In a significant gathering of global leaders, the 18th Heads of State and Government Summit of the Group of 20 (G20) commenced today, September 9th, 2023, in the vibrant city of New Delhi, India.
Under the guidance of the Indian Presidency, the G20 for the year 2023 has set its sights on a profound and unifying theme: ‘One Earth, One Family, One Future.’ This thematic choice underscores the inherent value of all life forms, encompassing humans, animals, plants, and microorganisms, emphasizing their interconnectedness not only on our beloved planet Earth but also within the vast expanse of the universe.
The summit boasts an impressive gathering of over 30 heads of state, complemented by the esteemed presence of top officials from the European Union and guest nations who have received coveted invitations to partake in this prestigious event.
On this occasion, we asked India’s leading Entrepreneurs, CEOs, Founders and Business Leaders about their expectations and thoughts on the G20 Leaders’ Summit.
Here are the major highlights:
Nandini Mansinghka, CEO of Mumbai Angels
We believe that the G20 summit would bring about a positive impact on the Indian startup ecosystem. Under its G20 presidency, India has launched Startup20, which will open doors for a dialogue between the stakeholders of the global startup ecosystem and G20 leaders regarding macroeconomic concerns and challenges entrepreneurs face. This year, the G20 Summit holds the key to giving direction to crucial aspects for startups, including policies and regulations. The summit’s outcomes could facilitate wider market access and collaborations, amplifying investor confidence and funding opportunities.
Mr. Dilip Chenoy, Chairman, Bharat Web3 Association
The G20 Summit will be the culmination of a lot of moving parts and regardless of how this final step approaches regulation for the VDAs, and by extension Web3, we can be extremely proud of the proactive initiative shown by the government of India in what is certainly an unprecedented drive to push for global cooperation. The BWA message for regulation has been clear ever since the incorporation of the Association. Regulation needs to be comprehensive, pervasive and coordinated across borders. Thus, a unification of efforts on a global scale is the only effective way to achieve these goals. We need to ensure that consumers trust the market and feel secure when interacting with it. The FSB and IMF were tasked with formulating a synthesis paper to unify approaches across countries and continents. In the time during which this synthesis paper has been developed, both the IMF and FSB have come out with prescriptive publications of their own. These papers have addressed crucial issues at the centre of the sector, including AML/CFT guidelines, financial inclusion and stability, oversight and supervision, and have highlighted unique and different methods of regulation for different asset classes which constitute Web3. So, we anticipate a comprehensive document which builds on the sturdy foundation which has already been laid down. As a starting point, we believe this would be a strong first step for India which could shape the narrative over the next 2 years.
Adeetee Agarwaal, Founder of PinkAprons
India’s hosting of the G20 Leader’s Summit holds significant implications for the nation’s aspirations as an economic leader. It provides a platform for India to showcase its economic prowess and strategic importance on the global stage. By convening world leaders and fostering dialogues on critical economic issues, India can assert itself as a key influencer in shaping international economic policies. This opportunity enables India to strengthen diplomatic ties, attract investments, and promote its “Make in India” initiative. It also signifies a commitment to addressing global challenges, such as climate change and sustainable development, further solidifying India’s role as a responsible and forward-thinking economic leader in the international arena.
Richard Teng, Head of Regional Markets at Binance
“Honorable Prime Minister Modi’s suggestion aligns with India’s growing role in the global economy. As India is leading the G20 this year, this presents an opportunity for the nation to play an active role in shaping international regulations that can protect the interests of all stakeholders involved in the cryptocurrency industry and to build a sustainable and inclusive cryptocurrency ecosystem.
India showcases a balanced approach by combining its tech-savviness with advocacy for a global cryptocurrency framework. This sets the stage for future success by fostering innovation, nurturing local expertise, and advocating responsible adoption.”
Mr. Kiran Vivekananda, Chief Public Policy Officer,CoinDCX
The G20 summit serves as an essential platform to underline the significance of global collaboration in regulating crypto, given their inherent borderlessness. Such collaboration is pivotal in preventing regulatory arbitrage and fostering responsible industry growth. We want to laud India for spearheading progressive conversations on developing a global approach for crypto regulation. We hope that the final outcome also reflects this progressive and balanced view. Emerging technologies such as Web3, including crypto offer several revolutionary benefits. But given their disruptive nature, they also pose certain challenges. Policies need to optimise the potential of Web3, while mitigating it’s risk. We at Coindcx are committed to building a secure and thriving Web3 ecosystem in India.
