Union Minister Smriti Irani announces establishment of B20 Global Institute at WEF Davos

DAVOS: On the sidelines of the World Economic Forum in Davos, Union Minister for Women and Child Development Smriti Irani on Wednesday announced the establishment of the B20 Global institute furthering a commitment made by India during its hosting of the G20 summit in Delhi last years.

https://x.com/smritiirani/status/1747618131915215062?s=20

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.

As the official G20 dialogue forum for the global business community, B20, during India's Presidency, led the process of galvanizing global business leaders for their views on issues of global economic and trade governance and speak in a single voice for the entire G20 business community.

Throughout India's G20 Presidency, the B20 India Secretariat, represented by the Confederation of Indian Industry (CII), led the B20's activities. Under the guidance of N Chandrasekaran, Chair, B20 India and Executive Chairman, Tata Sons, the Secretariat was responsible for overseeing the development and execution of the B20 process.

B20 India also brought together enterprises of all sizes, from all sectors, segments, and regions to provide constructive ideas to global governments towards promoting a thriving, resilient, sustainable, digitised, innovative and inclusive business paradigm under its over-arching theme of R.A.I.S.E.

B20 India outlined key initiatives including the establishment of a B20 Global Institute, which would provide knowledge, research and policy advocacy to global enterprises, ensuring a continuation of priorities.

Speaking at the B20 summit session on B20 India Priorities and Recommendations on August 25 2023, N Chandrasekaran, Chair, B20 India and Chairman, Tata Sons had said " We would like to announce a global B20 institute with a purpose for it to be an evangelist, a change agent, the knowledge base, thought leader and a think tank with highly experienced people who will work with the B20 nations. It will be a global business institute based in India."

The institute, led by businesses, will focus on building resilient global value chains, leveraging digital innovations and AI for social good, fostering innovation, sustainability, energy transition, and promoting ESG principles and inclusion. The institute will collaborate with businesses globally to drive opportunities.