Prime Minister Narendra Modi addressed several key themes during the B20 Summit India 2023 hosted by the Confederation of Indian Industry (CII). He emphasized the importance of leveraging artificial intelligence (AI) in an ethical manner, proposed the idea of an annual ‘International Consumer Care Day,’ and discussed transitioning from carbon credit trading to adopting ‘green credit.’
Ethical Use of Artificial Intelligence:
PM Modi underscored the significance of employing artificial intelligence in a responsible and ethical manner. He highlighted that while AI offers transformative potential, it also presents challenges that require a comprehensive and integrated approach to address. Modi likened the need for a global framework for AI to that of cryptocurrencies.
Proposal of ‘International Consumer Care Day’:
Modi proposed the establishment of an annual ‘International Consumer Care Day’ to prioritize consumer welfare and ethics in business practices. He encouraged global businesses to observe this day as an opportunity to focus on consumer well-being and satisfaction.
Transitioning to ‘Green Credit’:
The prime minister suggested moving away from traditional carbon credit trading and embracing ‘green credit.’ This shift aligns with sustainability goals and encourages businesses to contribute positively to environmental protection.
India’s Role in the Digital Revolution and Global Supply Chain:
Modi highlighted India’s pivotal role in the digital revolution, particularly in the era of Industry 4.0. He emphasized that India’s dynamic contribution extends to building an efficient and trusted global supply chain. He stressed that businesses should go beyond financial considerations and prioritize supply chain resilience and sustainability.
Cryptocurrencies and Global Framework:
Regarding cryptocurrencies, Modi highlighted the need for a maximum integrated approach and a global framework that accommodates the interests of all stakeholders. He recognized the complexity of the challenge and emphasized the importance of a comprehensive perspective in addressing cryptocurrency-related issues.
G20 Presidency Accomplishments:
The prime minister discussed India’s presidency of the G20, emphasizing that the nation made the forum more inclusive. He noted that the African Union’s participation in the G20 was extended through India’s invitation, amplifying the voice of Africa on the global stage. Modi expressed pride in the accomplishments of India’s G20 presidency, highlighting the diversification of events across the country and the welcoming spirit of the Indian people.
As India continues to play a crucial role in global economic discussions, PM Modi’s address at the B20 Summit India 2023 underscores the nation’s commitment to ethical AI, sustainable business practices, and international collaboration.