The G20 Leaders’ New Delhi Declaration welcomed the establishment of the Start-up 20 Engagement Group during India’s G20 Presidency and its continuation.
The declaration focused on the financial crisis and its impact on economies and people worldwide, especially after COVID-19. It expressed commitment to achieving strong, sustainable, balanced, and inclusive growth.
The declaration acknowledged the important role of private enterprise in promoting economic growth and sustainability. It outlined a 4-point initiative that includes creating global value chains that are inclusive, sustainable, and resilient. It also aims to support developing countries in moving up the value chain and facilitate investments, including Foreign Direct Investments (FDIs), in sustainable business models. Additionally, the initiative aims to develop investible projects in developing countries by leveraging the expertise of MDBs (Multilateral Development Banks) and promoting ease of doing business.
The declaration also recognized the significance of start-ups and MSMEs (Micro, Small, and Medium Enterprises) as engines of growth. They drive innovation and create employment opportunities. The establishment and continuation of the Start-up 20 Engagement Group during India’s G20 Presidency were welcomed.
Overall, the G20 Leaders’ New Delhi Declaration emphasized the importance of inclusive and sustainable growth, the role of private enterprise, and the potential of start-ups and MSMEs in driving economic transformation and creating jobs.
