Page 5 - Amitabh Kant

Global financial architecture needs to be alerted to suit requirement: Kant

Global financial architecture needs to be alerted to meet the requirement of emerging nations like India, Brazil and South Africa as they are the global growth drivers, India's G20 Sherpa Amitabh Kant said on Saturday. The flow of resources has to be directed towards emerging countries as 80 per cent of global growth is going to be contributed by these economies, he said. Sharing data, Kant said, the share of developed nations in global GDP was 60 per cent while developing countries contributed 22 per cent in 2008 when G20 was formed. At present, he said, the share of developed economies has come down to 48 per cent while that of emerging nations has increased to 37 per cent. So, it indicates that growth in future is going to come from developing markets, he said, adding, "this would require financing and the international financial architecture will have to be adequately tuned to ensure that resources flow from the developed world to the emerging markets and not vice versa as is .

G20's dialectic deadlock: India is treading the path carefully, tactfully

Widely differing positions on Russia-Ukraine war have created a nightmare for Indian diplomats struggling to arrive at an agreeable language for the joint communique ahead of G20 leaders' summit

'Overwhelming response to proposal of making African Union member of G20'

Prime Minister Narendra Modi's proposal to make the African Union a permanent member of the G20 has received overwhelming response from the grouping, India's G20 Sherpa Amitabh Kant has said. In an interview to PTI, the top negotiator noted that India was "very hopeful" of the African continental body finding a permanent position in the G20 during New Delhi's presidency of the grouping. Last month, Modi wrote to the leaders of the world's 20 largest economies pitching for giving the African Union full membership of the grouping at its upcoming summit in New Delhi in September. The proposal was formally included in the draft leaders' declaration at the third G20 Sherpas' meeting that took place in Karnataka's Hampi from July 13 to 16. The African Union (AU) is an influential organisation consisting of 55 member states that make up the countries of the African continent. The Sherpas held four extensive rounds of discussions during the gathering to give shape to the leaders' declarat

Implement food waste prevention programmes for food security: Amitabh Kant

India G20 Sherpa Amitabh Kant on Thursday made a strong case for food waste prevention programmes globally to reduce food insecurity and mobilise private funding for research in sustainable agriculture. Kant was addressing the maiden Global Food Regulators Summit 2023 here. "This is the first time a meeting of this nature is being held during India's G20 presidency. We feel strongly that locally adapted crops are significant for the transition towards resilient agriculture and food systems," he said. To strengthen research, collaboration and public awareness of green crops, the G20 in its agriculture ministerial meeting, launched millet and other ancient grains international research initiative called Maharishi. The former bureaucrat said the world is passing through a critical time as one-third of the world is in recession, and 75 countries of the world are facing a global debt crisis. Also, there is a major crisis of food, fuel and fertiliser in several countries. "The need of t

India should target 100% electrification of 2Ws, 3Ws by 2030: Amitabh Kant

India's G20 Sherpa Amitabh Kant on Wednesday said the country should target 100 per cent electrification of two and three-wheelers by 2030. He also said India should target that 65 per cent of its state public transport should be electric by 2030. India requires a clear policy framework to achieve these goals of electric mobility, Kant said. He was addressing a side event organised by the NITI Aayog on 'Policy support and Enablers to Accelerate India's Electric Mobility during the ongoing fourth Energy Transitions Working Group meeting under India's G20 Presidency in Panaji. "When India urbanises, our urbanisation should be compact. There should be good livability. In India, we must first go for electrifying two and three-wheeler vehicles, the former NITI Aayog CEO said. "India's policy should be that we must have 100 per cent electrification of two and three-wheeler vehicles by the year 2030. Whatever it takes, fix the target and work backwards, he said. Kant said diesel and pet

India has been agent of change, not of status quo: Kant on G-20 presidency

With the UN becoming "unwieldy" and "non-functional", the G-20 has emerged as the most responsive body to address key challenges facing the world and New Delhi has not shied away from bringing all major global issues to the "centrestage" during its presidency of the grouping, India's G-20 Sherpa Amitabh Kant said on Monday. He said India has been acting as an "agent of change" in the G-20 and that it is confident of building consensus to address critical developmental issues such as climate financing, debt vulnerabilities, ensuring progress on sustainable development goals and evolving a framework for digital public infrastructure. In an interview to PTI a day after the conclusion of the third G-20 Sherpas' meeting, he said the Russia-Ukraine conflict is restricted to a certain part of the world and the Indian presidency's focus has been entirely on the developmental agenda and to deal with issues facing the Global South. At the same time, Kant noted that the "present geopolitics" i

Nations support India's efforts to have strong outcome at G20: Amitabh Kant

Top negotiators of G20 nations complimented New Delhi's efforts to deliver "strong outcomes" at the grouping's upcoming summit to deal with key global challenges such as addressing financing gaps, pushing economic growth and ensuring sustainable development, India's G20 Sherpa Amitabh Kant said on Saturday. He also described the ongoing discussions at the third Sherpas' meeting in this heritage city as a "very huge success" and that the negotiators were supportive of priorities of the Indian presidency of the G20. Talking to the media, Kant said the negotiators deliberated on challenges such as debt vulnerabilities, making multilateral institutions more responsive to the needs of developing countries and ensuring progress on the sustainable development goals. "India has put forward multiple key proposals in front of the G20 countries with a view to shaping the global agenda and response to the crisis and challenges being faced by the world," Kant said. The Indian G20 Sherpa said th

