×

‘Devise ways to make global businesses more consumer-centric’: PM Modi at B20 summit

Modi lauded Chandrayaan-3’s success during the event in Delhi

Prime Minister Narendra Modi addresses the gathering on the third day of the three-day B20 Summit in New Delhi | AFP

While addressing the G20 business leaders at B20 summit in Delhi on Sunday, Prime Minister Narendra Modi lauded the success of Chandrayaan-3 moon mission. He said that the festive season in India started from August 23, Chandrayaan-3’s landing on the lunar surface.

“ISRO played an important role in the success of India’s lunar mission. Along with this India’s industries have also played an important role,” said Modi.

He pointed out that “this celebration is to accelerate India’s growth." "This celebration is about innovation... This celebration is about bringing in sustainability & equality with the help of space technology,” he said.

Praising the digital transformation in India, Modi said that the country has become the face of digital revolution at the time of Industry 4.0. “India has the largest youth talent...Business can transform potential into prosperity, obstacles into opportunities and aspiration into achievements. Whether they are small or big, global or local business can ensure progress for everyone," he said.

Referring to the tough times during Covid pandemic, he said mutual trust was imparted built across the world. “Pandemic gave a lesson to every country, society, business house and corporate entity...we need to invest maximum in mutual trust...India gave mutual trust to the world during the pandemic...during Covid, India provided medicines to more 150 countries,” Modi was quoted by ANI.

He also stressed businessmen to devise ways to make global businesses more consumer-centric.

“A profitable market can be sustained when there is a balance in the interest of producers & consumers...Treating other countries only as a market will never work. It will harm the producing countries sooner or later. Making everyone equal partners in progress is a way forward. Can we all give more thought to how to make business more consumer-centric?” he said.

He also mentioned the green credit system launched by India. "We need to create an ecosystem that will make the planet healthy...One should be concerned about the planet's health,” said Modi.

The B20 India Communique includes 54 recommendations and 172 policy actions for submission to G20, it said.

PM also spoke about artificial intelligence and cryptocurrencies.

B20 is the official G20 dialogue forum with the global business community. B20 is among the most significant groups in G20 with companies and business organisations as participants.