Tuesday, April 16, 2024
HomeNewsEMs must press for climate aid, says G20 business forum chief

EMs must press for climate aid, says G20 business forum chief

[ad_1]

NEW DELHI : The G20 presidency‘s arrival in countries such as Indonesia, India, Brazil and South Africa, is an opportunity to prioritize the issues faced by emerging market economies, said Shinta Widjaja Kamdani, chairperson of Business 20 (B20), the official G20 forum for dialogue with the global business community.

The opportunity can also be used to drive the growth of small and medium-sized enterprises (SMEs) in the region and together press for climate financing pledged by developed nations, Kamdani said in an interview.

India, which is set to assume G20 presidency from 1 December following Indonesia, has named former NITI Aayog CEO Amitabh Kant as its G20 Sherpa.

Kamdani said there is a need to narrow the gap between developed and developing nations. “The collaboration aspect is hugely important when we talk about green transition. The promise of financing by developed nations needs to be put on the table,” Kamdani said. She added that for the first time, emerging economies like Indonesia are driving the agenda of the G20. The development of SMEs has been a key priority area, and it is expected that India would be carrying it forward.

Earlier, the secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain had proposed a new engagement group named Startup-20 under India’s G20 presidency. Jain had said that the growth of startups had been curtailed due to several challenges on availability of funds, proper guidance and policy support.

“We have come up with specific legacy projects that are driving our SME growth, what we call this scaling up for SMEs. And these programmes are also supported by a number of businesses throughout different countries. India also has a similar agenda. Next year, it wants to drive the startup community and we will extend our full support. We also want to use the momentum for G20 to enhance bilateral cooperation with India,” Kamdani stated.

Arsjad Rasjid, chairman of the Indonesian Chamber of Commerce and Industry (KADIN) said it is looking forward to economic partnership with India beyond trade. It should include investment and human capital development as India and Indonesia are at the centre of growth, he added. On energy transition, Rasjid said the push towards renewable energy would be more crucial amid the Russia-Ukraine war.

“Indonesia produces 38% of the total nickel produced in the world. After this conflict between Russia and Ukraine, our position would be bigger. Emerging economies such as India and Indonesia can work together in battery space.”

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

[ad_2]

Source link

RELATED ARTICLES

most popular

Recent Comments