Mr. Trishneet Arora, Founder and CEO, TAC Security
The future of cybersecurity and cloud computing in G20 nations will revolve around securing complex, interconnected systems, adapting to emerging technologies, and fostering international cooperation to combat evolving cyber threats. Robust strategies, investments in technology, and a skilled workforce will be essential to navigate this evolving landscape.
Rajesh Sahay, Partner, Enterprise Consulting, Flipcarbon
“Under India’s presidency, the Startup20 engagement group is the first such initiative to be established. It heralds the emergence of start-ups as economic pillars, giving them a place at the high table that was previously monopolised by sizable, established businesses. The G20 is a shining example of collaboration and progress in the intricate world of the global economy. The G20 is not only a place for countries to come together and discuss policies, but also a platform for opportunities for our economy. With its focus on sustainable growth, innovation and inclusiveness, the G20 undoubtedly helped to improve India’s economic journey.
From the startup’s point of view, the G20 fuels India’s entrepreneurial spirit to a new level. The summit’s commitment to creating a supportive ecosystem for startups through public policy advocacy, resource mobilization and knowledge sharing is impressive. The focus on reducing trade barriers, developing digital infrastructure, and developing a skilled workforce directly meets our basic needs as we face the challenges of scaling. In a world full of challenges, the G20 gives India’s startups the opportunity to showcase innovation while learning about emerging trends. Not only does this attract investment, but it also encourages us to create cross-border solutions”.
Shivam Thakral, CEO of Buycoin, India’s second-longest-running digital asset exchange
“This can be an astounding achievement for every crypto vibrant ecosystem on a global scale. India’s presidency at the G20 can bring together a collective worldwide effort to regulate and harness deep tech to its full potential. The recent acknowledgement of much needed regulatory framework for AI & Crypto will instill confidence among the Indian masses that have already adopted some forms of AI or Web3 in their lives while the industry has set its eye on upcoming G20 meetings for more clarity.”
Richard Teng, Head of Regional Markets at Binance
Honorable Prime Minister Modi’s suggestion aligns with India’s growing role in the global economy. As India is leading the G20 this year, this presents an opportunity for the nation to play an active role in shaping international regulations that can protect the interests of all stakeholders involved in the cryptocurrency industry and to build a sustainable and inclusive cryptocurrency ecosystem.
India showcases a balanced approach by combining its tech-savviness with advocacy for a global cryptocurrency framework. This sets the stage for future success by fostering innovation, nurturing local expertise, and advocating responsible adoption.
Ms. Priya Prakash, Co-Founder and MD, Eco Pallet
India’s G20 presidency is a major opportunity to showcase its commitment to sustainability and responsible leadership. India can use its presidency to work with other G20 countries on important issues such as climate change, inclusive growth, and innovation. By doing so, India can demonstrate its leadership on the global stage and help build a better future for all.
Here are some specific examples of how India can use its G20 presidency:
- On climate change, India can work with other G20 countries to develop ambitious targets for reducing greenhouse gas emissions. It can also promote the use of clean energy technologies and sustainable practices.
- On inclusive growth, India can focus on policies that promote job creation, education, and healthcare for all. It can also work to reduce poverty and inequality.
- On innovation, India can encourage investment in research and development, and support the development of new technologies that can address global challenges.
By taking a leadership role in the G20, India can make a real difference in the world. It can help to address the challenges of climate change, inequality, and poverty. It can also help to promote peace and prosperity for all
Om Malviya, President at Tezos India, a blockchain adoption entity
“Global coordination of crypto regulations is imperative in today’s interconnected world. The crypto space is evolving rapidly, and as it does, it becomes increasingly important for countries to collaborate and establish a uniform, crypto-friendly policy framework. A discussion on crypto policy within the G20 summit would be a significant step forward. It can pave the way for a more coherent and balanced approach that fosters innovation while safeguarding against risks. By harmonizing regulations and promoting responsible crypto adoption, we can harness the full potential of blockchain technology, ensuring it benefits individuals, businesses, and economies worldwide. It’s time for nations to come together and shape the future of crypto in a way that’s both progressive and secure.”
Nikunj Agarwal, Head – Debt and Lending Alliances, Propelld
India’s hosting of G20 meetings is set to have a lasting impact on its financial sector. India’s robust financial infrastructure, coupled with cutting-edge Fintech solutions, has successfully addressed numerous challenges associated with last-mile financial product delivery. This accomplishment is particularly noteworthy given India’s vast and diverse population.