G20 Sherpas focusing on sustainable growth, not on contentious issue: Kant

Top negotiators from the G20 countries on Thursday kick started intense negotiations with a focus on India's priority of ensuring inclusive global growth and addressing the challenges facing the Global South while keeping aside the contentious issues of the Ukraine conflict. As New Delhi faces the uphill task of building consensus on the outcome documents for the grouping's annual summit in September, India's G20 Sherpa Amitabh Kant said the immediate priority is to look at "ambitious" issues of development, growth, finance and digital transformation. The top negotiators from the G20 member nations, invitee countries and delegates from various leading international institutions began their three-day deliberations under the Sherpa track on Thursday in this spiritual city. Kant said building consensus on inclusion of the African Union into the G20 as proposed by Prime Minister Narendra Modi will also be a focus area at the third Sherpas' meeting under India's presidency of the ...

High growth of 8-9% to be driven by manufacturing, urbanisation: Kant

High growth of 8-9 per cent could be driven by focus on manufacturing and urbanisation, G20 Sherpa Amitabh Kant said on Wednesday. About 5,500 census towns need to have master planning, and sustainable urbanisation is the way forward, which is a huge opportunity to drive growth in India, he said speaking at an event for release of report titled 'The Rise of India's Middle Class'. The bulging middle class holds immense power to drive sustained economic, political and social growth in India, he said. As the number of middle class rises, he said, this will drive demand for quality healthcare, education, housing, consumer goods and many other things. The government increasingly will have to focus on education and health as well as creating job opportunities. The vision of India becoming a fully developed country by 2047 really implies that the middle class needs to be the key driver of India's growth story, he said. "Rise of the Indian middle class is also indicative of economic ...

No shortage of funds for good startups with strong business models: Kant

The innovation and startup ecosystem is strongly positioned to find solutions to challenges facing the world today, India's G20 Sherpa Amitabh Kant said on Monday, asserting there is no shortage of funds for good startups with strong business models. Speaking at 'Startup20 Shikhar' event, he advocated a multi-pronged approach of 'fund of funds', credit enhancement schemes, and a sharp focus on good governance for a robust startup ecosystem. Indian startups have successfully demonstrated the power of population-scale solutions at low cost, he said. Kant said that there is no funding winter in startup space, and pointed to "spring" of capital availability for good startups. The world is flushed with funds looking for well-structured good projects, he pointed out. Kant spoke about the success of India's digital public infrastructure, biometric ID, digital payments, and the strength of its startup ecosystem, and added that the country has demonstrated the huge power of digital ...

No shortage of funds for startups with strong business models: Amitabh Kant

The innovation and startup ecosystem is strongly positioned to find solutions to challenges facing the world today, India's G20 Sherpa Amitabh Kant said on Monday, asserting there is no shortage of funds for good startups, with strong business models. Speaking at 'Startup20 Shikhar' event, he advocated a multi-pronged approach of 'fund of funds', credit enhancement schemes, and a sharp focus on good governance for a robust startup ecosystem. Indian startups have successfully demonstrated the power of population-scale solutions at low cost, he said. Kant said that there is no funding winter in startup space, and pointed to "spring" of capital availability for good startups. The world is flushed with funds looking for well-structured good projects, he pointed out. Kant spoke about the success of India's digital public infrastructure, biometric ID, digital payments, and the strength of its startup ecosystem, and added that the country has demonstrated the huge power of digital ...

Don't depend on govt procurement, explore domestic, export markets: Kant

India's G-20 sherpa Amitabh Kant on Wednesday asked startups not to get "dependent" on government procurements but instead focus on the opportunities presented by the domestic and export markets. Speaking at a youth conference organised by IMC Chamber of Commerce, Kant also asked men to change their attitudes towards women and transfer wealth in the name of women to address the issue of gender disparity. Both the Union and many state governments have a positive outlook on helping startups on procurements from startups. The government e-marketplace (GEM) has a dedicated 'startup runway' showcasing startups' offerings, while there in many cases, there are relaxations in rules to accommodate buying from startups. "I am personally against governments getting into too much of startups...the dynamism of startups should be in the marketplace. the startups should not get themselves too dependent on govt procurement," Kant said. He said the startups should focus on the large domestic market

India's G20 Sherpa Amitabh Kant lauds Goa for showcasing rich culture

India's G20 Sherpa Amitabh Kant on Monday complimented the Goa government for showcasing the rich and diverse culture and heritage of India. Talking to reporters on the side lines of the ongoing Supreme Audit Institutions (SAI20) summit of G20, Kant said the venue displayed the character of traditional artisans from all over India and gave a unique flavour of not just Goa, but of the entire country. India is steering the agenda for G20 and has been successful in holding meetings in Goa, he said. Goa is not only a spectacular destination for hospitality, but also a master of curation. The gift they have prepared for the G20 visitors is truly outstanding, Kant said. Preparations for G20 capture the great flavour and all the unique products of Goa, from the works of great artist Mario Miranda to the small little things that make Goa special, he said, adding that these gifts will leave a lasting memory on the minds of all G20 visitors. He further said that Goa's natural beauty, its ..

