Harnessing Technology for Inclusive Growth: G20’s Commitment and India’s Leadership

Introduction:

India’s proactive stance at the G20 forum has solidified its position as a global leader. The G20 Leaders’ Declaration, which showcased historic consensus on developmental and geopolitical issues, highlights the pivotal role of technology in fostering inclusive, secure, and ethical practices. This article explores India’s leadership in harnessing technology, digital infrastructure, and innovation for inclusive growth, as well as the commitments made by G20 leaders towards this goal.

Building Robust Digital Public Infrastructure (DPI):

The G20 leaders recognize the significance of constructing robust and inclusive DPI that prioritizes safety, security, trustworthiness, and accountability while respecting data privacy, intellectual property, and human rights. The voluntary G20 Framework for Digital Public Infrastructure Systems and India’s proposal to establish a Global Digital Public Infrastructure Repository have received endorsement. Additionally, the One Future Alliance initiative aims to assist low- and middle-income countries in developing their DPI.

Ensuring Safety, Security, and Trust in the Digital Economy:

Acknowledging the importance of a fully secure digital economy, G20 leaders have embraced non-binding principles to support businesses in ensuring safety, security, and trust in the digital realm. To promote cyber education and awareness, toolkits are being developed for the under-age population.

Promoting Responsible and Inclusive Digital Ecosystems:

The G20 has made a remarkable commitment to promoting responsible, sustainable, and inclusive digital-tech deployment in sectors such as agriculture, healthcare, culture, and cultural heritage. The Global Initiative on Digital Health aims to build comprehensive ecosystems while complying with data protection regulations.

Developing Artificial Intelligence (AI) Responsibly:

Participants have highlighted the importance of developing AI systems that prioritize transparency, fairness, accountability, and privacy. India has been advocating for a comprehensive AI regulatory framework, emphasizing that AI should be a catalyst for human advancement, equity, and sustainability. The G20 leaders have committed to the G20 AI Principles, endorsing a pro-innovation regulatory approach towards AI in line with Sustainable Development Goals.

Empowering Startups and SMEs as Drivers of Economic Growth:

The G20, under India’s Presidency, held its first dedicated Startup20 summit, bringing together participating countries to share best practices and foster ecosystem growth across borders. This milestone emphasizes the importance of startups and small-to-medium enterprises (SMEs) as key engines of sustainable economic growth and innovation.

Addressing Skill Gaps and Preparing for the Future of Work:

The G20 Leaders’ Declaration emphasizes the urgent need to address growing skill gaps and commits to ensuring well-managed, skills-based migration pathways. Efforts are also being made to map global skill gaps and establish an international reference classification system for occupations. A comprehensive toolkit with adaptable frameworks for digital upskilling and reskilling programs is being developed.

Conclusion:

The deliberations of G20 leaders illustrate their commitment to harnessing technology, digital infrastructure, and innovation for the betterment of society. India’s leadership in this domain, as exemplified by its Digital India initiatives, has provided a strong foundation. The embrace of inclusive growth strategies by countries worldwide reflects a global recognition of the power of technology in addressing socio-economic challenges. By collaborating and implementing the commitments made at the G20 summit, meaningful progress can be achieved in unlocking the potential of inclusive growth within national borders.

Disclaimer:

The information provided in this article is based on the latest Acts, Rules, Circulars, Notifications, Provisions, Press Releases, and other applicable material available at the time of compilation. We have diligently ensured the completeness and accuracy of the material. However, it is essential for users to consult the relevant legislation for specific guidance. Please note that the data provided may be subject to change without prior notice and should not be considered as professional advice. Estabizz Fintech holds no liability for any outcomes resulting from the use of this material.