An integral facet of G20 discussions is centred around efforts to stabilize international financial markets & inclusive trading practices. These discussions are expected to create a conducive environment for investment and growth, thereby bolstering the attractiveness of India as an investment destination.
In essence, India stands at a unique juncture to leave an indelible mark on the global stage by showcasing its recent strides in financial technology (fintech). This exhibition of prowess has the potential to yield positive repercussions across various sectors, enhancing equity and debt investment opportunities within India, while ensuring optimal valuation and cost-efficiency
Mr. Anshuman Das, Co-Founder and CEO of Careernet
I expect India to progress further as a world leader in the technology, R&D, and knowledge service economy and lead the way with a lot of innovative products not only for India but for the world. UPI is a great example of such technology, and I expect that India will become an epicenter of global investments from different parts of the world. These could be focused on Drones, Green Tech, AI, Semiconductor, Defense and aviation, as we see an overall shift from a being unipolar world to a multipolar world not only in Geo Politics but also in Tech Innovation and Business.
The G20 summit brought a lot of global perspectives to Indian policymakers in terms of how to attract much more global investment at scale, and climate change is one area that is certainly a priority.
One final focus area behind key technology and R&D developments in India, I believe, will essentially be sustainability and improve the general quality of life of underserved countries, so called the global south. A lot of this innovative technology and various products emerging from India will spread to African nations and many other countries, and elevate a lot of the world out of poverty.
Manhar Garegrat, Country Head for India and Global Partnership at Liminal, a wallet infrastructure and custody solutions platform
“It’s great to see consensus from global leaders on the fact that crypto is a global digital asset followed by calls from leading economic officials for global coordination of crypto regulations. The rapid growth of the digital asset industry has created new challenges for regulators and it is important that the regulators work together with the industry to develop a comprehensive and consistent regulatory framework. With a global regulatory framework in place we can expect to better tackle challenges such as money laundering, terrorist financing, and market manipulation. We have already seen glimpses of this positive impact with the Travel Rule framework created by the FATF and supported by exchanges, custodians and other virtual asset service providers (VASPs). At Liminal we are confident that we will be able to develop a comprehensive and consistent regulatory framework that addresses the risks associated with digital assets while also supporting innovation and economic growth. We look forward to working with regulators around the world to achieve this goal.
Mr. Arjun Ranga, the Managing Director of Cycle Pure Agarbathi
India has long been recognized as a developing nation, but with the remarkable strides it has taken, it is poised to transition into the ranks of developed countries. This is indeed a moment of immense pride for India as we host nations from around the world to engage in critical discussions. The goal of Atmanirbhar Bharat is to empower both the nation and its citizens to achieve self-sufficiency and independence in all aspects of life. This vision is now within reach, as we focus on a rejuvenated India, a thriving nation where a dynamic and youthful population is actively participating in its progress.
India hosting the G20 Leader’s Summit offers a distinctive chance to enhance its economic leadership, especially from an FMCG standpoint. It entails heightened global market visibility, the potential for influential policy advocacy within the industry, and the prospect of global investments and partnerships, firmly establishing India as a pivotal player in the FMCG landscape. In sectors like FMCG, MSMEs, and Retail, India stands on the verge of asserting its dominance, with abundant opportunities poised to drive robust businesses and strengthen international relations.
Mr. Vijai Subramaniam, the Founder and Chairman of Royaloak Furniture
India hosting the G20 Leader’s Summit is a remarkable opportunity for our nation to cement its position as a global economic leader. This prestigious event signifies international recognition of India’s economic prowess and offers a multitude of advantages. It enables us to engage with the world’s largest economies, fostering economic partnerships, attracting foreign investments, and catalyzing economic growth.
The summit’s platform empowers India to influence global economic policies, advocate for its interests, and contribute to discussions on vital issues like trade, climate change, and sustainability. Moreover, it enhances our reputation as a responsible economic leader, garnering respect and trust from the international community.
The preparations for hosting the G20 summit also encourage domestic economic reforms, infrastructure development, and knowledge exchange, which can have long-term positive effects on various sectors of our economy.
I view India’s hosting of the G20 Leader’s Summit as a pivotal moment with the potential to reshape our economic landscape, attract investments, and further strengthen our position as a global economic powerhouse. This opportunity is not only significant for our nation but also holds promise for the continued growth and success of businesses like Royaloak in the global arena.
