G20 Presidentship and Indian Businesses

India assumes the Presidentship of Group of 20 nations today. The relevance of this development to businesses of India cannot be understated. Take a look of these facts: Together, the?G20?members represent more than 80 per cent of world GDP, 75 per cent of international trade and 60 per cent of the world’s population.?

This is big and needs to be celebrated. We must all leverage it, the government, the businesses, the NGOs, the citizens alike. By a simple arithmetic we won’t have another opportunity for next 19 years. Who knows what may happen in the geo-politics of the world. India may be superpower or India may have disintegrated, this Group itself may not be relevant or become more powerful. Wars, famines, floods, terrorism, etc. The list is endless of the possibilities that can be envisaged.?

The Indian Businesses need to seize this opportunity. Even if we only play across these nations, it will solve a bulk of problems faced by the country. Exports have to go up. Even if we increase out exports by 10% with each of the nations, we are sorted. Imports have to reduce. If we reduce our dependence on the imports of petroleum based products, we are sorted, then there is global supply chain, the environment crises, etc.?

The five priority areas by India have a lot of business opportunities. India has constituted 13 working groups under the sherpa track that would provide recommendations on areas such as employment, digital economy, and trade and investment. Under the finance track, G20 finance ministers and central banks will discuss macroeconomic development, economic risks, and international financial architecture, among others. I am sure that the common ground can be found.?

There is another advantage the India has. That of technology. It is the job of the leadership to create environment for one Apple Inc., one Amazon, etc. to emerge out of India. Technology may help in all other businesses. If Indians are running these businesses currently too, what stops us from repeating their success in India??The world will depend on e-commerce more and more and Indians have already proven their mettle. It is IT that India has the world leadership even now.

The jugadu nature of Indians can solve many a problems that the world faces. There is a lot of business opportunity in this. I am a firm believer that most of the world’s problems can be solved by its businessmen. Between political and business leadership, all problems could be solved. The problems which are not solved are due to the lack of intention?

The Vasudhaiva Kutumbakam philosophy the India has forwarded is beneficial to everyone across the world. It is to be seen, how much does the Indian business is able to leverage it.

-- Sushil Bahal

#india #G20 #president #ib #ipo #business

Sushil Bahal is Managing Director of Raka Reputation Management Services Pvt. Ltd., a 22-year old, Mumbai based PR and Advertising company offering integrated communication solutions and maximum reach across 83 top media regions across India. Raka Reputation has experience across sectors, particularly Banking, Financial Services, Healthcare, Hospitality, Education, Lifestyle, Manufacturing, Technology, etc. Raka Reputation has been associated as a communications partner to some of the most complex challenges and nearly 280 IPOs. Please visit our websites?www.rakareputation.com?for any further information.?Sushil can be contacted on?[email protected].?