Global business communities and governments must collaborate to ensure the expansion of Ethical AI.
By the Prime Minister of India
India is currently bathed in festivity, a sentiment amplified by the early onset of our long festival season, beginning on August 23rd. This year, however, our celebration holds an additional dimension. We’re not just celebrating the festival season but the monumental achievement of Chandrayaan‘s landing on the moon.
Businesses have broken geographical barriers. The next frontier is transcending traditional bottom-lines to emphasize supply chain resilience, sustainability, and shared prosperity. With platforms like the B20 Summit, I’m optimistic about our collective future, emphasizing a shared purpose, shared planet, and shared future.
A Joint Triumph of Science and Industry
Our national pride, the Indian Space Research Organisation (ISRO), took the lead, but Indian industry’s contribution cannot be understated. From private enterprises to MSMEs, our industries played an integral part in developing components crucial for Chandrayaan’s success. This celebration embodies the intersection of science, industry, responsibility, innovation, sustainability, equality, and humanity.
This theme resonates with the B20 Summit’s central theme – RAISE (Responsibility, Acceleration, Innovation, Sustainability, Equality). More importantly, it stands as a testament to our shared humanity and our collective vision of “One Earth, One Family, One Future.”
Innovation and Inclusiveness in the Global Arena
While ‘Innovation’ forms the core of B-20’s RAISE theme, I also underscore the equally vital ‘I’ – Inclusiveness. Our gesture of inviting the African Union as a permanent G-20 member stems from this belief. An inclusive forum promises a larger impact, paving the path for sustainable growth and collective decision implementation.
Lessons from Adversity
The recent pandemic imparted an essential lesson, emphasizing mutual trust’s significance. In this era marked by dwindling global trust, India stands out. Not only did we assist over 150 countries with essential medications, but our role as the “Pharmacy of the World” was pivotal in producing and distributing COVID-19 vaccines globally.
The Changing Landscape of Business and Global Supply Chains
The post-COVID world requires us to reevaluate and reshape our global supply chain strategies. As businesses navigate this, India positions itself as a reliable partner. I urge global enterprises to recognize this potential and collaborate with us to establish robust supply chains.
Sustainability: More than Just a Buzzword
As we grapple with environmental challenges, sustainability should transition from being just a regulatory concept to becoming an integral part of our existence. Emphasizing sustainability, I spotlight the potential of millets, an eco-friendly superfood, and the promise of the circular economy. Our commitment extends to green energy, notably Green Hydrogen.
Towards a Healthier Planet and Prosperous Businesses
With heightened health consciousness post-pandemic, it’s essential to extend this awareness to our planet. Mission LiFE (Lifestyle for Environment) is anchored in this philosophy. It emphasizes aligning our lifestyles and businesses with environmental considerations, ensuring we work towards a ‘planet positive’ future.
A New Paradigm: Consumer Care
In our quest for growth, we must ensure equitable progress for all. Catering to the burgeoning middle class, the primary consumer base, is essential. And while we emphasize consumer rights, it’s time to shift focus to consumer care. Proposing the idea of an International Consumer Care Day, I emphasize fostering trust between businesses and consumers globally.
Future Challenges: Need for a Collective Approach
The business landscape is evolving, introducing challenges like cryptocurrencies and ethical considerations surrounding Artificial Intelligence. Addressing these requires global collaboration, collective ideation, and frameworks to guide their sustainable integration into our daily lives.
(India CSR)
Note: The above is an interpretation of the Narendra Modi, PM’s speech, originally delivered in Hindi.