Anmol Sachdeva, Founder and Managing Director, TAS World
I’m looking forward to the G20 Leaders Summit, where collaboration and stability in the world economy will be highlighted. I hope to see talks that put a focus on sustainable development, infrastructure investments, and laws that support innovation in a world that is fast changing. Collaboration between countries can pave the road for a better future, allowing businesspeople like me to continue creating inclusive, sustainable communities and fostering economic progress. We can create a society where everyone has access to opportunities by working together.
Mr. K Madhavan, Managing Director, Peps Industries
India’s ambitious investment in infrastructure over the past decade has laid the foundation for a sustainable future, and the G-20 Summit offers a unique opportunity to influence and shape the global discourse. It is a moment of pride for every citizen as we steer our nation on the right track towards economic growth. Our commitment to a thriving economy that caters to our vast population is unwavering, with sustainability at the forefront. Together, we aim to create a better Earth for the next generation.
The ease of doing business has significantly improved from where we were to where we are today. Industries like ours, heavily reliant on warehousing and manufacturing, have witnessed substantial growth. The government’s substantial investments in infrastructure and overall development offer new opportunities, boosting supply chains and contributing to a circular economy.’
Dr. Tristha Ramamurthy, Founder, Ekya Schools
“The G-20 Summit coming to India is like watching purpose take form, not just for our economy but for our learning landscapes as well. The young learners of tomorrow will grow up in an India increasingly engaged in dialogues around policy reform, skill development, and global partnerships in education. Education today is not just about mastering skills, nor is it merely about rote learning. It is about elevating the quality of life by fostering a sustainable impact on society. This summit marks a potential turning point for a ‘New India’ where education isn’t just consumed but utilised to shape, innovate, and sustain our future.”
Denis Sklyarov, Co-Founder and CEO of WiFi Map, a crypto centric DeWi app
“At the G20 summit, a global force to be reckoned with, there exists a remarkable opportunity to rally nations towards governing and unleashing the immense potential of deep tech. Cryptocurrency, epitomizing disruptive innovation, are emblematic of our evolving technological landscape. With the G20’s collective wisdom, we can responsibly integrate AI and cryptocurrencies into our societies. Let’s seize this moment to craft a harmonious future where technology elevates humanity rather than subdues it. Together, we can forge a world where innovation serves us all.”
Mr Shailendra Singh Rao, Founder, Creduce
“There is a need to address climate action which is a major threat to SMEs, and the G20 can do so by prioritizing and promoting green technologies and sustainable business practices.
Prime among these initiatives is the establishment of a Green Entrepreneurship Fund that could provide financial support to SMEs that are developing or adopting green technologies.
Further there is an urgent need to establish a Climate Technology Transfer Hub to facilitate the transfer of green technologies from large companies to SMEs.
Empowering the worker force could happen with the help of the Climate Skills Training Program that can boost to provide training to SMEs on green technologies and sustainable business practices. Lastly, we can also expect the G20 to seek the removal of trade barriers for green goods and services.”
Amith Agarwal, Co-founder, Staragri
“The Indian agritech industry eagerly anticipates G20’s support for fostering innovation, sustainable practices, and digital transformation in agriculture, specifically focusing on localization and domestic capacity building.
We look to G20 to champion policies that encourage cross-border investments and free exchange of technologies in agritech startups, promote research and development, and facilitate international collaboration. For example, local manufacturing of drones will help in cost efficiency and affordability, but we need technical knowledge from our counterparts.
G20 political leaders can give a boost to further an international friendly environment conducive to agricultural innovation among all the participating nations. Together and collectively, we can solve food security challenges, reduce resource wastage, and promote climate-smart agriculture. “
Mr Amit Sinha, Co-Founder, Unnati Agri
“The G20 Summit is a crucial platform for initiating beneficial global developments across multiple industries, including agritech. The summit provides a unique opportunity to address critical agricultural issues ranging from sustainability and farmer empowerment to improved access to financing and marketing practices.
Agritech startups are seizing the chance to showcase their solutions to the world at the G20 summit, offering a plethora of unique innovations ripe for replication across diverse countries. This platform not only highlights their potential but also beckons opportunities to engage in cross-border collaborations, fostering agricultural advancements with a global impact. The G20 summit serves as a catalyst for transformative change in the agriculture sector, uniting nations in pursuit of sustainable and efficient agricultural solutions for a brighter future.”
