During his address at the B20 Summit India 2023 in Delhi, External Affairs Minister Dr S Jaishankar said the developments in India have the potential to address a significant portion of global issues.

He added that these developments also serve as models that can be replicated by other countries in the global south.

As the Business 20 (B20) Summit India 2023 draws to a close on Sunday (27 August), Prime Minister Narendra Modi is scheduled to deliver a speech at the event.

“Today’s India is the one where the world simultaneously witnesses experimentation, scaling up, deployment, innovation, and breakthroughs. I stress these developments not only because they solve 1/6th of the world’s problems, but because they provide replicable models for the rest of the global south,” Jaishankar said.

The Prime Minister's Office (PMO) announced on Sunday that the B20 India Summit has successfully brought together policy makers, business leaders, and experts from around the world.

The purpose of the summit was to discuss and deliberate on the B20 India Communique, which consists of 54 recommendations and 172 policy actions that will be submitted to the G20.

The B20 is the official dialogue forum between the G20 and the global business community.

Established in 2010, it is one of the most prominent engagement groups within the G20, with participation from companies and business organisations.

The main objective of the B20 is to provide concrete and actionable policy recommendations that will stimulate economic growth and development.

The B20 Summit, with the theme "R.A.I.S.E. - Responsible, Accelerated, Innovative, Sustainable and Equitable businesses," is a three-day event that began on 25 August.

More than 1,500 delegates from approximately 55 countries are attending the Summit, which is organised by the Confederation of Indian Industry (CII).