India assumed its first-ever G20 Presidency on 1st December 2022 and will be hosting 200 events in 32 different sectors across 50 cities until the next G20 Summit to be held in New Delhi in September 2023. India’s agenda for the year-long presidency is being outlined to be “inclusive, ambitious, action-oriented, and decisive.” Basing upon the theme 'One Earth, One Family, One Future' India will be aiming to achieve global economic growth by building consensus on a growing debt crisis, a tumultuous market economy, and an existential climate crisis.
Comprising 19 nations, G20 countries housing nearly 65% of the global population contribute 85% to the global GDP, and represent three-quarters of the world trade volume. This emanates significant importance of the summit and can posit a considerable impact in creating an enabling environment for growth and development. After 2008’s first meeting, this summit is now considered a premier forum for discussing key financial and international economic policies amongst the world's largest advanced and developing economies.
India leading this year’s summit comes at a backdrop of geopolitical and economic headwinds. Digital Public Infrastructure and a bustling startup ecosystem are at the forefront of demonstrations planned to be furthered at the global level. Emphasizing the Startup India movement’s success, which now ensembles 80,000 plus startups and more than 100 unicorns, Startup 20 is one of the key initiatives to be undertaken. This engagement group is being set to fuel the growth of startups across G20 countries.
Climate financing will also witness a center-stage effect. Alongside, seeking to initiate global dialogue on developing disaster and climate-resilient infrastructure, discussions will also be carried out to thrust upon the transition to a circular economy. With the recently concluded COP 27, sustainability sentiments are largely high around the world. This could thus be helpful for India’s chance to spearhead sustainable innovation.
Involving the private sector, civil societies, and independent bodies, the meetings will cover discussions on finance ranging from infrastructure financing to international taxation, and growing hike rates. The second key agenda is to initiate discussions on adapting institutions like the World Bank, the International Monetary Fund, and the World Trade Organisations to meet the needs of developing countries. Overall, India has constituted 13 working groups to focus on areas like employment, trade, and investment.
As India takes over the G20 presidency and is planning to advance the above key agendas, businesses are well-positioned to benefit. The conclusions drawn from the discussions covering focus areas will influence the overall picture of sectors in the days to come. For instance, the finance ministry pushing for a discussion to arrive at a global regulatory framework for cryptocurrency will significantly influence the future trajectory of blockchain startups. From furthering digital transformation to building resilient and secure global supply chains, India’s position can mold unique ecosystems, thus making it imperative for businesses to reimagine their strategies.
Customer behavior and tastes are currently driving industry changes.
SMEs find it extremely difficult to remain competitive in the fast-paced digital environment of today.
Ranking 4th among APAC countries and Top 10 In Global Cybersecurity Index 2020 Rankings, India has been immensely vocal about its cybersecurity ambitions.
One of the fastest growing and most complicated markets, energy markets are of major significance in the global economy.
Adaptive AI is a type of AI that can change its behavior and decision-making processes based on new information and changing circumstances.
2022 marked the highest inflation rate in some of the most advanced economies in the world.
This year has been described as a year of change. There has been a wave of disruption and turbulence that has earmarked certain trends that are going to influence the sectors in the days to come.
Companies that use market intelligence are twice as likely to outperform their competitors. Research shows that market leaders view analytics as a major differentiator.
Business Intelligence (BI) augments an organization’s capability in decision-making and drives business growth.
Business intelligence (BI) refers to the collection, analysis, and interpretation of data about a company's operations, markets, and competitors.
The banking industry is undergoing a period of rapid change, driven by advancements in technology and changing customer expectations.
Foreign Investment channeled into Asia has reached a record high exceeding $600 billion in 2021.
Technology remains to be the biggest trend for driving business transformation
In line with the United Nations’ Sustainable Development Goals 2030 and COP 27, as the countries pace up to meet the deadlines, similar trends are readily observed in the startup ecosystem.
Mobile Commerce or M-commerce is emerging as one of the most contending subsets of the E-commerce market.
The world is presently seeing the largest reallocation of capital in its history.
Sensory marketing, a subset of psychological marketing is all about appealing to one or more of your customer's five senses to uniquely position your brand or product, thus successfully driving their behavior, judgment, or perceptions
Valued at more than $5 billion in 2020, the global 5G technology market is growing at a CAGR of nearly 66% and is forecasted to reach a whopping $800 billion by 2030
The buzz behind Artificial Intelligence isn’t something new, but recently a category of AI- Generative AI has been making headlines.
United Nations Climate Change Conference more commonly referred to as the Conference of the Parties of the UNFCCC
Companies are readily seeking to envision a strategic
The Covid-19 pandemic has been instrumental to change
In this era of stupendous globalization,
Using digital technology is no longer meant for just driving solutions
The buzz around the term ‘blockchain’ gained gargantuan momentum in recent years.
Fintech is an umbrella term for describing all sorts of
The history of banking dates back to around 2000 BCE
The global economy is currently at an unprecedented level
Including more than 20 countries, home to nearly 60%
In recent years, there has been a trend in the emergence
In the wake of global market fluctuations and geo-political tensions
Two years ago, countries worldwide were concerned to overcome the pandemic
Metaverse- a term that first came up in Neal Stephenson’s 1992 science fiction novel - Snow Crash - which described life-like avatars meeting in realistic 3-D buildings and other virtual reality environments - is currently the favourite term of marketers.
Following the Covid-19 crisis, the alternative protein industry has seen a significant boost. The alternative protein market is anticipated to grow at a CAGR of 11.2% from 2020 to 2027 to reach $27.05 billion by 2027.
Historically being counted in the oil-country category, the United Arab Emirates (UAE) has been dramatically making its transition into being energy-focused yet finely attuned to technology.