Rajamanohar Somasundaram, Founder and CEO, Aquaconnect
“As an agritech startup founder, I eagerly look forward to India’s G20 presidency with great anticipation. In the face of increasing climate volatility and the urgent need to secure our global food supply, we passionately hope for a resounding commitment to collaborative practices among the G20 nations.
Through close collaboration on climate resilience and smart farming strategies across sectors encompassing agriculture, aquaculture, dairy, and poultry, we can forge a powerful alliance that not only strengthens food security for our growing population but also effectively mitigates the impacts of climate change.
India’a startups stand ready to lead the way by offering innovative technologies and practices. We firmly believe that through this shared commitment to collaboration, we can cultivate a more resilient and sustainable future for these vital sectors, not only within our nations but across the globe.”
Mr Sandeep Sabharwal, Group CEO of SLCM (Sohan Lal Commodity Management)
“The G20 Agriculture Ministerial Meeting serves as a significant forum for discussions and resolution of issues pertaining to the agricultural sector pertaining to the member countries. It will be essential for promoting international collaboration in support of sustainable agriculture. Member nations can cooperate to create an agricultural sector that is more resilient and inclusive by addressing issues linked to food security, sustainability, innovation, rural development, environment protection and trade. The conference acts as a springboard for global cooperation, information exchange, and policy coordination, ultimately benefiting farmers, customers, and the environment as a whole.”
Rashi Agarwal Founder Megalodon – India’s First AI Marketing & Communications Company
Creating a robust visibility and garnering a strengthening reach are two major aspects of utilising Digital Marketing and Social Media for event promotions. The core of the entire recipe however depends on content. Reach, Visibility and Engagement (RCE) is the mantra for ensuring success. As they say content is king, brands need to understand what format of content caters to their specific target audience. Being able to figure that out can bring humongous change in the entire digital campaign. Currently the market is very bullish around AI content and its integration in different forms of communication. AI creativity in the Tourism Sector has the potential to be the game changer of the decade. The old book of marketing doesn’t go by the world we are in today. Integration of AI creatives, AI videos and AI reels is the next most impactful marketing technique which is being adopted by many brands already
Anuj Arora, Co-founder & COO SahiBandhu
“We believe that the upcoming G20 Summit holds immense promise for global economic stability and prosperity. Our expectations are rooted in the conviction that this gathering of world leaders can foster collaboration and innovation to address pressing challenges in priority areas i.e. inclusive economic growth, sustainable development, and financial resilience. By fostering an environment conducive to financial inclusion and responsible lending practices, the G20 Summit can pave the way for a brighter and more equitable economic future for all, especially for SME, Banking, Aggregator space, NBFCs, etc. SahiBandhu, as a leading gold loan aggregator, expects insightful dialogue & policy formation to strengthen financial inclusion, digital literacy, and extend last mile connectivity in India.”
Rajagopal Menon, Vice President, WazirX
“We are anticipating a robust regulatory framework from the G20 summit. We are expecting that these regulations will be agile as well as flexible given how dynamic the industry is, and how rapidly governance and regulatory changes need to be implemented to keep up with the technological developments. The FM’s statements give us hope that the frameworks will get countries to collaborate while ensuring complete user protection and fostering utility of blockchain technology worldwide.”
Mr. Harshal Sonawane, Head of Sustainability, nurture.farm
As G20 takes the lead in guiding global progress, it’s crucial to recognise that agriculture plays a critical role in our world’s climate change mitigation efforts, and we are approaching a pivotal juncture. Agriculture is undeniably vital to our civilization but also poses a significant risk to global warming – it consumes a staggering 70% of our freshwater resources and contributes 24% of greenhouse gas emissions.
Alarmingly, we lose a staggering twenty-four billion tons of soil each year due to erosion, a situation that demands our immediate attention. The future of our planet relies on the health of our soil, and it’s imperative that we prioritise its well-being. Let’s come together under the G20’s leadership and work collaboratively to drive innovation, implement sustainable practices, and foster international cooperation. Through these concerted efforts, we can create a brighter, more environmentally friendly future for agriculture and our world.
Mr Dinesh Arjun- CEO and Co founder – Raptee
Supporting the scalability of startups focused on SDGs across G20 nations can have a positive impact on the Indian startup ecosystem by attracting more investment, creating jobs, and boosting economic growth. This can be done by creating a global database of SDG-focused startups, establishing a network of incubators and accelerators, providing funding and other support, creating a forum for startups to share ideas, and promoting SDG-focused startups to potential investors and partners.
By supporting the scalability of startups focused on SDGs, India can become a global leader in innovation and sustainable development.
