s farmers is rising, their productivity is increasing, and their incomes are growing.

Friends,

A quarter of the 21st century has already passed. The next phase is the decisive period of India’s development. The decisions taken today will determine the direction of the future. We must move forward by recognizing and enhancing our strength. Every individual must aim for excellence in their field, every institution must make excellence its culture. We should not just produce products, but produce best-quality products. We should not just do routine work, but world-class work. We must convert capability into performance. As I said from the Red Fort-this is the time, the right time. This is the time to take India to new heights. Once again, my heartfelt congratulations and thanks to all of you. Namaskar.