Active Stocks
Fri Jun 14 2024 15:58:47
  1. HDFC Bank share price
  2. 1,597.45 1.05%
  1. State Bank Of India share price
  2. 840.20 -0.44%
  1. Tata Steel share price
  2. 183.05 0.30%
  1. ICICI Bank share price
  2. 1,105.10 -0.20%
  1. Kotak Mahindra Bank share price
  2. 1,717.00 -0.54%
Business News/ Opinion / Views/  The G20 envisions a big role for technology in inclusive growth
BackBack

The G20 envisions a big role for technology in inclusive growth

The New Delhi Declaration reflects a commitment to harnessing the power of digital innovations

The G20 endorsed both the voluntary G20 Framework for Digital Public Infrastructure Systems and India’s proposal to establish a Global Digital Public Infrastructure Repository. (PTI)Premium
The G20 endorsed both the voluntary G20 Framework for Digital Public Infrastructure Systems and India’s proposal to establish a Global Digital Public Infrastructure Repository. (PTI)

India has taken centre stage as a global leader. As the world grapples with complex challenges, India’s proactive stance at the G20 forum has amplified its standing as a key player in shaping international discourse and action. The G20 Leaders’ Declaration with 100% consensus on all developmental and geo-political issues is best regarded as a historic feat.

As G20 leaders deliberated systems that can empower countries to address global challenges in a human-centric manner, what stood out for me was the pivotal role of technology in fostering inclusive, secure and ethical practices and growth. What I was especially proud of was how India led from the front. Putting words into action over the last decade, India has consistently invested in and built digital public infrastructure (DPI) that serves as a cornerstone for inclusive economic growth. From initiatives like BharatNet and Aadhaar to other DPI platforms, our Digital India journey has yielded substantial impact at scale. Insights from it were shared with the G20. The Leaders’ Declaration emphasized the role of technology in bridging digital divides and promoting inclusive and sustainable development. It focused on:

Building DPI: The forum emphasized the significance of constructing robust, reliable and inclusive DPI that prioritizes safety, security, trustworthiness and accountability, and respects data privacy, intellectual property and human rights. The G20 endorsed both the voluntary G20 Framework for Digital Public Infrastructure Systems and India’s proposal to establish a Global Digital Public Infrastructure Repository. It also recognized the One Future Alliance initiative aimed at helping low- and middle-income countries with DPI.

Imbuing the digital economy with safety, security, resilience and trust: Leaders acknowledged the importance of a fully secure digital economy by embracing the adoption of non-binding principles to support businesses as they ensure safety, security and trust in the digital realm, and also toolkits designed to promote cyber education and awareness among the under-age

Fostering digital ecosystems: It was remarkable to see the G20’s commitment to promoting responsible, sustainable and inclusive digital-tech deployment in agriculture, healthcare and the protection and promotion of culture and cultural heritage. Further, the Global Initiative on Digital Health for data-protected digital health systems will be key in building a comprehensive ecosystem in compliance with respective data protection regulations.

Harnessing artificial intelligence (AI) responsibly: Participants stressed the importance of developing AI systems that prioritize transparency, fairness, accountability and privacy. India has been pushing for a comprehensive framework for AI regulation and its message to the world is clear: AI is not just an instrument for progress, but a catalyst for human advancement, equity and sustainability. It was commendable to see the leaders’ commitment to G20 AI Principles that advocate a pro-innovation regulatory approach aimed at using AI to achieve our Sustainable Development Goals.

The Declaration also established the importance of startups and SMEs as key engines of sustainable economic growth and innovation. The G20, for the first time, had a dedicated Startup20 summit under India’s Presidency. This brought together all the participating countries to share their best-known practices and develop a harmonized approach to foster ecosystem growth across international borders. Thanks to its resounding success, India has paved the way for a dedicated focus on startups and SMEs within the G20 framework.

Last but not least, I want to call out the commitment to ‘Preparing for the Future of Work’ in the G20 Leaders’ Declaration. The focus on an urgent need to address growing skill gaps, commitment to working towards ensuring well-managed, regular and skills-based migration pathways, and efforts to map global skill gaps are the need of the hour, globally.

With the G20 commitment to consider an international reference classification system of occupations by skill and qualification requirements to facilitate cross-country comparability, and a comprehensive toolkit with adaptable frameworks for designing and introducing digital upskilling and reskilling programmes, the G20 members had made it clear they recognize the importance of simplifying how they understand and use each other’s resources when the need arises.

These initiatives, if undertaken, will help address the current global talent crisis and build a harmonized framework for skill development, assessment and mobility to fulfil the digital era’s rapidly growing needs.

The deliberations of G20 leaders reflect the group’s commitment to harnessing technology and digital infrastructure for the betterment of society. This is a foundational principle that has helped our country tackle the challenges of a billion-plus population, and now it is indeed a moment of pride to see most of the world embrace the same approach to unlock the power of inclusive growth within their own national borders.

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 12 Sep 2023, 09:10 PM IST
Next Story footLogo
Recommended For You