Union Minister for Women and Child Development Smriti Irani announced the creation of the B20 Global Institute on the fringes of the World Economic Forum in Davos on Wednesday, fulfilling an earlier pledge made by India when it hosted the G20 summit in Delhi last year.
In her post on X the Union Minister stated “Furthering India’s contribution to the G20 at #WEF2024, it was a pleasure to formally announce the establishment of the ‘B20 Global Institute,’ a concept conceived during the #B20Summit2023 in New Delhi. Led by businesses, the B20 Global Institute is poised to strengthen global value chains, utilize digital innovations and AI for societal benefit, promote ESG principles, and support sustainability & energy transition. Rooted in R.A.I.S.E. — Responsible, Accelerated, Innovative, Sustainable, and Equitable businesses — this initiative marks a key milestone in fostering partnerships to address the emerging economies of the Global South.”
Speaking on the occasion N Chandrasekaran, Executive Chairman, Tata Sons said that the institute was conceptualised for global collaborations on the B20 platform.
During India’s Presidency, B20, the official G20 dialogue forum for the global business community, spearheaded the process of mobilizing business leaders worldwide for their opinions on matters of global economic and trade governance and speaking with a single voice on behalf of the G20 business community. The B20 India Secretariat oversaw B20 operations during India’s G20 Presidency, with the Confederation of Indian Industry (CII) serving as its representative. The Secretariat was in charge of managing the creation and implementation of the B20 process, working under the direction of N Chandrasekaran, Chair, B20 India and Executive Chairman, Tata Sons.