India has launched a three-year relay of the BRICS presidency in the Group of Twenty
In Gandhinagar, the administrative center of the Indian state of Gujarat, in the last decade of January 2023, the opening meetings of the Business Twenty (B20) took place under the chairmanship of India, which Board member, Chairman of the International Banking Committee of the FBA EAC Oleg Preksin attended. After India, the presidency of the G20 will go to Brazil, and in 2025 it should be headed by South Africa – the only one of the twenty member countries of this group where meetings of leaders have not yet been held.
The Russian delegation to Gandhinagar was headed by plenipotentiary representatives of the Russian Union of Industrialists and Entrepreneurs (RSPP), which traditionally coordinates the participation of Russian business in the B20. Our delegation included representatives of the Association of Russian Banks, companies of PAO GMK Norilsk Nickel, AO Complexprom, MSC Boos Lighting Group and other enterprises and organizations. The leadership of the Department of Foreign Economic and International Relations of the city was also represented, who received an invitation from the Indian organizers to speak at one of the plenary sessions.
Mr. Chandrajit Banerjee, General Director of the Confederation of Indian Industries (CII), who performs the functions of the B20 Secretariat on behalf of Prime Minister of India Narendra Modi, addressed the participants at the so-called "Initial Meeting" of the Business Group of Twenty under the Indian chairmanship.
The event, organized by the Indian side at a high political level, was attended by heads of government bodies and international organizations, companies and organizations from the member countries of the Group of Twenty (G20). Among them are Indian Minister of Trade and Industry Piyush Goyal, Indian sherpa in G20 Amitabh Kant, Chairman of B20 India and CEO of Tata Sons N. Chandrasekaran, Head of Bajaj Finserv Ltd. and President of the Confederation of Indian Industry (CII) Sanjiv Bajaj, Vice Chairman and President for Strategic Development of Mastercard Michael Froman, Charles Rick Johnston, Chairman of "Business in OECD (BIAC)", Managing Director of Citi Group, Senior Advisor to the Chairman of HSBC Group Lord Undy-Lister of Wandsworth, etc.
The meeting launched the months-long work of seven Task Groups formed within the framework of the Indian Chairmanship to prepare recommendations of the business community to the leaders of the G20 countries (on inclusive global value chains for sustainable global trade and investment; the future of employment, skills and mobility; energy, climate change and resource efficiency; digital transformation; financing global economic recovery; technology, innovation and R&D; financial accessibility of economic empowerment), as well as two Executive Boards: on ESG in business and on the economic integration of Africa.
Speaking at a meeting of the Task Force on Financing for Global Economic Recovery (B20 India Task Force on Financing for Global Economic Recovery), O. Preksin, as its participant, offered to work on coordinating the agendas of profile groups within the Business Group of Twenty and the BRICS Business Council, headed this year by colleagues from South Africa, and also to consider holding a brainstorming session on the current state and prospects for the development of the international monetary and financial system in terms of maximum assistance to achieving the Goals proclaimed by the UN Sustainable Development Goals (SDGs) for the period up to 2030.
In addition to plenary sessions and task force meetings, the work program in Gandhinagar included a visit by the B20 delegation to the Gujarat International Finance Tec-City - GIFT, which is actively used by foreign banks to support trade and economic cooperation of their clients with Indian partners.
The culmination of the Indian presidency of the B20 will be the summit of the Business Twenty, scheduled by the Indian side for August this year.
Separately, O. Preksin held a working meeting at the headquarters of the National Payment Corporation of India in Mumbai, where issues of promoting the BRICS Pay project were discussed, as well as negotiations with local businessmen who showed interest in implementing a number of commercial projects supervised by the FBA EAC.