AI offers new opportunities, also brings threats to privacy: Amitabh Kant

India's G20 Sherpa Amitabh Kant on Monday said while artificial intelligence (AI) offers exciting new opportunities, such technologies also bring with them new risks, threats to personal privacy and concerns about fake news. He was speaking at the second G20-SAI Summit of the SAI20 Engagement Group here. Kant said the world is interconnected today with technology. It plays a crucial role in the functioning and the transformation, and helps to collect, process and disseminate information more quickly and efficiently. "And with this vast data, we are seeing the emergence of generative artificial intelligence. These are playing a very critical role in the lives of citizens, they have both a positive as well as disruptive potential," he added. India's G20 Sherpa further said there is a need to realise that the future rapid advancements in artificial intelligence, and, in particular, the transformative potential of generative artificial intelligence, offer exciting new opportunities for

Southern states have to play critical role in India's growth story: Kant

The country's economic growth should rise from the current seven per cent to at least 10 per cent, which would result in overall increase in the per capita income, former NITI Aayog CEO Amitabh Kant said on Friday. The compounding rate is so powerful that if India grows at 9 per cent, the per capita income would be USD 20,000 and if the growth stood at 10 per cent, the per capita income would be USD 30,000, he noted. "For this growth (7% to 10%) to be achieved, I believe every State should be champions. We need 10 to 12 States to grow at 10 per cent plus to enable other states to also grow.Southern states have to play a key and critical role as they are the best in competition," he said at an event organised by the Confederation of Indian Industry, Southern Regional Council Meeting here. Elaborating, he said in every index that have been conducted -- be it health, education and tourism sector, southern states have always ranked 'Number One'. "India's growth story has to be driven b

For the first time, India setting agenda for G20: Sherpa Amitabh Kant

"This is the first time that India is setting an agenda for G20, which accounts for about 85 per cent of the global GDP," he said

Kashmir finest destination for film shooting: India's G20 Sherpa Kant

Kashmir is the finest destination for film shooting, India's G20 Sherpa Amitabh Kant said on Monday, as the three-day third tourism working group meeting of the powerful grouping kick-started here. He said the Kashmir Valley has been attracting filmmakers due to its unique nature, which has something for everyone. "Kashmir is not just a destination but a unique experience. Kashmir is an amazing destination because of Alpine forests, streams etc. There is no better destination than Kashmir as it has something to offer to everyone. It has everything," Kant said. He was addressing the delegates from the G20 countries on the side event 'Film Tourism for Economic and Cultural Preservation'. The event is a part of the third Tourism Working Group Meeting of the G20 countries being held in the city. "We believe in peace and prosperity. Prime Minister Narendra Modi believes tourism has a multiplier effect and it is a job creator. This destination is unique because no Bollywood movie was ...

Central Advisory Council discusses legacy stalled real estate projects

The Central Advisory Council constituted under the Real Estate (Regulation and Development) Act on Tuesday discussed issues like legacy stalled projects and uniformity in rules framed by states and Union territories under the provisions of the Act. Union Housing and Urban Affairs Minister Hardeep Singh Puri chaired the CAC (Central Advisory Council) meeting where participants were informed that 32 states/UTs have set up real estate regulatory authorities. It was informed that Ladakh, Meghalaya and Sikkim are yet to establish any such authority, while six states/UTs (Arunachal Pradesh, Manipur, Mizoram, Telangana, Jammu and Kashmir, and Puducherry) are yet to establish permanent regulatory authorities. The CAC also discussed the issue of legacy stalled real estate projects. HUA secretary Manoj Joshi asked members to submit their suggestions to the committee chaired by G20 Sherpa and former NITI Aayog CEO Amitabh Kant. The panel was set up to examine all issues related to legacy stal

Former CEO of NITI Aayog Amitabh Kant loses blue tick on Twitter

Twitter CEO Elon Musk recently suspended blue checkmark from all the legacy accounts

India will use G20 narrative to push its digital growth story: Amitabh Kant

India's G20 sherpa Amitabh Kant on Tuesday said India will use the G20 narrative to push its digital transformation story to the rest of the world with an objective of transforming the lives of people in the Global South. Addressing the 8th National Leadership Conclave held by All India Management Association (AIMA) here, he highlighted that globally there are 4 billion people who are without a digital identity and two and a half billion people do not even have a bank account. There are 133 countries in the world which do not have digital fast payments, he said. He said India has been able to transform the lives of citizens and become a more productively efficient economy because of digitisation. "... How do we take this model of India to the rest of the world is the challenge and we will use the G20 narrative to push this digital transformation story of India to the rest of the world and see how we can use this opportunity to transform the lives of citizens in the Global South and