G20 presidency offers major opportunity for India – sherpa
The upcoming G20 summit in New Delhi presents a significant opportunity for India to promote itself as an investment and tourism destination, according to government representative Amitabh Kant. The Indian capital is gearing up to host the event on September 9-10.
In an interview with India’s Business Today outlet released on Sunday, Kant highlighted ongoing infrastructure development which he insisted will facilitate business and enhance the quality of life across the country.
Discussing tourism, Kant said India currently has a modest 1.5% share of the global industry, which is valued at $5 trillion. Similarly, India has a relatively small portion of the global MICE (meetings, incentives, conventions, and exhibitions) market, valued at $650 billion, he added.
“The G20 presidency presents a valuable opportunity to capture a larger share of these markets,” stressed Kant, who is India’s ‘sherpa’ for the upcoming summit.
He claimed that the promotion of the local handicraft and handloom industries will further boost incomes for craftsmen and help introduce their work to a global audience.
Kant also praised the push to include the African Union (AU) as a permanent G20 member, describing it as a “major achievement” and noting that the 55-nation AU makes key political and economic decisions. South Africa is currently the only member of the G20 from the continent.
Talking to The Hindu on Saturday, Kant stated he was confident about the parties agreeing on economic issues at the summit.
“We will achieve consensus on all growth and development issues and on all our priorities. We are positive, constructive, ambitious and will be balanced. Our declaration will speak the voice of the Global South from where most of the global growth will come from in the next two decades,” he concluded.
