India well positioned for global transitions in AI, energy: B20 chair

Chandrasekaran explained that the B20 theme focuses on ensuring Responsible, Accelerated, Innovative, Sustainable, and Equitable access to all businesses

India is well positioned for global transition in the areas of artificial intelligence (AI), energy or supply chain resilience, and transition due to geopolitical situation, said N Chandrasekaran, chair, B20 India, at B20 Summit India 2023 in New Delhi on Thursday .

“The global transitions favour India, and our growth momentum continues, compared to the rest of the world which faces a low growth situation,” he added, lauding India’s growth trajectory. Also the chairman of Tata Sons, Chandrasekaran noted that India stood at the cusp of changes happening worldwide. “We are the fifth largest economy, and we have a lot of things going for us. Not just in terms of economic growth but in terms of infrastructure as well,” he said.  Set up in 2010, Business20, or B20, is one of the G20 forums representing the global business community. The forum has made 54 policy recommendations and over 170 actions to be undertaken.

Chandrasekaran said that the B20 theme was focused on ensuring responsible, accelerated, innovative, sustainable, and equitable access to all businesses. “The nine themes, seven task forces, and two action councils address what the world economy, society, and global south needs,” he added. 

The task force centred around digital transition and adoption of AI on the scale, which can benefit society.

“So much can be done on generative AI. It requires regulation in some form. How can we come together so that a common framework can be developed to bring responsibility in the use of generative AI, but not choke innovation,” Chandrasekaran said.

Praising India’s efforts on digital public infrastructure, Chandrasekaran pointed out that India has a lot to contribute in the digital public infrastructure (DPI) stages.

He further pointed to the development of task forces on women empowerment, sustainable financing, resilient supply chains, inclusive growth framework for MSMEs, ESG, skilling and mobility.