India, for the past 10 years, has been setting historical benchmarks throughout the world – the latest being taking over the presidency for the G20 summit. Thanks to India’s recognition by the World Bank as one of the top improvers in Ease of Doing Business (EoDB) assures the world about India’s relentless efforts for redefining the ways businesses operate in new times.
What’s more? An unprecedented opportunity for convergence with the 19 highly significant countries in terms of trade—Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UK, United States—as well as the European Union— is provided by India’s G20 Presidency, which is being held at this momentous crossroads in world history (EU).
Since the G20 collectively accounts for 85 per cent of the world’s GDP, 75 per cent of international commerce, and two-thirds of the world’s population, it is the foremost venue for global economic cooperation. Aligning G20 cooperation in the economic sphere will be the game changer. While the G20 summit is taking its stride towards building a better India and cohesively the world development, there is no better time than now for the manufacturing sector (which contributes nearly 16-17 per cent of the country’s GDP) and its technological prowess to be highlighted.
This story is from the February 2023 edition of The Machinist.
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This story is from the February 2023 edition of The Machinist.
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