As India assumes the G20 presidency, it will have the opportunity to advance the cause of mutually beneficial, rules-based international commerce at a time when the globe is dealing with a slew of interconnected political and economic challenges.
India can use its G20 presidency to intervene in areas of mutual interest for developing countries, as well as in forward-looking trade areas that require continuing discussion. Under the Trade and Investment Working Group (TIIWG), it should encourage problem-solving and highlight "India solutions" whenever possible. More broadly, India should seek agreement on the importance of navigating a new era of multilateral trade that continues to provide much-needed benefits from international commerce.
Supply Chain Finance, in conjunction with enabling platforms such as Trade Receivables Discounting System (TreDs) in India, is envisioned as a feasible solution for easing the financial value chain related to the supply chain, particularly for MSMEs. In addition, Supply Chain Finance has the potential to integrate the sustainability factor in buyer-supplier relationships in order to give a distinct proposition to suppliers who meet Environmental, Social, and Governance (ESG) guidelines.
To continue this dialogue, the ASSOCHAM Department of Banking & Financial Services is organizing the 4th National Summit on Trade Finance for Inclusive Growth, with the goal of analyzing the issues and concerns in detail and also charting out a way forward in terms of suggestions on the necessary regulatory changes for adapting to changing times.
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Event Name: Construction Power & Energy Expo-2023
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Date: 07-09 July 2023
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